Bridgestone, FamilyMart, Nissan, Ushio: 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.
ABC-Mart Inc. (2670) (2670 JT): The shoe retailer’s same-store sales increased 5.9 percent in August from a year earlier, buoyed by higher customer traffic, according to the statement. The stock rose 0.6 percent to 2,857 yen.
BLife Investment Corp. (8984) (8984 JT): The real-estate investment trust plans to raise as much as 19.3 billion yen ($251 million) by selling shares to the public, according to a filing with Japan’s finance ministry. The stock slid 0.9 percent to 487,000 yen.
Bookoff Corp. (3313) (3313 JT): The used-book retailer said its same-store sales in Japan dropped 3.8 percent in August from the same month a year earlier, citing a slump in sales of CDs and DVDs. The stock lost 1.9 percent to 677 yen.
Bridgestone Corp. (5108) (5108 JT): The world’s largest tiremaker by sales is preparing to increase production by January, Chief Financial Officer Akihiro Eto told reporters in Tokyo. Also, Bridgestone has no plan to raise prices to counter higher materials costs, President Shoshi Arakawa told reporters. The stock lost 2.8 percent to 1,657 yen.
First Juken Co. (8917 JO): The homebuilder and property developer said nine-month net income fell 12 percent to 1.46 billion yen. The stock declined 2.5 percent to 595 yen.
FamilyMart Co. (8028 JT): The convenience store chain’s first-half operating profit probably reached a record 24 billion yen, beating its 22.1 billion yen outlook, the Nikkei newspaper reported. The stock rose 0.3 percent to 2,814 yen.
Hi-Lex Corp. (7279) (7279 JO): The cable maker said nine-month net income fell 37 percent to 4.24 billion yen, dragged down by a slump in domestic demand after the March earthquake. The company raised its full-year net income outlook 9.9 percent to 5.65 billion yen, citing a quicker-than-expected recovery in Japan’s car industry. The stock slipped 0.9 percent to 1,352 yen.
Nikkiso Co. (6376 JT): The medical-equipment maker will spend as much as $30 million to boost its output capacity for aircraft engine parts in Vietnam, Nikkiso said in a release. The stock retreated 0.4 percent to 701 yen.
Nissan Motor Co. (7201 JT): The automaker’s August new car sales rose 26 percent to about 94,700 units in China, the Nikkei newspaper said. Nissan reported a fourth consecutive month of more than 10 percent growth in the Chinese market, according to the newspaper. The stock sank 3.7 percent to 677 yen.
Nissen Holdings Co. (8248 JO): The mail-order company said it will acquire 6.26 percent of closely held Venus Veil Ltd. (VNVELZ CH), which offers similar services in China. Nissen rose 0.7 percent to 459 yen.
Pigeon Corp. (7956) (7956 JT): The maker of baby-care products said first-half net income rose 11 percent to 1.21 billion yen, citing higher sales. The stock advanced 2 percent to 2,780 yen.
Poplar Co. (7601 JT) and Tsuruha Holdings Inc. (3391) (3391 JT): The retailers agreed to end a business alliance they formed in July last year, the companies said in a joint statement. Poplar, a convenience-store chain, rose 0.2 percent to 433 yen. Tsuruha, a drugstore chain, rose 0.3 percent to 3,910 yen.
Square Enix Holdings Co. (9684 JT): The game-software maker will release the latest game in its “Dragon Quest” franchise in 2012, designer Yuji Horii said at a briefing. The new game will be released for Nintendo Co.’s (7974 JO) Wii and next- generation Wii U consoles, game producer Yosuke Saito said. Square Enix sank 2.4 percent to 1,762 yen. Nintendo fell 1.5 percent to 12,970 yen.
Tomoe Engineering Co. (6309 JT): The maker of chemical materials said nine-month net income climbed 22 percent to 1.33 billion yen, citing lower personnel costs. The stock gained 2.3 percent to 1,455 yen.
Toyota Motor Corp. (7203) (7203 JT): The carmaker will cease Japanese exports of its Camry sedan to North America after announcing a redesign of the model, Kyodo News reported. Toyota hasn’t suspended exporting the Camry to the U.S., according to Paul Nolasco, a company spokesman. The stock slid 2.6 percent to 2,640 yen.
Ushio Inc. (6925) (6925 JT): The maker of lamps and optical equipment said it will spend as much as 1.5 billion yen to buy back up to 0.76 percent of its outstanding shares from Sept. 6 through Sept. 22. The stock retreated 1.5 percent to 1,242 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org