Matsushita, OSG, Sumitomo Mitsui, Takeda: Japan Equity Preview

By Norie Kuboyama

July 1 (Bloomberg) -- The following companies may have unusual price changes in Japan 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.

Aderans Holdings Co. (8170 JT): The wigmaker that had its board ousted by shareholders last month said it would seek investor approval for a new chief executive officer and slate of directors on Aug. 9. Aderans said the nomination of Kiyoshi Hayakawa as chief executive and the directors had the support of its largest investor Warren Lichtenstein's Steel Partners Japan Strategic Fund (Offshore) LP, which led the revolt against the board at the company's May 29 shareholder meeting. Steel Partners said it ``welcomed the steps by Aderans to enhance corporate value,'' in a separate e-mailed statement. Aderans gained 73 yen, or 3.7 percent, to 2,050.

Aeon Fantasy Co. (4343 JT): The amusement park operator said first-quarter net income declined 53 percent to 111 million yen ($1.1 million), citing a 12 percent drop in same-store sales in May. The stock fell 13 yen, or 1.1 percent, to 1,226.

Bridgestone Corp. (5108 JT): The world's largest tiremaker by sales said it has recalled bathwater heaters made by Japanese manufacturers Denso Corp. (6902 JT) and Corona Industries Ltd. on concern they could overheat or cause fires. Bridgestone lost 23 yen, or 1.4 percent, to 1,623. Denso fell 60 yen, or 1.6 percent, to 3,650.

CFS Corp. (8229 JT): The supermarket chain said first- quarter net income was 114 million yen, compared with a 239 million yen loss a year earlier, citing a drop in sales and administration costs. CFS slumped 24 yen, or 3.5 percent, to 671.

Chuo Mitsui Trust Holdings Inc. (8309 JT): The Japanese government will sell 107.4 billion worth of shares in Chuo Mitsui Trust in Japan and overseas, enabling the bank to repay public funds. Chuo Mitsui also plans to buy back 140 billion yen worth of preferred shares from the government between July 2 and July 4, the bank said in a statement. Chuo Mitsui added 1 yen, or 0.2 percent, to 632.

Daiseki Co. (9793 JT): The waste disposal services provider said first-quarter net income climbed 44 percent to 1.48 billion yen, with a 31 percent gain in sales. Daiseki advanced 70 yen, or 2.1 percent, to 3,380.

IBJ Leasing Co. (8425 JT): The leasing company will buy as much as 20 percent of a leasing unit from Eighteenth Bank Ltd. (8396 JT) in Nagasaki prefecture, southern Japan, as part of a business alliance. IBJ slid 31 yen, or 1.6 percent, to 1,898. Eighteenth Bank was unchanged at 381 yen.

Ichiyoshi Securities Co. (8624 JT): The brokerage said in a preliminary earnings statement that net income in the three months ended June 30 plunged to 302 million yen from 715 million yen a year earlier, with a 20 percent drop in revenue. The stock slipped 22 yen, or 2.2 percent, to 973.

Matsushita Electric Industrial Co. (6752 JT): The company formed an alliance with three gas suppliers, Tokyo Gas Co. (9531 JT), Toho Gas Co. (9533 JT) and Saibu Gas Co. (9536 JT), on household fuel cells, the Nikkei newspaper reported. Matsushita slid 5 yen, or 0.2 percent, to 2,290. Tokyo Gas advanced 16 yen, or 3.9 percent, to 428. Toho Gas rose 16 yen, or 2.8 percent, to 582. Saibu Gas added 7 yen, or 3 percent, to 243.

Mitsubishi Chemical Holdings Corp. (4188 JT): The chemical maker, which is raising product prices this month, will increase them again in August because of higher oil prices, the Nikkei newspaper reported. The company will raise prices of almost all its products, Nikkei reported. The stock added 1 yen, or 0.2 percent, to 618.

