DeNA, Hitachi, Inpex, Sekisui, 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 from the previous close. The information in each item was released after markets shut, unless stated otherwise.
Rail project: The Japanese government will invest with a group of Japanese companies including Keihan Electric Railway Co. (9045 JO), Marubeni Corp. (8002) (8002 JT), Sojitz Corp. (2768) (2768 JT) and Tokyu Land Corp. (8815) (8815 JT) in rail projects in Indonesia, Mongolia and Vietnam expected to cost a combined 535 billion yen ($6.6 billion), the Nikkei newspaper reported. Keihan fell 1.5 percent to 337 yen. Marubeni sank 3.1 percent to 524 yen. Sojitz lost 2.1 percent to 140 yen. Tokyu Land dropped 3.2 percent to 332 yen.
DeNA Co. (2432 JT): The online social media site operator forecast net income will rise to 9.2 billion yen for the quarter ending June 30, which is 21 percent more than its previous forecast of 7.6 billion yen. The shares lost 1.7 percent to 3,130 yen.
Hitachi Ltd. (6501) (6501 JT): The company, which makes nuclear- power systems, is ready to supply technology and invest in Lithuania’s planned atomic power plant, Hitachi President Hiroaki Nakanishi said. The stock fell 3.4 percent to 458 yen.
Inpex Corp. (1605) (1605 JT): Apache Corp., the U.S. oil company planning to double its investment in Australia in the next five years, aims to start production by June 2013 at the Coniston oil project off the country’s west coast. Inpex is a partner in the Coniston venture, Apache said. Inpex shares declined 3.8 percent to 565,000 yen.
Nissan Motor Co. (7201 JT): The automaker and Renault SA (RNO) will together seek annual global sales of more than 10 million vehicles over the next five years, an increase of 40 percent from last year, public broadcaster NHK reported. Nissan declined 2 percent to 794 yen.
NTT Urban Development Corp. (8933) (8933 JT): The developer said it purchased an office building in central London from King William Property Ltd. for 67.5 million pounds ($109 million). The stock declined 2.4 percent to 64,800 yen.
Sekisui House Ltd. (1928) (1928 JT): The maker of family houses plans to sell at least 50 billion yen of five-year convertible bonds. The shares lost 1.9 percent to 760 yen.
Sony Corp. (6758) (6758 JT): The electronics maker plans to invest 1 billion yen to double output of film used in touch panels for smartphones and tablet computers, the Nikkei newspaper reported, without citing anyone. The stock fell 1.7 percent to 2,001 yen.
Tokyo Electric Power Co. (9501 JT): Japan’s banking lobby chief reiterated that lenders aren’t considering forgiving loans made to Tokyo Electric, the owner of the crippled nuclear plant from the March earthquake and ensuing tsunami. The stock lost 2.7 percent to 320 yen.
Tokyo Tatemono Co. (8804 JT): The developer will invest 30 billion yen with China Vanke Co. (000002 CH) to develop condominiums and commercial property in four Chinese cities, the Nikkei newspaper reported. Tokyo Tatemono retreated 1.8 percent to 277 yen.
Toshiba Corp. (6502) (6502 JT), Sharp Corp. (6753 JT): The electronics makers and at least 13 other makers of liquid- crystal-display panels were sued by retailer P.C. Richard & Son Inc. over claims they conspired to fix prices. Toshiba dropped 1.5 percent to 401 yen. Sharp fell 1.1 percent to 710 yen.
Toyota Motor Corp. (7203) (7203 JT): The world’s largest automaker said vehicle production at its plants in North America is recovering faster than planned and will return to normal in September. The stock lost 1.7 percent to 3,195 yen.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.