Canon, Don Quijote, Drydo Drinco, Nitto Denko, TDK: Japan's 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.
Canon Inc. (7751 JT): The world’s largest camera maker will close all operations at a unit making surface-conduction electron-emitter display televisions and dissolve the subsidiary because of price competition from flat-panel TV models, the company said in a statement. The stock gained 1 percent to 3,580 yen.
Don Quijote Co. (7532 JT): The discount retailer said it expects a 13 percent increase in net income to 11.6 billion yen ($136 million) this fiscal year. The company forecasts first- half profit will fall by 6.6 percent. The stock advanced 1.5 percent to 2,313 yen.
Dydo Drinco Inc. (2590 JT): The beverage maker said in a preliminary earnings statement first-half net income totaled 600 million yen, short of its outlook by 29 percent, citing a charge from a drop in the value of its investment securities. The stock rose 0.3 percent to 3,150 yen.
Estore Corp. (4304 JX): The provider of support services for electronic commerce companies said it will repurchase up to 4.45 percent of its total shares. The stock leapt 1.7 percent to 90,500 yen.
Jupiter Telecommunications Co. (4817 JQ): The provider of cable-television broadcasting services said subscribers increased 3.8 percent to 3.35 million in July from a year earlier. The stock rose 0.1 percent to 88,900 yen.
Mazda Motor Corp. (7261 JT): The automaker will probably boost the number of vehicles recalled overseas for power- steering flaws to 514,000, Nikkei English News reported, citing the company. The stock slid 1 percent to 194 yen.
Nidec Corp. (6594 JO): The world’s biggest maker of disk- drive motors plans to buy a company by March 2012 to help it meet its 1 trillion yen sales target for the year ending March 2013, President Shigenobu Nagamori told reporters in Tokyo. The stock gained 3.4 percent to 7,390 yen.
Nitto Denko Corp. (6988 JT): The chemical products maker said July sales rose 8 percent from a year earlier, according to a preliminary report on its Web site. The stock gained 1.2 percent to 2,893 yen.
Takeda Pharmaceutical Co. (4502 JT): Asia’s largest drugmaker is “aggressively” seeking merger and acquisition opportunities overseas, Chief Executive Officer Yasuchika Hasegawa told reporters in Osaka. Takeda fell 0.1 percent to 3,955 yen.
TDK Corp. (6762 JT): Standard & Poor’s revised TDK’s outlook to stable from negative and affirmed the company’s “A+” long-term and “A-1” short-term ratings. TDK increased 0.9 percent to 4,530 yen.
Tokyo Rope Manufacturing Co. (5981 JT): The maker of wires and ropes said it will buy back as much as 1.37 percent of its outstanding shares. The stock rose 0.6 percent to 183 yen.