News Headline Summary

PRE-MARKET JAPANESE STOCK NEWS: Highlights include: Panasonic (6752 JT) is to sell its business services unit which has annual sales of around JPY 20bln

Bank of Yokohama (8332 JT)/Sumitomo Mitsui Trust (8309 JT)
- Co.s are planning an asset management venture. (BBG)

KDDI (9433 JT)
- Co. is to invest JPY 28bln in two new data centres in Tokyo and Osaka. (BBG)

Mitsubishi Heavy (7011 JT)
- Japan Airlines has ordered 32 jets from the co., pushing orders over the minimum level of 400 needed for profitability. (Nikkei)

Natoco (4627 JT)
- Co. has cut its FY net income forecast by 35% to JPY 720mln and has reduced its sales target by 10% to JPY 14bln. (BBG)

Nissan (7201 JT)
- AvtoVAZ, which is controlled by Nissan and Renault, plans to break even after cutting its workforce. (BBG)
- While co. partner Renault is also in talks with Russia on state support for the auto market. (BBG)

Olympus (7733 JT)
- Co. is to join forces with surgical experts from Japan and large hospitals abroad to promote the use of its gastrointestinal endoscopy systems in Asia. (Nikkei)

Panasonic (6752 JT)
- Co. is to sell its business services unit which has annual sales of around JPY 20bln. (Nikkei)

Renesas (6723 JT)
- Co. said that 361 workers have applied for buyouts and will book around a JPY 2.1bln charge in Q2. (BBG)

Softbank (9984 JT)
- Alibaba’s profit tripled in Q1 as advertisers boosted spending ahead of its IPO. (BBG) Of note, Softbank has a 34% stake in Alibaba.

Takeda (4502 JT)
- Co. expects 20% annual growth across FY15-FY17. (Nikkei)

Broker Moves

Okabe (5959 JT) cut to neutral from neutral plus at Iwai Cosmo; Price Target JPY 1,250.
Seikagaku (4548 JT) rated outperform at Mitsubishi UFJ Morgan Stanley; Price Target JPY 4,000.
Toyo Tanso (5310 JT) cut to neutral at Credit Suisse; Price Target 2,500.
Yamaha Motor (7272 JT) cut to hold at Deutsche Bank.

Print 23:35, 27 Aug 2014 - Asian News - Source: BBG/Nikkei