Asahi Diamond, Mitsubishi, Sparx, Shimamura, Toho, Zeria: Stocks 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.
Asahi Diamond Industrial Co. (6140 JT): The maker of diamond-tipped tools said it will spend as much as 1.5 billion yen ($17.8 million) to buy back up to 1.66 percent of its outstanding shares through Sept. 22. The stock jumped 5.2 percent to 1,347 yen.
Financial Products Group Co. (7148 JQ): The provider of financial services will list on the Osaka Securities Exchange’s Jasdaq market. The initial offering price was 3,300 yen.
Fujitsu Ltd. (6702 JT): The computer-services provider’s Fujitsu Laboratories Ltd. said it has invented an application to keep classified information from going out as e-mail accidentally, Nikkei English News reported, without saying where it got the information. Fujitsu rose 2 percent to 615 yen.
Hi-Lex Corp. (7279 JO): The cable maker had a return to nine-month net income of 6.71 billion yen from a year earlier loss as sales jumped by 42 percent. The stock advanced 1.7 percent to 1,187 yen.
Gourmet Kineya Co. (9850 JT): The operator of noodle restaurants skipped its planned first-half dividend of 6 yen, the company said in a release. The stock rose 0.2 percent to 520 yen.
Kayaba Industry Co. (7242 JT): The maker of hydraulic equipment for automobiles said it will repurchase up to 0.5 percent of its total shares. The stock gained 2.5 percent to 404 yen.
Mitsubishi Corp. (8058 JT): Diamond Power Corp., a unit of Mitsubishi, scrapped a plan to build coal-fired power plants in Japan’s Fukushima prefecture because of the costs required to limit carbon dioxide emissions, Nikkei English News reported, without citing anyone. Mitsubishi jumped 3.7 percent to 1,915 yen.
Mitsubishi Motors Corp. (7211 JT): The automaker plans to develop with PSA Peugeot Citroen Group a compact commercial electric vehicle for Europe, with production to start by 2012, Nikkei English News reported, without saying where it got the information. Mitsubishi Motors gained 0.9 percent to 110 yen.
Mitsubishi UFJ Financial Group Inc. (8306 JT): The bank’s Mitsubishi UFJ Trust and Banking Corp. unit is in final discussions to buy a 33 percent stake in Chinese brokerage Shenyin & Wanguo Securities Co.’s mutual fund management division, Nikkei English News reported, without saying where it got the information. Mitsubishi UFJ increased 1.2 percent to 408 yen.
Nidec-Read Corp. (6833 JO): The maker of test systems for chips and printed circuit boards said it will conduct a 2-for-1 stock split. The stock slid 0.3 percent to 1,514 yen.
Nissan Motor Co. (7201 JT): The automaker’s Chinese venture with Dongfeng Motor Group Co. (489 HK) will develop its own brand of vehicles to better cater to local preferences, the Asahi newspaper said, citing an unidentified person affiliated with the plan. Nissan advanced 2.1 percent to 681 yen.
Sparx Group Co. (8739 JQ): The asset-management company said it will cooperate with MCP Asset Management Co. of Hong Kong on managing and marketing funds of funds. Sparx jumped 6.4 percent to 7,480 yen.
Shimamura Co. (8227 JT): The apparel retailer may have posted a group operating profit for the six months ended Aug. 31 of about 18 billion yen, a 7 percent gain from a year earlier, Nikkei English News reported, without saying where it got the information. The stock lost 1.3 percent to 7,530 yen.
Toho Co. (8142 JT): The wholesale food supplier said first-half net income rose 22 percent to 493 million yen, citing higher sales and cost cuts from closing unprofitable stores. The stock advanced 1.3 percent to 314 yen.
Zeria Pharmaceutical Co. (4559 JT): The drugmaker plans to acquire Biofac A/S, a Danish pharmaceutical company, later this month for about 3.5 billion yen, Nikkei English News reported, without saying where it got the information. Zeria climbed 0.3 percent to 1,008 yen.