Dec. 14 (Bloomberg) -- 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.
3i Infotech Ltd. (III IN): The Indian software company was downgraded to “sell” from “hold” by analyst Hardik Shah at K.R.Choksey Shares & Securities Pvt. The brokerage cited “significant deterioration in the financial position of the company and resultant adverse impact on its overall business” among reasons for the rating cut. Shares sank 10 percent to a record 16.85 rupees.
Cybozu Inc. (4776 JT): The developer of Internet software said net income rose 19 percent to 336 million yen ($4.3 million) in the nine months ended Oct. 31, buoyed by a gain from sale of its affiliated stocks. Operating profit fell 27 percent to 544 million yen as sales declined 23 percent, the company said in a release. The stock fell 0.5 percent to 23,890 yen.
China Coal Energy Co. (1898 HK): The mainland thermal coal provider said sales volume in November declined 10 percent from a year earlier, while commercial coal production volume rose 14 percent. The stock lost 2.4 percent to HK$8.84.
China Resources Gas Group Ltd. (1193 HK): Fitch Ratings rated the Hong Kong-listed fuel supplier “BBB+” with “stable” outlook, citing the company’s profitability, strong financial profile and growth prospects of the gas industry. The stock gained 1.1 percent to HK$10.96.
Chow Tai Fook Jewellery Group Ltd. (1929 HK): The luxury- goods company traded at HK$14.12 at 5:05 p.m., according to data on the website of brokerage Phillip Securities Group., ahead of its debut in Hong Kong tomorrow. The company sold 1.05 billion shares at HK$15 each, according to two people with knowledge of the matter.
Daio Paper Corp. (3880 JT): The papermaker that filed a criminal complaint against its former chairman for breach of trust met a deadline to avoid automatic delisting by announcing earnings. Daio Paper had a 2.84 billion-yen loss for its first half ended Sept. 30, it said in a statement. The company also restated past earnings and said it plans to buy shares in units held by its founding family to strengthen corporate governance. Daio slid 2.3 percent to 545 yen.
DeNA Co. (2432 JT): The social media website operator will partner on Internet games with Alibaba Cloud Computing, a unit of China’s Alibaba Group, DeNA said on its website. The stock sank 4.3 percent to 2,277 yen.
Kumiai Chemical Industry Co. (4996 JT): The agrochemical maker forecast net income will rise by a quarter to 1.7 billion yen this fiscal year, with an 8.1 percent rise in sales. Shares rose 1.1 percent to 281 yen.
Kura Corp. (2695 JT): The sushi chain said full-year net income plunged 47 percent to 1.51 billion yen as advertising costs grew. The company expects a 35 percent gain in net income to 2.04 billion yen this fiscal year. The stock added 0.1 percent to 983 yen.
Nippon Steel Corp. (5401 JT) and Sumitomo Metal Industries Ltd. (5405 JT): The steelmakers received approval from the Japan Fair Trade Commission to merge, creating the world’s second- largest steelmaker. Nippon Steel was unchanged at 194 yen, while Sumitomo Metal added 0.7 percent to 140 yen.
Maxwell Industries Ltd. (MXWI IN): The Indian maker of undergarments said it received 390 million rupees from sale of its spinning business unit in Tamil Nadu state to M.C. Spinners Pvt., according to an exchange filing. Shares tumbled 5 percent to 22.95 rupees.
New China Life Insurance Co. (1336 HK): The mainland life insurer fell traded at HK$26.95 at 4:59 p.m., according to data on the website of brokerage Phillip Securities Group., ahead of its debut in Hong Kong tomorrow. The company sold 358.4 million shares at HK$28.50 apiece.
Olympus Corp. (7733 JT): The scandal-hit camera maker beat a deadline to avoid automatic delisting from the Tokyo Stock Exchange by filing its financial report, delayed after it admitted to a 13-year cover-up of investment losses. The stock may still be removed pending a review by the bourse. Olympus slumped 4.1 percent to 1,314 yen.
Solomon Systech International Ltd. (2878 HK): The integrated circuit products provider said it expects full-year net loss on lower-than-expected sales and later-than-anticipated launch of new products. The stock slid 1.6 percent to 18.1 Hong Kong cents.
Taisho Pharmaceutical Holdings Co. (4581 JT), Chugai Pharmaceutical Co. (4519 JT): The drugmakers said trials showed that their CT-064 treatment for osteoporosis was effective. The companies plan to seek approval for the drug in Japan next year, they said on the website. Taisho was unchanged at 5,600 yen, while Chugai added 0.2 percent to 1,236 yen.
--With assistance from Kana Nishizawa in Hong Kong and Shikhar Balwani in Mumbai. Editor: Ravil Shirodkar
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org
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