J-Power, Marubeni, Panasonic, Toyota: Japan Stocks Preview
The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices (MXAP) are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Ajinomoto Co. (2802 JT): The seasonings maker is restarting three plants in Thailand this month after suspending operations at five factories due to flooding, Ajinomoto said in a release. The stock slipped 0.2 percent to 907 yen.
Electric Power Development Co. (9513 JT): Fire broke out at the company’s thermal power plant in Yokohama, broadcaster NHK reported. About 40 fire trucks were deployed and the fire is still burning, NHK said. Electric Power, an electricity wholesaler known as J-Power, fell 1.5 percent to 1,980 yen.
Fast Retailing Co. (9983 JT): Asia’s largest clothing chain said it will boost capital in a Singapore subsidiary by about S$32 million ($24 million) at the end of this month. The stock slipped 0.8 percent to 12,090 yen.
Futaba Industrial Co. (7241 JT): The company said it will set up a wholly owned subsidiary to start making autoparts in China next August. The stock fell 1.4 percent to 433 yen.
Marubeni Corp. (8002) (8002 JT) and Takashima & Co. (8007 JT): The trading houses began domestic sales of solar panels made by JA Solar Holdings Co., China’s biggest producer. The Japanese companies formed an alliance with Shanghai-based JA Solar amid expectations for growth in Japan’s solar panel market, they said in a statement. Marubeni lost 2.9 percent to 435 yen. Takashima surged 29 percent to 194 yen.
Mitsubishi Corp. (8058) (8058 JT): Posco (005490 KS), the world’s third-biggest steelmaker, may consider investing in Mitsubishi’s Australian iron ore operation. Posco will wait until Mitsubishi completes a deal to control the assets before making any decision, it said in an e-mailed statement. Mitsubishi slid 2.9 percent to 1,491 yen.
Nissen Holdings Co. (8248 JO): The mail-order business operator said sales on a parent basis fell 7.1 percent in the month ended Nov. 20 from a year earlier, its first drop since August. The stock fell 0.9 percent to 463 yen.
Olympus Corp. (7733) (7733 JT): Directors at the Japanese maker of optical equipment resigned a day before they were due to meet the president they fired. Chairman Tsuyoshi Kikukawa, Executive Vice President Hisashi Mori and auditor Hideo Yamada quit, and other managers are ready to also step down once a restructuring plan is in place, Olympus said in two statements. The stock soared 17 percent to 1,019 yen.
Panasonic Corp. (6752) (6752 JT): The electronics maker is in talks with a telecommunications company that offers service in Europe, the Nikkei newspaper reported, without citing anyone. The stock added 0.9 percent to 686 yen.
Suzuki Motor Corp. (7269) (7269 JT): Volkswagen AG (VOW GR) said there’s “no legal basis” to force the German carmaker to sell back its 19.9 percent stake in Suzuki Motor, according to an e- mailed statement. Europe’s biggest auto manufacturer “categorically rejects” allegations by Suzuki and is “confident” it will prevail in arbitration, spokesman Eric Felber said in the statement. Suzuki rose 0.9 percent to 1,533 yen.
Toyota Motor Corp. (7203) (7203 JT): the world’s biggest carmaker by market value will shift output of some hybrid vehicle parts, including batteries and motors, from Japan due to the strong yen, the Asahi newspaper reported. The stock dropped 0.5 percent to 2,376 yen.
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