Dentsu, Izumi, Onward, Sugi, Takashimaya: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading on April 12. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.
(Adds items on Best Denki, Bridgestone, Chiyoda, DIC, DCM, Furuno Electric, Mitsubishi Motors, Mitsui & Co., Mitsui Chemicals, Murata, Orix, Sharp and Panasonic.)
Best Denki Co. (8175 JT): The Japanese electronics retailer said in a preliminary earnings statement its net loss totaled 39.8 billion yen ($427 million) for the 12 months ended Feb. 28, compared with an earlier projection of 30.2 billion yen. The stock rose 3.7 percent to 284 yen.
Bridgestone Corp. (5108 JT)?The tiremaker has recalled some of its Potenza and Turenza tires for light vehicles because of noncompliance with U.S. safety standards, the National Highway Traffic Safety Administration said in an e-mailed statement. The stock gained 0.1 percent to 1,535 yen.
Chiyoda Corp. (6366 JT): The plant engineering company said it swung to a 1.23 billion yen full-year net loss from 400 million yen profit a year earlier. The company expects net income to rise to 1.19 billion yen for the current fiscal year. The stock fell 0.5 percent to 918 yen.
Daikin Industries Ltd. (6367 JT): The air conditioner maker recalled some models of its air purifiers after identifying a defect in the electrical dust collector, the company said on its Web site. The stock rose 0.4 percent to 3,830 yen.
DIC Corp. (4631 JT): The chemical company’s group operating profit may have increased 6 percent to almost 27 billion yen in the last fiscal year, about 1 billion yen higher than forecast, Nikkei English News reported. The stock climbed 1.4 percent to 214 yen.
DCM Japan Holdings Co. (3050 JT): The company may have group net profit of about 6.5 billion yen for the current fiscal year ending February 2011, Nikkei English News said. The company likely had a net profit of 1.5 billion yen for the year ended in February, while sales in the current year are likely to drop about 1 percent to 420 billion yen, Nikkei reported. The stock declined 1.1 percent to 561 yen.
Dentsu Inc. (4324 JT): Japan’s largest advertising company’s full-year net income was 27.5 billion yen, 12 percent more than its profit forecast, according to a preliminary earnings statement. The stock rose 2.9 percent to 2,600 yen.
Furuno Electric Co. (6814 JO): The maker of marine equipment’s full-year net loss was 3.2 billion yen, compared with its 3.6 billion yen loss forecast, according to a preliminary earnings statement. The stock rose 0.7 percent to 448 yen.
Izumi Co. (8273 JT): The shopping center operator expects an 11 percent rise in net income to 9.7 billion yen for the current fiscal year. Profit for the previous fiscal year fell 31 percent to 8.75 billion yen. Also, the company will retire 11.37 percent of its outstanding shares on May 31. The stock gained 2 percent to 1,306 yen.
Mitsubishi Motors Corp. (7211 JT): The automaker plans to start producing subcompact cars in Thailand, and has presented its production plan outline to the Thai government, Nikkei English News reported. The stock rose 1.5 percent to 133 yen.
Mitsui & Co. (8031 JT): The trading company will form a joint venture with China’s New Hope Group Co. to buy and sell ingredients for animal feed in China, Nikkei English News reported. The stock fell 0.6 percent to 1,611 yen.
Mitsui Chemicals Inc. (4183 JT): The chemical maker intends to increase output of its proprietary rice seeds and boost sales in Japan, China and other countries, Nikkei English News reported. The stock rose 2.1 percent to 298 yen.
Murata Manufacturing Co. (6981 JO): The company may report a consolidated operating profit of about 57 billion yen for the year through March 2011, more than double the forecast for fiscal 2009, Nikkei English News reported. The stock lost 0.2 percent to 5,290 yen.
Nippon Coke & Engineering Co. (3315 JT): The distributor of coal, coke and construction materials said a unit will sell a 28.33 percent stake in Togara North JV, a coal mining project in Australia, for about 3.6 billion yen. Nippon Coke jumped 14 percent to 172 yen.
Onward Holdings Co. (8016 JT): The apparel maker said it expects a 60 percent jump in full-year net income to 3.5 billion yen. Operating profit for the year ended Feb. 28 plunged 52 percent to 4.38 billion yen. The shares rose 2.6 percent to 785 yen.
Orix Corp. (8591 JT): The finance company will seek business opportunities in China including energy conservation, solar and wind power and water treatment, in partnership with the Chinese Academy of Sciences, Nikkei English News reported. The stock gained 1.2 percent to 8,260 yen.
Pasona Group Inc. (2168 JT): The temporary staff services provider said its nine-month net loss widened to 1.4 billion yen from 607 million yen a year earlier. The stock lost 1.6 percent to 62,300 yen.
Ringer Hut Co. (8200 JT): The noodle restaurant chain expects net income to rise to 680 million yen for this fiscal year. The company earned 521 million yen a year earlier. The stock climbed 0.4 percent to 1,033 yen.
Round One Corp. (4680 JT): The bowling alley operator’s same-store sales in March fell 4.7 percent from the same month a year earlier. The stock gained 5.4 percent to 646 yen.
Sakata Seed Corp. (1377 JT): The seed wholesaler turned to a nine-month net income of 1.13 billion yen from a 927 million yen loss a year earlier, buoyed by smaller losses on foreign exchanges and stock valuations. The stock rose 0.8 percent to 1,258 yen.
Sharp Corp. (6753 JT), Panasonic Corp. (6752 JT): The electronics makers will run new LCD-panel plants at full capacity faster than previously planned to meet demand from customers such as Sony Corp. (6758 JT) and Toshiba Corp. (6502 JT), Nikkei English News reported. Sharp gained 1.2 percent to 1,203 yen. Panasonic climbed 0.9 percent to 1,423 yen.
Sugi Holdings Co. (7649 JT): The drugstore chain said same- store sales in March dropped 3.3 percent from the same month a year earlier, dragged down by lower customer traffic. The stock retreated 3.2 percent to 2,240 yen.
Takashimaya Co. (8233 JT): The department-store chain said full-year net income fell 34 percent to 7.71 billion yen, with a 10 percent drop in revenue. The retailer expects a 3.8 percent increase in profit to 8 billion yen for the current fiscal year. The stock gained 0.9 percent to 820 yen.