Bic Camera, Fast Retailing, Ono, Seven & I: Japan Stock 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 1.7 percent in September from a year earlier, buoyed by rising customer traffic, according to the statement. The stock gained 1.3 percent to 3,010 yen.
Bic Camera Inc. (3048) (3048 JT): The consumer electronics retailer’s current profit, or pretax profit from operations, rose by about 90 percent to more than 22 billion yen in the fiscal year ended August, beating its 17.6 billion yen estimate, the Nikkei newspaper reported. The stock slid 1.3 percent to 41,300 yen.
Bookoff Corp. (3313) (3313 JT): The used-book retailer said its same-store sales in Japan dropped 7.9 percent in September from the year-earlier period, citing a slump in sales of CDs and DVDs and lower customer traffic due to storms last month. The stock fell 1.8 percent to 668 yen.
Chubu Electric Power Co. (9502 JT): The utility estimates spare capacity of 7 percent, short of the 8 percent cushion necessary for stable supply in December-February, Jiji Press reported, citing comments at a press briefing from the utility’s president. The stock slid 0.1 percent to 1,448 yen.
Fast Retailing Co. (9983 JT): Asia’s biggest apparel chain said same-store sales at its Uniqlo casual clothing stores in Japan fell 10.7 percent in September from a year earlier. Warm weather hurt sales of autumn and winter goods, the retailer said in a statement. The stock fell 0.9 percent to 13,900 yen.
IT Holdings Corp. (3626) (3626 JT): The computer-services provider’s net loss totaled 2 billion yen ($26 million) in the six months ended Sept. 30 on charges for consolidating units and job cuts, according to a preliminary earnings statement. IT had forecast a 1 billion yen profit. First-half operating profit amounted to 4 billion yen, beating its estimate by a third. The stock advanced 1.9 percent to 736 yen.
Izumiya Co. (8266 JT): The supermarket operator said its net loss widened to 162 million yen from 90 million yen in the six months ended Aug. 31 from a year earlier, while first-half operating profit gained 68 percent to 2.04 billion yen. The stock fell 1.1 percent to 347 yen.
Kappa Create Co. (7421 JT): The operator of a chain of sushi restaurants said operating profit fell 16 percent to 2.89 billion yen in the six months ended Aug. 31. The company boosted its operating profit forecast to hit the top end of its previous estimate of 3.03 billion yen to 4.03 billion yen. The stock slipped 1.5 percent to 1,682 yen.
Kyushu Electric Power Co. (9508 JT): The utility said the automatic shutdown of a reactor at its Genkai nuclear power station was caused by a malfunction in a vacuum condenser. The unexpected shutdown adds to concern about power shortages. The stock lost 3.1 percent to 1,185 yen.
Ono Pharmaceutical Co. (4528 JO): The drugmaker and Merck Serono will jointly develop and market an oral multiple sclerosis drug, which is in Phase II of testing, Merck said in a statement. Ono increased 0.8 percent to 4,600 yen.
San-A Co. (2659 JT): The supermarket operator said profit rose 16 percent to 3.52 billion yen in the six months ended Aug. 31. The stock declined 0.6 percent to 3,175 yen.
Seven & I Holdings Co. (3382 JT): The owner of the 7-Eleven convenience-store franchise raised its full-year net income outlook 5 percent to 127 billion yen on signs consumers are spending again after the March 11 earthquake and tsunami. Net income in the six months ended Aug. 31 fell 15 percent to 52.8 billion yen, the retailer said. The stock slid 0.6 percent to 2,193 yen.
Sugi Holdings Co. (7649 JT): The drugstore chain boosted its full-year net income outlook 13 percent to 10.7 billion yen. The retailer also raised its planned second-half dividend to 18 yen per share from 7 yen. The increase includes a commemorative dividend of 5 yen to mark its 35th anniversary, Sugi said in a release. The stock was unchanged at 2,133 yen.
Tokyo Electric Power Co. (9501 JT): The utility’s Executive Vice President Takashi Fujimoto said it would be difficult to cut 7,400 jobs as suggested by a government panel, the Mainichi newspaper reported. The stock sank 3.8 percent to 230 yen.
TV Asahi Corp. (9409) (9409 JT): The TV broadcaster raised its full-year net income projection 20 percent to 6 billion yen, citing a better-than-expected recovery in sales of commercial spots. The stock lost 2.7 percent to 122,400 yen.
United Arrows Ltd. (7606) (7606 JT): The apparel chain said same- store sales increased 7.5 percent in September from a year earlier, buoyed by higher sales per customer. The stock added 0.1 percent to 1,438 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com