Tag Archives: automaker

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Nissan Shares Fall Along With Quality

Nissan Motor Co Ltd (7201.T)’s shares dropped by 11.6 percent reaching a seven-month low at 850 yen on Tuesday morning with the carmaker reducing its annual net profit outlook as it deals with a slowdown in emerging markets and quality issues.

The stock was the third-most traded on the main board by turnover.

The carmaker decreased its net profit projection for the year ending March 2014 to 355 billion yen ($3.6 billion) from 420 billion yen after the market close on Friday.

Japanese markets were closed for a public holiday on Monday.

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Short-Selling Mitsubishi

Mitsubishi Motors Corp (7211.T)’s strong half-year operating profit has boosted the automaker’s stocks by 13 percent over the past four sessions peaking investors’ interest in short selling the stock.

Mitsubishi’s motors recorded profit ended in September 41 percent higher than previously to 50.8 billion yen ($518 million) after market closed last Thursday, confirming the results on Tuesday after market close.

On Wednesday morning the stock hit a two-month high at 1,161 yen after it rose 2 percent. Since Thursday’s announcement the stock gained 13.4 percent, despite reports that the firm plans to raise around $2 billion in public share offering to repay top shareholders for the 2004 bailout that helped the company perform a decade-long turnaround.

According to data provider Markit, 8.78 percent of Mitsubishi Motors’ outstanding shares were out on loan as of October 28, compared to 8.22 percent at the end of September.

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