Nissan, Sumitomo Rubber, TonenGeneral: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading tomorrow. 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.
Fancl Corp. (4921 JT): The maker of cosmetics and nutritional supplements said nine-month net income fell 10 percent to 2.76 billion yen ($33 million), with falling sales. The company raised its full-year net income outlook by 20 percent to 3 billion yen. The stock slipped 0.3 percent to 1,216 yen.
Fumakilla Ltd. (4998 JT), S.T. Corp. (4951 JT), Earth Chemical Co. (4985 JT): S.T., a mothball maker, said it will raise its stake in Fumakilla by 1.4 billion yen ($17 million). S.T. will buy 3.457 million shares for 408 yen each from Earth Chemical, increasing its holding in Fumakilla to 25.58 percent. Fumakilla lost 1.3 percent to 395 yen. S.T. slid 0.3 percent to 980 yen. Earth Chemical rose 0.4 percent to 2,790 yen.
Kirin Holdings Co. (2503 JT): The brewery will sell all of its shares in China’s Dalian Daxue Brewery Co. to Anheuser-Busch InBev NV, Kyodo News reported, citing the Japanese company. Kirin gained 2.6 percent to 1,169 yen.
Modec Inc. (6269 JT): The maker of natural-gas production equipment said in a preliminary earnings statement full-year net income totaled 2.7 billion yen, beating its 2.6 billion yen outlook. The stock declined 1.7 percent to 1,540 yen.
Nippon Manufacturing Service Corp. (2162 JQ): The outsourcing services company said it will conduct a 5-for-1 stock split. The stock jumped 4.9 percent to 490,000 yen.
Nissan Motor Co. (7201 JT): Japan’s second-largest automaker by sales and its “supported” subsidiaries, including Nissan Capital of America Inc., were placed on review for possible upgrade at Moody’s Investors Service. The automaker improved its profitability and offset the impact of a strong yen through cost cuts and sales growth, Moody’s said in a statement. The stock rose 1.4 percent to 880 yen.
Sumitomo Rubber Industries Ltd. (5110 JT): Japan’s second- largest tiremaker said it expects net income to fall 58 percent to 9 billion yen this year. The stock rose 0.1 percent to 883 yen.
Tokio Marine Holdings Inc. (8766 JT): The casualty insurer said nine-month net income rose 26 percent to 139 billion yen. The stock advanced 1.8 percent to 2,655 yen.
Tokyo Tatemono Co. (8804 JT): The property developer forecast net income will fall 5 percent to 6 billion yen this year. The stock rose 0.5 percent to 390 yen.
TonenGeneral Sekiyu K.K. (5012 JT): The unit of Exxon Mobil Corp. forecast net income will almost triple to 121 billion yen this year from 42.9 billion yen a year earlier. The stock rose 0.1 percent to 965 yen.
Yamazaki Baking Co. (2212 JT): Japan’s largest bread maker said it expects a 47 percent drop in net income to 6.7 billion yen this year. The stock rose 0.6 percent to 970 yen.
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