China Gas, Izumi, Jet Airways, MCJ, Prada: Asia Stocks Preview
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.
Gujarat Alkalies & Chemicals Ltd. (GALK) : The Indian chemicals maker posted fourth-quarter profit that dropped 21 percent from a year earlier to 442.1 million rupees. Shares rose 1.4 percent to 122.25 rupees.
Hitachi High-Technologies Corp. (8036) (8036 JT): The technology trading company said it plans to acquire all shares in SII Nanotechnology Inc. The stock dropped 0.7 percent to 1,788 yen.
Jet Airways (India) Ltd. (JETIN) : The nation’s biggest carrier posted a smaller-than-expected fourth-quarter loss as it flew more passengers after rival Kingfisher Airlines Ltd. cut flights and grounded planes. The loss was 2.98 billion rupees ($53 million) in the March quarter, narrower than the 3.84 billion-rupee loss forecast in a median estimate of five analysts compiled by Bloomberg. The stock fell 0.5 percent to 320.65 rupees.
Izumi Co. (8273) (8273 JT): The shopping-mall operator said it plans to buy back as much as 1 percent of its outstanding shares. The stock declined 0.7 percent to 1,506 yen.
Japan Tobacco Inc. (2914) (2914 JT): The company said it agreed to pay 475 million euros ($596 million) for Belgium-based Gryson NV to boost growth in Europe’s roll-your-own cigarette market. Japan Tobacco increased 1.1 percent to 425,500 yen.
MCJ Co. (6670) (6670 JT): The personal-computer maker raised its net-income forecast for the year by 5.6 percent to 1.4 billion yen ($17.6 million) for the year ending March 2013. The stock declined 1.7 percent to 119 yen.
Nippon Chuzo K.K. (5609) (5609 JT): The manufacturer of cast steel and iron products said it plans to raise 1.05 billion yen by selling 9.29 million shares to Hitachi Construction Machinery Co. (6305) (6305 JT). Nippon Chuzo was unchanged at 102 yen. Hitachi Construction increased 1.1 percent to 1,519 yen.
Nissan Motor Co. (7201) (7201 JT): The automaker’s sales to Brazil from its factory in Mexico are unlikely to grow for the next three years as long as a government quota is in effect, according to Jose Luis Valls, head of Nissan Mexicana SA. The stock fell 1.4 percent to 755 yen.
Prada SpA (1913) (1913 HK): The Italian fashion company plans to add 260 stores in the next three years to tap demand in emerging markets including Brazil, China and Persian Gulf countries, according to Chief Executive Officer Patrizio Bertelli. The stock gained 0.1 percent to HK$45.70.
Samsung Card Co. (029780) (029780 KS): The company plans to sell 91,124 Samsung Everland Inc. shares for 165.8 billion won ($140 million), according to a regulatory filing. The South Korean credit-card company rose 0.6 percent to 31,550 won.
Sony Corp. (6758) (6758 JT): The consumer electronics company said it will sell the 7.04 percent stake it holds in Sharp Display Products for 10 billion yen. Sony gained 0.8 percent to 1,105 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com