PRE-MARKET AUSTRALIAN AND JAPANESE STOCKS NEWS: Earnings deluge including from Asahi Group, Sharp, Sony & Rakuten

AUSTRALIA

Australian Agricultural Company (AAC AT) - Co. FY (AUD) net loss 94.6mln (prev. profit 4.6mln Y/Y), meat sales revenue 268.7mln (prev. 245.0mln Y/Y). (Newswires)

Boral (BLD AT) - Seven Group Holdings (SVW AT) raised voting power in Boral to 93.10% from 91.19%, according to an exchange filing. (Newswires)

CSR (CSR AT) - Co. FY (AUD) adj. net rose 7% Y/Y to 240.4mln, revenue from ordinary activities was flat Y/Y at 2.63bln. (Newswires)

Lucapa Diamond (LOM AT) - Co. intends to divest its 70% stake in the Mothae diamond mine. (Newswires)

Australian Budget

Australian Budget sees 2023/24 budget surplus at AUD 9.3bln (exp. AUD 9bln) and 2024/25 deficit is seen at AUD 28.3bln (exp. 13.9bln) with deficits seen through to 2026/27 (as expected), while 2023/24 CPI is seen at 3.5%, 2024/25 at 2.75% 2025/26 at 2.75%. (Newswires)

Australian Finance Minister Gallagher said aims to lower CPI in the next year and awaits production for critical mineral tax breaks, while she added that the government is upfront about budget pressures. (Newswires)

JAPAN

Asahi Group (2502 JT) - Co. Q1 (JPY) net rose 19.3% Y/Y to 23.8bln, sees FY24 profit to increase 16.1% Y/Y to 190.5bln. (Newswires)

Asahi Kasei (3407 JT) - Co. is to build a battery component plant in Port Colborne, Ontario with an investment of about USD 1.6bln. (Newswires)

Honda (7267 JT) - Co. moves to cut its China workforce with 1,700 voluntary layoffs as the Co. is scaling down full-time production workforce in China amid a sales slump. Co. is recalling 187.3k US vehicles due to an issue with the rearview camera. (Newswires/Nikkei)

Idemitsu Kosan (5019 JT) - Co. FY23/24 (JPY) net fell 9.9% Y/Y to 228.5bln, sees FY24/25 net to decline 45.3% Y/Y to 125.0bln. (Newswires)

Mitsui E&S (7003 JT) - Co. FY23/24 (JPY) net rose 61.1% Y/Y to 25.1bln, oper. profit rose 109.4% Y/Y to 19.6bln, sees FY24/25 oper. profit to decline 13.4% Y/Y to 17.0bln. (Newswires)

Nitori Holdings (0943 JT) - Co. FY23/24 (JPY) net fell 9% Y/Y to 86.5bln, sees FY24/25 net to increase 6.3% Y/Y to 92.0bln. (Newswires)

Rakuten (4755 JT) - Co. Q1 (JPY) net -42.4bln (prev. -76.2bln Y/Y). (Newswires)

Ricoh (7752 JT) - Co. FY23/24 (JPY) net fell 18.7% Y/Y to 44.2bln, sees FY24/25 net to increase 8.7% Y/Y to 48bln. (Newswires)

Sharp (6753 JT) - Co. FY23/24 (JPY) net -150bln (prev. -260.8bln Y/Y), sees FY24/25 net profit 5bln, Foxconn said the worst is behind for Sharp and that the Co.’s Sakai factory will be actively transformed into an AI data centre. (Newswires)

SMC (6273 JT) - Co. FY23/24 (JPY) net fell 20.6% Y/Y to 178.3bln, sees FY24/25 net to increase 8.8% Y/Y to 194bln. (Newswires)

Sojitz (2768 JT) - Co. and Gingko Bioworks announce plans to use synthetic biology R&D services to accelerate sustainable manufacturing in Japan. (Newswires)

Sony (6758 JT) - Co. FY23/24 (JPY) net profit fell 3.5% Y/Y to JPY 970.5bln, operating profit fell 7.2% Y/Y to 1.21tln, sees FY24/25 net to fall 4.7% Y/Y to 925bln, sees FY24/25 operating profit to rise 5.5% Y/Y to 1.28tln (exp. 1.33tln), Co. plans to conduct a buyback of up to 2.46% of shares worth JPY 250bln and is to conduct a 5-for-1 stock split for shareholders as of September 30th, Co. sees PS5 sales of 18mln units in the current financial year and is reportedly rethinking Paramount (PARA) bid. (Newswires/CNBC)

Sumitomo Mitsui Trust Holdings (8309 JT) - Co. FY23/24 (JPY) net fell 58.5% Y/Y to 79.2bln, sees FY24/25 net to increase 203% Y/Y to 240.0bln. (Newswires)

Toyo Tire (5105 JT) - Co. Q1 (JPY) net rose 111.9% Y/Y to 23.1bln, sees FY24 net to fall 37.7% Y/Y to 45bln. (Newswires)

15 May 2024 - 00:47- EquitiesData- Source: Newswires