Fuji Fire, Hitachi, NEC, Promise, Resona, Toshiba, Toyota: 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.
Chipmakers: Mitsubishi Electric Corp. (6503 JT), Elpida Memory Inc. (6665 JT), Hitachi Ltd. (6501 JT), Toshiba Corp. (6502 JT) and NEC Corp. (6701 JT) are among nine chipmakers who agreed to pay a total of 331.2 million euros ($408.5 million) in the first settlement of a price-fixing case with European Union antitrust regulators. Mitsubishi Electric rose 0.1 percent to 759 yen. Elpida jumped 3.9 percent to 1,709 yen. Hitachi gained 0.5 percent to 383 yen. Toshiba rallied 1.2 percent to 493 yen. NEC increased 0.4 percent to 267 yen.
Asics Corp. (7936 JT): The sporting-goods maker and Asics America Corp. said they have filed a lawsuit alleging trademark infringement, unfair competition, trademark dilution and false advertisting against Skechers USA Inc. (SKX US). The lawsuit also seeks a permanent injunction. The stock dropped 0.5 percent to 837 yen.
Canon Inc. (7751 JT), Nikon Corp. (7731 JT): The companies may see better results for fiscal 2010 from their businesses that provide equipment for semiconductor makers, Nikkei English News said, without citing anyone. Canon lost 1.1 percent to 3,930 yen. Nikon retreated 1.1 percent to 1,858 yen.
Daimei Telecom Engineering Corp. (1943 JT), Commuture Corp. (1932 JT) and Todentsu Corp. (1955 JT): The companies agreed to merge under a holding company. Daimei Telecom slid 2.2 percent to 658 yen. Commuture lost 1 percent to 521 yen. Todentsu fell 1.8 percent to 163 yen.
Daiwa Securities Group Inc. (8601 JT) and Sumitomo Mitsui Financial Group Inc. (8316 JT): The companies will dissolve their private-equity investment venture, they said in separate press releases. Daiwa dropped 0.5 percent to 414 yen. Sumitomo Mitsui fell 0.6 percent to 2,725 yen.
Fuji Fire & Marine Insurance Co. (8763 JT): The casualty insurer posted net income of 4.78 billion yen ($52.2 million) in the year ended March 31. The company lost 59.6 billion yen a year earlier. The stock advanced 2.3 percent to 132 yen.
Honda Motor Co. (7267 JT): The automaker may increase annual automobile production capacity in China by 36 percent to 830,000 vehicles by 2012, Nikkei English News reported, without saying where it got the information. The stock slipped 0.8 percent to 2,985 yen.
Invoice Inc. (9448 JT): The provider of telecommunications billing services said in a preliminary earnings statement full- year net income totaled 2.64 billion yen, beating its profit outlook by 32 percent. The stock rose 0.9 percent to 1,391 yen.
NEC Corp. (6701 JT): Japan’s largest maker of personal computers said investment in its energy business will reach $1.1 billion over the next eight years as the company aims to reinvent itself after a decade-long slide in sales. The stock increased 0.4 percent to 267 yen.
Nishi-Nippon City Bank Ltd. (8327 JT), Bank of The Ryukyus Ltd. (8399 JT): The regional banks may repay their bailout debts as soon as this summer, Nikkei English News reported, without saying how it obtained the information. Nishi-Nippon slipped 0.8 percent to 254 yen. Bank of The Ryukyus dipped 0.4 percent to 1,079 yen.
Noritsu Koki Co. (7744 JO): The maker of photo processing equipment said its full-year net loss widened to 20.9 billion yen from 3.86 billion yen a year earlier. It forecast a profit of 250 million yen this fiscal year. The stock rallied 3.6 percent to 684 yen.
Promise Co. (8574 JT): Japan’s second-largest consumer lender by market value will offer payments to quit to 900 employees next month. The company expects to take a charge of about 7.5 billion yen this fiscal year, and expect to save about 3.8 billion yen in labor costs in the same period, according to a statement. The stock advanced 3.1 percent to 693 yen.
Resona Holdings Inc. (8308 JT): Japan’s fourth-largest bank said it wants the government to sell part of 1.67 trillion yen in preference shares it holds by November. The stock gained 0.2 percent to 1,072 yen.
Sanrio Co. (8136 JT): Shintaro Tsuji, president of the maker of Hello Kitty products, said the company may pay an anniversary dividend for the first half. He declined to say how much the dividend may be. Tsuji was speaking at a briefing for analysts. The stock fell 0.9 percent to 858 yen.
Shinkin Central Bank (8421 JT): The lender’s full-year net income amounted to 29.2 billion yen, reversing the previous year’s loss of 182.5 billion yen. The stock sank 1.5 percent to 160,000 yen.
T&D Holdings Inc. (8795 JT): The life insurer said it expects a 36 percent gain in net income to 33 billion yen this fiscal year. The stock slipped 1.7 percent to 2,076 yen.
Toyota Motor Corp. (7203 JT): The automaker will recall Passo subcompact vehicles in Japan to fix engine problems, the Tokyo Shimbun newspaper reported, without saying where it obtained the information. Daihatsu Motor Co. (7262 JT) also sells the same vehicle, badged as the Daihatsu Boon, the newspaper said. Toyota slid 0.6 percent to 3,510 yen. Daihatsu sank 1.3 percent to 862 yen.