Fast Retailing, Ibiden, Idemitsu, Toyota: 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.
Daiwa Securities Group Inc. (8601) (8601 JT): The financial services company’s debt rating may be cut by Moody’s Investors Service, which cited downward pressure on earnings at the brokerage. The stock fell 0.9 percent to 338 yen.
Fast Retailing Co. (9983 JT): The apparel retailer said same-store sales at its Uniqlo casual clothing stores in Japan rose 11.2 percent in July from a year ago as it saw strong sales of summer business clothing due to hot weather. The stock slipped 0.3 percent to 13,970 yen.
Honda Motor Co. (7267 JT): Japan’s third-largest automaker plans to invest at least $500 million to build a car factory in Mexico, El Financiero newspaper reported. The stock slipped 0.5 percent to 3,110 yen.
Ibiden Co. (4062 JT): The maker of electronics and ceramics cut its full-year profit forecast 48 percent to 12.3 billion yen ($159 million), citing a slowdown of the U.S. and European economies and concern anti-inflation measures in emerging markets will damp growth. The stock fell 2.8 percent to 2,297 yen.
Idemitsu Kosan Co. (5019 JT): The petroleum refiner boosted its full-year net income forecast by 5.3 percent to 60 billion yen. The stock increased 1.7 percent to 9,210 yen.
Kubota Corp. (6326) (6326 JT): The farm equipment maker said net income grew 27 percent to 13.6 billion yen for the quarter ended June 30. The stock declined 2.5 percent to 703 yen.
Namco Bandai Holdings Inc. (7832) (7832 JT): The toymaker raised its six-month profit forecast more than sixfold to 3.2 billion yen, citing toy sales and revenue growth at “amusement facilities” in Japan. The stock climbed 0.2 percent to 977 yen.
Nissan Motor Co. (7201 JT): The maker of the all-electric Leaf car said it will introduce a ‘Leaf to Home’ electricity power supply system in Japan which will allow electricity stored in the Leaf’s battery to be distributed to ordinary households and to charge home appliances. Separately, Nissan said its North America sales grew 2.7 percent in July. The stock fell 1.6 percent to 820 yen.
Renesas Electronics Corp. (6723) (6723 JT): The electronics chipmaker reported its net loss widened by 0.5 percent from a year earlier to 33.2 billion yen for the quarter ended June 30 as sales dropped 29 percent to 207 billion yen. The stock slid 1.9 percent to 656 yen.
Toyota Motor Corp. (7203) (7203 JT): The world’s biggest automaker raised its full-year profit forecast by 39 percent to 390 billion yen, citing a quicker than expected recovery from the March 11 earthquake. Toyota also said it expects to enter a production recovery phase in September, one month earlier than previously announced. Separately, Toyota said U.S. sales fell 23 percent in July. The stock declined 0.3 percent to 3,160 yen.
To contact the reporter 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