Central Glass, Inpex, Mitsubishi Materials, Tepco, Toshiba: Equity Preview
The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.
Central Glass Co. (4044 JT): The glassmaker said it will spend as much as 1.2 billion yen ($14 million) to buy back up to 1.4 percent of its shares. Net income for the three months ended June 30 declined 33 percent to 616 million yen, while the company booked a 8.5 percent increase in sales. The stock gained 3.3 percent to 342 yen.
Daiichikosho Co. (7458 JQ): The maker of karaoke equipment said it will spend as much as 1.2 billion yen to buy buck up to 1.3 percent of its shares. First-quarter net income rose to 3.05 billion yen, compared with 2.77 billion yen a year earlier. The stock advanced 0.2 percent to 1,297 yen.
Disco Corp. (6146 JT): The maker of abrasives and precision machinery boosted its first-half net income forecast by 50 percent to 6.9 billion yen, citing a strong chip market in Asia. The stock lost 2.2 percent to 4,800 yen.
Honda Motor Co. (7267 JT): The automaker will cut its output in Japan by about 4 percent after the Sept. 30 expiration of a government subsidy for environmentally friendly vehicles, Nikkei English News reported. The stock declined 1.7 percent to 2,864 yen.
Inpex Corp. (1605 JT): Japan’s biggest energy explorer said net income increased 23 percent to 32 billion yen in the quarter ended June 30 as a surge in crude oil prices increased the value of the fuels produced by the company. Separately, Inpex plans to sell stakes totaling about 10 percent of its $20 billion Ichthys liquefied natural gas project in Australia to raise money to fund the project, according to Director Masahiro Murayama. The stock retreated 0.6 percent to 423,500 yen.
Lintec Corp. (7966 JT): The maker of adhesive products raised its first-half net income forecast by 52 percent to 7.3 billion yen. The stock fell 0.4 percent to 1,672 yen.
Mitsubishi Heavy Industries Ltd. (7011 JT): The Japanese machinery maker and Vienna-based engineering company Ivicom Consulting GmbH signed a 20-year land lease with Montenegro to build a 50-megawatt wind farm in the southeastern European country, according to an Aug. 5 statement from the Montenegrin Economy Ministry. Mitsubishi Heavy rose 0.6 percent to 326 yen.
Mitsui High-Tec Inc. (6966 JT): The machinery-parts maker said it expects a net loss of 1 billion yen for the year ending January, citing asset disposal. It previously projected a 200 million yen gain. The stock sank 1.9 percent to 570 yen.
Mitsubishi Materials Corp. (5711 JT): Japan’s third-largest copper producer raised its first-half net income forecast to 6 billion yen, compared with a previous projection of 1 billion yen, citing higher-than-expected copper prices and a recovery in demand for cars and semiconductors. The stock declined 0.8 percent to 237 yen.
Miraca Holdings Inc. (4544 JT): The drugmaker said operating profit for the three months ended June 30 rose 17 percent to 6.08 billion yen from 5.18 billion yen a year earlier. The stock gained 0.8 percent to 2,618 yen.
Nagoya Railroad Co. (9048 JT): The rail company’s net income for the April-to-June period jumped 79 percent to 1.65 billion yen, while the company posted a 1 percent drop in sales. The stock was unchanged at 256 yen.
Nippon Paint Co. (4612 JT): The paint maker raised its half-year net income forecast 41 percent to 6.9 billion yen on higher-than-expected demand for automobiles at home and overseas. The shares rose 0.2 percent to 519 yen.
Nishi-Nippon City Bank Ltd. (8327 JT): The regional bank’s first-quarter net income jumped 35 percent to 5.68 billion yen. The shares rallied 1.2 percent to 255 yen.
Toshiba Corp. (6502 JT), Tokyo Electric Power Co. (9501 JT): The companies and the Japan Bank for International Cooperation reached new terms with Canada’s Uranium One Inc. that will end the Japanese group’s investment in exchange for a long-term uranium supply Contract. Toshiba fell 1.6 percent to 437 yen. Tokyo Electric Power rose 0.2 percent to 2,420 yen.