Tuesday April 3, 1:49 PM
Japan Hot Stocks-Tokyo Star, Universal Studios, Posful
TOKYO, April 3 (Reuters) - The following stocks are on the
move on Tuesday:
**TOKYO STAR UP, SOURCES SAY LONE STAR TO SELL STAKE**
Shares of Tokyo Star Bank Ltd. jump after sources told
Reuters that U.S. private equity group Lone Star [LS.UL] is
auctioning off its roughly $1.4 billion stake in the Japanese
lender. [ID:nTKB002689]
Soon after the news the Tokyo Stock Exchange halted trading
in the stock.
Shares of Tokyo Star were up 1.6 percent at 375,000 by the
time trade was halted. Shares in the bank had been little changed
before the news, up just 0.5 percent.
0542 GMT
**UNIVERSAL STUDIOS UP ON RECORD VISITORS**
Shares of Universal Studios Japan jump 6.4 percent to 56,400
yen after the theme park said it saw a record 2.1 million
visitors during the three months to March, helped by the
popularity of its new "Hollywood Dream" attraction.
For the financial year just ended attendance hit 8.7 million,
up 4.6 percent from the previous year, the company said.
0520 GMT
**POSFUL UP AFTER AEON SAYS TO RAISE STAKE**
Posful Corp. jumps 5.8 percent to 460 yen after top-ranked
store operator Aeon Co. said it would raise its stake in Posful
and transfer its operations on the northern island of Hokkaido to
the regional retailer to boost operational efficiency. [nT200426]
Aeon will raise its voting rights in Posful to 53.1 percent
from 34.2 percent this month by buying 8.7 million shares in
Posful via a third-party share allocation for 4 billion yen. Aeon
shares are down 1.1 percent at 2,310 yen.
0200 GMT
**NISHIMATSUYA UP AFTER 06/07 PROFIT HITS RECORD HIGH**
Nishimatsuya Chain Co. Ltd. jumps 7.8 percent to 2,135 yen
after the company said its parent recurring profit grew 13.4
percent in the year ended Feb. 20 to 11.4 billion yen ($97
million), marking a record high for the 12th straight year.
The operator of children's wear and sundries shops attributed
the growth to strong sales of its private-brand goods, as well as
reduced purchasing costs.
Following the earnings report, Mizuho Securities raised its
rating on the stock to "2" from "3" and set its target share
price at 2,360 yen.
0200 GMT
**BRIDGESTONE UP AS IT HIKES U.S. TYRE PRICES**
Bridgestone Corp. gains 4.5 percent to 2,440 yen as its U.S.
unit, Bridgestone Firestone North American Tire, LLC (BFNT),
announced price increases on tyres. The BFNT said the increases
-- generally up to 5 percent on passenger and light truck, truck,
bus and agricultural and off-the-road tyres -- will affect the
replacement, original equipment and export channels. The price
increases are scheduled to begin being phased in from May 1.
0200 GMT
**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
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