Digital Garage, Noda, Suzuki Motor, Toho: 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.
Digital Garage Inc. (4819) (4819 JQ): The web solution provider and business incubator said it will sell shares to the public for 268,800 yen ($3,346) each to raise as much as 8 billion yen. The stock dropped 3.7 percent to 280,000 yen.
Ferrotec Corp. (6890) (6890 JQ): The electronic component maker said it plans to raise as much as 7.36 billion yen in a public share sale. The stock climbed 0.7 percent to 1,787 yen.
JX Holdings Inc. (5020) (5020 JT): The oil company’s pretax profit may double in the April-June quarter to about 130 billion yen from a year earlier, the Nikkei newspaper reported. The stock slid 0.3 percent to 549 yen.
Mitsubishi Corp. (8058) (8058 JT): The trading company and partner Royal Dutch Shell Plc (RDSA LN) will sign an initial agreement with Iraqi officials tomorrow to start a $12.5 billion natural- gas project in Iraq that had been delayed, a spokesman at the country’s Oil Ministry said. Mitsubishi Corp. fell 1.3 percent to 2,071 yen.
Mitsui Chemicals Inc. (4183) (4183 JT): The chemical products maker said it will increase production of polypropylene at its U.S. and Mexico plants. The stock was unchanged at 294 yen.
Noda Corp. (7879) (7879 JT): The maker of wood and ceramic building materials cut its net income forecast to 800 million yen for the year ending Nov. 30, from its previous outlook of 1.06 billion yen. The stock dropped 4.7 percent to 284 yen.
Suzuki Motor Corp. (7269) (7269 JT): The motorcycle and carmaker said it will relocate its research and development center for two wheelers and next generation vehicles and its two wheeler engine factory to Hamamatsu, Shizuoka prefecture, in central Japan to diversify its functions after Japan’s record earthquake in March. The stock slipped 0.6 percent to 1,859 yen.
Toho Co. (9602 JT): The maker and distributor of motion pictures said it plans to invest 23.2 billion yen to develop a complex in Tokyo’s Shinjuku area including a hotel and cinema. The company reported net income of 900 million yen for the quarter ended May 31, down 68 percent from a year earlier. The stock slid 0.5 percent to 1,358 yen.
Toyota Motor Corp. (7203) (7203 JT): The automaker’s Europe division’s sales rose 4.6 percent in the first half of the year, the company said. The stock fell 0.7 percent to 3,420 yen.
To contact the reporters on this story: Anna Kitanaka in Tokyo at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.