Idemitsu, Shin-Etsu, Takashimaya, Yokohama Rubber: 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.
Asahi Breweries Ltd. (2502 JT): Japan’s beermaker may report a group operating profit of about 22.5 billion yen ($252 million) for the six months ending June 30, about 5 percent higher than a year earlier, Nikkei English News reported. The stock was unchanged at 1,576 yen.
Canon Machinery Inc. (6344 JO), Tokki Corp. (9813 JQ): Canon Inc. (7751 JT) offered to buy out the two companies effective Oct. 1. Canon Machinery increased 0.5 percent to 2,010 yen. Tokki declined 3.8 percent to 378 yen. Canon slid 1.1 percent to 3,490 yen.
Idemitsu Kosan Co. (5019 JT): The oil refiner said it plans to process 4 percent less crude oil in July through September because of weak demand for fuel. The stock slid 1.9 percent to 6,670 yen.
Lion Corp. (4912 JT): The household products maker may post a group operating profit of about 2.2 billion yen for the six months ending June 30, Nikkei English News reported. The operating profit would be 200 million yen more than forecast, Nikkei reported. The stock declined 1.1 percent to 460 yen.
Mitsui & Co. (8031 JT): The trading house signed Japan’s first swap to lock in iron-ore prices with Credit Suisse Group AG, the Financial Times reported, citing the companies. The stock fell 1.9 percent to 1,111 yen.
Right On Co. (7445 JT): The retailer of jeans and casual wear cut its full-year dividend forecast to 10 yen a share from 20 yen. The company said net income for the nine months ended May 20 fell 77 percent to 424 million yen ($4.74 million) from a year earlier. The stock retreated 0.3 percent to 693 yen.
Satori Electric Co. (7420 JT): The trader of electronic equipment said in preliminary earnings statement its full-year net income increased to 1.1 billion yen from its 900 million yen forecast. The stock declined 1.5 percent to 664 yen.
Shin-Etsu Chemical Co. (4063 JT): The maker of chemicals and resin said it plans to invest 8.5 billion yen to build a silicone factory in China. The stock climbed 0.1 percent to 4,465 yen.
Takashimaya Co. (8233 JT): The department-store operator raised its full-year net income forecast to 11 billion yen from 8 billion yen. The company said it plans to terminate its U.S. operations to relocate resources to faster-growing markets in Asia. The stock fell 1.5 percent to 745 yen.
Tokio Marine Holdings Inc. (8766 JT): The casualty insurer said it plans to buy back as many as 16 million shares, or 2 percent of its stock, for as much as 25 billion yen. The stock gained 0.5 percent to 2,358 yen.
Yokohama Rubber Co. (5101 JT): The Japanese tiremaker said it plans to invest 9.7 billion yen to expand production capacity at a plant in Thailand. The stock dropped 0.7 percent to 425 yen.
Zojirushi Corp. (7965 JO): The maker of electric kitchen appliances said first-half net income jumped 74 percent to 1.07 billion yen from a year earlier. The stock gained 0.5 percent to 215 yen.