Bals, Casio, Elpida, Honda, Itochu, Sanyo, Toyota: 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.
ABC-Mart Inc. (2670 JT): The shoe retailer’s pretax profit for the quarter ended in May likely rose about 10 percent to more than 7 billion yen ($79.8 million) on sales of women’s shoes and men’s leather sneakers, Nikkei English News reported. The stock slid 0.3 percent to 3,325 yen.
Bals Corp. (2738 JT): The home-furnishing retailer said its same-store sales in June declined 7.6 percent from the same month a year earlier. The stock slumped 2.9 percent to 96,400 yen.
Belc Co. (9974 JT): The supermarket operator’s first quarter net income jumped 69 percent to 657 million yen, the company said. The shares gained 0.9 percent to 855 yen.
Casio Computer Co. (6952 JT): The electronics maker plans to buy back as many as 9 million shares, or a 3.2 percent stake, for as much as 5 billion yen, the company said. The stock climbed 0.4 percent to 537 yen.
Daiichi Sankyo Co. (4568 JT): Ranbaxy Laboratories Ltd. agreed to transfer its drug discovery unit to Daiichi Sankyo India Pharma Pvt., Ranbaxy said. Daiichi Sankyo rose 1.3 percent to 1,595 yen.
DIC Corp. (4631 JT): The ink producer may see operating profit of 8 billion yen in the June quarter, topping a forecast, buoyed by demand in Japan, China and other parts of Asia for home appliance plastics and pigments, Nikkei English News said. The stock was unchanged at 135 yen.
Elpida Memory Inc. (6665 JT): The computer-memory chip maker may start making ultra-small dynamic random access memory chips with three Taiwanese chipmakers this month, Nikkei English News said. The stock lost 2.7 percent to 1,290 yen.
Fast Retailing Co. (9983 JT): The clothier’s domestic sales at its Uniqlo casual clothing chain fell 5.8 percent in June from a year earlier, the company said. The stock gained 0.5 percent to 13,430 yen.
Furukawa Electric Co. (5801 JT): The cable maker’s capital- to-asset ratio for the year ending March 31, 2011, may reach 20.7 percent, the first time in three years it would top 20 percent, Nikkei English News reported. The stock advanced 1.3 percent to 382 yen.
Honda Motor Co. (7267 JT): The company will cut domestic motorcycle prices as much as 30 percent over the next three years to the levels of 10 years ago to stimulate sales, the Yomiuri newspaper said without citing anybody. The stock lost 0.7 percent to 2,495 yen.
Itochu Corp. (8001 JT): The trading house has taken a 20 percent stake in Simbol Mining Corp. to extract lithium from wastewater used during geothermal power generation at a site in California, Nikkei English News reported. The stock slipped 1.7 percent to 696 yen.
Medipal Holdings Corp. (7459 JT): The maker of medical tools and equipment said 93 workers accepted an employee buyout offer and will take a 2.1 billion yen charge for the job cuts. The Japanese pharmaceutical wholesaler had planned to cut 750 jobs. The shares slipped 0.4 percent to 1,048 yen.
NKSJ Holdings Inc. (8630 JT): NKSJ’s Sompo Japan Insurance will spend 200 billion yen over the next three years on overseas mergers and acquisitions, Kyodo News said, citing an interview with President Kengo Sakurada. The shares gained 0.4 percent to 536 yen.
Ohsho Food Service Corp. (9936 JO): The Chinese restaurant operator’s June same-store sales may have fallen 4 percent, the first decline since July 2007, as customer traffic weakened, Nikkei English News reported. The stock gained 1.5 percent to 2,269 yen.
Sanyo Electric Co. (6764 JT): The electronic maker is in talks to sell its semiconductor operations to ON Semiconductor Corp. (ONNN US) of the U.S. for between 20 billion yen and 30 billion yen, Nikkei English News said, citing a Kyodo News report. Sanyo rose 1.8 percent to 114 yen.
Takara Printing Co. (7921 JT): The company reported full- year net income rose 9.6 percent to 723 million yen for the year ended May 31. Operating profit for the same period declined 12 percent to 1.29 billion yen, the company said. The stock increased 0.3 percent to 674 yen.
Toyota Motor Corp. (7203 JT): The company said it plans to recall Lexus models in the U.S. as well as Japan after saying engines in as many as 270,000 vehicles worldwide may have defective valve components that can lead to stalling. The stock added 0.3 percent to 3,020 yen.