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Tuesday April 3, 9:20 AMJapan Hot Stocks-Sanyo Shinpan, Isuzu Motors, Nitori, MitsuiTOKYO, April 3 (Reuters) - The following stocks are on the move on Tuesday: **SANYO SHINPAN DOWN AFTER CUTTING EARNINGS ESTIMATE**Sanyo Shinpan Finance Co. Ltd. falls 5.3 percent to 2,775 yen after the company cut its earnings estimate for the year ended March 31, as it raised reserves against repayments of interest charges deemed by courts to be illegally high. The consumer financing company now estimates its group net loss at 80.1 billion yen ($679.7 million), more than double its earlier projection of a 38.5 billion yen loss. 0112 GMT **ISUZU MOTORS UP AFTER HSBC UPGRADES** Isuzu Motors Ltd. advances 3.6 percent to 599 yen after HSBC Securities Japan Ltd. said in a report on Tuesday that it raised the rating on the stock to "overweight" from "neutral", saying the company's new management team improves its prospects. "The company is installing a new management team that is more streamlined than the old one, and more geared to expanding business overseas and with Toyota" Motor Corp. , the brokerage firm said. 0054 GMT **NITORI UP AFTER POSTING STRONG EARNINGS** Nitori Co. Ltd. climbs 3.7 percent to 5,900 yen after the operator of furniture and interior goods stores posted a 23.1 percent rise to 13.43 billion yen in group net profit for the year to February. The company said it has benefitted from effective advertising, streamlined distribution systems and overseas production. 0048 GMT **MITSUI UP AFTER WINNING SAUDI ARABIA PROJECT ORDER** Mitsui & Co., Japan's second-biggest trading house, gains 2.1 percent to 2,150 yen after the company said it won a 90 billion yen ($764 million) order together with a group of companies for a railway construction project in Saudi Arabia. [ID:nT202162] Mitsui said it is teaming up with Al Rashid Trading & Contracting Co. of Saudi Arabia and Australia's Barclay Mowlem to build an 818-km (508-mile) portion of the North-South Railway, which is being built to move mineral traffic from Saudi Arabia's interior to an industrial complex to be built on the Gulf coast. 0025 GMT (For IPO news, data and diary, click) |
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