Nippon Steel Corp. (5401 JT), JFE Steel Corp. (5411 JT) and other Japanese steelmakers yesterday accepted an almost doubling in the price of Australian iron ore for fiscal 2008 shipments in talks with Rio Tinto Group (RIO LN), Nikkei English News said. The increase will add about $943 million to costs for Japan's steel industry, the report said. Nippon Steel rose 12 yen, or 2.1 percent, to 575. JFE gained 170 yen, or 3.3 percent, to 5,350.

Nomura Co. (9716 JT): The interior design company said first-quarter net income plunged 79 percent to 208 million yen, with a 13 percent drop in sales. The stock fell 1 yen, or 0.3 percent, to 358.

OSG Corp. (6136 JT): The maker of machine tool equipment cut its full-year net income forecast 8.6 percent to 7.4 billion yen, on lower-than-expected sales. OSG declined 14 yen, or 1.2 percent, to 1,200.

Risa Partners Inc. (8924 JT): The provider of due diligence services said it will spend 1.7 billion yen to buy common shares, preferred shares and bonds attached with warrants of Hello Foods Co., a closely held operator of 23 supermarkets and eight discount store chains in central Japan with 1,318 workers. Risa Partners slumped 6,000 yen, or 3.6 percent, to 162,000.

Sankyo-Tateyama Holdings Inc. (3432 JT): The maker of aluminum mesh reversed its full-year forecast to a net loss of 2.6 billion yen from 400 million yen in profit, citing lower sales, a bigger-than-expected drop in product prices and a tax- related charge. The stock fell 1 yen, or 0.8 percent, to 125.

Sumitomo Mitsui Financial Group Inc. (8316 JT): The bank arranged a syndicated loan of 50 billion yen for International Business Machines Corp. (IBM US), the first time the U.S. company has asked a Japanese bank for such an arrangement, Nikkei English News reported. The stock lost 24,000 yen, or 2.9 percent, to 799,000.

Takeda Pharmaceutical Co. (4502 JT): Japan's largest drugmaker is seeking regulatory approval for its colon and rectum cancer treatment Panitumumab, which is sold as Vectibix in the U.S. by Amgen Inc. (AMGN US). Takeda rose 20 yen, or 0.4 percent, to 5,400.

Tenmaya Store Co. (9846 JT): The supermarket operator said first-quarter net income declined 48 percent to 131 million yen, with a 1.9 percent slip in revenue. The stock added 2 yen, or 0.2 percent, to 890.

Tokyo Electric Power Co. (9501 JT): Asia's biggest utility is in talks to secure coal deliveries in October, probably from Australian suppliers, The Tex Report said, without saying where it got the information. The stock gained 100 yen, or 3.8 percent, to 2,730.

Tokyo Tatemono Co. (8804 JT): The builder cut its full-year net income forecast 36 percent to 14 billion yen and its sales forecast 6.4 percent to 220 billion yen. The stock added 4 yen, or 0.6 percent, to 687.

Tokyo Tatemono Real Estate Sales Co. (3225 JT): The real estate unit of Tokyo Tatemono Co. (8804 JT) slashed its full-year net income outlook 63 percent to 900 million yen, citing stricter screening by the lenders. The stock fell 4 yen, or 0.9 percent, to 425.

U Store Co. (9859 JT): The supermarket operator said first- quarter net income dropped 24 percent to 239 million yen, citing increased personnel and power costs. The stock rose 17 yen, or 2 percent, to 880.

Uny Co. (8270 JT): The department store chain said first- quarter net income rose 23 percent to 1.58 billion yen, citing decreased costs related to store closures. Uny declined 4 yen, or 0.4 percent, to 1,046.

Yonkyu Co. (9955 JQ): The seafood company will buy back as much as 2.65 percent of its outstanding shares from July 7 through March 27 next year. Yonkyu rose 1.7 percent, to 590.

Zict Inc. (9901 JQ): The steak restaurant chain said first- quarter net income gained 30 percent to 291 million yen, with a 5 percent advance in sales. Zict added 1 yen, or 0.4 percent, to 236.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.
Last Updated: June 30, 2008 19:09 EDT