IHI, Isetan, Kirin, Star Micronics: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading tomorrow. 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.
1st Holdings Inc. (3644) (3644 JQ): The software developer said it will acquire VarioSecure Networks Inc. (3809 JP), which provides network security services, for 6.7 billion yen. 1st Holdings sank 4.7 percent to 510 yen.
Dr. Ci:Labo Co. (4924 JT): The cosmetics developer said net income for the six months to Jan. 31 increased 19 percent to 2.85 billion yen as sales climbed 16 percent. The stock gained 0.2 percent to 325,000 yen.
Eighteenth Bank Ltd. (8396) (8396 JT): The regional bank said it aims to have 3.5 billion yen or more in net income by the year ending March 2014. The stock declined 2.4 percent to 241 yen.
IHI Corp. (7013) (7013 JT): The heavy-machinery maker plans to sell 20 billion yen of five-year convertible bonds to overseas investors, according to a filing with Japan’s finance ministry. The stock declined 2.3 percent to 212 yen.
Isetan Mitsukoshi Holdings Ltd. (3099) (3099 JT): Japan’s largest department-store operator expects operating profit to increase to 30 billion yen in the year starting April 1, 2013, it said in a statement distributed in Tokyo. The stock fell 1.5 percent to 938 yen.
Kirin Holdings Co. (2503 JT): The brewery bought out Trade Ocean Holdings Sdn., which holds 57.25 percent of Interfood Shareholding Co. (IFS) , a Vietnamese soft-drink maker. Kirin retreated 1.3 percent to 1,168 yen.
Nippon Sheet Glass Co. (5202 JT): The glassmaker said it will invest 10 billion yen to expand automotive glass glazing capacity in Poland. The plan includes construction of a plant at Chmielow to make windshields, sidelights and backlights, the company said in a release on its website. The stock lost 1.7 percent to 238 yen.
Ohara Inc. (5218) (5218 JT): The maker of optical glass said net income for the November-January period dropped 84 percent to 75 million yen. The stock fell 3.2 percent to 998 yen.
Orient Corp. (8585) (8585 JT): Stocks of the consumer-credit company, currently listed on the second section of the Tokyo Stock Exchange, will be moved to the first section of the bourse on March 17, according to a statement from the company. The stock slumped 6.5 percent to 101 yen.
Star Micronics Co. (7718 JT): The maker of electronic buzzers and card readers had 160 million yen in net income for the year ended Feb. 28, compared with its forecast of a net loss of 800 million yen, according to a preliminary earnings statement. The stock slid 0.3 percent to 909 yen.
USS Co. (4732 JT), IK Co. (3377 JT): USS, IK and Japan Bike Auction said in a joint statement they agreed to form a business and capital alliance in a motorbike auction business. USS advanced 1.2 percent to 6,620 yen. IK retreated 1.1 percent to 21,500 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.