Mizuho, Eisai, Sumitomo Mitsui, KDDI: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading on Nov. 15. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.
Akebono Brake Industry Co. (7238 JT): The maker of brake systems said it may buy Robert Bosch GmbH’s (RBOS GR) foundation brake businesses outside North America. Akebono Brake fell 0.8 percent to 492 yen.
Bank of Yokohama Ltd. (8332 JT): The regional bank raised its full-year net income forecast 14 percent to 44 billion yen ($533 million) as first-half profit beat its outlook by 24 percent. The stock slid 0.2 percent to 417 yen.
Bic Camera Inc. (3048 JT): The electronics retailer will open a duty-free shop for foreign tourists in the Tokyo district of Akihabara this month, targeting visitors from China, the Nikkei newspaper reported without saying where it got the information. The stock gained 1.7 percent to 33,000 yen.
Chiba Bank Ltd. (8331 JT): The regional bank’s first-half net income jumped 40 percent to 23.3 billion yen, 14 percent more than forecast. The stock fell 0.4 percent to 507 yen.
Dai-ichi Life Insurance Co. (8750 JT): Japan’s second- biggest life insurer said net income totaled 29.4 billion yen for the six months ended Sept. 30, compared with 50.5 billion yen a year earlier when it was still a mutually owned firm. The stock advanced 1 percent to 115,000 yen.
Eisai Co. (4523 JT): The drugmaker plans to sell generic drugs in emerging markets such as China and India through its own sales networks starting in 2012, Nikkei English News reported. The stock rose 0.3 percent to 2,856 yen.
Fukuoka Financial Group Inc. (8354 JT): The lender reported a 30 percent drop in first-half net income to 17 billion yen as revenue declined. The stock slid 2.1 percent to 330 yen.
Gunma Bank Ltd. (8334 JT): The regional bank booked a 14 percent increase to 9.85 billion yen net income for the April- September period. The bank also said it plans to spend as much as 4.5 billion yen to repurchase as much as 2.02 percent of its outstanding shares. The stock rose 0.2 percent to 411 yen.
KDDI Corp. (9433 JT): The second-largest mobile phone operator in Japan will on Nov. 19 start sales of a tablet personal computer developed by Onkyo Corp., competing with Softbank Corp. and NTT DoCoMo Inc. in the domestic market for the device, the Nikkei newspaper said. The stock gained 1.3 percent to 471,500 yen.
Marubeni Corp. (8002 JT): The trading house will spend $3.4 billion on Philippine power plant and rail transit projects, the Southeast Asian government said on its website. The stock dropped 2 percent to 533 yen.
Marui Group Co. (8252 JT): The retailer and consumer lender increased its full-year net income forecast 9.1 percent to 6 billion yen. First-half profit jumped to 1.96 billion yen from 548 million yen a year earlier. The stock gained 0.9 percent to 695 yen.
Mizuho Financial Group Inc. (8411 JT): Japan’s third- largest bank raised its full-year net income forecast to 500 billion yen for the year ending March 31 from the previous outlook of 430 billion yen.
The bank said it will buy 3.07 million shares of BlackRock Inc. (BLK US) for $500 million. Mizuho retreated 2.3 percent to 127 yen.
Mizuho Trust & Banking Co. (8404 JT): The trust bank projected full-year profit of 26 billion yen, up 18 percent from its earlier forecast. Profit in the six months to Sept. 30 jumped to 12.1 billion yen from 5.04 billion yen a year earlier. The stock climbed 1.4 percent to 74 yen.
Resona Holdings Inc. (8308 JT): Japan’s fourth-largest bank said net income fell 4.5 percent to 81.8 billion yen in the six months ended Sept. 30. Revenue for the period fell 0.2 percent. The stock rose 0.8 percent to 478 yen.
Shizuoka Bank Ltd. (8355 JT): The regional bank increased its full-year profit outlook 9.1 percent to 33.5 billion yen. The company also said earnings in the six months ended September declined 5.1 percent to 16.6 billion yen. The stock was unchanged at 726 yen.
Skymark Airlines Inc. (9204 JT): Japan’s biggest low-cost carrier said it plans to order nine more Airbus SAS A380 aircraft in addition to those it’s already announced it plans to buy. The stock fell 1 percent to 760 yen.
Sparx Group Co. (8739 JQ): Asia’s second-biggest hedge-fund manager said it made a first-half loss of 1.2 billion yen, compared with profit of 119 million yen a year earlier. The stock dropped 1.2 percent to 7,140 yen.
Sumitomo Mitsui Financial Group Inc. (8316 JT): Japan’s second-largest lender raised its full-year net income forecast 59 percent to 540 billion yen. The stock dropped 1.8 percent to 2,509 yen.
Sumitomo Trust and Banking Co. (8403 JT): The Japanese trust bank and its subsidiary Nikko Asset Management Co. are considering buying DBS Asset Management of Singapore and Tyndall Investment Management of Australia for a total of 20 billion yen, the Nikkei newspaper reported without citing anybody. The stock fell 2.4 percent to 458 yen.
THK Co. (6481 JT): The maker of industrial machinery raised its full-year net income forecast 10 percent to 11.7 billion yen. The company booked a profit of 5.71 billion yen for the first half, compared with a loss of 6.71 billion yen a year earlier. The stock dropped 2.4 percent to 1,710 yen.
TonenGeneral Sekiyu K.K. (5012 JT): The unit of Exxon Mobil Corp. (XOM US) raised its 2010 profit forecast by 53 percent to 46 billion yen. The company returned to profit, making 45.8 billion yen for the nine months to Sept. 30, compared with a loss of 7.43 billion yen a year earlier. The stock gained 0.5 percent to 751 yen.
Toyota Motor Corp. (7203 JT): The world’s largest carmaker and its U.S. partner Tesla Motors Inc. (TSLA US) may manufacture electric versions of Toyota’s RAV4 model at one of the Japanese automaker’s plants, Tesla Chief Executive Officer Elon Musk said in Tokyo. A test fleet of the vehicles may be built at Tesla’s plant, he said. Toyota fell 0.6 percent to 3,095 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com.