Aeon Credit, Bridgestone, Sogo Clinical, Toyota: Japanese Equity 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.
Aeon Credit Service Co. (8570 JT): The credit-card company said first-quarter net income more than tripled to 1.96 billion yen ($22 million) from 563 million yen a year earlier, boosted by the absence of the previous year’s bad-loan charges. The stock slid 0.5 percent to 845 yen.
Asunaro Aoki Construction Co. (1865 JT): The contractor said it will buy back as much as 2.1 percent of its shares. The stock dropped 2.5 percent to 384 yen.
Bridgestone Corp. (5108 JT): The world’s largest tiremaker raised its first-half net income forecast by 37 percent to 37 billion yen, citing increased revenue and higher prices overseas. The stock retreated 1.6 percent to 1,474 yen.
Elpida Memory Inc. (6665 JT): Six makers of computer memory chips including Elpida and NEC Electronics America Inc. settled with 33 states for $173 million over allegations of price-fixing, Tennessee Attorney General Bob Cooper said in an e-mailed statement. Elpida sank 2.3 percent to 1,530 yen.
Hitachi Ltd. (6501 JT): Hitachi is in talks on changing the ownership structure of its nuclear-power alliance with General Electric Co. (GE US), the Wall Street Journal reported, citing an interview with President Hiroaki Nakanishi. Hitachi, which has a 40 percent stake in the venture, wants to secure more orders outside the U.S. and Japan, the report said. Hitachi fell 1.1 percent to 347 yen.
Scroll Corp. (8005 JT): The mail-order company said it plans to raise as much as 2.09 billion yen by selling new shares and use the money to finance operations and repay debt. The stock rose 1.4 percent to 439 yen.
Sogo Clinical Pharmacology Co. (2399 JT): The provider of clinical testing services said it will repurchase as much as 2.78 percent of its outstanding shares. The stock gained 2.3 percent to 39,950 yen.
Takashimaya Co. (8233 JT): The retailer may report operating profit of about 3 billion yen for the March-to-May quarter, Nikkei English News reported. That would represent an increase of 40 percent from 2.1 billion yen a year earlier, Nikkei reported. The stock fell 0.1 percent to 768 yen.
Toyota Motor Corp. (7203 JT): The world’s biggest carmaker plans to resume production at its plant in Guangzhou, China early next week, spokeswoman Mieko Iwasaki said by phone from Tokyo. Also, Toyota may supply small cars to Fuji Heavy Industries Ltd. (7270 JT), the maker of Subaru vehicles, later this year, Nikkei English News reported. Toyota slipped 0.8 percent to 3,195 yen. Fuji Heavy slid 1.5 percent to 521 yen.