Bridgestone, Japan Tobacco, Resona, THK: Japan Stocks Preview
The following companies may have unusual price changes in Japanese trading on Nov. 14. 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.
Bridgestone Corp. (5108) (5108 JT): Japan’s top tiremaker by revenue will spend 35.5 billion yen ($458 million) to build a factory in Vietnam. The radial-tire plant will start operation in 2014, according to a statement on the company’s website. Bridgestone will also spend 4.7 billion yen to expand capacity at a plant in Japan’s Yamaguchi prefecture, according to a separate statement. The stock gained 2.9 percent to 1,771 yen.
Chiba Bank Ltd. (8331) (8331 JT): The regional bank raised its full-year net-income outlook to 45 billion yen from 41.5 billion yen. The stock edged up 0.2 percent to 507 yen.
Japan Bridge Corp. (5912) (5912 JT): The bridge builder will spend 5.5 billion yen to acquire Oriental Shiraishi Corp. (1786 JP), a civil-engineering company, according to a statement. Japan Bridge fell 2 percent to 200 yen.
Japan Tobacco Inc. (2914) (2914 JT): Asia’s largest cigarette maker by market value said domestic cigarette sales more than doubled in October from a year earlier to 52.6 billion yen, according to a statement. The stock advanced 1.5 percent to 373,000 yen.
Edion Corp. (2730) (2730 JT): The operator of electronics retailers raised its full-year net-income forecast 20 percent to 12 billion yen. The stock retreated 4.8 percent to 580 yen.
Matsumotokiyoshi Holdings Co. (3088 JT): The drugstore chain said net income more than doubled to 4.42 billion yen in the six months through September from 1.86 billion yen a year earlier, when a charge related to an accounting change weighed on results. The stock slipped 0.9 percent to 1,459 yen.
Misawa Homes Co. (1722 JT): The homebuilder raised its full-year net-income outlook 50 percent to 6 billion yen on a gain from a lawsuit. The stock rose 0.2 percent to 473 yen.
Nissan Shatai Co. (7222 JT): The auto assembler said it will end production of pickup trucks at one of its plants near Tokyo in February. The company lowered its full-year net-income forecast 23 percent to 5.3 billion yen, as it plans to record the charge from the terminated output as a depreciation loss. The stock slid 1.5 percent to 712 yen.
Resona Holdings Inc. (8308) (8308 JT): The lender boosted its full-year net-income forecast 13 percent to 170 billion yen. The stock declined 1.7 percent to 344 yen.
Shizuoka Bank Ltd. (8355) (8355 JT): The regional lender lifted its full-year net-income outlook 2.7 percent to 38 billion yen and raised its dividend for the year to 13.5 yen per share from 13 yen. The stock lost 1 percent to 809 yen.
Sony Corp. (6758) (6758 JT): Japan’s leading exporter of consumer electronics led a group that will pay $2.2 billion to Citigroup Inc. for the publishing unit of EMI, the 114-year-old music company that sells Beatles albums.
THK Co. (6481 JT): The maker of industrial machinery halved its full-year net-income projection to 9.5 billion yen, citing less-than-expected sales. The company also cut its full-year dividend from 22 yen to 18 yen. The stock rose 1.1 percent to 1,431 yen.
Topre Corp. (5975) (5975 JT): The maker of pressed products for car parts plans to invest about 4 billion yen to establish a subsidiary in Mexico. The company will begin production in January 2014, according to a statement. The stock climbed 4.5 percent to 784 yen.
Tsubakimoto Chain Co. (6371) (6371 JT): The maker of power transmission equipment said first-half net income fell 1.6 percent to 3.11 billion yen, beating the company’s forecast of 2.7 billion yen. The stock fell 0.5 percent to 372 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