Gunze, Osaka Gas, SBI Holdings, Teijin, Toshiba: 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.
Benesse Holdings Inc. (9783 JO), Lawson Inc. (2651 JT) and Gulliver International Co. (7599 JT): The companies plan to form a group to develop safety guidelines to change gasoline-powered vehicles to run on batteries, Nikkei English News reported. Benesse slid 0.1 percent to 3,995 yen. Lawson rose 0.8 percent to 3,825 yen. Gulliver advanced 0.8 percent to 3,360 yen.
Fujitsu Ltd. (6702 JT) and Toshiba Corp. (6502 JT): The electronics makers agreed to integrate their cellular telephone businesses and they may form a joint venture as early as October, Nikkei English News reported. Fujitsu rose 2.1 percent to 587 yen. Toshiba gained 3 percent to 483 yen.
Gunze Ltd. (3002 JT): The maker of underwear, socks and textiles said it will buy back as much as 0.5 percent of its shares. The stock rose 1 percent to 294 yen.
Osaka Gas Co. (9532 JT): Japan’s second-biggest distributor of natural gas said fuel sales rose 12 percent in May. The stock advanced 0.6 percent to 323 yen.
SBI Holdings Inc. (8473 JT): The venture-capital and financial-services company will sell new shares to the public for 11,834 yen each to raise as much as 38.4 billion yen ($419 million), according to a filing with Japan’s finance ministry. The stock slipped 1.5 percent to 12,200 yen.
Teijin Ltd. (3401 JT): The textile maker will sell its Teijin Monofilament Germany GmbH unit to Serafin Privat Holding of Germany, Teijin said in a release before the close of trading on June 16. Teijin gained 2.3 percent to 267 yen.
Toshiba Corp. (6502 JT), NSK Ltd. (6471 JT): Toshiba, Japan’s biggest chipmaker, may set up an auto-parts venture with bearing producer NSK to win more business from carmakers, four people familiar with the plan said. Toshiba rallied 3 percent to 483 yen. NSK rose 1.6 percent to 682 yen.
Toyota Motor Corp. (7203 JT): The automaker will build its second automobile assembly plant in Brazil after halting the plans during the financial crisis, Nikkei English News reported. Separately, Japanese broadcaster NHK reported Toyota will soon resume construction of a plant in Mississippi to begin production of Corolla cars during the latter half of next year. Also, Toyota told its suppliers that it may be forced stop an assembly line in Tianjin, China, as early as June 17 because of a strike at a parts factory in the same city, the Asahi newspaper said. The stock rose 1.2 percent to 3,330 yen.