Honda, Kura, Park24, Pioneer, Ryoyo, Sharp, Sony: Japanese 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.
Hachi-Ban Co. (9950 JQ): The franchiser of noodle shops said it will retire 5.87 percent of its outstanding shares on June 10. The stock rose 1 percent to 304 yen.
Hitachi Ltd. (6501 JT): The maker of products from nuclear power systems to kitchen appliances plans to reconfigure its nuclear businesses, Nikkei English News said, citing an interview with President Hiroaki Nakanishi. The stock rose 0.5 percent to 372 yen.
Honda Motor Co. (7267 JT): Japan’s second-biggest automaker will raise workers’ monthly wages after a parts factory strike shut down almost all Chinese production. The workers will receive a 24 percent pay increase to 1,910 yuan ($280 dollars) a month, the Tokyo-based company said in a faxed statement. Most workers have accepted the offer, while talks continue with those who are unsatisfied, Honda said. The stock slipped 0.3 percent to 2,770 yen.
Kura Corp. (2695 JT): The sushi restaurant chain said first-half net income more than doubled to 1.56 billion yen ($17.1 million) from 741 million yen a year earlier as sales grew. The stock rose 0.4 percent to 1,449 yen.
Marubeni Corp. (8002 JT): The trading house won a 90 billion yen contract to build a coal-fired power plant in Vietnam, Nikkei English News said. The stock slid 1.4 percent to 507 yen.
Mitsui & Co. (8031 JT): The trading house said it may have to pay for part of the Gulf of Mexico oil spill because one of its units has a 10 percent stake in the block where the leak is occurring, the Wall Street Journal reported, citing an unidentified company spokesman. The stock sank 2 percent to 1,294 yen.
Nippon Steel Corp. (5401 JT): The steelmaker will raise steel prices by more than 30 percent for the July-September period to pass on increasing material costs, the Asahi newspaper reported. The stock rose 0.6 percent to 319 yen.
Park24 Co. (4666 JT): The parking-lot operator said first- half net income rose 22 percent to 3.06 billion yen on a 28 percent gain in sales. The stock climbed 1.3 percent to 943 yen.
Pioneer Corp. (6773 JT): The maker of car-navigation systems and audio equipment said net income may rise to 21 billion yen for the year ending March 2013 as it increases overseas sales. The stock rose 0.6 percent to 337 yen.
Ryoyo Electro Corp. (8068 JT): The electronic-components wholesaler turned to first-quarter net income of 984 million yen from a loss a year earlier, buoyed by surging demand in emerging countries and lower administration costs. The stock advanced 1.8 percent to 905 yen.
Sharp Corp. (6753 JT): The electronics maker will start selling 3-D televisions from July 30, the Osaka-based company said in a statement. The stock slid 0.8 percent to 992 yen.
Shinsei Bank Ltd. (8303 JT): The lender won’t consider a merger with another company for at least two years, the Asahi newspaper reported, citing an interview with Shigeki Toma, who will become president on June 23. Shinsei must first strengthen its finances, the newspaper cited Toma as saying. The stock lost 3.2 percent to 90 yen.
Sony Corp. (6758 JT): The electronics maker will offer 3-D game titles for its PlayStation 3 console from June 10, the Tokyo-based company said in a statement. The stock lost 0.8 percent to 2,816 yen.
Tsuruha Holdings Inc. (3391 JT): The drugstore chain said same-store sales in the month ended May 15 dropped 0.8 percent from a year earlier, dragged down by a 3.2 percent decline in customer traffic. The stock gained 1.7 percent to 3,065 yen.