Bank of Saga, NEC Capital, Sogo Medical: Japan Stocks Preview
The following companies may have unusual price changes in Japanese trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.
The Bank of Saga (8395 JT): The regional bank’s net income for the six months ended September rose 34 percent to 2.8 billion yen ($36 million), beating its own estimate on a gradual recovery of the domestic economy, according to a preliminary earnings statement to the Tokyo Stock Exchange. Bank of Saga had forecast a 1.2 billion yen profit. The stock dropped 0.5 percent to 185 yen.
NEC Capital Solutions Ltd. (8793) (8793 JT): The leasing company said net income for the six months ended September totaled 4.4 billion yen, compared with a 1.7 billion yen estimate, according to a preliminary earnings statement. The stock rose 0.6 percent to 1,034 yen.
Sogo Medical Co. (4775 JT): The operator of pharmacies said net income rose 65 percent to 1.1 billion yen for the six months ended September, as sales increased. The stock rose 0.4 percent to 2,811 yen.
Sony Corp. (6758) (6758 JT): Japan’s No. 1 exporter of consumer electronics had its credit-rating outlook cut by Moody’s Investors Service because of weakening demand for liquid-crystal display televisions as well as a stronger yen.
The outlook was lowered to “negative” from “stable,” Moody’s said in a statement. Sony’s long-term debt rating was affirmed at A3. The stock slid 1.2 percent to 1,588 yen.
Taihei Kogyo Co. (1819 JT): The civil engineering company’s net income totaled about 2.75 billion yen for the six months ended September, beating its estimate of 1.7 billion yen on higher sales and improvements in project operations, according to a preliminary earnings statement. The stock gained 0.5 percent to 397 yen.
Tokyo Steel Manufacturing Co. (5423 JT): The steelmaker’s net loss for the six months ended September widened to 3.35 billion yen on a parent basis from a 2.49 billion yen loss a year earlier, as the yen’s appreciation forced discounting on product prices and costs rose. The company cut its forecast for the year ending March 31 to breakeven from a 2 billion yen profit, according a statement to the Tokyo Stock Exchange. The stock slid 2.5 percent to 666 yen.
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