Aeon, Elpida, Kiyo, NTT, Sharp, Shionogi: Japan Equity Preview

By Akiko Ikeda and Norie Kuboyama

Oct. 7 (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.

Aeon Co. (8267 JT): The retailer will close 60 supermarkets in the two-year period to February 2010, the Asahi newspaper reported. The company said in July that it would shut 40 stores over two years. Aeon slumped 27 yen, or 2.5 percent, to 1,071.

Akita Bank Ltd. (8343 JT): The regional bank slashed its net income forecast for the year ending March 31 by 71 percent to 1.1 billion yen ($10.5 million), citing an expected increase in credit costs and charges on devalued stockholdings. The stock fell 7 yen, or 1.8 percent, to 378.

Asset Managers Holdings Co. (2337 JX): The real estate investment firm, whose shares are down more than 90 percent this year, said it will delay by two months payment for land it bought from the Tokyo Metropolitan Government. The company, which manages a 556 billion yen ($5.4 billion) property fund, bought an 11,158 square-meter parcel of land near Tokyo Bay for 10.8 billion yen in March last year. The stock fell 1,990 yen, or 18 percent, to 9,230.

Benefit One Inc. (2412 JT): The employee benefit provider raised its full-year profit outlook by 10 percent to 1.34 billion yen, while reducing its sales target by 4 percent to 15 billion yen. The stock fell 8,200 yen, or 8.6 percent, to 86,900.

Elpida Memory Inc. (6665 JT): Japan's largest maker of computer-memory chips said it has developed technology that can produce 20 percent more DRAM chips from a 300-millimeter wafer. It expects to start commercial production of the smaller memory devices before the end of the year. The stock fell 180 yen, or 10 percent, to 1,548.

Ezaki Glico Co. (2206 JT): The candy maker said it will post a loss of 2.19 billion yen because of a drop in the value of its securities holdings. It is still assessing the impact on its earnings. The stock fell 36 yen, or 3.5 percent, to 999.

Hitachi Ltd. (6501 JT): The company and Renesas Technology Corp. (RENEZ JP) won't have to pay an $86.5 million damage award after the U.S. Supreme Court declined to review a case from a company that sought to enforce a semiconductor patent. The justices let stand a federal appeals court ruling invalidating the patent, owned by closely held Translogic Technology Inc. Hitachi declined 33 yen, or 4.8 percent, to 656.

Honeys Co. (2792 JT): The apparel maker said its first- quarter profit reached 427 million yen, 59 percent lower than a 1.04 billion yen profit a year earlier. Sales grew 5 percent to 15.1 billion yen. The stock rose 22 yen, or 3.6 percent, to 627.

Ihara Chemical Industry Co. (4989 JT): The organic chemical products maker doubled its full-year profit outlook to 600 million yen and increased its sales forecast 11 percent to 25 billion yen. It cited higher overseas sales of agricultural intermediate. The stock fell 7 yen, or 2.5 percent, to 272.

Kajima Corp. (1812 JT): The general contractor plans to book a 1.7 billion yen in charge in the first-half from a drop in the value of stock it holds. The company is assessing the impact on its earnings forecast, Kajima said in a release. Kajima lost 15 yen, or 5 percent, to 286.

Kappa Create Co. (7421 JT): The revolving sushi restaurant chain boosted its net income forecast for the year ending Feb. 28 by 17 percent to 2.11 billion yen, and sales outlook by 3.6 percent to 77.9 billion yen, citing profit from a consolidated unit. The company also said it will increase its planned annual dividend of 20 yen to 35 yen. The stock rose 100 yen, or 5 percent, to 2,105.

Keiyo Bank Ltd. (8544 JT): The regional bank lowered its full-year profit forecast 33 percent to 10 billion yen, as it post reserves for loan losses. The profit will be 27 percent lower than the 13.7 billion yen profit a year ago. The stock fell 14 yen, or 2.8 percent, to 495.

Kiyo Holdings Inc. (8415 JT): The bank holding company reduced its full-year profit forecast 36 percent to 8.6 billion yen, as a unit Kiyo Bank Ltd. (8370 JP) will write off a claim. The stock fell 3 yen, or 2 percent, to 148.

