Bloomberg News

Fast Retailing, Itochu, Tokyu, Wakita: Japanese Stocks Preview

March 03, 2012

The following companies may have unusual price changes in trading on March 5. 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.

Aeon Co. (8267) (8267 JT): President Motoya Okada demanded J Front Retailing Co. (3086 JT) explain reason it bought 33.2 percent stake in Parco Co. (8251 JT), the Yomiuri newspaper reported, citing an interview. The retailer will oppose J Front depending on the reasons, he was quoted as saying. Aeon rose 1.1 percent to 1,045 yen. J Front gained 3.2 percent to 420. Parco advanced 3.3 percent to 816 yen.

Fast Retailing Co. (9983) (9983 JT): Asian’s biggest apparel chain said same-store sales at its Uniqlo Japan stores rose 2.3 percent, the company said in a statement. The stock fell 0.7 percent to 16,850 yen.

Itochu Corp. (8001) (8001 JT): The trading firm plans to buy 25 percent of Teraoka Seisakusho Co. (4987 JT), becoming the adhesive-tape maker’s largest shareholder, according to a filing to the Finance Ministry. Itochu added 0.9 percent to 919 yen. Teraoka surged 13.5 percent to 396 yen.

Nippon Steel Corp. (5401) (5401 JT), Sumitomo Metal Industries Ltd. (54-5) (5405 JT): Nippon Steel President Shoji Muneoka will be chairman after the merger with Sumitomo Metal Industries, with Sumitomo Metal President Hiroshi Tomono as president, the companies said in a statement. The merger is expected to be completed by October. Nippon Steel added 1.3 percent to 230 yen. Sumitomo Metal gained 1.2 percent to 166 yen.

Sanyo Housing Nagoya Co. (8904 JT): The home design company plans to raise as much as 1.05 billion yen ($13 million) in a public share sale, according to a filing with the Finance Ministry. The share rose 0.3 percent to 77,800 yen.

Shimamura Co. (8227) (8227 JT): The retailer will probably report a 10 percent gain in operating profit to 43 billion yen for the year ended in February, the Nikkei newspaper reported. Shimamura fell 1.6 percent to 8,680 yen.

Tokyu Corp. (9005) (9005 JT): The rail transportation company registered to sell as much as 120 billion yen of bonds, according to a filing with Japan’s Finance Ministry. The registration takes effect on March 10 and is valid for two years. A shelf registration allows for bond sales without obligating the company or country to borrow. The stock rose 3.8 percent to 408 yen.

Wakita & Co. (8125) (8125 JO): The manufacturing and trading firm plans to raise up to 3.3 billion yen in a public sale of treasury shares, according to a filing with the Finance Ministry. The stock lost 1.8 percent to 598 yen.

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

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


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