ANA, Askul, Nippon Electric Glass, Toyota: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading today. 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.
All Nippon Airways Co. (9202 JT): Asia’s largest listed carrier by sales, has hedged 85 percent of its fuel needs for the current fiscal year and 60 percent of its needs for next year, President Shinichiro Ito told reporters in Tokyo. The stock increased 0.7 percent to 287 yen.
Askul Corp. (2678 JT): The distributor of office equipment cut its net income forecast for the fiscal year ending May 20 by 27 percent to 2.2 billion yen ($26.6 million), citing charges on devalued inventory. The stock climbed 3.2 percent to 1,698 yen.
Bridgestone Corp. (5108) (5108 JT): The world’s largest tiremaker said on its website it plans to raise prices of tires in Europe by an average of 7 percent in the second quarter. The stock advanced 3.1 percent to 1,773 yen.
Fanuc Corp. (6954) (6954 JT): Japan’s largest industrial robot maker plans to double production capacity for industrial robots this year to 5,000 a month in anticipation of demand from China and other emerging markets, the Nikkei newspaper reported. The stock gained 0.6 percent to 12,880 yen.
Fuji Heavy Industries Ltd. (7270) (7270 JT): The carmaker’s chief financial officer, Mitsuru Takahashi, expects operating profit to decline next fiscal year, the Nikkei newspaper reported, citing an interview. Fuji Heavy will announce earnings goals in a five-year business plans to be released March 24 the report said. The stock fell 2.1 percent to 668 yen.
Hakuhodo DY Holdings Inc. (2433) (2433 JT): Japan’s second-largest advertising company said revenue at its Hakuhodo Inc. unit rose 13.2 percent in February, compared with the same month a year ago. The stock was unchanged at 5,240 yen.
Kobe Bussan Co. (3038 JO): The supermarket operator reported a 68 percent jump in net income to 695 million yen for the three months ended Jan. 31 with a 9.9 percent increase in sales. The stock slid 0.7 percent to 2,030 yen.
Kumiai Chemical Industry Co. (4996 JT): The maker of agricultural chemicals said operating profit for the November- January period climbed 50 percent to 438 million yen on higher sales. The stock leapt 5.2 percent to 302 yen.
Nippon Electric Glass Co. (5214 JT): Nipro Corp. (8086) (8086 JT), a maker of medical equipment, acquired shares of Nippon Electric Glass and now owns 10.62 percent of the glassmaker’s voting rights. Nipro announced the purchase in a release to the Tokyo Stock Exchange. Nippon Electric Glass fell 1.8 percent to 1,292 yen. Nipro slid 0.9 percent to 1,678 yen.
Orix Corp. (8591) (8591 JT): The financial services company registered to sell as much as 100 billion yen in bonds, according to a filing with Japan’s Finance Ministry. The stock climbed 2.2 percent to 9,450 yen.
Pressance Corp. (3254) (3254 JT): The company which develops and sells condominiums said it will split its stock 200-for-1 and set a minimum trading unit of 100 shares. The stock slipped 0.7 percent to 240,300 yen.
Round One Corp. (4680 JT): The bowling-alley operator said same-store revenue increased 2.6 percent in February, compared with a year ago. The stock declined 2.4 percent to 523 yen.
Toyota Motor Corp. (7203) (7203 JT): The world’s largest automaker said it plans to sell half of its vehicles in emerging markets and roll out 10 more hybrid models as part of efforts to boost its operating profit to 1 trillion yen by 2015. The stock gained 0.4 percent to 3,715 yen.
To contact the reporter on this story: Akiko Ikeda in Tokyo at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.