April 10 (Bloomberg) -- The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Markets in South Korea and Malaysia are shut tomorrow for holidays.
Cathay Financial Holding Co. (2882 TT): Taiwan’s largest financial services company reported first-quarter net income of NT$1.92 billion ($65 million), according to a statement to the stock exchange. The total exceeds the NT$1.87 billion average estimate of analysts surveyed by Bloomberg. The stock advanced 0.6 percent to NT$31.50.
China Shipping Development Co. (1138 HK): The company foresees a first-quarter loss amid lower demand in domestic and international shipping markets, oversupply of shipping capacity and high fuel costs, according to a statement to the Hong Kong stock exchange. The stock lost 2 percent to HK$5.50.
Chiyoda Co. (8185 JT): The specialty retailer said net income jumped to 4.84 billion yen ($60 million) in the year ended Feb. 29 from 1.05 billion yen a year earlier, citing cost cuts and streamlining of unprofitable stores. The company forecast profit will rise 19 percent to 5.78 billion yen this fiscal year. The stock added 0.4 percent to 1,619 yen.
Honda Motor Co. (7267 JT): The carmaker announced plans to double sales in China, the world’s largest vehicle market, over four years by focusing on small cars. The automaker will buy more parts in China to cut costs and add more than 10 new and revamped models from 2013 through 2015, the company said. The stock rose 0.5 percent to 2,952 yen.
HSBC Holdings Plc (5 HK): The London-based lender, which is publicly traded in Hong Kong, said its HSBC Bank Middle East Ltd. unit is “in discussions” with a number of “interested parties” about the possible sale of its operations in Pakistan. The talks are at an early stage, the bank said. HSBC dropped 1.8 percent to HK$67.55.
Huadian Power International Corp. (1071 HK): First-quarter power generation rose 6.1 percent from a year earlier, according to a statement to the Hong Kong Stock exchange. The shares sank 3.3 percent to HK$1.75.
J. Front Retailing Co. (3086 JT): The department-store operator said it expects a 35 percent drop in net income to 12.3 billion yen in the year started March 1. Profit more than doubled to 18.8 billion yen in the year ended Feb. 29 from 8.86 billion yen a year earlier on cost cuts and a gain from the sale of fixed assets, J. Front said in a statement. The stock slipped 0.7 percent to 427 yen.
Kyocera Corp. (6971 JT): The electronics maker, IHI Corp. (7013 JT) and Mizuho Corporate Bank Ltd. Said they plan to construct a 70-megawatt solar plant, the largest to be built in this country, in Kagoshima prefecture at a cost of 25 billion yen. Kyocera rose 0.8 percent to 7,260 yen. IHI was unchanged at 193 yen.
NEC Capital Solutions Ltd. (8793 JT): The leasing company reported net income of 4 billion yen for the year ended March 31, missing its forecast by a third. NEC cited bad loans to Elpida Memory Inc. which has since filed for bankruptcy protection, for the result. The stock lost 2.4 percent to 1,185 yen.
Parco Co. (8251 JT): J. Front Retailing, which runs department stores and supermarkets, said it has no plan to buy more Parco shares at time time. J. Front already holds a 33 percent interest in the shopping center operator, according to data compiled by Bloomberg. Parco lost 2.2 percent to 818 yen.
Saizeriya Co. (7581 JT): The Italian restaurant chain said operating profit fell 22 percent to 3.96 billion yen in the six months ended Feb. 29. The stock slid 1.3 percent to 1,271 yen.
Showa Shell Sekiyu K.K. (5002 JT): The oil refiner agreed with GS Caltex Corp. (GSCALZ KS) and Taiyo Oil Co. (TAIZ JP) to increase capacity of paraxylene, which is used to make synthetic fibers, at GS Caltex’s Yeosu Complex in South Korea, according to a statement. Showa Shell declined 0.2 percent to 497 yen.
Sony Corp. (6758 JT): Japan’s largest electronics exporter posted a record 520 billion yen loss for the year ended March 31, according to a preliminary earnings statement. The loss is more than double the forecast, and includes plans to take a 300 billion yen charge to write down deferred tax assets. The stock sank 3.5 percent to 1,586 yen.
Sugi Holdings Co. (7649 JT): The drugstore chain said profit rose 27 percent to 11.4 billion yen in the year ended Feb. 29, citing savings on power and promotion costs. The stock slipped 0.5 percent to 2,432 yen.
Tata Steel Ltd. (TATA IN): Profitability at the local unit of India’s biggest producer should improve in the quarter ended March on higher sales and better prices, according to an investor presentation posted on its website. It expects that its loss-making European unit may register better margins in the coming quarters following a surge in prices and restocking. The shares declined 1.5 percent to 452.80 rupees.
Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest contract maker of custom chips said sales rose 0.7 percent to NT$36.61 billion in March, the company said in a statement. The stock lost 1.2 percent to NT$82.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com