Bridgestone, Corona, Monex, Osaka Gas, Tokyo Gas, Universe: 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.
Bridgestone Corp. (5108 JT): The world’s largest tiremaker said it will replace tires for light trucks and vans sold in Japan since July 13 after some were found to be defective, without compromising safety. The stock rose 1.3 percent to 1,566 yen.
Corona Corp. (5909 JT): The air-conditioner maker said it will buy back as much as 1.7 percent of its shares. The stock slid 0.3 percent to 729 yen.
E-Seikatsu Co. (3796 JT): The real estate information company said it will repurchase up to 1.92 percent of its total shares. The stock gained 1 percent to 31,000 yen.
Hitachi Ltd. (6501 JT), Omron Corp. (6645 JO): Fourteen companies including Hitachi and Omron will work together with Japan’s Institute of Advanced Industrial Science and Technology on micro-electro-mechanical systems, Nikkei English News said. Hitachi increased 1.4 percent to 363 yen. Omron gained 1.8 percent to 1,900 yen.
Kewpie Corp. (2809 JT): The mayonnaise maker’s operating profit at its Chinese business may rise 30 percent to about 400 million yen for the fiscal year ending in November, Nikkei English News reported. The stock slid 0.2 percent to 1,059 yen.
Mitsubishi Heavy Industries Ltd. (7011 JT) and Nippon Yusoki Co. (7105 JT): The companies plan to start joint production of lift trucks in China, Nikkei English News reported. Mitsubishi Heavy rose 1 percent to 316 yen. Nippon Yusoki fell 1.6 percent to 185 yen.
Monex Group Inc. (8698 JT): The provider of investment services said operating revenue in July rose to 1.77 billion yen ($21 million) from 1.75 billion yen a year earlier. The stock advanced 1.9 percent to 35,750 yen.
Osaka Gas Co. (9532 JT): Japan’s second-biggest distributor of natural gas said fuel sales rose 5.3 percent in July. The stock lost 0.6 percent to 317 yen.
Panasonic Corp. (6752 JT): The electronics maker will increase production of plasma television panels fivefold from the current level in fiscal 2012 at a plant in Shanghai, the Yomiuri newspaper reported. The stock gained 1 percent to 1,094 yen.
Rakuten Inc. (4755 JQ): The online-mall operator said it will buy out a banking unit in October through a stock swap. Rakuten rose 0.5 percent to 63,200 yen.
Sharp Corp. (6753 JT): The electronics maker will reduce LCD panel production this month for components that serve other companies, such as Sony Corp. (6758 JT), because of higher TV inventories in the U.S. and China, Nikkei English News reported. Sharp rallied 2 percent to 877 yen. Sony gained 1.7 percent to 2,602 yen.
Tokyo Gas Co. (9531 JT): Japan’s biggest natural-gas distributor said fuel sales rose 3.2 percent in July. The stock slipped 1 percent to 386 yen.
Universe Co. (3078 JT): The supermarket chain said first- quarter net income fell 29 percent to 295 million yen, while operating profit in the quarter rose 8.6 percent on higher revenue. The stock increased 0.6 percent to 1,240 yen.
Yamaha Corp. (7951 JT): The musical instrument maker may generate 8.2 billion yen in free cash flow in fiscal year 2010, Nikkei English News reported. The amount is up from an initial forecast of 7.6 billion yen, the report said. The higher estimate is based on sales of musical instruments overseas, Nikkei said. The stock sank 0.7 percent to 955 yen.