Aeon, Askul, J. Front, Misumi, Takeda, Takihyo, Toshiba: Equity Preview
The following companies may have unusual price changes in Japanese trading on Sept. 21, after a public holiday on Sept. 20. 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 Diamond Industrial Co. (6140 JT): The maker of diamond-tipped tools said it will cancel 6.2 percent of its shares on Sept. 27. The stock climbed 2.5 percent to 1,671 yen.
Askul Corp. (2678 JT): The distributor of office equipment booked an 88 percent drop in net income for the three months ended Aug. 20 to 140 million yen ($1.63 million) because of higher costs related to its systems and a one-time charge. The stock gained 0.8 percent to 1,708 yen.
Hitachi Ltd. (6501 JT): The electrical and electronic equipment maker may start an India-based research and development unit and double the technical staff at its Chinese R&D office by the end of fiscal 2012, Nikkei English News reported. The stock gained 3.6 percent to 378 yen.
J. Front Retailing Co. (3086 JT): The department store operator’s sales in August rose 1.7 percent compared with a year earlier, buoyed by sales of products for summer. The stock advanced 1 percent to 404 yen.
Misumi Group Inc. (9962 JT): The mail-order distributor of precision machine parts said its sales in August climbed 44 percent to 9.45 billion yen from the same month a year ago. The stock increased 1.5 percent to 1,790 yen.
Sanyo Electric Co. (6764 JT): The semiconductor maker will close two domestic plants in 2012 and 1,000 employees will be transferred, Nikkei reported. The stock was unchanged at 137 yen.
Sawai Pharmaceutical Co. (4555 JT): Japan’s second-largest maker of generic drugs bought almost a 5 percent stake in Kyorin Co. (4569 JT) and also sent the company an acquisition proposal, Nikkei English News reported. Sawai rose 1.1 percent to 7,690 yen and Kyorin gained 0.9 percent to 1,207 yen.
Takeda Pharmaceutical Co. (4502 JT): The drugmaker said it will invest 14 billion yen in new production facilities at its plant in Hikari City, Yamaguchi Prefecture in Japan. The stock was unchanged at 4,015 yen.
Takihyo Co. (9982 JT): The apparel trader cut its forecast for full-year net income to 770 million yen from 1 billion yen. The stock advanced 3.6 percent to 400 yen.
Toshiba Corp. (6502 JT): Japan’s biggest supplier of nuclear reactors said it decided to pay a midterm dividend of 2 yen per share. The stock lost 0.3 percent to 407 yen.
Toyota Motor Corp. (7203 JT): The carmaker said it settled a suit with relatives of four people killed in a San Diego accident that prompted the Japanese automaker to recall vehicles on concern they might suddenly accelerate. The stock rose 1.9 percent to 3,015 yen.