Elpida, KDDI, NEC, Nintendo, Sekisui House: Japan 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.
Canon Marketing Japan Inc. (8060) (8060 JT): The distributor of all Canon products in Japan forecast full-year net-income will rise 3.5 percent to 7 billion yen ($90 million) from a year earlier. The company will also acquire the rest of Showa Information Systems Co. (6922 JQ) in a share swap, according to a statement to the Tokyo Stock Exchange. The stock fell 2 percent to 955 yen.
Elpida Memory Inc. (6665) (6665 JT): The chipmaker swung to an operating loss of 90 billion yen for the nine months through December from a 41 billion yen profit a year earlier due to slowing demand for semiconductors, the Nikkei newspaper reported without citing anyone. The stock fell 2.7 percent to 364 yen.
KDDI Corp. (9433) (9433 JT): The mobile carrier cut its full-year net-income forecast 6 percent to 235 billion yen, citing a loss on deferred tax assets. Shares gained 1.1 percent to 487,000 yen.
Hitachi Construction Machinery Co. (6305 JT): The company raised its full-year net-income forecast 8.7 percent to 25 billion yen, according to a statement. The machinery maker lost 2.3 percent to 1,469 yen.
NEC Corp. (6701) (6701 JT): The computer maker forecast a full- year loss of 100 billion yen after earlier projecting a 15 billion yen profit, citing falling sales and restructuring costs for the change in outlook. The company also said it will cut 10,000 jobs. NEC was unchanged at 168 yen.
Nintendo Co. Ltd. (7974 JO): The world’s biggest maker of video-game consoles more than tripled its earlier forecast for a loss to 65 billion yen citing foreign-exchange losses. It also said it would sell only 14 million 3DS handheld players, down from an earlier forecast of 16 million. The stock fell 0.9 percent to 10,700 yen.
Nippon Express Co. (9062) (9062 JT): The freight company will post operating profit of 25 billion yen for the nine months ended Dec. 31, edging up from 24.9 billion yen a year earlier as air freight rose on flooding in Thailand, the Nikkei reported. The stock rose 0.3 percent to 308 yen.
Sekisui House Ltd. (1928) (1928 JT): The builder’s full-year 2011 operating profit may rise 24 percent to 70 billion yen on demand for energy-saving houses, the Nikkei newspaper reported without citing a source. Shares dropped 1 percent to 732 yen.
To contact the reporter on this story: Masaaki Iwamoto in Tokyo at email@example.com
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org