Monday April 9, 12:23 PM
Japan Hot Stocks-Mitsubishi Heavy, Toyama Chemical, Daiwabo, ANA
TOKYO, April 9 (Reuters) - The following stocks are on the
move on Monday:
**MITSUBISHI HEAVY UP ON REPORT TO BOOST ENERGY OPS**
Shares of Mitsubishi Heavy Industries Ltd. up 3 percent at
764 yen after the Nikkei business daily reported that the company
would aim to boost sales in its power systems business by about
40 percent to 1 trillion yen in three to four years.
The newspaper said on Saturday Mitsubishi Heavy would do this
by boosting its renewable energy products including wind turbines
and solar-cell panels.
0420 GMT
**TOYAMA CHEMICAL UP AFTER ASIA MINISTERS MEET OVER BIRD FLU**
Toyama Chemical Co. Ltd. gains 3.6 percent to 807
yen after the health ministers of Japan, China and South Korea
agreed at a meeting on Sunday to strengthen their cooperation in
quarantine and treatment of bird flu.
Toyama is developing a drug to combat bird flu. Shares of
textiles company Daiwabo Co. Ltd. jump 11.3 percent to
346 yen on expectations for better sales of textiles used to
protect against the disease, such as masks.
0200 GMT
**ANA UP, PLANS TIE-UP WITH REGIONAL AIRLINE**
All Nippon Airways Co. rises 1.1 percent to 469 yen. The
airline said on Monday it plans to form a business alliance with
regional airline Star Flyer Inc. to expand its domestic flight
network to Kitakyushu, southwestern Japan.
They plan to enter a code-sharing agreement around June to
fly between Tokyo's Haneda airport and Kitakyushu, a route ANA
currently does not operate. ANA spokesman Atsushi Asano said the
two companies are not considering a capital alliance.
0129 GMT
**FUJI ELECTRONICS UP AFTER EARNINGS REPORT**
Fuji Electronics Co. Ltd. gains 3.5 percent to 1,800 yen
after the wholesaler of semiconductors reported 16 percent profit
growth in the year ended Feb. 28, citing strong sales of IC chips
for information and communications equipment.
Fuji's group sales rose 16.1 percent year-on-year to 46.39
billion yen, while its operating profit jumped 22.1 percent to
3.27 billion. The company expects its group net profit to grow
14.6 percent to 2.36 billion yen in the current business year,
following a 16.1 percent gain in the previous year.
0126 GMT
**TOC LIMIT-UP AFTER ANNOUNCING MANAGEMENT BUYOUT**
TOC Co. rises by the daily price limit of 100 yen or 13.0
percent to 869 yen, becoming the second biggest percentage gainer
in the Tokyo exchange's first section, after the company said on
Friday it plans to go private through a management buyout.
A fund controlled by TOC President Takuo Otani will offer 800
yen per share, aiming to acquire up to 100 percent of the
building leasing firm.
0100 GMT
**ISUZU MOTORS RISES ON PLAN FOR US TRUCK PLANT**
Isuzu Motors rises 1.4 percent to 634 yen after the company
said it has bought land for a U.S. truck plant in Alabama,
pushing ahead with plans to reestablish a production base in the
world's biggest vehicle market. [ID:nT285952]
0055 GMT
**YAMAHA CORP GAINS AFTER MID-TERM PLAN**
Yamaha Corp., a maker of musical instruments, gains 3.6
percent to 2,880 yen after it announced a 3-year business plan on
Friday under which it would aim for an annual operating profit of
45 billion yen ($377 million) and return on equity (ROE) of 10
percent by the fiscal year to March 2010. That compared with its
expected operating profit of 26 billion yen and an estimated ROE
of 9.2 percent for the year ended last month.
The company also said it would beef up marketing in emerging
markets such as China and Russia.
0035 GMT
**KDDI UP ON U.S. PLAN, SUBSCRIBER DATA**
KDDI Corp. rises 2.5 percent to 1 million yen after the
second-biggest mobile phone operator in Japan said on Sunday it
aims to offer a mobile phone service in the United States using a
network operated by Sprint Nextel Corp. . [ID:nT217561]
Separately, data from Japan's top mobile operators showed
that KDDI added the most mobile phone users in Japan in March and
in the business year 2006/07, beating rivals NTT DoCoMo and
Softbank Corp. . [ID:nT262078]
0032 GMT
****HOYA DOWN AFTER PENTAX PRESIDENT SAID TO RESIGN****
Shares in high-tech glass maker Hoya Corp down 0.24
percent at 4,090 yen after Pentax President Fumio Urano told
reporters on Monday that he was set to resign from his current
position, clouding the outlook of Hoya's tender offer for the
camera maker.
The board of Pentax will decide on its response to the offer
at a meeting on Tuesday, Urano said.
Hoya said on Friday it planned to make a tender offer for
Pentax Corp. , instead of using a share swap, to appease
shareholders unhappy about the merger ratio.
Pentax stock was untraded with a glut of buy orders at 763
yen, up 4 percent.
0013GMT
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