FamilyMart, Honeys, Izumi, Renesas, Union Tool: 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.
Ezaki Glico Co. (2206 JT), Kirin Holdings Co. (2503 JT): Kirin plans to outsource sales of chilled drinks to Ezaki Glico, Nikkei English News reported. The agreement covers drinks such as tea and juice made by Kirin Beverage Co., Nikkei said. Ezaki Glico fell 0.2 percent to 1,060 yen. Kirin lost 0.5 percent to 1,125 yen.
FamilyMart Co. (8028 JT): The convenience-store operator’s first-quarter operating profit rose 3.3 percent to 8.69 billion yen ($98.8 million) on an 11 percent gain in revenue. The stock increased 1.3 percent to 3,145 yen.
Honeys Co. (2792 JT): The apparel maker expects a 28 percent gain in net income to 2.25 billion yen this fiscal year. Profit in the year ended May 31 fell 13 percent to 1.76 billion yen, with a drop in sales. The stock advanced 1 percent to 1,165 yen.
Izumi Co. (8273 JT): The shopping-center operator said first-quarter net income fell 28 percent to 2.01 billion yen, aided by lower personnel and utility costs. The stock rose 0.7 percent to 1,219 yen.
Mandom Corp. (4917 JT): The cosmetics maker may have posted a 5 percent drop in operating profit for the three months ended in June on weaker sales of cosmetics in Japan, Nikkei English News reported. The stock rose 0.1 percent to 2,385 yen.
Maxvalu Tokai Co. (8198 JT): The supermarket chain said first-quarter net income rose 21 percent to 327 million yen on sales growth. The stock slipped 0.6 percent to 1,002 yen.
Nichi-iko Pharmaceutical Co. (4541 JO): The prescription- drug maker’s first-half net income rose 15 percent to 1.86 billion yen on growing sales. The company also said it has agreed to a business alliance with Zurich-based DKSH International Ltd. to jointly market generic drugs in Southeast Asia. Nichi-iko Pharmaceutical sank 2.4 percent to 3,305 yen.
Okaya & Co. (7485 JN): The steel and machinery trader doubled its first-half net income forecast to 2 billion yen, citing favorable exports on its electronics parts and steel products. The stock rose 0.1 percent to 961 yen.
Poplar Co. (7601 JT) and Tsuruha Holdings Inc. (3391 JT): The retailers agreed to cooperate in developing products and supply them to each other. The companies made the announcement in a joint statement. Poplar, a convenience store chain, fell 1 percent to 498 yen. Tsuruha, a drugstore chain, advanced 2 percent to 3,335 yen.
Renesas Electronics Corp. (6723 JT): The chipmaker will buy Nokia Oyj’s (NOK1V FH) wireless modem business for $200 million. The companies will also jointly develop next-generation modem technology, Renesas said in a statement. Renesas rose 0.5 percent to 757 yen.
Showa Denko K.K. (4004 JT): The chemical products maker may have posted operating profit exceeding a previous forecast by about 1 billion yen as its electronics and aluminum units returned to profitability, Nikkei English News reported. The stock rose 0.6 percent to 161 yen.
Union Tool Co. (6278 JT): The maker of drill bits turned to a first-half net income of 1.01 billion yen from a loss a year earlier, with a 41 percent jump in sales. The stock lost 0.1 percent to 2,215 yen.