All Nippon, MS&AD, Mitsubishi, Nidec: 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 latest close. The information in each item was released after markets shut unless stated otherwise.
ABC-Mart Inc. (2670) (2670 JT): The shoe retailer said net income fell 15 percent to 15.7 billion yen ($194 million) in the year ended Feb. 29, reflecting the previous year’s gain from selling stakes in affiliates. The company expects an 11 percent rise in profit to 17.3 billion yen this fiscal year. The stock slid 0.3 percent to 3,030 yen.
All Nippon Airways Co. (9202 JT): The carrier said it will resume flights to Myanmar for the first time in 12 years. The airline also plans to start service to Seattle as early as July, President Shinichiro Ito told reporters in Tokyo. ANA was unchanged at 231 yen.
Bic Camera Inc. (3048) (3048 JT): The electronics retailer said profit plunged 64 percent to 1.88 billion yen as sales dropped 16 percent in the six months ended Feb. 29. Shares fell 1.2 percent to 40,350 yen.
Daiseki Co. (9793) (9793 JT): The waste-disposal company said profit will rise 13 percent to 3.61 billion yen as sales grow in the year started March 1. Daiseki slipped 0.4 percent to 1,442 yen.
Daiyu Eight Co. (2662 JQ): The home improvement retailer said it will raise as much as 927 million yen in share sales. The stock gained 2.4 percent to 729 yen.
Hitachi Construction Machinery Co. (6305 JT): The maker of heavy equipment may have operating profit of about 80 billion yen in the year ending March 2013, buoyed by sales of dump trucks and excavators for coal mining in Australia and Indonesia, the Nikkei newspaper reported, without saying if the figures represent its own calculation or were obtained from analysts or the company. The stock fell 0.4 percent to 1,730 yen.
Hogy Medical Co. (3593) (3593 JT): The maker of surgical tools forecast profit will increase to 5.04 billion in the year started April 1 from 4.62 billion yen a year earlier. The stock slid 0.6 percent to 3,520 yen.
Kintetsu Department Store Co. (8244) (8244 JO): The retailer recorded a 13.3 billion yen loss in the year ended Feb. 29, citing costs related to job cuts and other restructuring. The company expects a return to profit, forecasting 3.1 billion yen in profit this fiscal year. The stock was unchanged at 186 yen.
Mitsubishi Corp. (8058) (8058 JT): The trading house is in talks with Royal Dutch Shell Plc (RDSA LN), China National Petroleum Corp. (CNPZ CH) and Korea Gas Corp. (036460 KS) for LNG production in western Canada, the Nikkei newspaper reported, without attribution. Mitsubishi lost 2.1 percent to 1,788 yen.
MS&AD Insurance Group Holdings (8725) Inc. (8725 JT): Mitsui Sumitomo Insurance Co. (8752 JP), a unit of MS&AD Insurance Group, will pay about 47 billion yen to take a 26 percent stake in Max New York Life Insurance Co. (2141Z US), the Nikkei newspaper reported, without attribution. MS&AD sank 2.7 percent to 1,576 yen.
Nidec Corp. (6594) (6594 JO): The maker of motors for hard-disk drives will buy Ansaldo Sistemi Industriali SpA (4472271Z IM) for as much as 40 billion yen, the Nikkei newspaper reported, without attribution. Nidec declined 0.6 percent to 7,150 yen.
San-A Co. (2659) (2659 JT): The supermarket operator said profit rose 11 percent to 6.28 billion yen in the year ended Feb. 29, buoyed by a gain from a change of its pension fund system. The retailer expects a 3.4 percent drop in profit to 6.07 billion yen this fiscal year. The stock fell 0.2 percent to 3,150 yen.
Star Micronics Co. (7718) (7718 JT): The maker of electronic card readers forecast profit will surge 32 percent to 3.2 billion yen in the year that started March 1, citing expected gains from insurance benefits related to Thai floods. The stock gained 1.2 percent to 766 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com