Bloomberg News

Acom, Japan Tobacco, Nexon, Onkyo, Toray: Japan Stocks Preview

January 22, 2012

(Add items on Olympus, Toshiba and Renesas.)

Jan. 23 (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.

Acom Co. (8572 JT): The consumer finance company plans to transfer a portion of its credit-card business to closely held Jibun Bank Corp. to consolidate their alliance, according to a statement to the Tokyo Stock Exchange. Acom rose 1.3 percent to 1,365 yen.

Chemiprokasei Kaisha Ltd. (4960 JO): The chemical maker will halt a factory and partly suspend operations at another plant, both in Hyogo prefecture, according to a statement. The company also plans to cut salaries for directors and employees. Shares gained 2.2 percent to 42 yen.

Canon Inc. (7751 JT): will establish sales subsidiaries in Colombia and Peru by 2014 to boost retail sales in South America, according to the Nikkei newspaper. Canon climbed 1.8 percent to 3,430 yen.

Disco Corp. (6146 JT): The machinery maker said sales fell 13 percent to 18.6 billion yen ($241 million) in the three months through December from a year earlier. Disco lost 0.6 percent to 4,450 yen.

Japan Tobacco Inc. (2914 JT): The cigarette maker’s domestic sales rose 9.8 percent to 59.2 billion yen in December from a year earlier, according to a statement to the bourse. The stock was unchanged at 384,000 yen.

Nexon Co. (3659 JT): The South Korea-based Internet gaming developer will buy a stake in Choirock Games Corp.’s online division, according to a statement to the Tokyo Stock Exchange. Nexon fell 2.2 percent to 1,164 yen.

Olympus Corp. (7733 JT): The company, on a watch list for a possible delisting after it admitted to inflating fees to advisers and overpaying for Japanese companies, was allowed to stay listed and fined 10 million yen, the Tokyo Stock Exchange said in a statement. The stock was unchanged at 1,199 yen.

Onkyo Corp. (6628 JQ): The audio-system maker will sell 5.83 million shares for 690 million yen to Teac Corp. (6803), a computer peripheral maker, to cement an alliance, according to a filing with the Finance Ministry in Japan. The stock dipped 0.8 percent to 119 yen.

Sony Corp. (6758 JT): The company plans to shift assembly of lithium-ion batteries from domestic factories to overseas plants in China and Singapore by March 2014, according to the Asahi newspaper. Sony rose 3.1 percent to 1,367 yen at Friday’s close, before Moody’s cut its credit rating one level to Baa1.

Toray Industries Inc. (3402 JT): The maker of synthetic fibers and industrial materials said it will buy the rest of Toray Tonen Specialty Separator from a unit of ExxonMobil Group to make it a wholly owned subsidiary. The stock gained 1.1 percent to 576 yen.

Toshiba Corp. (6502 JT), Renesas Electronics Corp. (6723 JT): Globalfoundries Inc., a U.S. chipmaker, is seeking to buy a plant in Japan and approached Toshiba and Renesas Electronics corp., the Nikkan Kogyo newspaper reported without saying where it obtained the information. Toshiba rose 2.8 percent to 237 yen. Renesas Electronics jumped 5.4 percent to 510 yen.

--Editors: Jim Powell, Jason Clenfield.

To contact the reporter on this story: Masaaki Iwamoto in Tokyo at miwamoto4@bloomberg.net

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


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