PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Toyota (7203 JT) halted work lines at four plants until Thursday due to Toyota Industries (6201 JT) engine issue

JAPAN

Aeon Delight (9787 JT) - Co. 9-month (JPY) net 7.6bln (prev. 7.1bln Y/Y), rev. 242bln (prev. 226.8bln Y/Y). (Newswires)

Benesse Holdings (9783 JT) - Co. is to go private after management buyout with Bloom1 to spend JPY 208bln for tender offer at JPY 2,600/shr. (Newswires)

Canon Electronics (7739 HK) - Co. FY23 (JPY) net 6.6bln (prev. 6.9bln Y/Y), rev. 96.3bln (prev. 96.5bln Y/Y). (Newswires)

Daikin Industries (6367 JT) - Co. is to automate most of the assembly process for air conditioners as soon as 2027, halving staffing needs. (Nikkei)

Honda Motor (7267 JT) - Co. is to temporarily reduce production at the Suzuka and Honda auto body plants in Mie due to parts supply disruption following the Noto earthquake, Co. is to reduce its China employee headcount. (Newswires/Nikkei)

Japan Aviation Electronics Industry (6807 JT) - Co. 9-month net 10.8bln (prev. 13.4bln Y/Y), rev. 171.4bln (prev. 183.8bln Y/Y), Co. is to offer JPY 2,605/shr in a buyback of up to 27.95% of shares worth JPY 67.2bln. (Newswires)

Nissan Motor (7201 JT) - Co. will manufacture lithium-ion batteries with lower-cost materials with plans to install them in EVs sold in emerging markets as soon as 2026. (Nikkei)

Sumitomo Chemical Company (4005 JT) - Co. is to cut LCD polariser output by around 30%. (Newswires)

Takeda (4502 JT) - Co. received EU approval for HYQVIA co-formulated with ENHANZE as maintenance therapy for chronic inflammatory demyelinating polyneuropathy. (Newswires)

Toyota (7203 JT) - Co. issued a 'do not drive' advisory urging owners of 50k older Corolla and RAV4 vehicles to get immediate repairs for potential air bag inflator defects, while Co. halted work lines at four plants until Thursday due to Toyota Industries (6201 JT) engine issue. (Newswires)

Tsuruha Holdings (3391 JT) - Aeon Co (8267 JT) is said to be in talks to buy an additional stake in Tsuruha from Oasis. (Newswires)

SOUTH KOREA

Daewoong Pharmaceutical (069620 KS) - Co.’s Bersiporocin received orphan drug designation in Europe to treat pulmonary fibrosis. (Newswires)

Hyosung TNC Corp (298020 KS) - Co. FY23 (KRW) net rose 414.5% Y/Y to 98.7bln, rev. fell 15.3% Y/Y to 7.52tln. (Yonhap)

Other News - US Chamber of Commerce expressed concerns over South Korea's proposed regulations aimed at preventing unfair market activities by major online platform businesses. (Newswires)

29 Jan 2024 - 23:45- Research Sheet- Source: Newswires