Japan Tobacco, Nintendo, Softbank, 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.
Chubu Electric Power Co. (9502 JT): The operator of the suspended Hamaoka nuclear plant in central Japan said it has damaged fuel stored for about 17 years in a reactor being decommissioned at the plant. The fuel rod, damaged in an accident in December 1994, remains in the spent-fuel pool for the No. 1 reactor that stopped operating in 2009, Atsuo Sawaki, a company spokesman, said by phone from Nagoya. The company kept the fuel there as it was unable to find a special cask to transfer it to reprocessing facilities, he said. The stock slid 0.3 percent to 1,379 yen.
CSK Corp. (9737) (9737 JT): The computer-services company reported 1.44 billion yen ($18.5 million) in net income for the three months ended June 30, compared with a loss of 8.33 billion yen a year earlier. The stock fell 0.9 percent to 324 yen.
East Japan Railway Co. (9020) (9020 JT): The nation’s largest train operator by sales projected full-year net income will rise 38 percent to 105 billion yen. It reported a 50 percent drop in first-quarter profit. The stock declined 2.2 percent to 4,790 yen.
Fuji Electric Co. (6504 JT): The maker of electronic devices had a net loss of 5.38 billion yen n the three months ended June 30, compared with a profit of 9.95 billion yen a year earlier.
The company will spend 18.5 billion yen to increase semiconductor capacity at its plant in Yamanashi prefecture. The stock slid 0.8 percent to 258 yen.
Fujitsu Ltd. (6702) (6702 JT): Japan’s biggest computer-services provider reported a net loss of 20.4 billion yen for the April- June period, compared with a profit of 1.64 billion yen a year earlier. The stock fell 1.5 percent to 464 yen.
Japan Tobacco Inc. (2914) (2914 JT): The world’s third-largest publicly traded cigarette maker said net income may increase 11 percent to 161 billion yen this fiscal year after the company raised prices in Russia and other overseas markets.
The company agreed to acquire Haggar Cigarette & Tobacco Factory Ltd. (6057458Z US), which operates in Sudan and South Sudan, for about $450 million as it boosts overseas sales. The stock advanced 1.4 percent to 337,500 yen.
Kansai Electric Power Co. (9503 JT): Japan’s second-biggest utility withdrew its full-year sales and profit forecasts, saying it can’t assess the impact on its earnings from power- savings measures and reactor halts after the Fukushima nuclear disaster. The stock slid 0.5 percent to 1,357 yen.
Komatsu Ltd. (6301) (6301 JT): The world’s second-largest maker of construction and mining equipment reported net income gained 82 percent in the first-quarter to 55.7 billion yen, aided by rising demand in North America and Southeast Asia. The stock increased 0.1 percent to 2,452 yen.
Konica Minolta Holdings Inc. (4902) (4902 JT): The maker of film used in liquid-crystal displays projected net income will decline 65 percent to 3 billion yen in the six months to Sept. 30. It reported a loss of 110 million yen for the first quarter, compared with a profit of 3.49 billion yen a year earlier. The stock dropped 0.8 percent to 653 yen.
Kyocera Corp. (6971) (6971 JT): The electronic equipment maker reported a 17 percent drop in net income to 24.8 billion yen for the quarter ended June 30 on lower sales. The stock was unchanged at 8,260 yen.
Mitsui Fudosan Co. (8801 JT): Japan’s biggest developer by revenue said net income increased 44 percent to 6.47 billion yen in the three months ended June 30 as the company earned more from houses and apartments following the country’s strongest earthquake on March 11. The stock slid 0.9 percent to 1,439 yen.
NEC Corp. (6701) (6701 JT): Japan’s largest maker of telecom equipment forecast a net loss of 15 billion yen for the six months ending Sept. 30, less than the previous year’s 27 billion yen loss. The stock declined 2.2 percent to 177 yen.
