Chukyo Bank, Daiki Aluminium, Fumakilla: 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.
Chukyo Bank Ltd. (8530) (8530 JT): The lender reported net income of 1.85 billion yen ($22.8 million) for the year ended March compared with a forecast of a 1.5 billion yen gain, according to a preliminary earnings statement. The bank cited a lower-than- expected tax burden for the results. That stock fell 1 percent to 193 yen.
Daiki Aluminium Industry Co. (5702) (5702 JT): The company reported net income of 1.02 billion yen, beating its forecast of 790 million, for the year ended March, according to a preliminary earnings statement. Improvement in a price gap between materials and products drove up profit, the company said. The stock gained 2.4 percent to 260 yen.
Fumakilla Ltd. (4998) (4998 JT): The maker of pesticides reported a loss of 838 million yen for the year ended March 31, according to a preliminary earnings statement, citing sliding sales at subsidiaries. That company earlier forecast a loss of 630 million yen. The stock slid 0.9 percent to 316 yen.
Kameda Seika Co. Ltd. (2220) (2220 JT): The rice-cookie maker raised its full-year dividend forecast to 13 yen from 11 yen. The stock gained 1.9 percent to 1,799 yen.
Nidec Corp. (6594) (6594 JO): The leading manufacturer of hard- disk drive motors said net income fell 22 percent on flat sales in the year ended March 31. The company announced separately that it would seek to buy out Nidec Sankyo Corp., of which it holds a 75 percent stake. The parent’s shares climbed 0.5 percent to 7,510 yen.
Nikon Corp. (7731) (7731 JT): The camera maker recalled batteries made by Sony Corp. (6758 JT) used in digital cameras on concern they might overheat, a Nikon spokeswoman said. The companies haven’t decided how to split recall costs, Sony said. Nikon added 1.2 percent to 2,336 yen, while Sony fell 1.7 percent to 1,330 yen.
NTT DoCoMo Inc. (9437) (9437 JT): Japan’s largest mobile-phone carrier by market value may report a 3 percent gain in operating profit to 900 billion yen for the year ending March 2013 as smartphone sales push up data use and cellphone contracts increase, the Nikkei newspaper reported. The stock fell 0.5 percent to 135,900 yen.
Seiko Holdings Corp. (8050) (8050 JT): The watch maker said 522 workers at one of its units took a buyout offer, for which it will book a 3.1 billion yen charge. The stock added 2.5 percent to 208 yen.
Shikoku Electric Power Co. (9507 JT): The utility reported a loss of 9.3 billion yen, lower than its forecast of 11 billion for the year ended March, according to a preliminary earnings statement that cited cost-cutting measures. The stock rose 1.9 percent to 2,152 yen.
Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): Japan’s second-biggest lender by market value will buy a 24 percent stake in China Post & Capital Fund Management Co. The bank will pay about 10 billion yen in its first investment in a mainland China company. The shares dropped 2.3 percent to 2,573 yen.
Yahoo Japan Corp. (4689) (4689 JT): Toshiki Ohya, Yahoo Japan’s chief financial officer, said talks to sell a 35 percent stake to U.S.-based Yahoo Inc. have stalled. Yahoo Japan’s shares climbed 1.7 percent to 440 yen.
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