Elpida, Mazda, Mitsui O.S.K., T&D, Tokai: Japan 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.
Elpida Memory Inc. (6665 JT): The maker of computer-memory chips will reduce the number of dynamic random access memory chips it procures from Taiwanese companies, the Nikkan Kogyo newspaper reported. The stock jumped 4.7 percent to 936 yen.
Mazda Motor Corp. (7261 JT): The carmaker said Ford Motor Co. of the U.S. will cut its stake in Mazda to 3.5 percent from 11 percent. Mazda rose 0.9 percent to 233 yen.
Mitsubishi Heavy Industries Ltd. (7011 JT): The maker of heavy machinery said it completed a trial plant at its Nagasaki shipyard to produce rechargeable lithium batteries used for electric vehicles. The stock increased 1.7 percent to 295 yen.
Mitsui O.S.K. Lines Ltd. (9104 JT): The shipping line may charge an extraordinary loss of around 25 billion yen ($299.5 million) in the current year ending March 2011 to sell ships and cancel charters, Nikkei English News reported. The stock climbed 2 percent to 566 yen.
Nippon Metal Industry Co. (5479 JT): The maker of steel products said it will set up a venture in Taiwan with two companies to sell stainless steel in China and other Asian countries. The stock gained 3.1 percent to 101 yen.
Nippon Paper Group Inc. (3893 JT): The papermaker may promote a new coated paper that the company claims competes on price with imports, but does not sacrifice much on quality, Nikkei English News reported, citing the company. The new paper may be priced 10 percent below domestic products to compete with imports, Nikkei reported. The stock leapt 2 percent to 2,044 yen.
Osaka Gas Co. (9532 JT): The gas supplier may invest in shale gas projects if given the opportunity, Reuters reported, citing President Hiroshi Ozaki. Also, Osaka Gas is seeking to buy a stake in a liquefied-natural-gas receiving terminal in China or Europe, the Nikkei newspaper reported, citing President Hiroshi Ozaki. The stock rose 0.3 percent to 315 yen.
T&D Holdings Inc. (8795 JT): Japan’s largest publicly traded life insurer said first-half net income jumped 54 percent to 22.2 billion yen. The stock jumped 5 percent to 1,896 yen.
Tokai Corp. (8134 JT), Vic Tokai Corp. (2306 JQ): The companies said in a release that they will merge under a holding company in April. Tokai, a distributor of oil products, gained 2.9 percent to 357 yen. Vic Tokai, the telecommunication service provider, rose 1 percent to 720 yen.
Toyota Tsusho Corp. (8015 JT): A trading company affiliated with Toyota Motor Corp. (7203 JT) will build a rare-earth processing plant in Indonesia, the Tokyo Shimbun newspaper reported. Toyota Tsusho gained 3.4 percent to 1,370 yen. Toyota Motor rose 1.4 percent to 3,215 yen.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.