Ajinomoto, Jolimark, Mazda Motor, Toshiba: Asian Stocks Preview
The following companies may have unusual price ch 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.
Ajinomoto Co. (2802) (2802 JT): The food seasonings maker said it plans to spend 5 billion yen ($62.8 million) to rebuild its frozen food factory. The stock lost 0.5 percent to 1,058 yen.
Century Sunshine Group Holdings Ltd. (509) (509 HK): The bio- organic fertilizers maker said its gross profit margin for the quarter ended March was unchanged at 23 percent from a year earlier, while sales volume of major products rose 58 percent. The stock declined 1.9 percent to 25.5 Hong Kong cents.
Jolimark Holdings Ltd. (2028) (2028 HK): The business and tax control equipment maker said net profit for the first half of 2012 may drop by 30 percent to 50 percent from a year ago on sluggish demand. The stock was unchanged at 66 Hong Kong cents.
JFE Holdings Inc. (5411) (5411 JT): The steelmaker’s senior unsecured debt rating was cut to Baa1 from A3, according to statement from Moody’s Japan K.K. The cut reflects JFE’s current weakening leverage and profitability, it said. The stock declined 2.4 percent to 1,298 yen.
Kaneka Corp. (4118) (4118 JT): The synthetic resins maker said it appealed the U.S. International Trade Commission’s final ruling on polyimide film patents. The ITC ruled earlier this month that South Korea’s SKC Kolon PI doesn’t violate Kaneka rights in four patents. Kaneka dropped 1.4 percent to 437 yen.
Kosei Securities Co. (8617) (8617 JT): The Osaka-based securities firm said it plans to buy back up to 1.44 percent of its outstanding shares. The stock declined 2.8 percent to 70 yen.
Mazda Motor Corp. (7261) (7261 JT): The automaker said it has agreed to jointly develop a sports car with Italy’s Fiat SpA and discuss further cooperation in Europe as part of a broader partnership. The stock increased 0.9 percent to 108 yen.
Mitsubishi UFJ Financial Group Inc. (8306) (8306 JT): Japan’s largest bank may buy back its own stock and raise its dividend payout, according to its mid-term plan presentation material posted on its website. The stock lost 0.9 percent to 339 yen.
STX Offshore & Shipbuilding Co. (067250) (067250 KS): The company said it failed to reach an agreement on talks with a shipowner in Canada for a container-ship order. The South Korean shipbuilder fell 1.9 percent to 10,150 won.
Toshiba Corp. (6502) (6502 JT), Sojitz Corp. (2768) (2768 JT): The companies and South Korea’s Daelim Industrial Co. won an $830 million engineering and supply order for a coal-fired plant in Vietnam from Petrovietnam Construction Joint Stock Corp., Toshiba said. Toshiba slid 2.9 percent to 303 yen, and Sojitz retreated 0.8 percent to 118 yen.
Tech Mahindra Ltd. (TECHM) : The Indian software maker’s fourth-quarter group profit more than tripled over last year to 3.03 billion rupees, exceeding the 1.77-billion rupee median estimate in a Bloomberg News survey of 29 analysts. Shares fell 1 percent to 611.6 rupees.
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