Toho +4.0%, But Won't Be Spirited Up

More.. Monday March 24, 12:09 PM

1309 [Nikkei/Dow Jones] No extra lift for movie producer-distributor Toho (9602) on Oscar for animated feature "Spirited Away"; company only distributed film, and was not on production team, so doesn't benefit from videos, TV airings, says player. Issue up 4.0% at Y1,119, edging down from Y1,120 morning high. (FKH)

1301 [Nikkei/Dow Jones] Osaka market up and expected to hold early gains as higher dollar providing solid support to major exporters like Rohm (6963), Nintendo (7974) and Murata Manufacturing (6981). "The strong buying interest from the morning has carried over to afternoon trade," says trader. OSE adjusted average up 2.5% at 13870.85.(JSH)

1255 [Nikkei/Dow Jones] Ishizuka Glass (5204) may start paring early gains after leading maker of glass bottles and tableware says in midday break it now expects Y280 million group net loss for FY through this month, vs previous forecast for Y150 million profit. Company blames evaluation losses on its bank shareholdings. Shares up 1.3% at Y157, just off morning close Y158. (JSH)

1240 [Dow Jones] May Nymex crude may have been oversold on speculation of quick U.S.-led victory in Iraq, says HSBC oil and gas analyst Gordon Kwan; "prices could retest $30 a barrel again this week unless the military operations were extremely smooth going into Baghdad." Deteriorating situation in Nigeria, off-peak production in Venezuela and some lost output in Iraq, Kuwait to help prop up prices. (ILK)

1215 [Dow Jones] Movie producer-distributor Toho (9602) may rise further on news its animated feature "Spirited Away" has won an Oscar; film, which grossed only $5.5 million in U.S., was surprise winner against field of nominees that included $100 million Hollywood hits "Ice Age" and "Lilo & Stitch." Issue up 3.9% at Y1,118 midday. (ABR)

1201 [Dow Jones] "Tsutaya" video and CD rental store operator Culture Convenience Club (4756), or CCC, may not rise much ahead of 16:30 tie-up announcement with Nippon Oil (5001); tie-up may allow CCC's 18 million members to obtain benefits at Nippon Oil's 12,000 "Eneos" gas stations nationwide. Follows similar CCC tie-up with Lawson (2651) earlier this month. CCC shares down 0.8% midday at Y2,975; may be top-heavy as above 25-day average Y2,896. (HIK)