JAPAN DAYBOOK: 20-Year Bond Sale, Kan Foreign Policy Speech
The government will auction 1.1 trillion yen ($13.4 billion) in bonds. Ten-year bonds fell for a fifth day yesterday as traders cut holdings to prepare for today’s sale.
WHAT TO WATCH *Suzuki Motors introduces new MR Wagon at 10:30 a.m. *Societe Generale Private Banking (Japan) Chief Executive Christophe Billard briefing at 11:30 a.m. *20-year bond auction result at 12:45 p.m. *Mitsubishi Motors business plan at 1 p.m. *Sony marketing manager on new Bravia TVs at 2 p.m. *Hino Motors president briefing at 3 p.m. *Prime Minister Naoto Kan speaks on foreign policy at 4 p.m.
EQUITY PREVIEW *Sogo Medical (4775 JT) nine-month net income rose 20 percent to 1.15 billion yen. The company cut its full-year net income outlook to 2.06 billion yen from 2.16 billion yen, citing consumption tax charges and losses from impaired assets. *Tokyo Steel Manufacturing (5423 JT) said it expects a full- year net loss of 8 billion yen as it pays higher material costs and demand from domestic builders slumps. The company had forecast 1 billion yen profit. *Tsudakoma (6217 JT) said it expects net income of 900 million yen for this fiscal year on a 36 percent jump in sales. The company had a net loss of 1.15 billion yen in the year to Nov. 30. *Kyowa Hakko Kirin (4151 JT) will apply for approval of a leukemia drug in Japan this spring, the Tokyo Shimbun newspaper reported.
ANALYST RATINGS OF NIKKEI 225 COMPANIES *Tokyo Tatemono (8804 JT) cut to neutral at Mizuho. *Mitsui Fudosan (8801 JT) cut to neutral at Mizuho.