Canon, Honda, Japan Retail Fund, Lawson: Japan Stocks 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 last close. The information in each item was released after markets shut unless stated otherwise.
Canon Inc. (7751) (7751 JT): The world’s biggest camera maker is preparing to shift production of two plants in Ayutthaya, Thailand, after facilities were closed due to flooding, Richard Berger, a spokesman for the company, said. Canon may shift inkjet printer production to another plant in Thailand or one in Vietnam, he said. The stock rose 0.1 percent to 3,535 yen.
Honda Motor Co. (7267 JT): Japan’s second largest carmaker by market value reduced car output at its Malaysia plant following disruptions to parts supply from Thailand due to flooding there, the Edge reported online, citing Chief Executive Officer Yoichiro Ueno. The stock rose 0.3 percent to 2,302 yen.
Isuzu Motors Ltd. (7202) (7202 JT): The car maker’s operating profit for the three months through September probably rose 5 percent to 24 billion yen from a year earlier amid a faster- than-expected recovery from Japan’s March earthquake, the Nikkei newspaper reported, without citing anyone. The stock rose 2.9 percent to 322 yen.
Japan Retail Fund Investment Corp. (8953) (8953 JT): The company said its net income for the six months ended Aug. 31 was 5.5 billion yen ($71.5 million), 18 percent lower than the previous six months. The stock gained 1 percent to 127,400 yen.
Lawson Inc. (2651) (2651 JT): The convenience-store operator said net income for the six months ended Aug. 31 declined 27 percent from a year earlier to 8.96 billion yen. Sales rebounded after mid-June following a slump due to the March earthquake, the company said.
Separately, Lawson plans to open 10,000 China stores, expanding from a current level of a few hundred, the Wall Street Journal reported, citing company president Takeshi Niinami. The stock dropped 1.6 percent to 4,345 yen.
Renown Inc. (3606) (3606 JT): The apparel maker reported a 2.8 billion net loss for the six-month period ended Aug. 31, a 61 percent reduction from a year earlier, citing a drop in consumer spending after the March earthquake. The stock was unchanged at 167 yen.
Sumitomo Mitsui Trust Holdings Inc. (8309 JT): The bank raised its net income forecast by 39 percent to 125 billion yen for the six months ended Sept. 30. The stock rose 3.1 percent to 263 yen.
Toyo Electric Manufacturing Corp. (6505 JT): The maker of electrical systems used in transport and industrial equipment reported a net loss of 225 million yen for the quarter ended Aug. 31, a 31 percent decline from a year earlier, citing Japanese efforts to cut back on power usage and a slowdown in overseas economies. The stock gained 0.8 percent to 390 yen.
Toyo Tanso Co. (5310 JT): The manufacturer of carbon and graphite products boosted its net income forecast for the six- month period ending November to 2.5 billion yen from 1.6 billion yen, citing a stronger yen and a global economic slowdown due to Europe’s debt crisis. The company reported its net income for the quarter ended Aug. 31 rose by 60 percent to 1.7 billion yen from a year earlier. The stock rose 4.1 percent to 3,305 yen.
Ube Industries Ltd. (4208 JT): The producer of chemical products said profit rose 53 percent in the six months ended September, citing improved sales of chemical products and resins and a smaller impact than expected from Japan’s March earthquake. Net income totaled 11.5 billion yen ($149 million), compared with a forecast of 7.5 billion yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. The stock rose 1.2 percent to 258 yen.
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