Bajaj Finserv, Credit Saison, Inpex Corp. : 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.
Bajaj Finserv Ltd. (BJFIN) : The Indian financial services company reported fourth-quarter profit of 8.81 billion rupees, compared with 8.73 billion rupees a year earlier, according to a filing. The company’s board approved raising 10 billion rupees. Shares slid 1.2 percent to 709.4 rupees.
Credit Saison Co. (8253) (8253 JT): The consumer lender forecast net income will triple to 29 billion yen ($361 million) in the year started April 1 from 9.45 billion yen a year earlier. The stock gained 1.7 percent to 1,596 yen.
Daio Paper Corp. (3880) (3880 JT): The paper producer posted a wider-than-expected loss of 5.4 billion yen in the year ended March 31 on devaluation of production facilities, according to a preliminary earnings statement. The company had earlier forecast a 2.5 billion yen loss. The stock slipped 2 percent to 399 yen.
Green Non-Life Insurance Co. (000470) (000470 KS): South Korea’s Financial Services Commission ordered Green Non-Life to boost capital by June because the company’s debt exceeded capital, according to an e-mailed statement from the regulator. The South Korean non-life insurer tumbled 15 percent to 1,100 won.
Idemitsu Kosan Co. (5019 JT): The refiner plans to shut a 140,000 barrel-a-day crude distillation unit at its Hokkaido plant for scheduled maintenance on June 2, according to a fire department official. The stock lost 1.9 percent to 7,250 yen.
Inpex Corp. (1605 JT): Japan’s top oil explorer by market value said it will sell a 0.735 percent stake in its Ichthys liquefied natural gas project to Chubu Electric Power Co. (9502 JT). Inpex slid 0.9 percent to 458,000 yen.
Kansai Electric Power Co. (9503 JT), Electric Power Development Co. (9513 JT): R&I cut credit ratings on seven utilities including Kansai Electric, Electric Power Development, also known as J-Power, and Chubu Electric, according to a statement. Kansai Electric was unchanged at 1,087 yen. J-Power fell 0.1 percent to 2,093 yen. Chubu Electric sank 4.1 percent to 1,188 yen.
Melco Holdings Inc. (6676) (6676 JT): The manufacturer of computer peripherals said it expects a 22 percent rise in profit to 5.4 billion yen in the year ending March 31 on growing sales. The stock slipped 1.6 percent to 1,718 yen.
Panasonic Corp. (6752) (6752 JT): The electronics maker’s A2 long- term senior unsecured bond and issuer ratings were put on review for possible downgrade by Moody’s Japan K.K. on growing uncertainty over the company’s ability to restore debt and cash flow. Panasonic lost 2.5 percent to 546 yen.
T-Gaia Corp. (3738) (3738 JT): The cellular services provider said it will spend as much as 3.68 billion yen to buy back up to 5.27 percent of its outstanding shares through May 31. The stock slumped 2.1 percent to 136,400 yen.
TV Tokyo Holdings Corp. (9413) (9413 JT): The broadcaster said profit slumped 49 percent to 1.39 billion yen in the year ended March. It expects a 57 percent jump in profit to 2.17 billion yen this fiscal year. The stock fell 0.3 percent to 972 yen.
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