Bloomberg News

Ajinomoto, IHI, KDDI, Mitsubishi Motors: Japan Stocks Preview

October 24, 2011

(Adds items on Ajinomoto, Daiichi Sankyo, Fujitsu, Olympus, Sumitomo Chemical and Toyota.)

Oct. 25 (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 latest close. The information in each item was released after markets shut unless stated otherwise.

Ajinomoto Co. (2802 JT): The seasoning maker’s operating profit in the six months ended September probably rose to more than 42 billion yen ($551 million) from 41.7 billion yen a year earlier at Japan’s March earthquake boosted demand for home cooking, the Nikkei newspaper reported. The stock fell 0.5 percent to 888 yen.

Canon Marketing Japan Inc. (8060 JT): The distributor for Canon Inc. (7751 JT) said net income in the nine months ended Sept. 30 jumped to 2.4 billion yen from 296 million yen a year earlier. Canon Marketing slid 0.1 percent to 942 yen.

Daiichi Sankyo Co. (4568 JT): First-half operating profit probably totaled about 65 billion yen, beating the drugmaker’s 60 billion yen forecast, the Nikkei newspaper reported. Daiichi Sankyo, Japan’s second-largest drugmaker, slid 0.6 percent to 1,579 yen.

Fujitsu Ltd. (6702 JT): The electronics maker said it seeks to get most of the 200 billion yen in supercomputer orders targeted by the Japanese government in the next five years and is close to releasing its K supercomputer. The stock slipped 0.5 percent to 405 yen.

IHI Corp. (7013 JT): The heavy-machinery maker’s first-half net income missed its forecast by 29 percent after values of its securities holdings declined. IHI posted net income of 5 billion yen in the six months ended September, compared with a forecast of 7 billion yen, according to a preliminary earnings statement. The stock gained 3.9 percent to 185 yen.

KDDI Corp. (9433 JT): The mobile operator, which began offering Apple Inc.’s iPhone in Japan this month, raised its annual target for smartphone sales by 25 percent to 5 million units, President Takashi Tanaka told reporters in Tokyo. First- half operating profit rose 7.6 percent to 266.7 billion yen, KDDI said in a separate release. The stock advanced 1.6 percent to 564,000 yen.

Mitsubishi Motors Corp. (7211 JT): The automaker’s first- half profit beat its forecast after sales increased and costs fell. Mitsubishi had net income of 10.6 billion yen for the six months ended Sept. 30, compared with its previous break-even forecast, according to preliminary results through the Tokyo Stock Exchange. The stock rose 3 percent to 103 yen.

Nishimatsuya Chain Co. (7545 JT): The apparel retailer said same-store sales in the month ended Oct. 20 rose 0.5 percent from the same period a year earlier, its first increase in 11 months. The stock gained 2.4 percent to 598 yen.

Nomura Real Estate Holdings Inc. (3231 JT): The developer said in a preliminary earnings statement that first-half net income amounted to 5 billion yen, beating its 2 billion yen forecast, on lower administration costs. The stock rose 2 percent to 1,305 yen.

NTT Data Corp. (9613 JT): The provider of network-system services said it has acquired a 40 percent stake in VietUnion Online Services Corp., a Vietnamese information-technology company. NTT Data added 1.4 percent to 260,100 yen.

Olympus Corp. (7733 JT): The company, facing criticism by shareholders for paying advisers $687 million in its purchase of Gyrus Group Plc, concluded in a 2009 probe that it was “not able to discover any illegal or unjust points” in the fees. The camera and medical-equipment maker’s internal investigation was conducted by an attorney, an accountant and a professor, according to a copy of the report obtained by Bloomberg News. The stock plunged 11 percent to 1,099 yen.

Penta-Ocean Construction Co. (1893 JT): The general contractor’s net income totaled 900 million yen in the six months ended Sept. 30, swinging from a forecast loss of 600 million yen, according to a preliminary earnings statement. The stock added 0.4 percent to 249 yen.

Shikoku Bank Ltd. (8387 JT): The regional bank’s net income came to 3.5 billion yen in the six months ended Sept. 30, beating its profit outlook by 59 percent on less-than-expected credit costs, according to a preliminary earnings statement. The stock fell 0.4 percent to 281 yen.

Shima Seiki Manufacturing Ltd. (6222 JO): The maker of knitting machinery slashed its full-year net-income projection 80 percent to 1 billion yen due to foreign exchange losses and disappointing sales. The stock advanced 1 percent to 1,458 yen.

Sumitomo Chemical Co. (4005 JT): The chemical maker’s operating profit likely rose 2 percent to about 54 billion yen, beating its 50 billion yen outlook, on growing sales of medicines in Japan and herbicides overseas, the Nikkei newspaper reported. The stock gained 2.9 percent to 285 yen.

Toto Ltd. (5332 JT): The maker of ceramic fixtures such as toilets raised its operating-profit outlook 14 percent to 20 billion yen in the year ending March 31, while cutting its net- income forecast 7.7 percent to 12 billion yen for the same period. The stock climbed 2.6 percent to 677 yen.

Toyota Motor Corp. (7203 JT): About 6,000 automobiles produced in factories in Japan could be affected by floods at factories in Thailand, Amiko Tomita, a spokeswoman for the automaker, said. The stock rose 1.3 percent to 2,580 yen.

--Editors: Jim Powell, Jason Clenfield.

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

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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