ABC-Mart, Bic Camera, Coal India, San-A Co.: 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.
ABC-Mart Inc. (2670) (2670 JT): The shoe retailer said net income fell 15 percent to 15.7 billion yen ($194 million) in the year ended Feb. 29, reflecting the previous year’s gain from selling stakes in affiliates. The company expects an 11 percent rise in profit to 17.3 billion yen this fiscal year. The stock slid 0.3 percent to 3,030 yen.
All Nippon Airways Co. (9202 JT): The carrier said it will resume flights to Myanmar for the first time in 12 years. The airline also plans to start service to Seattle as early as July, President Shinichiro Ito told reporters in Tokyo. ANA was unchanged at 231 yen.
Bic Camera Inc. (3048) (3048 JT): The electronics retailer said profit plunged 64 percent to 1.88 billion yen as sales dropped 16 percent in the six months ended Feb. 29. Shares fell 1.2 percent to 40,350 yen.
Coal India Ltd. (COAL) was rated reduce in new coverage at Asian Markets by equity analyst Ashish Kejriwal with a price estimate of 316 rupees per share. The stock slid 0.7 percent to 331.05 rupees.
China Overseas Land & Investment Ltd. (688) (688 HK): The state- owned builder signed a HK$7.6 billion ($979 million) so-called club loan with 12 banks, according to an e-mailed media release. The stock fell 1.3 percent to HK$15.70.
Cnooc Ltd. (883) (883 HK RELS): China’s biggest offshore energy producer and Italy’s oil company Eni SpA (ENI IM) agreed to expand exploration in the South China Sea, according to a statement by Cnooc’s parent. Cnooc slid 2.1 percent to HK$15.28.
China Coal Energy Co. (1898) (1898 HK): The mainland coal producer said production was halted at Kongzhuang mine owned by unit Shanghai Datun Energy Resources Co. (600508 CH) due to a flooding accident on Apr. 10. Of the seven workers that were trapped, three have been rescued and four have died, it said. The company said it made an application to will resume trading on April 12 in Hong Kong after being suspended on April 11.
Daiseki Co. (9793) (9793 JT): The waste-disposal company said profit will rise 13 percent to 3.61 billion yen as sales grow in the year started March 1. Daiseki slipped 0.4 percent to 1,442 yen.
Daiyu Eight Co. (2662 JQ): The home improvement retailer said it will raise as much as 927 million yen in share sales. The stock gained 2.4 percent to 729 yen.
Hogy Medical Co. (3593) (3593 JT): The maker of surgical tools forecast profit will increase to 5.04 billion in the year started April 1 from 4.62 billion yen a year earlier. The stock slid 0.6 percent to 3,520 yen.
Kintetsu Department Store Co. (8244) (8244 JO): The retailer recorded a 13.3 billion yen loss in the year ended Feb. 29, citing costs related to job cuts and other restructuring. The company expects a return to profit, forecasting 3.1 billion yen in net profit this fiscal year. The stock was flat at 186 yen.
San-A Co. (2659) (2659 JT): The supermarket operator said profit rose 11 percent to 6.28 billion yen in the year ended Feb. 29, buoyed by a gain from a change of its pension fund system. The retailer expects a 3.4 percent drop in profit to 6.07 billion yen this fiscal year. The stock fell 0.2 percent to 3,150 yen.
Star Micronics Co. (7718) (7718 JT): The maker of electronic card readers forecast profit will surge 32 percent to 3.2 billion yen in the year that started March 1, citing expected gains from insurance benefits related to Thai floods. The stock gained 1.2 percent to 766 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com