China Life, Edion, Korea Gas, Uny, Woori Finance: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading tomorrow. 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): The world’s biggest tiremaker by market value expects net income to surge 63 percent to 168 billion yen ($2.1 billion) this year on growing sales. Profit was 103 billion yen in 2011, missing its forecast by 11 percent. Bridgestone also said it will spend about 4.7 billion yen to boost output capacity. The stock fell 0.7 percent to 1,763 yen.
Chaoyue Group Ltd. (147) (147 HK GP D 1-Year Price Graph): The drinking water machines provider said it’s unaware of share- price movements today. The company is in preliminary acquisition talks, it also said. The stock jumped 80 percent to 23.8 Hong Kong cents.
China Life Insurance Co. (2628) (2628 HK): The nation’s biggest insurer by market value said its premium income for January was about 49.1 billion yuan ($7.79 billion). The stock fell 1.3 percent to HK$22.80.
Edion Corp. (2730) (2730 JT): The electronics retailer cut its full-year net-income forecast 44 percent to 5 billion yen as it takes a 4 billion yen charge for an antitrust violation. The stock added 0.9 percent to 576 yen.
Korea Gas Corp. (036460) (036460 KS): The company is in talks with the government to raise tariffs in March. The world’s largest buyer of liquefied natural gas added 3.1 percent to 41,700 won.
Medical Ikkou Co. (3353 JQ), Medipal Holdings Corp. (7459) (7459 JT): The drug wholesalers said they will end their capital alliance while continuing to collaborate on operations. Medical Ikkou was unchanged at 200,000 yen. Medipal slid 0.4 percent to 962 yen.
Modec Inc. (6269) (6269 JT): The maker of machinery to extract oil and gas forecast net income will rise 14 percent to 3.5 billion yen this year. The stock fell 0.5 percent to 1,436 yen.
Saxa Holdings Inc. (6675) (6675 JT): The information and telecommunication systems company said it will raise its stake in software developer Nextgen Inc. (3842) (3842 JP) to 28.4 percent from 12.9 percent. Saxa lost 1.3 percent to 235 yen, while Nextgen rose 0.1 percent to 80,100 yen.
Trend Micro Inc. (4704) (4704 JT): The maker of security software said net income rose 36 percent to 17.3 billion yen in the year ended Dec. 31. The stock slipped 1.9 percent to 2,499 yen.
Uny Co. (8270 JT), Circle K Sunkus Co. (3337 JT): Uny, a department-store operator, will offer 1,780 yen per share to buy out Circle K, according to statements from the retailers. Uny already owns a 47.28 percent stake in the convenient-store chain. Uny fell 0.6 percent to 701 yen, while Circle K rose 0.1 percent to 1,330 yen.
Woori Finance Holdings Co. (053000) (053000 KS): South Korea’s biggest bank holding company by assets said fourth-quarter profit jumped almost sevenfold as provisions against bad loans declined and lending margins widened. The shares lost 2.9 percent to 11,900 won.
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To contact the editor responsible for this story: Nick Gentle at email@example.com