Kohnan Shoji Co. (7516 JT): The home-improvement center chain said it will post a charge of 790 million yen for reserves to close stores. It cut its full-year profit outlook 11 percent to 4.1 billion yen because of the loss as well as projected exchange losses. The stock fell 89 yen, or 6.1 percent, to 1,371.

Mars Engineering Corp. (6419 JT): The electronic device maker's first-half profit amounted to 1.66 billion yen, beating the target of 1.4 billion yen by 18 percent, helped by more- than-expected sales of prepaid card systems for pachinko parlors, it said in a preliminary earnings statement. It earned 1.43 billion yen a year earlier. The company will also increase its first-half dividend of 20 yen to 25 yen. The stock fell 70 yen, or 3 percent, to 2,270.

Matsumoto Yushi-Seiyaku Co. (4365 JQ): The maker of surfactants for the textile industry said it will spend as much as 1.65 billion yen to buy back up to 9.84 percent of its outstanding shares on Oct. 7. The stock fell 90 yen, or 5.8 percent, to 1,460.

Mediscience Planning Inc. (2182 JX): The company which provides consultation and overseas clinical testing for pharmaceutical companies will start trading on the Osaka Securities Exchange's Hercules market. The initial offering price is set at 1,100 yen.

Mitsui Mining & Smelting Co. (5706 JT): The co-owner of Japan's biggest copper smelter forecast a second year of profit declines on falling metal prices and higher energy costs. Net income will probably fall 36 percent to 5 billion yen for the 12 months ending March 31, 2009, from 7.8 billion yen a year earlier. The company said on April 28 it expected to report a profit gain to 12 billion yen. Mitsui Mining also cut its planned dividend payment to 8 yen a share from 12 yen for the fiscal year. The stock fell 12 yen, or 5.4 percent, to 211.

Nippon Telegraph & Telephone Corp. (9432 JT): Japan's largest fixed-line phone operator will pay $30 million to settle a Texas lawsuit over a technology related to lithium rechargeable-batteries, according to a statement on its Web site. NTT will hold ownership of the patents in the case, and grant The University of Texas and Hydro-Quebec exclusive license to use the patents. The stock fell 24,000 yen, or 4.9 percent, to 467,000.

Renown Inc. (3606 JT): The apparelmaker will sell its stake in Aquascutum Group Plc (ADPZ JP) by February as part of a restructuring effort, Nikkei English News said. Renown plunged 32 yen, or 14 percent, to 205.

Ringer Hut Co. (8200 JT): The noodle restaurant chain said it will have a 1.5 billion yen net loss for the year ending Feb. 28, widening its earlier forecast of 477 million yen loss. It cited charges from shop closures. It had a 1.3 billion yen net loss in the six months ended Aug. 31. The stock fell 20 yen, or 2 percent, to 985.

Sharp Corp. (6753 JT): Japan's biggest mobile-phone maker lowered its full-year profit forecast by 43 percent to 60 billion yen, citing a decline in mobile-phone sales. Profit will be 41 percent lower than a year earlier. Sales will be almost unchanged at 3.42 trillion yen, missing an earlier projection of 3.6 trillion yen. The stock fell 57 yen, or 5.4 percent, to 1,003.

Shionogi & Co. (4507 JT): The Japanese maker of the Crestor cholesterol pill said it has completed its offer to take control of U.S. firm Sciele Pharma Inc. (SCRX US). Shionogi paid $31 for each share to acquire 85.44 percent of the company. The stock fell 35 yen, or 1.5 percent, to 2,320.

Toho Bank Ltd. (8346 JT): The regional bank slashed its net income outlook for the year ending March 31 by 66 percent to 2.1 billion yen, citing charges from bonds issued by Lehman Brothers Holdings Inc. (LEHMQ US) as well as devalued stock holdings. The stock fell 15 yen, or 3.7 percent, to 394.

Universal Home Inc. (4731 JQ): The housing consultancy slashed its full-year profit outlook 62 percent to 10 million yen, citing weak consumer spending and an expected decline in housing starts. Separately, UH Holdings offered to pay 125,000 yen for each Universal Home share in a buyout offer through Nov. 19. The stock fell 2,000 yen, or 3.3 percent, to 58,000.

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