ABC-Mart, Honda, Nidec, Softbank, Takashimaya: Japanese Equity Preview
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.
ABC-Mart Inc. (2670 JT): The shoe retailer said same-store sales in March rose 4.1 percent from a year earlier as TV commercials boosted customer traffic. Also, sales per customer dropped by 9.5 percent last month, ABC-Mart said in a release. The stock slipped 0.7 percent to 3,045 yen.
Aska Pharmaceutical Co. (4514 JT): The drugmaker said it has agreed with Alfa Wassermann SpA to obtain exclusive rights in Japan to develop and market rifaximin, an antibiotic made by the Italian drugmaker. Aska rose 0.3 percent to 656 yen.
Chubu Electric Power Co. (9502 JT): The utility agreed to pay Xstrata Plc (XTA LN) $98 a ton for coal in fiscal 2010, a 38 percent increase from the previous year, Nikkei English News said. Chubu Electric slid 1.2 percent to 2,290 yen.
Dainippon Screen Manufacturing Co. (7735 JT): The chip- equipment maker will book a gain of 2.76 billion yen ($29.2 million) for its fiscal year ended March 31 from the sale of two securities it held, Dainippon Screen said in a release. The stock rallied 3.2 percent to 453 yen.
Disco Corp. (6146 JT): The maker of precision industrial machinery may report an operating profit of between 2.5 billion yen and 3 billion yen for the quarter ended in March, Nikkei English News reported. The stock rose 1.5 percent to 6,000 yen.
Fast Retailing Co. (9983 JT): The owner of the casual-wear chain Uniqlo plans to develop its low-price g.u. chain to accelerate growth, Nikkei English News reported. The stock plunged 11 percent to 14,920 yen.
Hiday Hidaka Corp. (7611 JT): The noodle-shop chain said sales at restaurants open at least 13 months rose 2 percent in March from a year earlier. The stock slid 0.5 percent to 1,006 yen.
Honda Motor Co. (7267 JT): The automaker will sell vehicles in Europe this year with a mechanism to prevent engine idling, improving fuel efficiency by as much as 10 percent, the Nikkan Jidosha newspaper reported. The stock rose 1.4 percent to 3,380 yen.
JX Holdings Inc. (5020 JT): Nippon Oil Corp., a unit of JX Holdings, plans to sign an agreement by the end of next month to merge its liquefied petroleum gas business with a joint venture formed by Mitsui & Co. (8031 JT) and Marubeni Corp. (8002 JT). JX slid 1.9 percent to 513 yen. Mitsui was unchanged at 1,626 yen. Marubeni rose 0.7 percent to 598 yen.
Kappa Create Co. (7421 JT): The conveyor-belt sushi restaurant chain expects a 39 percent gain in net income to 3 billion yen this fiscal year, with a 7.3 percent advance in sales. Profit in the year ended Feb. 28 rose 20 percent to 2.16 billion yen, Kappa Create said in a statement. That was 17 percent below the company's 2.6 billion yen forecast. The stock advanced 1 percent to 1,846 yen.
Nichi-iko Pharmaceutical Co. (4541 JO): The prescription- drug maker's first-quarter net income more than doubled to 1.07 billion yen from 524 million yen a year earlier, as sales gained 14 percent. The stock rose 0.3 percent to 2,620 yen.
Nidec Corp. (6594 JO): The maker of electrical motors paid special bonuses to 1,600 parent-company employees to compensate for earlier pay cuts, Nikkei English News reported. The stock rose 1.6 percent to 10,050 yen.
Nippon Steel Trading Co. (9810 JT): The steel-products trader said it was approved by the Tokyo Stock Exchange to move the shares to the exchange's first section from its second section as of April 12. The stock climbed 3.1 percent to 201 yen.
Oncotherapy Science Inc. (4564 JT): The pharmaceutical researcher said in a preliminary earnings statement that full- year net income was 469 million yen, 32 percent above its profit outlook, citing gains related to a license contract with Otsuka Pharmaceutical Co. (OTSKZ JP). Oncotherapy rose 0.5 percent to 188,700 yen.
Seven & I Holdings Co. (3382 JT): Seven-Eleven Japan Co., a unit of Seven & I, said it plans to have 20,000 environmentally friendly stores worldwide in five years, about 40 percent of its total locations, Nikkei English News reported. Seven & I rose 1 percent to 2,369 yen.
Shin-Kobe Electric Machinery Co. (6934 JT): The storage battery maker said in a preliminary earnings statement that full-year net income totaled 2.6 billion yen, beating its profit outlook of 1.05 billion yen. The company increased its planned year-end dividend to seven yen from five yen. The stock rose 1.3 percent to 959 yen.
Softbank Corp. (9984 JT): Japan's third- biggest mobile telecommunications provider is in talks to invest in JVC Kenwood Holdings Inc.'s (6632 JT) Victor Entertainment music unit, the Yomiuri newspaper reported. Softbank declined 3.9 percent to 2,247 yen. JVC Kenwood jumped 9.3 percent to 47 yen.
Takashimaya Co. (8233 JT): The retailer's operating profit probably was 13.5 billion yen for the year ended Feb. 28, down 46 percent and more than an estimated 40 percent decline, Nikkei English News said. The stock gained 2.3 percent to 812 yen.
Tosei Corp. (8923 JT): The property developer said first- quarter net income rose 36 percent to 876 million yen on higher sales. The stock slipped 2.3 percent to 26,500 yen.
Toyota Motor Corp. (7203 JT): The automaker plans to recall as many as 20,000 vehicles including Camry and Lexus ES350 sedans in South Korea because of faulty accelerator pedals, the Korea Economic Daily reported, citing industry officials it didn't name. The stock rose 1.1 percent to 3,815 yen.
West Japan Railway Co. (9021 JT): The company's revenue from its railroad operations in Japan fell 6.7 percent in the fiscal year ended March 31, West Japan Railway, known as JR West, said in a statement in Tokyo, without giving an amount. The decline was the biggest since the company was formed in 1987, JR West's President Takayuki Sasaki told reporters in Tokyo. The stock was unchanged at 324,500 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org.