JR Central, Honda, NEC, Nomura, DoCoMo, Takeda: Japanese Equity Preview
The following companies may have unusual price changes in Japanese trading on April 30. Markets will be closed tomorrow for a national holiday. 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.
Central Japan Railway Co. (9022 JT): Parent of Japan’s largest bullet-train maker said full-year net income fell 27 percent to 91.8 billion yen ($984 million), with a slip in sales. It expects profit to rise 5.7 percent to 97 billion yen this fiscal year. Also, the company said it will delay the planned opening of a Tokyo to Nagoya magnetic levitation railway to 2027 from 2025. The stock lost 3.9 percent to 719,000 yen.
Haseko Corp. (1808 JT): The general contractor said in a preliminary earnings statement full-year net income was 5.8 billion yen, missing its projection by 17 percent, as sales fell more-than-expected. The stock was unchanged at 96 yen.
Honda Motor Co. (7267 JT): Japan’s second-largest carmaker forecast net income will rise 27 percent to 340 billion yen this fiscal year as vehicle demand recovers amid the improving global economy. The stock slipped 1.5 percent to 3,285 yen.
Idemitsu Kosan Co. (5019 JT): The oil refiner said full- year operating profit plunged 57 percent to 44.5 billion yen as sales fell. The company expects operating profit to rise 13 percent to 50 billion yen as sales recover. The stock fell 0.6 percent to 7,740 yen.
Japan Tobacco Inc. (2914 JT): The world’s third-largest publicly traded cigarette maker forecast a 3.9 percent drop in net income to 133 billion yen this fiscal year. Profit in the year ended March 31 rose 12 percent to 138.4 billion yen. The stock slipped 0.3 percent to 311,000 yen.
Komori Corp. (6349 JT): The offset printer maker’s full- year net loss was 10.5 billion yen, wider than its 6 billion yen loss forecast, with less-than-expected sales, according to a preliminary earnings statement. The stock slumped 3.8 percent to 1,251 yen.
Mabuchi Motor Co. (6592 JT): The maker of motors for digital-cameras said first-quarter net income fell 44 percent to 1.61 billion yen, dragged down by stock devaluation charges. Operating profit in the quarter amounted to 1.72 billion yen, compared with a 1.29 billion yen loss a year earlier, on a 63 percent surge in sales, Mabuchi said in a release. The stock slipped 1.1 percent to 5,270 yen.
Mitsubishi Rayon Co. (3404 JT): The synthetic fiber maker said in a preliminary earnings statement full-year net loss was 5 billion yen, narrower than its 11 billion yen loss forecast. Separately, Mitsubishi Chemical Holdings Corp. (4188 JT), Japan’s biggest chemicals maker, will offer 0.8 share for each Mitsubishi Rayon share to make it a wholly owned unit, the companies said in a joint statement. Mitsubishi Rayon declined 1.5 percent to 388 yen. Mitsubishi Chemical fell 1.4 percent to 487 yen.
NEC Corp. (6701 JT): Japan’s largest maker of personal computers said in a preliminary earnings statement full-year operating profit was 51 billion yen, short of its estimate by 15 percent, with less-than-expected sales. Net income totaled 11 billion yen, beating its 10 billion yen forecast, buoyed by increased gains from affiliates, NEC said. The stock lost 1.3 percent to 305 yen.
Nisshinbo Holdings Inc. (3105 JT): The textile maker said in a preliminary earnings statement its full-year net income was 1.9 billion yen, 90 percent more than its forecast. The stock fell 3.2 percent to 936 yen.
Nomura Holdings Inc. (8604 JT): Japan’s biggest brokerage posted a fourth-quarter profit as trading and fee income rose and staff costs declined. Net income was 18.4 billion yen for the three months ended March 31, compared with a loss of 215.8 billion yen a year earlier, the company said. Profit compares with the 19.5 billion yen average estimate of seven analysts surveyed by Bloomberg. The stock slid 1.1 percent to 662 yen.
NTT DoCoMo Inc. (9437 JT): Japan’s largest mobile-phone operator said net income will rise 0.4 percent to 497 billion yen this fiscal year. The outlook compares with the 503.5 billion yen average of 20 analyst estimates compiled by Bloomberg. The stock lost 2 percent to 145,700 yen.
Showa Denko K.K. (4004 JT): The world’s second biggest hard-disk maker raised its first-half net income forecast 33 percent to 4 billion yen, citing recovering demand in electronics and car industries. The company also said it will invest about 10 billion yen to increase hard disk production capacity in Singapore. The stock sank 2.8 percent to 206 yen.
Stanley Electric Co. (6923 JT): The headlight maker said it expects a 17 percent rise in net income to 20 billion yen this fiscal year on growing sales. The stock rose 1 percent to 1,913 yen.
Sumitomo Mitsui Financial Group Inc. (8316 JT): Japan’s second-biggest bank by market value said in a preliminary earnings statement its full-year net income was 270 billion yen, 23 percent more than its forecast. The company also raised its planned year-end dividend to 55 yen from 45 yen. The stock slid 1.6 percent to 3,185 yen.
Sumitomo Osaka Cement Co. (5232 JT): The cement maker said in a preliminary earnings statement it had a full-year net loss of 850 million yen, reversing its profit outlook, because of falling sales. The stock dropped 1.1 percent to 180 yen.
Takeda Pharmaceutical Co. (4502 JT): Asia’s biggest drugmaker said it expects generic versions of its Actos diabetes drug to enter the U.S. market by Aug. 17, 2012. The Osaka-based drugmaker also said it settled Actos patent litigation with six of eight defendants. Takeda retreated 2 percent to 3,920 yen.
West Japan Railway Co. (9021 JT): Japan’s third-largest rail operator by market value said it expects a 13 percent advance in net income to 28 billion yen this fiscal year. Profit in the year ended March 31 plunged 54 percent to 24.9 billion yen, with falling sales, the company said in a release. The stock declined 3.9 percent to 330,000 yen.
Yamato Holdings Co. (9064 JT): Japan’s biggest parcel- delivery service company posted a 27 percent advance in full- year net income to 32.3 billion yen. It expects profit will rise 5.3 percent to 34 billion yen this fiscal year. The stock slipped 2.3 percent to 1,315 yen.