Canon, Fast Retailing, Mitsubishi, Sawai: 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.
ABC-Mart Inc. (2670 JT): The shoe retailer said same-store sales in November declined 6.1 percent from a year earlier, dragged down by an 8.6 percent drop in customer traffic. The stock gained 2.2 percent to 2,888 yen.
Ain Pharmaciez Inc. (9627 JT): The drugstore chain said first-half net income rose 26 percent to 1.7 billion yen ($20 million) on higher sales. The stock climbed 2.1 percent to 2,902 yen.
Bals Corp. (2738 JT): The home-furnishings retailer said nine-month operating profit fell 24 percent to 1 billion yen as sales decreased. The stock gained 1.6 percent to 86,700 yen.
Canon Inc. (7751 JT): The world’s biggest camera maker will invest 30 billion yen by 2015 to build a toner-cartridge plant in Oita prefecture, southern Japan. The Japanese company aims to start operations at the factory in May 2012, according to a statement. The stock advanced 2.5 percent to 4,050 yen.
Fast Retailing Co. (9983 JT): Japan’s biggest clothing retailer said November sales from its Uniqlo chain fell 14.5 percent from a year earlier. The stock rose 1 percent to 13,390 yen.
Invoice Inc. (9448 JT): The provider of telecommunication billing services accepted a buyout proposal by MBKP2 worth as much as 17.5 billion yen, or 1,500 yen a share, according to a statement. The stock soared 8.4 percent to 1,367 yen.
Kobe Steel Ltd. (5406 JT): Japan’s fourth-largest steelmaker said it will build a $400 million mill in Ohio to produce lightweight sheet steel for fuel-efficient vehicles. The stock rose 1.6 percent to 196 yen.
Kumiai Chemical Industry Co. (4996 JT): The agrochemicals maker said full-year profit totaled 1.3 billion yen, 36 percent more than forecast, citing bigger-than-expected cuts in costs in a preliminary earnings statement. The stock slid 0.7 percent to 271 yen.
Mitsubishi Corp. (8058 JT): Japan’s largest trading house by market capitalization and Baosteel Group Corp. plan to cooperate in lithium batteries, alternative energy and emission rights, according to the Chinese steelmaker’s online news center. Mitsubishi gained 1.3 percent to 2,162 yen.
Mori Seiki Co. (6141 JO): The machine tool maker will spend 5 billion yen to build a plant in California and start production in July 2012, according to a statement. The stock gained 3.1 percent to 921 yen.
Nissan Motor Co. (7201 JT): The carmaker is considering selling electric vehicles in Brazil, the Sankei newspaper reported, citing an interview with President Carlos Ghosn. The stock advanced 3.1 percent to 825 yen.
Orient Corp. (8585 JT): Mizuho Financial Group Inc. (8411 JT) will waive conversion rights on part of the preferred shares it holds in the consumer credit company, the Nikkei newspaper reported. Orient increased 3.4 percent to 61 yen. Mizuho rose 1.5 percent to 135 yen.
Sawai Pharmaceutical Co. (4555 JT), Kyorin Holdings Inc. (4569 JT): Sawai Pharmaceutical has approved a bid for Kyorin Holdings, contingent on acceptance by the end of February, according to a statement by Sawai, which put a value on Kyorin of between 1,400 yen and 1,600 yen a share. Sawai lost 1 percent to 7,010 yen. Kyorin slid 0.6 percent to 1,350 yen.
United Arrows Ltd. (7606 JT): The apparel chain said same- store sales gained 7.3 percent in November as customer numbers increased. The stock advanced 2.3 percent to 1,218 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com.