Disco, Idemitsu Kosan, Oriental Land, Shimamura: Japanese Equity Preview
The following companies may have unusual price changes in Japanese 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.
Cawachi Ltd. (2664 JT): The drugstore chain's sales at stores open for at least 13 months dropped 11 percent in March from the same month a year earlier. The stock rose 0.5 percent to 1,799 yen.
Disco Corp. (6146 JT): The maker of abrasives and precision industrial machinery said fourth-quarter sales more than tripled to 17.2 billion yen ($183 million) from 4.76 billion yen a year earlier on a parent basis. Turnarounds in a semiconductor market contributed to the company's sales, Disco said in a release. The stock gained 2.1 percent to 5,870 yen.
Idemitsu Kosan Co. (5019 JT) and Mitsui Chemicals Inc. (4183 JT): The companies said they have agreed to merge operations of their ethylene plants in Chiba, near Tokyo. Idemitsu rose 0.9 percent to 7,140 yen. Mitsui Chemicals advanced 2.1 percent to 289 yen.
Joyo Bank Ltd. (8333 JT): The regional bank said three shareholders will sell a combined 20 million existing shares later this month. The stock slumped 0.5 percent to 415 yen.
Megane Top Co. (7541 JT): The eyeglass retailer said its same-store sales in March tumbled 14 percent from a year earlier, falling for a third month. The stock slid 0.2 percent to 617 yen.
Nagaileben Co. (7447 JT): The maker of medical clothing said first-half net income rose 21 percent to 758 million yen, on rising sales. The stock slid 0.4 percent to 2,155 yen.
Oriental Land Co. (4661 JT): The operator of Tokyo Disney Resort said the theme park hosted 25.8 million visitors during fiscal 2009, 5.2 percent fewer than a year earlier and 0.9 percent more than the company had expected. The stock lost 0.3 percent to 6,500 yen.
Point Inc. (2685 JT): The apparel chain said March same- store sales in Japan dropped 4.1 percent from a year earlier on falling sales per customer. The stock rose 4.6 percent to 5,860 yen.
Shimamura Co. (8227 JT): The apparel retailer said it expects a 7.7 percent increase in net income to 23.4 billion yen this fiscal year, with a 4.3 percent advance in sales. Profit in the year ended Feb. 20 rose 14 percent to 21.7 billion yen. Also, the company increased its planned year-end dividend to 65 yen from 58 yen. The stock climbed 2.9 percent to 8,520 yen.
Workman Co. (7564 JQ): The maker of work uniforms said sales at stores open for at least 13 months gained 4.4 percent in March, aided by a 7.5 percent increase in the number of customers. The stock gained 2.6 percent to 1,180 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com.