Air Water, Isetan Mitsukoshi, Mitsui, TonenGeneral: Japan 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 latest close. The information in each item was released after markets shut, unless stated otherwise.
Air Water Inc. (4088 JT): The industrial gas maker said its first-quarter net income jumped 39 percent to 4.17 billion yen ($48.5 million). The stock gained 1.8 percent to 945 yen.
Fast Retailing Co. (9983 JT) The clothing company plans to open branches of its Uniqlo budget chain in upscale urban shopping districts including Tokyo Midtown in Roppongi and Uehommachi Station in Osaka, Nikkei English News reported. The stock rose 0.2 to 12,840 yen.
Fuji Heavy Industries Ltd. (7270 JT): The maker of Subaru cars has boosted its fiscal 2010 production plan for the U.S. and Japan to 604,000 vehicles from its May target of 591,000 because of stronger sales in China and North America, Nikkei English News reported. The stock jumped 5.7 percent to 481 yen.
Isetan Mitsukoshi Holdings Ltd. (3099 JT): The retailer raised its full-year net income forecast by 20 percent to 12 billion yen from a previous projection of 10 billion yen. The company booked a 795 million yen net loss in the three months ended June 30, compared with net income of 3.86 billion yen a year earlier. The stock increased 2.8 percent to 848 yen.
Misumi Group Inc. (9962 JT): The mail-order distributor of precision machine parts raised its full-year net income forecast by 18 percent to 8.35 billion yen on recovery in demand from Asia. The stock climbed 3.3 percent to 1,633 yen.
Mitsui & Co. (8031 JT): Japan’s second-largest trading house by market value and Rio Tinto Group (RIO AU) will open an office in Vientiane to explore for bauxite in Laos, Mitsui said on its Web site. The shares gained 0.3 percent to 1,175 yen.
Seven & I Holdings Co. (3382 JT) The convenience-store operator may introduce an urban supermarket this year that will be about half the size of conventional stories, Nikkei English News reported. The stock rose 1.7 percent to 2,046 yen.
Sumitomo Corp. (8053 JT) The Japanese trading house and rivals Mitsui & Co., Itochu Corp. and Mitsubishi Corp. may almost double their stakes in iron-ore mines to about 135 million tons in fiscal 2015, Nikkei English News reported. The stock rose 2 percent to 1,009 yen.
TonenGeneral Sekiyu K.K. (5012 JT): The unit of Exxon Mobil Corp. (XOM US) increased its full-year net income forecast by 3.4 percent to 30 billion yen compared with a previous 29 billion yen gain estimate. The stock rose 0.8 percent to 781 yen.
Yamaichi Electronics Co. (6941 JT): The maker of integrated-circuit sockets said it plans to raise as much as 1.29 billion yen by selling shares to the public, according to a filing with Japan’s finance ministry. The stock rallied 1.8 percent to 280 yen.