Kandenko, Kyushu Electric, Mitsui Mining: 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.
Daiichikosho Co. (7458 JQ): The maker of karaoke equipment forecast full-year net income will be 9.3 billion yen ($116 million), 3 percent less than the profit reported for the year ended March 31. The stock rose 0.6 percent to 1,317 yen.
EAccess Ltd. (9427) (9427 JT): The provider of mobile and fixed- line broadband services will sell two smartphone models from Huawei Technologies Co. (40978Z CH) in Japan, the Nikkei newspaper reported. EAccess gained 0.7 percent to 36,700 yen.
Kandenko Co. (1942 JT): The engineering company affiliated with Tokyo Electric Power Co. (9501 JT) forecast full-year net income will be 1.6 billion yen, compared with 5.87 billion yen profit for the year ended March 31. Kandenko rose 0.3 percent to 341 yen.
Kansai Paint Co. (4613 JT): Japan’s biggest paint maker by market value forecast full-year net income will be 14 billion yen, compared with 12.7 billion yen profit for the year ended March 31. The stock increased 0.7 percent to 690 yen.
Kyushu Electric Power Co. (9508 JT): The utility based in the southern city of Fukuoka, Japan, will postpone a sale of five-year bonds that was scheduled for this month, according to an e-mailed statement today from Nomura Securities Co. The stock dropped 2.3 percent to 1,071 yen.
Marubeni Corp. (8002) (8002 JT) and Chubu Electric Power Co. (9502 JT): The companies are close to winning an order for a gas-fired combined-cycle power plant in Oman with a Qatari utility, the Nikkei newspaper reported. Marubeni shares fell 1.5 percent to 527 yen. Chubu Electric climbed 0.3 percent to 1,152 yen.
Mitsui Mining & Smelting Co. (5706 JT): The zinc smelter said it restarted its Hachinohe smelting facility in Aomori prefecture, northern Japan, on June 10. The stock declined 0.4 percent to 249 yen.
Taiheiyo Cement Corp. (5233) (5233 JT): Japan’s biggest cement maker by market value said it will use one of its halted factories in northern Japan to incinerate rubble from neighboring areas damaged by the March 11 earthquake and tsunami. The process will start on June 22 and run until about August, it said. The stock was unchanged at 150 yen.
Tokyo Electric Power Co. (9501 JT): The utility may raise electricity rates by 16 percent next fiscal year under a plan designed to deal with the aftermath of a nuclear accident in northern Japan, the Mainichi newspaper said. The stock gained 4.7 percent to 199 yen.
Toyota Motor Corp. (7203) (7203 JT): The automaker will be able to return to normal production by October, one month earlier than planned, the Nikkei newspaper reported. Normal production outside Japan will not return to normal as fast as domestic output, the report said. The shares lost 2.4 percent to 3,220 yen.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.