Fujikura, Fujitsu, Netmarks, NSK, Relo, Riso Kyoiku, Up: Equity Preview
The following companies may have unusual price changes in Japanese trading on May 24. 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.
Fujikura Ltd. (5803 JT), Sumitomo Electric Industries Ltd. (5802 JT), Furukawa Electric Co. (5801 JT) and two other makers of optic-fiber products were fined a total of 16.1 billion yen ($179 million) for price fixing, Japan’s Fair Trade Commission said in a statement on its website. Fujikura lost 1.4 percent to 422 yen. Sumitomo Electric fell 2 percent to 1,085 yen. Furukawa slid 2 percent to 385 yen.
Fujitsu Ltd. (6702 JT): Japan’s biggest computer-services provider said auditors rejected former President Kuniaki Nozoe’s request that they sue company executives for failing investors by not selling its Nifty subsidiary. Fujitsu sank 2.8 percent to 596 yen.
Netmarks Inc. (3713 JT): Nihon Unisys Ltd. (8056 JT), a computer software developer, will turn Netmarks into a wholly owned subsidiary. Nihon Unisys will pay 25 shares for each Netmarks share, the companies said in a joint press release. Netmarks lost 4.1 percent to 14,000 yen. Nihon Unisys slid 2.9 percent to 644 yen.
NSK Ltd. (6471 JT): The bearing maker will spend 10 billion yen to set up a unit in China to make large roller bearings. NSK plans to begin production in December, according to a statement. The stock fell 1.5 percent to 649 yen.
Relo Holdings Inc. (8876 JQ): The property manager plans to raise as much as 1.47 billion yen by selling existing shares to use funds for debt repayments. The company also said the Tokyo Stock Exchange approved it to list the shares on the bourse’s second section on June 14. Relo declined 1 percent to 1,450 yen.
Riso Kyoiku Co. (4714 JT): The cram school operator said it will spend as much as 200 million yen to repurchase up to 0.9 percent of its total shares. The stock slumped 1.2 percent to 4,930 yen.
Up Inc. (9630 JT): Benesse Holdings Inc. (9783 JO), an educational-services provider, plans to raise its stake in UP to 15 percent by March 31 next year as part of a capital alliance. Benesse currently owns 4.65 percent of Up, according to a statement. Up lost 2.6 percent to 490 yen. Benesse slid 0.8 percent to 4,150 yen.