Bloomberg News

Chugoku, ENN Energy, Kanagawa Chuo: Asian Stocks Preview

March 23, 2012

The following companies may have unusual price changes in Asian trading on March 26. 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.

Chugoku Electric Power Co. (9504) (9504 JT): The utility forecast a loss of 5 billion yen ($60 million) for the year ending March 31 citing power supply and demand conditions with nuclear plants sitting idle, according to a statement. The stock rose 0.6 percent to 1,535 yen.

EIH Associated Hotels Ltd. (OAH) : The owner and operator of Oberoi and Trident luxury hotels said its board will meet on March 28 to consider raising capital through a rights offer and merge its unit, Island Hotel Maharaj Ltd., with itself, according to a statement to stock exchanges. The shares climbed 0.2 percent to 152.15 rupees.

ENN Energy Holdings Ltd. (2688) (2688 HK): Moody’s Investors Service said the company’s Baa3 issuer and senior unsecured ratings are still on review for a downgrade. The stock rose 0.6 percent to HK$27.55.

Kanagawa Chuo Kotsu Co. (9081) (9081 JT): The bus and taxi company raised its net-income forecast by 53 percent to 2.3 billion yen for the year ending March 31, citing a recovery from the earthquake last year and business streamlining, according to a statement. The stock rose 0.2 percent to 441 yen.

Neo-Neon Holdings Ltd. (1868) (1868 HK ): The light-emitting diodes-based lighting products maker said it expects a loss for the year ending March 31 amid overproduction in the industry. The shares fell 2.2 percent to HK$1.77.

Nidec Copal Corp. (7756) (7756 JT): The maker of electronic components used for optical equipment cut its net-income forecast for the year ending March 31 by 86 percent to 300 million yen, citing falling prices and sales, according to a statement. The stock added 4.7 percent to 1,036 yen.

Nisshin Oillio Group Ltd. (2602) (2602 JT): The maker of cooking oil products boosted its net-income forecast for the year ending March 31 by 6 percent to 3.6 billion yen, citing favorable grain markets and foreign exchange conditions, according to a statement. The stock rose 0.3 percent to 356 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


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus