Brother, Cosmo Oil, NTN, Promise, Shinsei, Sony, Toshiba: 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.
Brother Industries Ltd. (6448 JT): The office equipment maker said full-year net income rose 29 percent to 19.6 billion yen ($210 million), aided by lower administration costs. It expects profit to drop 5.8 percent to 18.5 billion yen this fiscal year. The stock lost 0.1 percent to 1,055 yen.
Cosmo Oil Co. (5007 JT): The company, partly owned by the government of Abu Dhabi, will appoint United Arab Emirates Energy Minister Mohamed Al-Hamli as a director of the board in June, the company said in a statement. Separately, the oil refiner and distributor said it expects to turn to a net income of 18 billion yen this fiscal year. The stock gained 2.9 percent to 249 yen.
Dainippon Screen Manufacturing Co. (7735 JT): The chip- equipment maker said its full-year operating loss more than tripled to 14 billion yen from 4.51 billion yen a year earlier, as sales dropped by a quarter. The company expects to turn to an operating profit of 11 billion yen this fiscal year on sales growth. The stock rose 0.4 percent to 502 yen.
Fabrica Toyama Corp. (3129 JO): Shibuya Kogyo Co. (6340 JT), a maker of machines for bottling and packaging, said it will pay 0.2 share for each Fabrica Toyama share to make it a wholly owned subsidiary. Fabrica Toyama was unchanged at 150 yen. Shibuya Kogyo rose 1.1 percent to 751 yen.
Furukawa Electric Co. (5801 JT): The wire and cable producer expects a 13 percent gain in net income to 11 billion yen this fiscal year on sales growth. The stock advanced 0.9 percent to 448 yen.
Hamamatsu Photonics K.K. (6965 JT): The maker of electron tubes and semiconductors said first-half net income almost quadrupled to 4.88 billion yen from 1.23 billion yen a year earlier, with rising sales. The stock gained 1.8 percent to 2,600 yen.
Isuzu Motors Ltd. (7202 JT): The automaker may move ahead with plans to double its capacity to produce trucks in China to 200,000 vehicles annually by about 2015, Nikkei English News reported. The stock advanced 1.1 percent to 282 yen.
Japan Steel Works Ltd. (5631 JT): The maker of machinery for casts, forged steel and plastics said it expects net income to fall 20 percent to 14 billion yen this fiscal year. Profit in the year ended March 31 rose 9.3 percent to 17.5 billion yen, buoyed by smaller charges related to its fixed assets and investment securities. The stock rose 0.4 percent to 980 yen.
Mizuho Financial Group Inc. (8411 JT): The lender will sell about 1 trillion yen in new shares to the public to bolster its capital, the Yomiuri newspaper reported. The stock rose 0.6 percent to 171 yen.
Nihon Spindle Manufacturing Co. (6242 JT): Sumitomo Heavy Industries Ltd. (6302 JT) will make Nihon Spindle a wholly owned subsidiary. Sumitomo Heavy will pay 0.38 share for each share of Nihon Spindle, the companies said in a joint statement. Nihon Spindle gained 2.6 percent to 160 yen.
NTN Corp. (6472 JT): The machinery-parts maker’s full-year net loss was 2 billion yen, narrower than its loss forecast of 3.5 billion yen, according to a preliminary earnings statement. The stock advanced 1.9 percent to 384 yen.
Orix Corp. (8591 JT): The finance company said full-year operating profit plunged 45 percent to 29.6 billion yen, with falling revenue. The company forecast net income will rise 51 percent to 57 billion yen this fiscal year. The stock jumped 3.9 percent to 8,240 yen.
Promise Co. (8574 JT): Japan’s second-largest consumer lender by market value returned to a full-year profit and cut its planned full-year dividend in half to 10 yen a share. The stock rallied 3.1 percent to 863 yen.
Shinsei Bank Ltd. (8303 JT): The Japanese lender partly owned by U.S. investor J. Christopher Flowers posted its second straight full-year loss on additional charges for its consumer- lending unit and increased provisions for domestic real-estate lending. The stock slid 0.9 percent to 116 yen.
Sony Corp. (6758 JT): The maker of Bravia televisions and Cyber-shot cameras reported a smaller loss than the company forecast, citing bigger-than-expected cost reductions along with gains from its life insurance unit. The stock rose 0.7 percent to 3,080 yen.
Sugi Holdings Co. (7649 JT): The drugstore chain said same- store sales in April dropped 4.5 percent from the same month a year earlier, dragged down by lower customer traffic. The stock advanced 1.9 percent to 2,040 yen.
Sumitomo Heavy Industries Ltd. (6302 JT): The machine producer’s full-year operating profit fell by half to 28.3 billion yen. The stock rose 0.7 percent to 571 yen.
Sumitomo Mitsui Financial Group Inc. (8316 JT): The lender may list on the New York Stock Exchange as early as November as it seeks to expand its overseas business, the Tokyo Shimbun said. Separately, the Asahi newspaper reported Sumitomo Mitsui Financial will raise the limit on the number of allowable outstanding shares. The stock advanced 1.4 percent to 2,921 yen.
Suzuki Motor Corp. (7269 JT): Japan’s second-largest maker of mini-cars said net income will probably increase 3.8 percent to 30 billion yen this fiscal year, driven by rising sales in India. The stock increased 1.5 percent to 1,858 yen.
Tokyo Electric Power Co. (9501 JT): Asia’s biggest utility agreed to buy a 9.2 percent stake in the South Texas nuclear project for 12 billion yen from Nuclear Innovation North America LLC (2749893Z US), the utility said in a statement. Tokyo Electric gained 1 percent to 2,346 yen.
Toshiba Corp. (6502 JT): The electronics maker plans to spend 2.4 trillion yen on capital investment and research and development over the next three years, Nikkei English News reported. The stock slid 0.6 percent to 518 yen.
Ushio Inc. (6925 JT): The maker of lamps and optical equipment said full-year operating profit fell 19 percent to 7.26 billion yen. The company expects a 38 percent gain in operating profit to 10 billion yen this fiscal year on sales growth. The stock climbed 1.4 percent to 1,508 yen.