The following companies may have unusual price changes in Japanese trading today. 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.
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.
Daiwa Securities Group Inc. (8601 JT): The brokerage and the Tokyo Stock Exchange reached a basic agreement with Myanmar government to help the nation set up a bourse by 2015, Asahi newspaper reported. Daiwa lost 2.2 percent to 313 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.
Itochu Corp. (8001 JT): The trading firm will invest 472 million euro ($617 million) to acquire a 24.9 percent stake in Metsa Fibre, a Finnish pulp maker, the Nikkei newspaper reported, without saying where it got the information. The stock fell 1 percent to 865 yen.
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.
Kyowa Hakko Kirin Co. (4151 JT): The drugmaker will invest up to 15 billion yen to increase biopharmaceutical production in Takasaki, Japan, Nikkan Kogyo reported, without attribution. The stock added 0.1 percent to 878 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 for now. 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.
Tokyo Electric Power Co. (9501 JT): Tokyo Metropolitan Government (MOTZ JP) became the utility’s top shareholder, the Nikkei newspaper reported. Sales of Tepco shares by Dai-ichi Life Insurance Co. (8750 JT) and Nippon Life Insurance Co. (0001 JP) left the Tokyo government as the top shareholder of the utility at the end of March, the report said. The Tokyo government was the third-biggest shareholder as of September. Tepco lost 2.3 percent to 210 yen.
Toray Industries Inc. (3402 JT): Operating profit at the synthetic fiber maker will probably reach about 120 billion yen in the year ending March 2013 on growing sales of its resins and fibers used in cars and cost cuts, the Nikkei newspaper reported, without saying if the figures represent its own estimate, or were obtained from analysts or the company. The stock advanced 0.5 percent to 594 yen.