Elpida, Japan Tobacco, Kyocera, Murata, Nissan Motor, Sony: 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.
Acom Co. (8572 JT): Japan’s largest consumer lender by market value said first-quarter net income fell 10 percent to 6.52 billion yen ($75 million) as new government lending rules curbed borrowing. The stock gained 2 percent to 1,428 yen.
Elpida Memory Inc. (6665 JT): Japan’s sole maker of computer-memory chips reported first-quarter net income of 30.7 billion yen on demand from computers, smartphones and digital televisions. The stock rose 1.2 percent to 1,359 yen.
Fuji Logistics Co. (9061 JT): Mitsubishi Logistics Corp. (9301 JT), a warehousing company, is poised to begin a tender offer for a stake of more than 50 percent in Fuji Logistics Co. in a transaction that may total 10 billion yen, Nikkei English News reported. Mitsubishi Logistics and Fuji Logistics said that they are not the sources of the report.
Fuji Electric Holdings Co. (6504 JT), which owns 27.4 percent of Fuji Logistics, and Toyota Industries Corp. (6201 JT), which has 26 percent, will back the proposal, Nikkei said. Fuji Logistics was last traded on July 27, sliding 2.5 percent to 195 yen. Mitsubishi Logistics dropped 1.8 percent to 1,025 yen. Fuji Electric Holdings declined 0.4 percent to 244 yen. Toyota Industries slipped 0.3 percent to 2,393 yen.
Fujitsu Ltd. (6702 JT): Japan’s biggest computer-services provider tripled its first-half net income forecast to 15 billion yen, citing cost cuts. The stock retreated 2 percent to 589 yen.
Honda Motor Co. (7267 JT): The automaker will cut domestic production by 3.5 percent in October from September levels as Japan ends incentives for purchases of less-polluting cars, Kyodo News reported. The stock increased 0.3 percent to 2,717 yen.
Japan Tobacco Inc. (2914 JT): The world’s third-largest publicly traded cigarette maker said first-quarter net income fell 47 percent to 22.8 billion yen after domestic sales dropped and a stronger yen reduced the value of overseas earnings. The stock sank 1.9 percent to 287,000 yen.
JSR Corp. (4185 JT): The maker of synthetic resin plans to invest about 5 billion yen at its Mie Prefecture plant to increase the production capacity of rubber used in fuel efficient-tires to 60,000 tons a year from 35,000, Nikkei English News reported. The stock fell 0.3 percent to 1,544 yen.
Kyocera Corp. (6971 JT): The maker of electronic components reported first-quarter net income of 29.9 billion yen, rebounding from a year-earlier net loss, on a 39 percent jump in sales. The stock gained 1 percent to 7,840 yen.
Mitsubishi Tanabe Pharma Corp. (4508 JT): The drugmaker’s first-quarter net income rose 29 percent to 14.7 billion yen with higher sales. The stock slumped 1.8 percent to 1,303 yen.
Mitsui Fudosan Co. (8801 JT): Japan’s biggest property developer said first-quarter net income slid 72 percent to 4.49 billion yen as vacancy rates rose, crimping earnings from office leasing. The stock dropped 1.5 percent to 1,332 yen.
Murata Manufacturing Co. (6981 JO): The maker of 35 percent of the world’s ceramic capacitors raised its full-year net income forecast by 18 percent to 52 billion yen. The stock lost 0.4 percent to 4,525 yen.
NGK Insulators Ltd. (5333 JT): The maker of electrical insulators and industrial ceramic products said first-quarter net income jumped to 6.37 billion yen from 2.61 billion yen a year earlier as sales increased. The stock advanced 0.4 percent to 1,443 yen.
Nintendo Co. (7974 JO): The world’s largest maker of video- game machines reported a first-quarter net loss of 25.2 billion yen, reversing from net income a year earlier, as sales fell by 26 percent. The stock sank 1.5 percent to 24,620 yen.
Nippon Shokubai Co. (4114 JT): The chemical maker’s operating profit may have tripled to more than 7 billion yen in April to June from a year earlier, Nikkei English News reported. The stock rose 0.1 percent to 911 yen.
Nissan Motor Co. (7201 JT): Japan’s third-largest automaker reported first-quarter net income of 106.6 billion yen as auto demand recovered in North America and sales rose in Asia. The stock increased 1.8 percent to 669 yen.
Nisshin Seifun Group Inc. (2002 JT), NBC Meshtec Inc. (3534 JT), Oriental Yeast Co. (2891 JT): Nisshin Seifun offered 1,395 yen for each NBC Meshtec share and 800 yen per Oriental Yeast share to make the companies wholly-owned. Nisshin Seifun’s operating profit rose 16 percent to 7.24 billion yen in the first quarter. Nisshin Seifun fell 1.4 percent to 1,075 yen. NBC rose 1.1 percent to 730 yen. Oriental Yeast lost 0.7 percent to 408 yen.
