Ashok Leyland, China Life, Dentsu, Modec: Asia Stock PreviewNorie Kuboyama
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.
Ashok Leyland Ltd. (AL IN): India’s second-biggest maker of trucks reported fourth-quarter profit of 2.69 billion rupees ($49 million), down from 2.98 billion rupees a year earlier, according to a filing. The profit was in line with the median estimate of 2.68 billion rupees in a Bloomberg News survey. The shares dropped 2.6 percent to 26.2 rupees, the lowest level in more than three months.
Aozora Bank Ltd. (8304 JT): The lender said net income rose 41 percent to 46.3 billion yen ($578 million) in the year ended March 31 as revenue grew. The bank expects a 14 percent drop in profit to 40 billion yen this fiscal year. The stock added 0.5 percent to 195 yen.
China Life Insurance Co. (2628 HK): The nation’s biggest insurer by market value said premium income for the four months ended April was about 133 billion yuan ($21 billion). The stock fell 2 percent to HK$19.38.
ComfortDelgro Corp. (CD SP): Singapore’s biggest operator of taxis and buses said first-quarter net income rose 6.8 percent from a year earlier to S$53.5 million ($43 million). The stock slipped 1 percent to S$1.46.
Dai Nippon Printing Co. (7912 JT): The printing company forecast a 17.5 billion yen profit in the year started April 1 after losing 16.4 billion yen a year earlier. The stock slid 0.6 percent to 633 yen.
Dentsu Inc. (4324 JT): Japan’s top advertising company said it expects net income to fall 1.3 percent to 29.2 billion yen while operating profit rises 15 percent to 60 billion yen in the year started April 1. The stock climbed 1.4 percent to 2,398 yen.
Heiwa Corp. (6412 JT): The pachinko machine maker forecast 14 percent growth in profit to 23.3 billion yen in the year ending March 31 on surging sales. The stock declined 2.9 percent to 1,554 yen.
Hokuetsu Kishu Paper Co. (3865 JT): The paper and pulp company said profit will fall 41 percent to 7.5 billion yen in the year ending March 31. The stock sank 3.3 percent to 464 yen.
Li & Fung Ltd. (494 HK): The toys and games supplier that gets about a fifth of its revenue from Europe said the debt crisis in the region may affect exports, Radio Television Hong Kong reported, citing deputy chairman William Fung. William Fung will replace Victor Fung as chairman, the company said today. The stock declined 4.6 percent to HK$14.88.
Meiji Holdings Co. (2269 JT): The dairy expects profit to jump 73 percent to 11.8 billion yen in the year started April 1. The stock slid 0.6 percent to 3,385 yen.
Modec Inc. (6269 JT): The manufacturer of gas production equipment said profit rose to 846 million yen in the quarter ended March 31 from 789 million yen a year earlier, buoyed by a 44 percent jump in sales. The stock slipped 0.8 percent to 1,592 yen.
Nippon Meat Packers Inc. (2282 JT): The ham and sausage maker forecast a 25 percent fall in profit to 3.6 billion yen in the six months started April 1. The company also said it will buy back as much as 0.56 percent of its shares. The stock lost 1.6 percent to 984 yen.
NTT Docomo Inc. (9437 JT): Japan’s biggest cellular-phone carrier said it will offer as much as 224 million euros ($288 million) to buy out Italy’s Buongiorno SpA (BNG IM), a mobile-content provider. NTT dropped 0.6 percent to 129,200 yen.
Rakuten Inc. (4755 JQ), Stylife Corp. (3037 JQ): Shopping-site operator Rakuten said it will buy a 32.5 percent stake for 497 million yen in Stylife, which sells apparel online. Rakuten gained 1.5 percent to 83,800 yen. Stylife declined 1.6 percent to 44,300 yen.
Takara Leben Co. (8897 JT): The condominium developer said it will spend as much as 1 billion yen to buy back up to 5.3 percent of its outstanding shares. The stock retreated 3.2 percent to 606 yen.
Tokyo Seimitsu Co. (7729 JT): The maker of chip-manufacturing equipment said profit rose 41 percent to 8.6 billion yen on growing sales in the year ended March 31. The company expects net income will fall 35 percent to 5.6 billion yen this fiscal year. The stock lost 0.9 percent to 1,583 yen.
Taiyo Yuden Co. (6976 JT): The electronic component maker said its loss widened almost fourfold to 21.6 billion yen as sales fell in the year ended March 31. The company forecast a return to profit of 5.5 billion yen this fiscal year. The stock tumbled 4.6 percent to 722 yen.