DeNA, Itochu, KDDI, Mizuho, Renesas, Sony: 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.
DeNA Co. (2432 JT): The operator of game and shopping websites said it agreed to supply a social game platform to Samsung Electronics Co.’s (005930 KS) smartphones sold for the Japanese market. DeNA gained 1.1 percent to 2,840 yen.
Itochu Corp. (8001) (8001 JT): The trading house will spend 5 billion yen ($61 million) for a third of T-Power, a Belgian gas- fired power plant that begins operations next month, the Nikkei newspaper reported. Itochu rose 3.7 percent to 860 yen.
Justsystems Corp. (4686) (4686 JQ): The computer application software developer said full-year net income fell 8.2 percent to 1.83 billion yen on falling sales. The profit was 22 percent more than the company’s outlook. The stock climbed 4.2 percent to 198 yen.
KDDI Corp. (9433) (9433 JT): Japan’s second-largest mobile-phone operator said it and OAO Rostelecom will spend $60 million through 2012 to expand capacity of an underwater cable network and a network connecting Russia’s Nakhodka and Europe. KDDI rose 1.3 percent to 555,000 yen.
Mitsubishi Chemical Holdings Corp. (4188) (4188 JT): The chemical products maker will on May 20 resume production at its Kashima No. 2 plant in quake-hit Ibaraki prefecture, the Nikkei newspaper reported. The stock climbed 1.6 percent to 565 yen.
Mizuho Financial Group Inc. (8411) (8411 JT): The lender and its retail banking unit will receive a business improvement order next week from Japan’s financial regulator following computer system problems, the Nikkei newspaper reported. Mizuho leapt 3.2 percent to 131 yen.
MS&AD Insurance Group Holdings (8725) Inc. (8725 JT), NKSJ Holdings Inc. (8630) (8630 JT) and Tokio Marine Holdings Inc. (8766) (8766 JT): Japan’s three biggest insurance companies will pay more than 600 billion yen in corporate claims related to the March 11 earthquake, the Nikkei newspaper reported. MS&AD gained 0.9 percent to 1,892 yen. NKSJ slid 0.6 percent to 505 yen. Tokio Marine advanced 0.6 percent to 2,197 yen.
Land Business Co. (8944 JT): The property planning and consulting services company said it will buy back up to 3.92 percent of its outstanding shares. The stock rallied 2.6 percent to 14,200 yen.
Matsumotokiyoshi Holdings Co. (3088 JT): The drugstore chain said it expects a 22 percent gain in net income to 8.9 billion yen this fiscal year, with higher sales. The stock rose 1.1 percent to 1,636 yen.
Parco Co. (8251 JT): The shopping center operator forecast net income will fall 9.1 percent to 4 billion yen this fiscal year, citing charges related to quake-damages and store renovations. The stock advanced 2 percent to 668 yen.
Renesas Electronics Corp. (6723) (6723 JT): The world’s biggest maker of microcontrollers used in cars, mobile phones and cameras widened its full-year net loss after Japan’s March 11 earthquake disrupted production. The company said net loss in the year ended March 31 swelled to 115 billion yen from 56.4 billion yen a year earlier. The stock jumped 5.8 percent to 744 yen.
Sony Corp. (6758) (6758 JT): The electronics maker said it fixed a new security problem that hackers could have used to gain access to accounts on its PlayStation Network and Qriocity services, the Wall Street Journal reported. The stock slumped 1.3 percent to 2,245 yen.
Watami Co. (7522 JT): The operator of Japanese-style pubs will partner with a power-generation company to build a 2,000- kilowatt wind turbine in Akita, northern Japan, the Nikkei newspaper said. The stock gained 2 percent to 1,452 yen.
West Japan Railway Co. (9021) (9021 JT): Japan’s third-largest rail operator by market value said it will conduct a 100-for-1 stock split and will adopt a share unit system, which defines 100 shares as one unit. The stock increased 0.5 percent to 304,000 yen.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.