Man Sang, Panasonic, Sony, Takashimaya: Asia Stocks PreviewKana Nishizawa
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.
Man Sang International Ltd. (938 HK): The pearls distributor said its profit for the year ended March 31 rose 2.3 percent to HK$56 million ($7.2 million) from a year earlier. The stock fell 2.1 percent to 46 Hong Kong cents.
Neo-Neon Holdings Ltd. (1868 HK): The lighting products maker said its net loss for the year ended March 31 was HK$1.43 billion, compared with a profit of HK$117 million a year earlier. The stock was unchanged at HK$1.22.
Sony Corp. (6758 JT), Panasonic Corp. (6752 JT): Japan’s biggest television makers agreed to jointly develop sets using OLED displays as they try to rebound from a combined 1.2 trillion yen ($15 billion) in losses last year. Sony dropped 2.4 percent to 1,135 yen. Panasonic gained 0.6 percent to 632 yen.
Sterlite Industries (India) Ltd., the nation’s largest copper producer, will explore possibility of extracting iron from copper slag, according to a filing dated June 22 to the Securities and Exchange Commission. The stock rose 0.6 percent to 99.2 rupees.
Takashimaya Co. (8233 JT): The department store operator’s first-quarter operating profit climbed 69 percent to 5.9 billion yen from a year earlier. The shares lost 1.4 percent to 575 yen.