Askul, Fast Retailing, Nippon Yusen, 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.
Arcs Co. (9948 JT): The operator of supermarkets and discount stores had a 30 percent drop in net income to 901 million yen ($11.2 million) for the three months to May 31. The stock gained 1.1 percent to 1,248 yen.
Askul Corp. (2678) (2678 JT): The distributor of office equipment booked a loss of 1.02 billion yen for the year ended May 20, compared with a profit of 3.49 billion yen a year earlier, because of impairment losses on its purchasing system. The company projected it will have a profit of 2.7 billion yen this fiscal year. The stock climbed 3.6 percent to 1,381 yen.
Chubu Electric Power Co. (9502 JT): The utility is asking the government to subsidize interest on bank loans and to reduce taxes on oil and coal for the extra amount of fossil fuels it will use to replace output from a shut down nuclear plant. The government ordered Chubu to shut reactors on Japan’s eastern coast following the Fukushima accident. The stock rallied 1.7 percent to 1,579 yen.
Citizen Holdings Co. (7762 JT): Operating profit fell 20 percent drop to about 2.3 billion yen in the April-June period, the Nikkei newspaper reported without citing anyone. A slump in manufacturing because of the March earthquake damaged profit at the maker of watches and machine tools, according to the report. The stock dropped 1.5 percent to 477 yen.
Daiichi Sankyo Co. (4568 JT): The drugmaker and GlaxoSmithKline Plc (GSK) reached an agreement on the co- promotion in Japan of Rotarix, Glaxo’s vaccine for rotavirus infection in children, the companies said in an e-mailed statement. Daiichi Sankyo rose 1.2 percent to 1,583 yen.
Fast Retailing Co. (9983 JT): Asia’s biggest apparel chain said same-store sales at its Uniqlo casual clothing stores in Japan rose 3.9 percent in June from a year ago. Hotter weather in the second half of the month boosted sales of summer clothing, the company said in a statement to the Tokyo Stock Exchange. The stock rallied 2.5 percent to 13,000 yen.
Fuji Co. (8278 JT): The shopping-center chain narrowed its net loss forecast for the six months ending Aug. 31 to 400 million yen from 650 million yen, citing sales of food and cost cuts. The stock gained 1.4 percent to 1,679 yen.
Gree Inc. (3632 JT): The nation’s second-largest networking service company is considering an overseas listing, according to an interview with the company’s president, Yoshikazu Tanaka. The stock rose 0.3 percent to 1,738 yen.
Kisoji Co. (8160 JT): The restaurant chain operator said M&K YK, its biggest shareholder, will sell 1.3 million shares of Kisoji shares to the public. The offer price will be set between July 12 and 14. The stock rose 1.5 percent to 1,658 yen.
Mars Engineering Corp. (6419) (6419 JT), Tohken Co. (6738 JQ): Mars Engineering, a maker of pachinko equipment, plans to buy out Tohken, which makes barcode readers and X-ray inspection systems, in a stock transaction. Mars will pay 0.08 share for each of Tohken, which will delist its shares from the Jasdaq exchange on Aug. 29, according to a statement to the Tokyo Stock Exchange. Mars Engineering gained 1 percent to 1,280 yen. Tohken dropped 1.2 percent to 81 yen.
Mitsui O.S.K. Lines Ltd. (9104 JT): Japan’s second-biggest shipping line by revenue was raised to “neutral” from “underperform” at Mizuho Securities Co. The stock climbed 1.4 percent to 439 yen.
Nippon Yusen K.K. (9101 JT): Japan’s largest shipper had its rating reduced to “neutral” from “outperform” at Mizuho Securities Co. The stock advanced 1.7 percent to 301 yen.
Panasonic Corp. (6752) (6752 JT), Toppan Printing Co. (7911 JT), Tomoegawa Co. (3878 JT): The companies said in a joint statement that they will set up a venture to manufacture optical film used for smartphones and liquid crystal displays. Panasonic gained 1 percent to 998 yen. Toppan increased 0.5 percent to 623 yen. Tomoegawa advanced 1 percent to 194 yen.
Rakuten Inc. (4755) (4755 JQ): The online retailer’s net loss for the January-June period totaled about 33 billion yen, compared with a profit of 17.1 billion yen a year ago, the Nikkei newspaper reported without saying where it obtained the information. A sale of its consumer financial business hurt its profit, according to the report. The stock retreated 1.9 percent to 79,300 yen.
Sony Corp. (6758) (6758 JT): The maker of the PlayStation 3 game consoles said it will resume full game network services in Japan this week, completing the final stretch of a 2 1/2 month restoration of its online operations after they were attacked by hackers. The stock increased 0.3 percent to 2,132 yen.
Toppan Printing Co. (7911 JT): The printing company said it established a joint venture with Peeq Media LLC (7618163Z US), a New York-based company that develops film and photographic prints, to merge their commercial printing operations in the U.S. Toppan Printing gained 0.5 percent to 623 yen.
Toyota Motor Corp. (7203) (7203 JT): The world’s largest carmaker plans to spend $35 million establishing a regional vehicle, equipment and parts-distribution centre with an expanded vehicle-assembly plant in Kenya by the end of the year.
Toyota is suspending output at its units in Brazil and Argentina in July because of delays in the supply of auto parts after March’s earthquake and tsunami in Japan, according to an e-mailed statement. The stock gained 1.5 percent to 3,385 yen.
United Arrows Ltd. (7606 JT): The apparel chain said sales at stores open for at least 13 months jumped 14.4 percent in June from a year earlier, as customer traffic climbed 12 percent. The stock rose 0.3 percent to 1,709 yen.
To contact the reporter on this story: Akiko Ikeda in Tokyo at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.