Bridgestone, Idemitsu, Pigeon, Toshiba: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading today. 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.
Bookoff Corp. (3313 JT): The used-book retailer said November same-store sales dropped 2.4 percent from a year ago as customer traffic dropped. The stock gained 0.2 percent to 670 yen.
Bridgestone Corp. (5108 JT): The world’s largest tiremaker plans to raise Japanese prices of truck and bus tires by an average of 7 percent after rubber and petrochemical costs increased. The stock slid 0.4 percent to 1,647 yen.
Hajime Construction Co. (3268 JQ): The home builder had a 33 percent increase in net income to 9.78 billion yen ($118 million) on a parent basis for the nine months to Oct. 31. Sales gained 3.8 percent. The stock jumped 4.2 percent to 2,754 yen.
Hazama Corp. (1719 JT): The contractor plans to raise 868.8 million yen by selling equity warrants to Ando Corp. (1816 JT), a general contractor, according to a filing with Japan’s finance ministry. Hazama declined 2.9 percent to 68 yen. Ando was unchanged at 106 yen.
Idemitsu Kosan Co. (5019 JT): The Japanese oil refiner has halted a residue fluid catalytic cracker at its Hokkaido refinery since Dec. 4, according to spokesman Ryuichi Sato. The stock declined 0.5 percent to 7,870 yen.
Ito En Ltd. (2593 JT): The drink maker said its revenue rose 5.5 percent in November from a year earlier. The stock increased 0.6 percent to 1,340 yen.
Kitagawa Iron Works Co. (6317 JT): The maker of construction machinery said it set up a subsidiary in China to manufacture machine tools. The company aims to start operation in February 2012. The stock gained 0.7 percent to 145 yen.
NEC Corp. (6701 JT): The personal computer maker plans to invest 50 billion yen by the end of fiscal year 2012 to increase production of materials for electric car batteries, the Nikkei newspaper reported. The stock rose 0.4 percent to 236 yen. Other companies investing in similar projects include Mitsubishi Chemical Holdings Corp. (4188 JT), Asahi Kasei Corp. (3407 JT), and Hitachi Chemical Co. (4217 JT), the report said. Mitsubishi Chemical jumped 2.5 percent to 502 yen. Asahi Kasei increased 0.8 percent to 522 yen. Hitachi Chemical gained 1.2 percent to 1,648 yen.
Pigeon Corp. (7956 JT): The maker of baby-care products cut its full-year net income forecast by 19 percent to 2.85 billion yen, citing the yen’s appreciation and weaker-than-expected growth in sales in its overseas business. The stock retreated 2.3 percent to 2,744 yen.
Start Today Co. (3092 JT): The operator of clothes-shopping websites said sales of its e-commerce business totaled 5.18 billion yen in November, up 54 percent from a year earlier. The stock climbed 2.3 percent to 288,100 yen.
Toshiba Corp. (6502 JT): The electronics maker aims to raise its share of India’s liquid-crystal-display television market to 10 percent by the end of fiscal 2013, according to a statement on the Japanese company’s website. The company also plans to sell 80 billion yen in bonds, the Nikkei newspaper reported. The stock fell 0.5 percent to 441 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com.