Elpida, Shikoku Electric, Softbank, Takeda: Japan Stocks Preview
The following companies may have unusual price changes in 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.
Elpida Memory Inc. (6665) (6665 JT): The Tokyo Stock Exchange said it will resume daily limits on the move of the chipmaker’s shares, which are set to be delisted on March 28. Elpida filed for bankruptcy on Feb. 27 with debts of 448 billion yen ($5.6 billion), according to a filing with the finance ministry. The share plummeted 97 percent to 7 yen.
Japan Prime Realty Investment Corp. (8955) (8955 JT): The real estate investment trust plans to acquire a Tokyo property for a high-rise office building for 36 billion yen, Japan Prime said in a statement. The transaction will be complete on March 12, according to the statement. The share rose 0.1 percent to 215,200 yen.
Shikoku Electric Power Co. (9507) (9507 JT): The utility forecasts a net loss of 11 billion yen for the year ending March 31, the company said in a statement, citing prolonged idling of a nuclear power plant. Separately, the utility’s executives will take a pay cut because of a “difficult business environment,” the Japanese utility said in a statement on its website. The stock slid 0.1 percent to 2,238 yen.
Shindengen Electric Manufacturing Co. (6844 JT): The maker of electric devices such as diodes slashed its net income for the year ending March 31 by 67 percent to 1.1 billion yen, the company said in a filing, citing waning global demand for chips. The stock slid 2.8 percent to 383 yen.
Softbank Corp. (9984) (9984 JT): Japan’s third-largest mobile- phone operator was recommended by a government panel to receive a new spectrum license, which will allow Softbank to expand data capacity. The stock fell 0.6 percent to 2,421 yen.
Takeda Pharmaceutical Co. (4502) (4502 JT): The drugmaker plans to sell as much as 200 billion yen in bonds in or after March, the company said in a statement. The proceeds from the issuance will be used to repay short-term debt, which resulted from an acquisition of Swiss drugmaker Nycomed in September. The stock added 0.3 percent to 3,670 yen.
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