Feb. 3 (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.
Canon Inc. (7751 JT): The world’s biggest camera maker said it will spend as much as 50 billion yen ($660 million) to buy back as much as 1.3 percent of its outstanding shares. The stock rose 0.3 percent to 3,280 yen.
Cosmo Oil Co. (5007 JT): The oil refiner expects to break even for the fiscal year ending March 31, citing partial reversal of deferred tax assets. It had earlier forecast net income of 13 billion yen. Shares fell 1.4 percent to 219 yen.
Elpida Memory Inc. (6665 JT): Facing an April debt deadline, the memory-chip maker said it expects to reach agreement with the government and lenders for future support. It also said its loss widened to 42.1 billion yen for the three months ended Dec. 31 from 29.6 billion yen a year earlier. Elpida climbed 4 percent to 337 yen.
Hitachi Ltd. (6501 JT): The company said third-quarter profit declined as a falling television demand, a strengthening yen and floods in Thailand eroded earnings. Net income was 34.3 billion yen for the three months ended Dec. 31, compared with 62 billion yen a year earlier, the maker of products from nuclear power systems to kitchen appliances said in a statement. The stock fell 2 percent to 399 yen.
Mazda Motor Corp. (7261 JT): The automaker widened its full-year loss forecast to 100 billion yen from 19 billion yen, citing slumping sales in Europe and reversal of deferred tax assets. The stock rose 1.6 percent to 130 yen.
Mitsubishi Materials Corp. (5711 JT): Japan’s third-largest copper producer slashed its full-year net income projection 91 percent to 2 billion yen, while raising its operating profit forecast 16 percent to 52 billion yen. The stock tumbled 5.8 percent to 226 yen.
Nippon Sheet Glass Co. (5202 JT): The glassmaker expects a loss of 2 billion yen for the year ending March 31, citing slumping demand in Europe, after earlier forecasting net income of 15 billion yen. The company also said it will cut 3,500 jobs. The stock slipped 1.3 percent to 150 yen.
Panasonic Corp. (6752 JT): The electronics company may forecast a loss of more than 700 billion yen for the year ending March 31 due to Thai flooding, Europe’s debt crisis and the purchase of Sanyo Electric Co., the Mainichi newspaper reported without saying where it got the information. The stock lost 4.1 percent to 592 yen.
Softbank Corp. (9984 JT): Japan’s third-largest wireless carrier said net income jumped 76 percent to 250.1 billion yen in the nine months ended Dec. 31, buoyed by the sale of Yahoo Inc. shares. Softbank rose 4.3 percent to 2,230 yen.
Sony Corp. (6758 JT): Japan’s largest consumer-electronics exporter more than doubled its forecast for a full-year loss to 220 billion yen, underscoring the challenge for incoming Chief Executive Officer Kazuo Hirai, who will replace Howard Stringer. Sony will close less-competitive businesses and review its portfolio, Hirai said. The stock lost 2.6 percent to 1,328 yen.
Sumitomo Metal Industries Ltd. (5405 JT): Japan’s third- largest steelmaker by market value expects a loss of 55 billion yen in the year ending March 31, citing a drop in the value of its investments. The company cut its planned full-year dividend to 2 yen per share from 3.5 yen. The stock added 0.7 percent to 138 yen.
Sumco Corp. (3436 JT): The silicon wafer maker’s full-year loss amounted to 85 billion yen in the year ended Jan. 31, wider than its 9 billion yen forecast, according to a preliminary earnings statement. Sumco will sell 45 billion yen of preferred shares to companies including Sumitomo Metal Industries and Mitsubishi Materials, according to statement. Sumco plunged 15 percent to 575 yen.
--Editor: Jim Powell
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