NTT DoCoMo Inc. (9437 JT): Japan’s largest mobile-phone operator reported a 3.5 percent drop in first-quarter net income to 142.2 billion yen as revenue from data services failed to offset a decline in voice-call traffic. The stock declined 0.4 percent to 138,200 yen.
Olympus Corp. (7733 JT): The endoscope maker may report pretax profit of about 9 billion yen for the quarter ended June 30, an increase of 29 percent from a year earlier, Nikkei English News reported. The stock declined 0.6 percent to 2,335 yen.
Panasonic Corp. (6752 JT): The world’s largest maker of rechargeable batteries offered to buy out Sanyo Electric Co. (6764 JT) and Panasonic Electric Works Co. (6991 JT) for 818.4 billion yen to expand its renewable energy businesses. Panasonic also registered to sell as much as 500 billion yen of shares, according to a filing with Japan’s finance ministry. Panasonic slumped 7.7 percent to 1,077 yen. Sanyo surged 26 percent to 149 yen. Panasonic Electric soared 15 yen to 1,124 yen.
Rakuten Inc. (4755 JQ): The shopping-website operator plans to begin marketing life insurance on the Internet with partner Airio Life Insurance Co., Nikkei English News reported. Rakuten, which has invested about 2 billion yen in Airio, will buy another 2 billion yen in shares from parent Expert Group Holdings Co., the report said. Rakuten climbed 0.6 percent to 66,800 yen.
Renesas Electronics Corp. (6723 JT): Japan’s second-largest chipmaker forecast a wider-than-expected net loss for this fiscal year after merging with NEC Electronics Corp. in April. It expects the loss to be 80 billion yen for the 12 months ending March 31, compared with the average 55.4 billion yen loss estimated by nine analysts. The company also plans to cut 10 percent of its workforce this business year. The stock gained 3.5 percent to 857 yen.
Sharp Corp. (6753 JT): Japan’s largest maker of liquid- crystal displays returned to net income of 10.7 billion yen in the first quarter, helped by a recovery in demand for the devices and televisions.
Separately, the company said it will double production at its U.K. solar-panel plant after the British government brought in price guarantees for electricity generated by the sun. The stock slid 1 percent to 968 yen.
Shinsei Bank Ltd. (8303 JT): The Japanese lender partly owned by J. Christopher Flowers, said first-quarter net income jumped to 13.9 billion yen from 5.17 billion yen a year earlier as bad loan charges fell and it posted gains in trading income. The stock was unchanged at 74 yen.
Shiseido Co. (4911 JT): Japan’s largest cosmetics maker swung to first-quarter net loss of 666 million yen from a year- earlier profit. The stock lost 0.9 percent to 2,012 yen.
Softbank Corp. (9984 JT): Japan’s third-largest mobile- phone operator said first-quarter net income fell 29 percent to 19.4 billion yen, while operating profit in the quarter gained 45 percent to 156.6 billion yen. Softbank also said it will spend up to 12 billion yen to repurchase as much as 0.37 percent of its total shares. Softbank fell 1.1 percent to 2,595 yen.
Sony Corp. (6758 JT): The world’s No.3 television maker raised its full-year earnings forecasts after sales of TVs helped the company post an unexpected profit last quarter. The stock rose 0.1 percent to 2,611 yen.
Stanley Electric Co. (6923 JT): The headlight maker will buy back up to 1.15 percent of its outstanding shares. The company also said first-quarter net income jumped to 4.82 billion yen from 1.32 billion yen a year earlier, as sales gained. The stock retreated 0.9 percent to 1,472 yen.
Sumitomo Electric Industries Ltd. (5802 JT): The electric wire maker returned to first-quarter net income of 19.2 billion yen from a year-earlier loss, with a 31 percent gain in sales. The stock slipped 1.1 percent to 1,036 yen.
TDK Corp. (6762 JT): The world’s biggest maker of magnetic heads for disk drives posted a return to net income of 14.5 billion yen from a year-earlier loss. The stock advanced 0.6 percent to 5,310 yen.
Toshiba Corp. (6502 JT): The world’s second-biggest maker of flash memory posted its second straight quarterly profit on rising chip demand, beating analyst estimates for a loss. Net income was 466 million yen in the three months ended June 30, compared with a loss of 57.8 billion yen a year earlier. The stock declined 0.2 percent to 462 yen.
Yamato Holdings Co. (9064 JT): The parcel-delivery service company said first-quarter net income plunged 77 percent to 941 million yen. The stock dropped 0.4 percent to 1,124 yen.