Disco, J. Front, Namco Bandai, Yoshinoya: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading on Feb. 28. 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.
Disco Corp. (6146 JT): Taiwan’s Advanced Semiconductor Engineering Inc. (2311 TT) purchased NT$527 million ($17.7 million) of equipment from Disco from March 23 to Feb. 25, Advanced Semiconductor said in a statement to the Taiwan Stock Exchange. Disco, the maker of chip-manufacturing equipment, gained 2.5 percent to 5,650 yen.
Dydo Drinco Inc. (2590 JT): The drinks maker, which also sells its products through vending machines and convenience stores, said its full-year net income rose to 2.69 billion yen ($32.9 million) from 705 million yen a year earlier. The stock gained 1.2 percent to 3,460 yen.
J. Front Retailing Co. (3086 JT): The Japanese operator of Daimaru department stores said it will spend 8.21 billion yen to buy a 40.5 percent stake in StylingLife Holdings Inc., which runs Plaza gift and sundry shops in the country. J. Front slid 0.2 percent to 423 yen.
Kyotaru Co. (8187 JQ), Yoshinoya Holdings Co. (9861 JT): Yoshinoya, a Japanese restaurant chain that serves bowls of rice with stewed beef, plans to buy out Kyotaru in a stock transaction. Kyotaru, a Japanese sushi restaurant operator, is scheduled to be delisted from the JASDAQ market on June 28, ahead of the acquisition on July 1, according to a statement to the Tokyo Stock Exchange. Kyotaru shares gained 0.8 percent to 46,950 yen. Yoshinoya rose 1.3 percent to 104,700 yen.
Namco Bandai Holdings Inc. (7832 JT): The video-game maker said it plans to buy back up to 20 million shares, or 8 percent of stock, for as much as 20 billion yen. Namco Bandai will retire the shares acquired, according to a release to the Tokyo Stock Exchange. The stock advanced 1.6 percent to 929 yen.
NEC Corp. (6701 JT): Japan’s biggest maker of personal computers cut its net income forecast for the current fiscal year ending March 31 to breakeven, citing declining revenue from information-technology services. Tokyo-based NEC previously expected 15 billion yen in profit. The stock declined 0.4 percent to 233 yen.
To contact the reporter on this story: Kana Nishizawa in Tokyo at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.