Asahi Breweries, Canon, Toyota, Resona, Holdings: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading tomorrow. 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.
Asahi Breweries Ltd. (2502 JT): Japan’s second-largest beermaker said it will pay A$364 million ($323 million) in cash for Australian soft-drink maker P&N Beverages as it builds on its acquisition last year of Cadbury Plc’s Australian drinks unit.
The acquisition of the closely held company will be completed by November, Tokyo-based Asahi said in a statement. The stock advanced 0.5 percent to 1,592 yen.
Canon Inc. (7751 JT): The world’s largest camera maker, may raise overseas output and review prices for its products if the yen continues to strengthen, to counter the erosion of export sales, Masaya Maeda, who heads Canon’s camera business, told reporters. The stock rose 1.3 percent to 3,470 yen.
Toyota Motor Corp. (7203 JT): The Indian unit of the world’s largest carmaker will start selling its Etios hatchback in the country from early next year, Toshiaki Ozawa, the company’s spokesman for the South Asian nation, said in New Delhi. Toyota aims to sell 70,000 units of the car in the first year, Ozawa said.
The spokesman also said the automaker is considering introducing the Lexus brand in India. The stock gained 0.6 percent to 2,928 yen.
Resona Holdings Inc. (8308 JT): Japan’s fourth-largest bank said it will buy back preferred shares for 425.7 billion yen from the Japanese government. The stock jumped 4 percent to 910 yen.