NGK Insulators Ltd. (5333) (5333 JT): Operating profit at the maker of electrical insulators and industrial ceramic products declined 15 percent to 8.43 billion yen in the three months ended June 30, compared with a year earlier, according to a statement to the Tokyo Stock Exchange. The stock retreated 2.5 percent to 1,422 yen.
Nintendo Co. (7974 JO): The world’s largest maker of video- game players slashed its net income forecast 82 percent to 20 billion yen after lower-than-expected sales of its new 3-D handheld player led the company to cut prices of the product.
Nintendo will cut the price of the 3DS by 40 percent to 15,000 yen from August in the face of mounting competition from Apple Inc. (AAPL)’s iPhone and online games played on Facebook Inc.’s service. Nintendo gained 0.1 percent to 14,000 yen.
Panasonic Corp. (6752) (6752 JT): The electronics maker posted a net loss of 30.4 billion yen for the three months ended June 30, compared with a profit of 43.7 billion yen a year earlier. The result compares with the 36.3 billion yen loss average of three analyst estimates compiled by Bloomberg.
Separately, the company said it has agreed to sell the washing machine and refrigerator businesses of its Sanyo Electric Co. unit in some Asian nations to Chinese appliance maker Haier Group Corp. Panasonic increased 0.5 percent to 929 yen.
Renesas Electronics Corp. (6723) (6723 JT): The world’s biggest maker of microcontrollers used in cars and electric appliances will sell its audio processor business to Murata Manufacturing Co. (6981 JO), the Nikkei Newspaper reported without saying where it got the information.
Sharp Corp. (6753 JT): Japan’s largest maker of liquid- crystal displays posted a net loss of 49.3 billion yen for the three months ended June 30, compared with a profit of 10.7 billion yen a year earlier. The stock lost 1 percent to 714 yen.
Shinsei Bank Ltd. (8303) (8303 JT): The lender’s net income increased 31 percent to 18.2 billion yen in the April-June period, compared with a year earlier, according to a statement to the Tokyo Stock Exchange. The stock gained 1.1 percent to 89 yen.
Softbank Corp. (9984) (9984 JT): Japan’s exclusive carrier for Apple Inc.’s (AAPL US) iPhone reported an almost fivefold surge in first-quarter net income to 94.8 billion yen, fueled by revenue from smartphone users. The stock sank 1.6 percent to 3,120 yen.
Sony Corp. (6758) (6758 JT): Japan’s biggest exporter of consumer electronics by sales cut its full-year net income forecast by 25 percent to 60 billion yen after a slump in demand led the company to lower its estimate for television sales. The stock fell 1.1 percent to 2,013 yen.
Sumitomo Electric Industries Ltd. (5802) (5802 JT): Net income at the component and wire maker slumped 78 percent to 4.16 billion yen in the three months ended June 30 as sales fell 9.5 percent, according to a statement to the Tokyo Stock Exchange. The stock slid 0.1 percent to 1,197 yen.
TDK Corp. (6762) (6762 JT): Net income at the world’s biggest maker of magnetic heads for disk drives fell 83 percent to 2.42 billion yen in the three months ended June 30 as sales fell. The stock dropped 1.1 percent to 4,225 yen.
Terumo Corp. (4543) (4543 JT): The maker of medical devices said net income increased 11 percent to 9.77 billion yen in the three months ended June 30 as sales rose. The stock slipped 0.2 percent to 4,515 yen.
Toshiba Corp. (6502) (6502 JT): The world’s second-largest maker of flash memory chips posted 470 million yen in first-quarter net income, exceeding analyst estimates, on demand for power systems and home appliances. Analysts expected a loss of 7 billion yen, based on the average of five estimates compiled by Bloomberg. The stock fell 0.5 percent to 409 yen.
Toyota Motor Corp. (7203) (7203 JT): The world’s biggest automaker by market value said it’s not likely to begin posting U.S. sales gains again for at least two more months. Sales will fall again in July after dropping 33 percent in May and 21 percent in June, Bob Carter, Toyota’s group vice president for U.S. sales, said. The stock declined 2.2 percent to 3,185 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com.