Honda, Fast Retailing, Sumitomo Realty: 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.
Bals Corp. (2738) (2738 JT): The furniture retailer said it will be bought through a management buyout. The buyer will offer 100,000 yen a share, spending as much as 15.8 billion yen ($206 million), according to a statement. Also, Bals swung to a first- half net loss of 60 million yen from a 426 million yen profit a year earlier, citing charges from a change in its accounting method and disaster-related losses. The stock rose 1 percent to 68,500 yen.
Daikyo Inc. (8840) (8840 JT): The property developer boosted its first-half net income projection by 23 percent to 6.9 billion yen with higher-than-expected sales. The stock fell 0.7 percent to 136 yen.
Fast Retailing Co. (9983 JT): Asia’s biggest apparel chain said same-store sales at its Uniqlo casual clothing stores in Japan fell 9.4 percent in August from a year earlier. Cooler temperatures led to sluggish sales of summer clothing, the retailer said in a statement. The stock lost 2.3 percent to 14,140 yen.
Honda Motor Co. (7267 JT): The automaker plans to raise domestic minicar sales to 300,000 over the next five years, doubling the percentage of minicars in its overall mix to more than 40 percent, the Nikkei newspaper reported. Honda, Japan’s No. 2 automaker by market value, lost 2 percent to 2,507 yen.
Nippon Parking Development Co. (2353 JT): The parking-lot services company said it expects a 30 percent gain in net income to 1.11 billion yen this fiscal year on growing sales. The stock slid 1 percent to 3,540 yen.
Nissan Motor Co. (7201 JT): The carmaker will send as many as 25 Leaf electric cars to China’s Wuhan city for trial by next spring, according to Vice President Masami Misaki in an interview in Tianjin. Nissan, Japan’s third biggest carmaker by market value, fell 1.7 percent to 703 yen.
Senshu Electric Co. (9824 JT): The distributor of cable and wire products said nine-month net income jumped 70 percent to 1.3 billion yen from a year earlier on a 29 percent advance in sales. The stock increased 0.9 percent to 1,059 yen.
Sumitomo Realty & Development Co. (8830 JT): The real- estate company’s Baa2 debt rating may be cut by Moody’s Japan K.K., which said that Sumitomo Realty “may not improve its leverage in a timely manner, given the challenging market conditions.” Sumitomo Realty, Japan’s third-largest developer by market value, sank 4.6 percent to 1,544 yen.
Toyota Motor Corp. (7203) (7203 JT): The automaker is studying introducing plug-in hybrid cars in China, according to Managing Officer Hiroyoshi Yoshiki at a conference in the city of Tianjin. Toyota, the world’s largest carmaker, slipped 1.6 percent to 2,711 yen.
United Arrows Ltd. (7606) (7606 JT): The apparel chain said same- store sales increased 7.8 percent in August from a year earlier, buoyed by higher sales per customer. The stock retreated 2 percent to 1,402 yen.
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