JAPAN DAYBOOK: Finance Minister Yoshihiko Noda Speaks
Finance Minister Yoshihiko Noda holds a regular briefing following a cabinet meeting. Parliament is debating bills proposed to fund a record budget.
WHAT TO WATCH *Cabinet meeting at 8:15 a.m., followed by minster briefings. *Japan auto dealers release vehicle sales by model at 11 a.m. *Asahi Soft Drinks (2598 JT) product briefing at 11:30 a.m. *Toshiba Transmission (6502 JT) briefing on battery operations 1:30 p.m. *Shimane Bank (7150 JT) releases terms of share sale. *ID Home (3274 JQ) releases terms of share sale. *RaQualia Pharma (4579 JQ) releases terms of share sale.
EQUITY PREVIEW *Eisai (4523 JT) forecast sales will be little changed for the next five years after losing patent protection on its Aricept pill. Revenue may exceed 800 billion yen in the year ending March 2016, the company said. *Meiji Holdings (2269 JT) may report operating profit of 31 billion yen for its fiscal year ending March 31, the Nikkei newspaper said. The company’s forecast is 29.5 billion yen. *Renown (3606 JT) said its full-year net loss was about 1.6 billion yen, wider than its 600 million yen loss forecast. *Sumitomo Electric (5802) has developed an alternative to lithium ion batteries that is 90 percent cheaper, the Nikkei reported. It plans to commercialize the technology by 2015. *Sysmex (6869 JT) will split its stock 2-for-1.
ANALYST RATINGS FOR NIKKEI 225 COMPANIES *Nippon Sheet Glass (5202 JT) cut to neutral at Credit Suisse. *Konami (9766 JT) raised to buy at Citigroup.