NEC, Nippon Yusen, Seven & I, Toyota: Japan Equity Preview

February 25, 2010, 7:07 PM EST

(Adds items on Aplus, Canon, Daiichi Sankyo, Idemitsu, Nippon Yusen, Sanyo, seven & I and Toyota)

Feb. 26 (Bloomberg) — The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are as of the previous close. The information in each item was released after markets closed, unless stated otherwise.

Aplus Co. (8589 JO): The consumer finance company plans to buy back as much as 30 billion yen of preferred shares and 3 billion yen of ordinary shares, Nikkei English News said. The stock was unchanged at 71 yen.

Canon inc. (7751 JT): The office equipment maker company said that after it acquires Oce NV of the Netherlands it will limit the number of votes it exercises from preferred shares to respect concerns from Oce’s minority shareholders. Canon was unchanged at 3,720 yen.

Daiichi Sankyo Co. (4568 JT): The drugmaker may develop generic drugs with Indian unit Ranbaxy Laboratories Ltd. (RBXY IN) and sell them in Japan later this year, Nikkei English News reported. Daiichi Sankyo slid 0.5 percent to 1,788 yen.

Dydo Drinco inc. (2590 JT): The drink maker said drink sales in the month ended Feb. 20 dropped 4.6 percent from the same period a year earlier on a parent basis, dragged down by coffee beverages. The stock rose 1.4 percent to 2,979 yen.

Hisamitsu Pharmaceutical Co. (4530 JT), Kyowa Hakko Kirin Co. (4151 JT): Kyowa Hakko Kirin filed a drug application for its cancer-pain drug fentanyl sublingual in Japan. Hisamitsu Pharmaceutical will help distribute the medication if approved. Hisamitsu rose 1.7 percent to 3,260 yen. Kyowa Hakko slid 0.4 percent to 915 yen.

Idemitsu Kosan Co. (5019 JT): The company said oil deposits were discovered in North Sea blocks located off Norway in which it holds 9.6 percent stakes. The stock fell 0.3 percent to 6,430 yen.

ITC Networks Corp. (9422 JT): The mobile equipment wholesaler said it will conduct a 400-for-1 stock split and raise its minimum trading unit to 100 share from 1 share, meaning an effective stock split of 4-for-1. The stock added 0.1 percent to 194,800 yen.

J. front Retailing Co. (3086 JT): The retailer expects to take a charge of about 500 million yen related to closing a Matsuzakaya store in the Nagoya train station in August. The stock rose 1 percent to 485 yen.

NEC Corp. (6701 JT): Japan’s largest maker of personal computers said it aims to boost net income 10-fold to 100 billion yen ($1.1 billion) over three years, helped by sales of information-technology services and network systems. The stock dropped 0.8 percent to 241 yen.

Nippon Yusen K.K. (9101 JT): Japan’s largest shipping line will cut its container fleet by half to 60 ships as it expands forwarding to boost profit, company President Yasumi Kudo told reporters in Tokyo. The company’s talks with Japan Airlines Corp. over merging their air-freight businesses stalled after the carrier declared bankruptcy, Kudo said. The stock lost 1.5 percent to 323 yen.

Nisshinbo Industries inc. (3105 JT): The maker of textiles and chemical products said it will cut about 150 jobs through an early retirement program. The stock slipped 0.6 percent to 868 yen.

NuFlare Technology inc. (6256 JQ): The maker of electron-beam machinery will raise about 1.9 billion yen in a private sale of new shares to Dai Nippon Printing Co. (7912 JT) and Toppan Printing Co. (7911 JT). NuFlare tumbled 5.4 percent to 101,100 yen. Dai Nippon lost 0.8 percent to 1,188 yen. Toppan Printing slid 0.3 percent to 770 yen.

Park24 Co. (4666 JT): The parking-lot operator said first-quarter net income gained 33 percent to 1.7 billion yen on a 27 percent advance in sales. The stock gained 2.3 percent to 934 yen.

Sanyo Electric Co. (6764 JT), Sanyo Electric Logistics Co. (9379 JQ): Sanyo Electric Co. is looking to sell its 58- percent stake in Sanyo Electric Logistics at a price of more than 10 billion yen, Nikkei English News reported. Possible buyers of the stake include Nippon Express Co. (9062 JT), according to the report. Sanyo fell 2.6 percent to 150 yen. Sanyo Electric Logistics lost 2.8 percent to 950 yen. Nippon Express sank 2.1 percent to 365 yen.

seven & I Holdings Co. (3382 JT): The retailer may have operating profit of 225 billion yen for the year ending Feb. 28, 20 percent less than its forecast of 250 billion yen, Nikkei English News reported. The stock rose 1.7 percent to 1,971 yen.

Sumitomo Light Metal Industries Ltd. (5738 JT): The aluminum maker widened its full-year net loss outlook to 6.2 billion yen from 5.2 billion yen, as it books a 924 million yen charge from sale of land and buildings. The stock advanced 1.3 percent to 79 yen.

Suzuken Co. (9987 JT): The drug wholesaler said it will buy a 10 percent stake in Frontier Corp., a closely held pharmacy chain with 610 employees, as part of an alliance. Suzuken added 0.1 percent to 2,928 yen.

Toei Animation Co. (4816 JQ): The cartoon maker raised its full-year net income forecast 20 percent to 1.2 billion yen on higher-than-expected sales. The stock fell 0.2 percent to 1,600 yen.

Toyota Motor Corp. (7203 JT): The automaker’s output in North America in February, March and April may fall short of target by 20 percent because of vehicle recalls, Nikkei English News reported. The stock slipped 0.2 percent to 3,270 yen.

–Editors: Nicolas Johnson, Gregory Turk

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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NEC, Nippon Yusen, seven & I, Toyota: Japan Equity Preview

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