Aeon, Fast Retailing, Shimano, Pioneer: Japan equity preview
October 5, 2009 - 0:0
The following companies may have unusual price changes in Japanese trading on Oct. 5. 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.
77 Bank Ltd.: The regional bank said in a preliminary earnings release that first-half net income amounted to 3.8 billion yen ($42.5 million), beating its outlook by 90 percent, as credit costs were below the lender’s expectations. The bank earned 3.88 billion yen a year earlier. The stock lost 1.2 percent to 494 yen.Aeon Co.: The retailer probably had a loss in the six months ended August as its financial unit booked a one-time charge on refunds of excessive interest payments, the Nikkei newspaper said. The company’s net loss may total 12 billion yen for the March-August period, compared with a 16 billion yen loss a year earlier, the Nikkei said. The stock declined 0.4 percent to 836 yen.
Bals Corp.: The home-furnishing retailer said its same-store sales in September declined 11 percent, compared with the same month a year earlier. The stock added 0.5 percent to 74,000 yen.
Central Security Patrols Co.: The security service company cut its full-year net income forecast 17 percent to 820 million yen, due to more-than-expected labor costs. The stock rose 0.9 percent to 928 yen.
Clarion Co.: The maker of car electronics may report an unexpected profit in the second quarter on demand for navigation units, Nikkei reported. The stock fell 2.4 percent to 80 yen.
Daito Trust Construction Co.: The builder’s first-half net income unexpectedly rose to 15.8 billon yen year on year, aided by more-than-expected contracts and cost cuts, according to a preliminary earnings statement. The company had forecast 12.7 billion yen profit and earned 13.7 billion yen a year earlier. The stock dropped 2.6 percent to 3,760 yen.
Fast Retailing Co.: Japan’s largest casual clothing chain operator posted the biggest gain in domestic sales at its Uniqlo stores in 10 months after leather jackets and jeans attracted customers. Sales at stores open at least a year surged 32 percent in September from a year earlier, the company said in a statement. The stock slipped 1 percent to 11,780 yen. Hitachi Construction Machinery Co. (6306 JT): Asia’s second-largest maker of earthmoving equipment may report a fiscal first-half operating profit, beating an earlier break- even estimate, the Nikkei newspaper reported. The stock fell 0.4 percent to 1,898 yen.
Kourakuen Corp.: The operator of noodle shops said September sales at its 372 direct-run restaurants open at least 13 months climbed 5.9 percent from the same month a year earlier, marking a third-straight monthly rise on high customer traffic. The stock dropped 0.1 percent to 1,192 yen.
Mitsubishi Heavy Industries Ltd.: The company’s airplane unit won an order for as many as 100 of its MRJ regional jets from Trans States Holdings, its first from overseas. Mitsubishi Aircraft Corp. received 50 firm orders and options for 50 more from the Bridgeton, Missouri-based company, which owns regional carriers Trans State Airlines and GoJet Airlines, the Japanese company said in a statement. The value of the order wasn’t disclosed. Mitsubishi Heavy rallied 3.4 percent to 337 yen.
Nachi-Fujikoshi Corp.: The bearing maker swung to nine-month net loss of 7.25 billion yen from 7.14 billion yen profit a year earlier, with a 49 percent plunge in sales. The stock declined 4.1 percent to 187 yen.
Nippon Chemical Industrial Co.: The inorganic chemical maker reversed its full-year forecast to a net loss of 1.08 billion yen from 100 million yen profit, citing falling product prices and the charges related to those inventory assets. The stock fell 0.9 percent to 230 yen.
Nissan Holdings Co.: The mail-order business operator said sales in the month ended Sept. 20 fell 3.7 percent on a parent basis, hurt by suspended deliveries on part of its products and falling merchandise prices. The stock slipped 2.8 percent to 279 yen.
Nomura Holdings Inc.: Fortress Investment Group LLC, in which Nomura holds a 15 percent stake, will buy non- performing loans in Japan, as they are “undervalued,” the Nikkei newspaper reported, citing Peter Briger, the co-chairman of Fortress. Nomura rose 0.2 percent to 534 yen.
Okano Valve Manufacturing Co.: The valve maker said nine-month net income fell 686 million yen from 745 million yen a year earlier, with a 5.9 percent drop in sales. The stock slid 1.7 percent to 944 million yen.
Pioneer Corp.: The maker of car-navigation systems and audio equipment said 1,204 employees accepted buyout offers to leave the company. The stock added 0.5 percent to 207 yen.
Ringer Hut Co.: The noodle restaurant chain said in a preliminary earnings statement first-half operating profit amounted to 283 million yen, 26 percent below its forecast, with less-than-expected sales. The stock slid 0.2 percent to 1,140 yen.
Shimano Inc.: The maker of bicycle equipment and fishing gear cut its net income projection for the current year by 11 percent to 15.6 billion yen, citing a charge from a drop in the value of shares it holds. The stock sank 3.5 percent to 3,610 yen.
United Arrows Ltd.: The apparel chain said September same-store sales gained by 4.5 percent year on year, aided by higher customer traffic. The stock fell 1.3 percent to 754 yen.
Uny Co.: The department store chain posted a first-half net loss of 2.64 billion yen, compared with a 4.5 billion yen profit a year earlier, citing charges from devaluations of inventories and other assets. The stock dived 3.3 percent to 639 yen.
Zuken Inc.: The developer of engineering and design computer systems slashed its full-year net income outlook 93 percent to 50 million yen, as administration cost cuts failed to compensate for a drop in sales. The stock slumped 4.8 percent to 679 yen.
(Source:Bloomberg)
