Bloomberg News

Asahi Kasei, Best Denki, DeNA, Fuji Soft: Asia Equities Preview

November 21, 2011

Nov. 21 (Bloomberg) -- The following companies may have unusual price changes in Japanese 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.

Asahi Kasei Corp. (3407 JT): Actelion Ltd. (ATLN VX), Europe’s largest biotechnology company, said it intends to appeal the $407.3 million verdict in the case brought against it by Asahi Kasei Pharma Corp. over the development of the drug fasudil, according to a press release. Asahi Kasei climbed 0.9 percent to 442 yen.

Best Denki Inc. (8175 JT): The electronics retailer plans to cut 300 jobs in Japan through an early retirement program, according to a statement. The stock added 1 percent to 208 yen.

China Construction Bank Corp. (939 HK): Temasek Holdings Pte., a Singapore state-owned investment company, bought 3.77 billion shares in the mainland’s second-largest lender on Nov. 11, according to a statement to the Hong Kong stock exchange. Temasek paid as much as HK$4.93 for each share, raising its stake in the Chinese bank to 9.42 percent from 7.86 percent after the transaction, the statement said. China Construction lost 0.9 percent to HK$5.35

DeNA Co. (2432 JT): Gree Inc. (3632 JT) and KDDI Corp. (9433 JT) sued DeNA for at least 1.05 billion yen ($13.7 million) for allegedly blocking others from providing services, according to social-network operator Gree. DeNA, which runs game and shopping websites, tumbled 12 percent to 2,302 yen. Gree slumped 5.1 percent to 2,614 yen. Mobile-communications provider KDDI rose 1.3 percent to 545,000 yen.

Dydo Drinco Inc. (2590 JT): The beverage maker said net income in the nine months ended Oct. 20 fell 20 percent to 2 billion yen, dragged down by disaster-related charges. Operating profit in the period rose 10 percent to 6.53 billion yen on lower fixed costs. The stock was unchanged at 3,020 yen.

Fancl Corp. (4921 JT): The maker of cosmetics and nutritional supplements said sales dropped 2.6 percent to 7.6 billion yen in October from a year earlier, hurt by plunging sales of kale juice and other supplements. The stock advanced 0.5 percent to 1,075 yen.

Fuji Soft Inc. (9749 JT): The software developer will buy back up to 1.57 percent of its outstanding shares through March 31. The company also said it will retire 2.8 percent of its total shares on Dec. 9. The stock slid 0.2 percent to 1,179 yen.

Inpex Corp. (1605 JT): Japan’s top oil explorer won approval from the Indonesian government to acquire the Babar Selaru oil and gas block, according to a statement on the company’s website that didn’t disclose financial terms. Inpex lost 2.6 percent to 475,500 yen.

PTT Global Chemical Pcl (PTTGC TB): Thailand’s biggest petrochemical maker will invest 114.8 million euro for a 51 percent stake of Perstorp Holding France SAS, the Thai company said in a regulatory filing. Perstorp is a producer of a chemical materials for production of foams and coating, it said. PTT Global dropped 3.8 percent to 63 baht.

Japan Real Estate Investment Corp. (8952 JT): The property trust registered to sell as much as 40.7 billion yen in shares, according to a filing with Japan’s finance ministry. The stock fell 1.4 percent to 636,000 yen.

Kaigen Co. (8000 JO), Sakai Chemical Industry Co. (4078 JO): Sakai Chemical, a maker of inorganic chemicals, will buy Kaigen in a share transaction, exchanging 1.35 shares for each of its target’s, according to a statement. Kaigen, a wholesaler of health care products, will be delisted from the Osaka Securities Exchange on Feb. 27. Kaigen was unchanged at 339 yen. Sakai Chemical slipped 0.7 percent to 300 yen.

Kyushu Electric Power Co. (9508 JT): The utility will borrow 100 billion yen in a syndicated loan from four Japanese banks, according to a person familiar with the matter who declined to be named because the details are private. Separately, Kyushu Electric plans to borrow 100 billion yen in a 1.12 percent 10-year loan from the Development Bank of Japan, the utility said in a statement. The stock added 0.1 percent to 1,063 yen.

Plenus Co. (9945 JT): The distributor of boxed meals said it will set up a South Korea venture with Dong Won Fisheries Co. (030720 KS), a Seoul-based deep-sea fishing company. Plenus will take a 40 percent stake in the venture to be established in January, with a reminder held by Dong Won Fisheries. Plenus rose 0.6 percent to 1,209 yen.

Singapore Telecommunications Ltd. (ST SP): Southeast Asia’s biggest phone company will raise $200 million selling seven-year floating-rate notes, according to data compiled by Bloomberg. SingTel, as the company is known, gained 0.6 percent to S$3.14.

Yellow Hat Ltd. (9882 JT), Idemitsu Kosan Co. (5019 JT): Idemitsu will consider buying shares of Yellow Hat as part of a planned alliance to develop and sell automobile accessories, according to a statement. Yellow Hat soared 8 percent to 1,303 yen. Idemitsu lost 2.6 percent to 7,550 yen.

--With assistance from Matthew Oakley and Jonathan Burgos in Singapore and Anuchit Nguyen in Bangkok. Editors: Matthew Oakley, Ravil Shirodkar.

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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