Gree, Park 24, Toyota Tsusho, Tsugami: Japanese Stocks 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.
Gree Inc. (3632) (3632 JT): The social network service provider will acquire a 6.8 percent stake in Mobicle Co., a South Korean online game provider, through a third-party allocation, according to a statement to the Tokyo Stock Exchange. The stock rose 0.4 percent to 2,271 yen.
JX Holdings Inc. (5020) (5020 JT): The oil company may post pretax profit of about 300 billion yen in the nine-month period through December, 29 percent more than a year earlier, due to rising petroleum prices, the Nikkei newspaper reported without saying where it got the information. The stock lost 2.2 percent to 450 yen.
Nippon Yakin Kogyo Co. (5480) (5480 JT): The stainless steel producer cut its full-year net-income forecast 81 percent to 500 million yen, citing falling prices and the yen’s appreciation. The stock dipped 0.8 percent to 122 yen.
Park 24 Co. (4666 JT): The parking garage operator said December sales increased 9 percent from a year earlier. The stock dropped 0.4 percent to 992 yen.
Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): Japan’s second biggest bank by market value will acquire Royal Bank of Scotland Group’s air craft-leasing division for about $7.3 billion, RBS said in e-mailed statement today. The stock fell 2.2 percent to 2,194 yen.
Tokyo Electric Power Co. (9501 JT): The utility plans to raise electricity charges between 15 percent and 20 percent for corporate customers starting April to make up for a rise in fuel costs caused by the shutdown of its nuclear plants, the Nikkei newspaper reported today. The stock rose 1.9 percent to 205 yen.
Toshiba Machine Co. (6104) (6104): The maker may post operating profit of 5 billion yen for the nine-month period ended Dec. 31, 92 percent better than a year earlier on rising sales in Southeast Asia and North America, the Nikkei reported today. The stock dropped 3.1 percent to 372 yen.
Toyota Tsusho Corp. (8015) (8015 JT): The trading company partly owned by Toyota Motor Corp. will start a tender offer for Elematec Corp. (2715) (2715 JT) to buy more than half its shares, according to a statement to the stock exchange. Toyota Tsusho lost 3.7 percent to 1,331 yen. Elematec fell 0.2 percent to 1,281 yen.
Tsugami Corp. (6101) (6101 JT): The maker of automated machine tools plans to raise as much as 3.5 billion yen by selling new shares according to a filing with Japan’s Finance Ministry. The company will use the funds to expand its factories and make a loan to a Chinese subsidiary, it said. The stock fell 4 percent to 511 yen.
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