Canon, Hino, JFE, Kokuyo, Nidec, Toyota: Japan Equity Preview

By Norie Kuboyama

July 25 (Bloomberg) -- The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.

Canon Inc. (7751 JT): Japan's largest office-equipment maker said net income fell 13 percent to 107.8 billion yen ($999 million) in the second quarter because of a stronger yen against the dollar and slower sales of machines such as printers and copiers. Sales dropped 1.9 percent to 1.1 trillion yen. Canon gained 190 yen, or 3.7 percent, to 5,360.

Daiki Aluminium Industry Co. (5702 JO): The aluminum maker slashed its full-year net income outlook 64 percent to 1.02 billion yen, as it failed to pass on raw materials costs. The stock rose 8 yen, or 2 percent, 410.

FCC Co. (7296 JT): The clutch maker said it had first- quarter net income of 1.79 billion yen, compared with a 1.45 billion yen loss a year earlier due to lower corporate taxes. Current profit, or pretax profit from operations, in the quarter ended June 30 fell 11 percent to 3.67 billion yen, with a 1 percent slip in sales, the company said in a release. The stock advanced 42 yen, or 2.4 percent, to 1,784.

Fanuc Ltd. (6954 JT): Japan's largest maker of industrial robots said first-quarter net income rose 9.9 percent to 33.4 billion yen, with a 4.5 percent advance in sales. The company will pay a dividend of 172.79 yen for this business year. Fanuc added 90 yen, or 0.9 percent, to 10,070.

Hino Motors Ltd. (7205 JT): Japan's largest maker of heavy- duty trucks posted a 25 percent drop in first-quarter operating profit, or sales minus the cost of goods sold and administrative expenses, to 7.36 billion yen because of lower domestic sales and a stronger yen. Net income last quarter rose 3.5 percent to 6.89 billion yen because of a one-time gain from selling securities. The stock slipped 2 yen, or 0.3 percent, to 640.

Hitachi Chemical Co. (4217 JT): The maker of industrial materials and chemicals said first-quarter net income rose 28 percent to 8.68 billion yen, citing sales growth in its electronics-related products. The stock climbed 85 yen, or 4.1 percent, to 2,180.

Hitachi Kokusai Electric Inc. (6756 JT): The mobile phone maker affiliated with Hitachi Ltd. (6501 JT) halved its full-year net income forecast to 3.3 billion yen, citing delays in capital investment by makers of computer memory. Hitachi Kokusai gained 37 yen, or 4.2 percent, to 929. Hitachi added 12 yen, or 1.5 percent, to 791.

JFE Holdings Inc. (5411 JT): The world's third-biggest steelmaker will spend 20 billion yen to build a new coke oven at one of the company's steel mills under plans to expand production of the alloy to 33 million metric tons. The facility will begin operating in June 2010 in Kurashiki, western Japan, with annual capacity of 440,000 tons, the steelmaking unit said in a statement through an industry press club. JFE fell 10 yen, 0.2 percent, to 5,640.

JS Group Corp. (5938 JT): The maker of doors and partitions may report a 34 percent decline in first quarter operating profit to about 7 billion yen as a decline in housing starts cuts demand for building materials, the Nikkei newspaper said. The stock added 16 yen, or 1.1 percent, to 1,522.

Jafco Co. (8595 JT): The venture-capital company said first- quarter net income dropped 12 percent to 2.28 billion yen on a 43 percent plunge in revenue. Jafco rose 120 yen, or 3.2 percent, to 3,860.

Kabu.com Securities Co. (8703 JT): The online brokerage said first-quarter net income slipped 18 percent to 1.26 billion yen, with a 14 percent fall in revenue. The stock increased 3,800 yen, or 3.3 percent, to 118,600.

Kibun Food Chemifa Co. (4065 JT): The maker of food additives and soy bean products said first-quarter net income plunged to 78 million yen from 315 million yen a year earlier, with an 8.3 percent drop in sales. The stock increased 28 yen, or 2.5 percent, to 1,155.

Kokuyo Co. (7984 JT): The stationary maker's first-half net income amounted to 1.5 billion yen, beating its estimate by 67 percent, citing lower administration costs and gains from the sale of stockholdings, according to a preliminary earnings statement. Kokuyo advanced 26 yen, or 2.9 percent, to 917.

Mirai Industry Co. (7931 JN): The electrical materials maker said first-quarter net income slumped 73 percent to 221 million yen, with a 9.2 percent drop in sales. The stock lost 3 yen, or 0.3 percent, to 947.

Mitsubishi Estate Co. (8802 JT): The developer said the average vacancy rate for its commercial buildings and warehouses increased to 2.11 percent at the end of June from 2.06 percent in March. New condominiums added to the market fell 42 percent for the three months ended June to 147 units from 255 a year earlier. The stock gained 80 yen, or 3.1 percent, to 2,645.

Nidec Corp. (6594 JO): The company may post a 35 percent increase in first-quarter net income to about 15 billion yen helped by sales of motors used in home appliances, the Nikkei newspaper reported. Nidec rose 190 yen, or 2.7 percent, to 7,180.

Pacific Metals Co. (5541 JT): The maker of stainless steel shut a plant with annual production capacity of 40,000 tons of ferronickel after an earthquake hit northern Japan. Pacific Metals expected no major damage to the plant and hasn't decided when it will resume operation, a spokesman said. The shares fell 1.3 percent to 706 yen.

PanaHome Corp. (1924 JT): The homebuilder said its first- quarter operating loss narrowed to 3.57 billion yen from 4.62 billion yen a year earlier due to restructuring efficiencies. Its net loss in the quarter widened to 3.17 billion yen from 3.15 billion yen a year ago, citing charges on inventory after the adoption of a new accounting standard. PanaHome added 12 yen, or 2.1 percent, to 580.

Toyobo Co. (3101 JT): The fibermaker expects to take a 4 billion yen charge in the first quarter, reflecting the devaluation of inventory from the adoption of a new accounting standard. Toyobo is assessing the impact from the charge as well as other factors on its earnings forecast for this business year ending March. Toyobo advanced 5 yen, or 2.4 percent, to 212.

Toyota Motor Corp. (7203 JT): The automaker may increase the price of some models it sells in Japan by as much as 3 percent to cover higher raw material costs, the Asahi newspaper reported. The increase, which won't apply to compacts, would be the first since 1992 that didn't accompany the release of new models, the report said. The stock rallied 250 yen, or 5.1 percent, to 5,120.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.