Fujikura, Fujitsu, Netmarks, NSK, Relo, Riso Kyoiku, Up: 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 previous close. The information in each item was released after markets shut, unless stated otherwise.
Aeon Co. Ltd. (8267 JT): The supermarket operator and Parco Co. Ltd. (8251 JT) are in competition with other firms to buy the Seibu department store in the Yurakucho district, which is scheduled to close at the end of the year, Nikkei English News reported, without saying how it obtained the information. Aeon lost 1 percent to 959 yen. Parco slipped 1.9 percent to 782 yen.
Elpida Memory Inc. (6665 JT): The chip company expects group operating profit for the year ending March 2011 will top 150 billion yen ($1.7 billion), Nikkei English News reported, citing an interview with President Yukio Sakamoto. The stock declined 1.3 percent to 1,614 yen.
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.
JFE Holdings Inc. (5411 JT): The steel producer will spend 1 trillion yen over the next three years to expand businesses in other parts of Asia, the Tekko Shimbun newspaper reported, citing an interview with President Hajime Bada. The stock slipped 1.4 percent to 2,920 yen.
JX Holdings Inc. (5020 JT): The petrochemical company’s Nippon Oil unit plans to invest about 20 billion yen to begin commercial production of a new biofuel in Southeast Asia by fiscal 2015, Nikkei English News said, without citing anyone. The stock dropped 3.9 percent to 474 yen.
Mitsui O.S.K. Lines Ltd. (9104 JT): The shipping line will double container service between Japan and the Russian Far East to four times a month, Nikkei English News reported. The stock fell 1.5 percent to 608 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.
Renown Inc. (3606 JT): Shandong Ruyi Group, a Chinese textile and apparel manufacturer, said it expects to sign a contract soon to acquire a stake in the Japanese clothing maker. Shandong Ruyi will pay about 4 billion yen for 40 percent ownership in Renown, the Nikkei newspaper reported earlier. The stock slid 2.8 percent to 141 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.
Toshiba Corp. (6502 JT) aims to start selling low-energy lighting in emerging markets including China and Russia this year, Nikkei English News reported, without saying how it obtained the information. The stock fell 0.4 percent to 467 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.