Aeon, All Nippon, IHI, Panasonic, 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 as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Access Co. (4813 JT): The browser software developer said first-half net loss widened to 1.12 billion yen ($15 million) from a 542 million yen a year earlier, as sales plunged by 51 percent. The company had forecast a 1.85 billion loss in the six months ended July 31. The stock advanced 2.2 percent to 65,700 yen.
Aeon Co. (8267 JT), Daiwa House Industry Co. (1925 JT): Aeon, Japan’s biggest supermarket chain, said it will buy out its shopping center management venture with Daiwa House from the home builder. Aeon rose 1.2 percent to 961 yen. Daiwa House climbed 1.1 percent to 944 yen.
All Nippon Airways Co. (9202 JT): Japan’s largest listed carrier named Kazuyuki Iwakata president of its new budget carrier AirAsia Japan Co. The carrier, which is forming the unit with Malaysia’s AirAsia Bhd. (AIRA MK), set up AirAsia Japan yesterday and plans to start flights from August 2012, it said in a statement released in Tokyo. All Nippon was unchanged at 253 yen.
Askul Corp. (2678) (2678 JT): The distributor of office equipment said sales rose to 16 billion yen in the month ended Aug. 20, up 6.1 percent from a year earlier. The stock sank 2.6 percent to 1,032 yen.
IHI Corp. (7013) (7013 JT): The heavy-machinery maker said it will buy back up to 0.17 percent of its total shares. The stock advanced 2.1 percent to 192 yen.
JX Holdings Inc. (5020) (5020 JT): JX Nippon Oil & Energy Corp., Japan’s largest refiner and a unit of JX Holdings, plans to process 5.11 million kiloliters of crude oil in September, 9 percent less than a year earlier, Senior Vice President Tsutomu Sugimori told reporters in Tokyo. Also, JX Nippon Oil & Energy said it plans to shut its No. 3 crude distillation unit at its Mizushima refinery in September. The stock rose 1.7 percent to 482 yen.
Morozoff Ltd. (2217) (2217 JT): The confectioner boosted its full- year net income outlook 38 percent to 220 million yen, citing lower costs related to administrations and personnel. The stock slipped 0.4 percent to 267 yen.
Panasonic Corp. (6752) (6752 JT): The electronics maker will provide cameras and equipment for three-dimensional broadcast of the 2012 London Olympics, Takumi Kajisha, a company spokesman, told reporters in Berlin. The stock lost 1.6 percent to 809 yen.
Park24 Co. (4666 JT): The parking-lot operator said nine- month net income fell 22 percent to 3.66 billion yen, dragged down by charges from a change in its accounting methods and disaster-related losses. The stock fell 0.6 percent to 884 yen.
Sony Corp. (6758) (6758 JT): Japan’s largest exporter of consumer electronics will merge its various entertainment networks for music, video and games into the re-branded Sony Entertainment Network, Executive Deputy President Kazuo Hirai said in Berlin. Also, Sony Chief Executive Officer Howard Stringer said sales are higher than before the hacker attack on its network earlier this year. Sony slid 1.8 percent to 1,665 yen.
Tokyo Electric Power Co. (9501 JT): The Development Bank of Japan may provide a publicly backed loan this fall if the utility shows it can avoid negative net worth, the Nikkei newspaper reported, citing DBJ President Toru Hashimoto. Tokyo Electric, known as Tepco, fell 0.8 percent to 386 yen.
Toshiba Corp. (6502) (6502 JT), Sony Corp. (6758 JT) and Hitachi Ltd. (6501) (6501 JT): The electronics makers agreed to spin off and merge their display businesses, paving the way for the creation of the world’s largest maker of screens used in mobile phones and cameras, according to a statement by the three companies. Toshiba lost 2.4 percent to 331 yen. Hitachi increased 0.5 percent to 413 yen.
Yamato Kogyo Co. (5444 JT): The maker of railway-track components said it will buy back up to 0.14 percent of its outstanding shares through Sept. 30. The stock gained 3.5 percent to 1,965 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com