JAPAN DAYBOOK: Industrial Production, Nintendo 3DS Sales
Industrial production figures are released, with economists surveyed by Bloomberg anticipating a 4 percent rise from last month. Early sales figures for the Nintendo 3DS, which went on sale on Feb. 26, may be released.
WHAT TO WATCH *Industrial production figures for January released at 8:50 a.m. *Retail sales for January released at 8:50 a.m. *NEC briefs on its cloud software strategy at 11:30 a.m. *CLSA’s Christopher Wood gives a global strategy outlook at the CLSA Japan Forum. *KDDI shows off the company’s new lineup of handsets at a briefing. 10 a.m. *Japan Airlines President Masaru Onishi briefs press. 10 a.m. *Housing starts for January at 2 p.m. *First-day sales figures for the Nintendo 3DS may be released sometime today. *Heiwa Real Estate releases the terms of its 13.4 billion yen share sale. Time not available.
EQUITY PREVIEW *Dydo (2590 JT) said its full-year net income rose to 2.69 billion yen. *East Japan Railway (9020 JT) will bid for California’s high- speed rail, the Nikkei newspaper said. *J. Front Retailing (3086 JT) will buy 40.5 percent of StylingLife Holdings from Sony, Mitsui and Senshukai. *Mizuho Financial Group (8411 JT) may make Mizuho Securities and two other banking companies into wholly owned units. *Namco Bandai (7832 JT) will buy back up to 8 percent of its shares. *NEC (6071 JT) cut its fiscal 2010 profit forecast to breakeven. *Yoshinoya (9861 JT) will make Kyotaru (8187 JT) a wholly owned subsidiary.
ANALYST RATINGS FOR NIKKEI 225 COMPANIES *Mitsubishi Electric (6503 JT) raised to “outperform” at Nikko Cordial. *Toshiba (6502 JT) raised to “outperform” at Nikko Cordial. *NEC (6701 JT) cut to “neutral” at Goldman Sachs and “underperform” at Nikko Cordial. *Furukawa Electric (5801 JT) cut to “neutral” at Credit Suisse.