Japan Tobacco

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.

Japan Tobacco Inc. (2914 JT): The cigarette maker’s domestic sales volume rose 40 percent in November from a year earlier, the company said in a release. The stock fell 0.1 percent to 365,000 yen.

JX Holdings Inc. (5020 JT): JX Nippon Oil & Gas Exploration Corp., a unit of JX Holdings, secured a $263 million loan for its liquefied natural gas project in Papua New Guinea, according to a statement from Japan Bank for International Cooperation. JX added 0.2 percent to 481 yen.

Kyushu Electric Power Co. (9508 JT): Radioactive water was found at the utility’s Genkai plant in Saga prefecture, Kyodo News said. The leak of 1.8 tons of cooling water containing radioactive material remained within a purification system at the plant and didn’t escape outside, according to Kyodo. Kyushu Electric failed to report the leak when it announced the pump problem at the plant in southern Japan, Kyodo said. The stock lost 0.3 percent to 1,067 yen.

Nippon Steel Corp. (5401 JT), Sumitomo Metal Industries Ltd. (5405 JT): Japanese regulators will approve a merger of the two steel producers, the Asahi newspaper said. The companies aim to complete the tie-up by October 2012, according to the report. Nippon Steel dropped 3 percent to 192 yen, while Sumitomo Metal Industries fell 2.8 percent to 138 yen.

Nissan Motor Co. (7201 JT): The automaker expects to double sales of its Leaf electric car to full capacity of 40,000 vehicles next year, the Financial Times reported, citing an interview with Andy Palmer, the automaker’s head of business strategy and corporate planning. The stock slipped 0.9 percent to 687 yen.

Olympus Corp. (7733 JT): The camera maker may file its earnings without having an auditor sign off on the statement so it can meet a Dec. 14 deadline, Jiji Press said. Auditing firms are unlikely to finish checking corrections to past and current reports by the filing date, Jiji said, which comes after the company admitted to trying to hide losses. Separately, the Asahi newspaper reported Olympus’s office may be searched by Tokyo prosecutors after the company submits securities reports on Dec. 14. Olympus rose 2.4 percent to 1,206 yen.

Panasonic Corp. (6752 JT): The electronics company plans to start selling smartphones in Europe in March, subsidiary Panasonic Mobile Communications Co. said. Panasonic aims to use Europe as a stepping stone to lift overseas sales of its mobile phones to 9 million units in the fiscal year ending March 2016. The stock lost 2.8 percent to 694 yen.

Ryohin Keikaku Co. (7453 JT): The owner of the Muji retail chain will probably report a 15 percent increase in operating profit for the nine months ended Nov. 30 from a year earlier, the Nikkei newspaper reported. The company’s profit rose to about 12 billion yen for the period because of robust sales in Japan and reduced marketing expenses, it said. The stock gained 1 percent to 3,615 yen.

Sojitz Corp. (2768 JT): The trading company forecast a loss of 12 billion yen for the year ending March 31, citing charges related to deferred tax assets, according to a filing with the Tokyo Stock Exchange. That compares with a previous projection of 16 billion in net income. The stock fell 1.6 percent to 127 yen.

Tohoku Electric Power Co. (9506 JT): The utility has restarted the Shin-Sendai No. 1 thermal unit, which was closed after the March 11 earthquake, Tohoku Electric said on its website. The stock slid 0.6 percent to 773 yen.

Tokyo Electric Power Co. (9501 JT): The utility aims to cut 2.65 trillion yen in costs over the next 10 years, it said in a statement distributed to reporters on Dec. 9. Separately, the owner of the crippled Fukushima Dai-Ichi nuclear power plant reiterated that no decision has been made on a reported nationalization of the utility or a capital injection. The utility is in talks with KDDI Corp. (9433 JT) to sell its 17 percent stake in Japan Cablenet Ltd. for about 10 billion yen, the Nikkei reported. The stock rose 1.2 percent to 247 yen.

Toyota Motor Corp. (7203 JT): The world’s biggest carmaker by market value cut its profit forecast 54 percent, saying Thailand’s floods hurt production. Net income will fall to 180 billion yen ($2.3 billion) in the 12 months ending March 31, the Toyota City-based carmaker said in a statement. The stock fell 0.4 percent to 2,636 yen.

-With assistance from Kanoko Matsuyama in Tokyo. Editors: Jim Powell, Jason Clenfield.

news.businessweek.com

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word