JAPAN DAYBOOK: Tokyo Electric Costs Mount, Japan Spending
Tokyo Electric Power shareholders face clean-up costs for the company’s nuclear disaster. Prime Minister Naoto Kan aims to draft a supplementary budget next month to pay for reconstruction and support the economy after the March 11 earthquake and tsunami.
WHAT TO WATCH *Prime Minister Kan, Chief Cabinet Secretary Edano in lower house session 12 pm *Chief Cabinet Secretary Edano holds morning, afternoon briefings *Prime Minister Kan meets French President Sarkozy 7 pm *Finance Ministry foreign exchange intervention report 7 pm
ECONOMY *Labor cash earnings for February 10:30 am. Survey +0.3% *Housing starts for February 2 pm. Survey +7.4% *Construction orders for February 2 pm *Super market sales for February 2 pm
CORPORATE ACTIONS *Toray (3402 JP), Daimler (DAI GR) form venture *Seven & I (3382 JP) completes acquisition of Exxon Mobil (XON US) stations *Seven & I (3382 JP) completes acquisition of Tower Records Japan stake *Itochu (8001 JP) completes purchase of Pocket Card (8519 JP) stake *FamilyMart (8028 JP) completes purchase of Pocket Card (8519 JP) stake *Sumitomo Mitsui (8316 JP) completes purchase of Pocket Card (8519 JP) stake *Promise (8574 JP) completes sale of Pocket Card (8519 JP) stake
ANALYST RATINGS *Taiyo Yuden (6976 JP) raised to overweight at JPMorgan
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