IHI, Komatsu, Nippon Electric, 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 as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Axell Corp. (6730) (6730 JT): The maker of semiconductor integrated circuits for graphics and sound cut its full-year net income projection by 20 percent to 1.02 billion yen ($12.6 million), with less-than-expected sales. The stock rose 0.8 percent to 2,220 yen.
East Japan Railway Co. (9020) (9020 JT): The rail operator, known as JR East, plans to resume partial operation on the Yamagata bullet train from Fukushima in early April, Kyodo News reported, citing the company. The stock slid 0.4 percent to 4,850 yen.
IHI Corp. (7013) (7013 JT): The maker of components used in Rolls- Royce Group Plc and General Electric Co. jet engines said it hasn’t determined when it will restart two parts factories shut after the March 11 earthquake. The stock advanced 1.6 percent to 186 yen.
Komatsu Ltd. (6301) (6301 JT): Japan’s largest construction machinery maker said in a statement it has resumed some operations at its idled Koriyama plant in Fukushima prefecture and will partially resume operations at its Ibaraki plant this week. The stock increased 0.1 percent to 2,634 yen.
Mitsubishi Corp. (8058) (8058 JT): The trading house plans to increase its proportion of dollar-denominated bonds to 20 percent of outstanding issuance to lower foreign-exchange risk, the Nikkei newspaper reported. The stock rose 1.5 percent to 2,234 yen.
NEC Corp. (6701) (6701 JT): Japan’s biggest maker of personal computers, said it resumed production at plants in Iwate, Fukushima and Miyagi Prefectures, in quake-hit northern Japan. The stock lost 4.7 percent to 184 yen.
Nippon Electric Glass Co. (5214 JT): The glassmaker lowered its full-year net income outlook to 66 billion yen. The company had forecast profit of between 68 billion yen and 74 billion yen. The stock slumped 3.3 percent to 1,145 yen.
Nippon Telegraph & Telephone Corp. (9432) (9432 JT): Japan’s largest maker of phone-network equipment said it’s restoring services in the Tohoku region that were disrupted by the earthquake. The stock slid 1.6 percent to 3,720 yen.
Nissan Motor Co. (7201 JT): Chief Executive Officer Carlos Ghosn said about 40 component suppliers in Japan remain in difficulty after the nation’s record earthquake, complicating automakers’ efforts to restart car production. The stock sank 2.9 percent to 703 yen.
Nipro Corp. (8086) (8086 JT): The maker of medical equipment said it will set up a venture in Bangladesh to produce and sell medical equipment to meet growing demand in the country. The stock fell 1 percent to 1,611 yen.
Okuma Corp. (6103) (6103 JT): The machine-tool maker, which had no dividend payout a year earlier, decided to pay a dividend of 2 yen per share for this fiscal year. The stock dropped 2.1 percent to 690 yen.
Suzuki Motor Corp. (7269) (7269 JT): The automaker will operate four of six plants in Japan on March 24 and 25, the company said in an e-mailed statement. The stock retreated 3.1 percent to 1,728 yen.
Tokyo Electric Power Co. (9501 JT): Asia’s largest utility known as Tepco said gray smoke was seen rising from the No. 3 reactor at the Fukushima Dai-Ichi nuclear plant. Workers were evacuated, a spokesman for the company said. Separately, the company will assess the impact of Japan’s earthquake on its earnings before declaring a second-half dividend. Also, Tepco may receive government aid to help cover compensation payments to those affected by damage to the company’s Fukushima Dai-Ichi nuclear plant, the Nikkei newspaper reported. The stock slumped 4.5 percent to 1,049 yen.
Toyota Motor Corp. (7203) (7203 JT): Japan’s largest automaker may make production “adjustments” in North America as it works to restart operations in Japan after the country’s worst earthquake on record. “We do expect some impact” on output, said Javier Moreno, a Toyota spokesman based in New York. The stock slipped 1.2 percent to 3,305 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.