PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Honda Motor (7267 JT) plans to invest USD 3bln in a new automotive plant in central Ohio to meet growing North American hybrid vehicle demand
ORIGINAL · NewsquawkPRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Honda Motor (7267 JT) plans to invest USD 3bln in a new automotive plant in central Ohio to meet growing North American hybrid vehicle demandRead originalHide original
JAPAN ANA Holdings (9202 JT) - Co. and Vietnam Airlines are to strengthen their existing partnership through a revenue-sharing agreement on routes between Japan and Vietnam, aiming to improve operational efficiency and capitalise on growing travel demand in Asia. (Nikkei) Honda Motor (7267 JT) - Co. plans to invest USD 3bln in a new automotive plant in central Ohio to meet growing North American hybrid vehicle demand, creating over 2,000 jobs and adding annual production capacity of 240k vehicles from 2029, bringing total US production capacity to approximately 1.3mln vehicles annually. (Dow Jones Newsplus) Mitsui Chemicals (4183 JT) - Co. is to acquire semiconductor materials maker JSR from state-backed Japan Investment Corp. for USD 11.6bln, in one of Japan's largest chemical-sector acquisitions, strengthening its position in the semiconductor materials industry. (Nikkei) Towa Pharmaceutical (4553 JT) - Co. plans to begin exporting Japan-made generic injectable drugs to the US as early as 2028, leveraging its quality control capabilities and existing US sales network as it shifts towards higher-value pharmaceutical products. (Nikkei) Toyota Motor (7203 JT) - Co. is reportedly preparing to relaunch its US-manufactured Camry in Japan as early as November, targeting annual domestic sales of 10k vehicles after discontinuing the model locally in 2023. (Nikkei) Property Rents for existing offices in Tokyo rose 20%, the sharpest increase in 35 years, as competition for talent and return-to-office trends drive demand for well-equipped offices in prime locations. (Nikkei) Steel Japanese steel exports fell 4% Y/Y in the six months through September to their lowest first-half level since 1997 amid growing global protectionism and widening antidumping investigations, raising concerns over domestic oversupply. (Nikkei) Other News Japan and Vietnam signed agreements to deepen cooperation in energy, artificial intelligence and other sectors, including plans to cooperate on introducing small modular nuclear reactors in Vietnam as early as 2040, amid growing Vietnamese electricity demand. (Nikkei) SOUTH KOREA Hanssem (009240 KS) - Co. Q3 (KRW) net profit 3.8bln (prev. loss 54mln Y/Y), operating profit fell 76.5% Y/Y to 1.6bln, rev. fell 19% Y/Y to 357.6bln. (Yonhap) KEPCO Engineering & Construction (052690 KS) - Co. Q3 (KRW) net loss 1bln (prev. profit 11.3bln Y/Y), operating profit fell 32.2% Y/Y to 10.8bln, rev. rose 22.2% Y/Y to 144.6bln. (Yonhap) KEPCO KPS (051600 KS) - Co. Q3 (KRW) net profit fell 86.5% Y/Y to 5.7bln, operating profit 11.7bln (prev. 47.4bln Y/Y; 74.2% below exp.), rev. fell 16.1% Y/Y to 330.5bln. (Yonhap) Samsung Electronics (005930 KS) - Co. hosted a large-scale networking event with Hyundai Motor Group executives to strengthen business ties and expand cooperation beyond automotive components into robotics, energy and physical AI. (Yonhap) Samsung Fire & Marine Insurance (000810 KS) - Co. is to acquire an additional 40.6% stake in Canopius alongside KKR and KIC for approximately USD 1.7bln, increasing its ownership to 80.6%. (Newswires) SK Chemicals (285130 KS) - Co. Q3 (KRW) net profit rose 31.1% Y/Y to 62.8bln, operating profit 33.6bln (prev. 15.6bln Y/Y), rev. rose 21.5% Y/Y to 740.8bln. (Yonhap)
Honda's planned Ohio plant is the roundup's lead item. Other reported developments include Japanese corporate and trade news and mixed South Korean Q3 results.
News detail
JAPAN ANA Holdings (9202 JT) - Co. and Vietnam Airlines are to strengthen their existing partnership through a revenue-sharing agreement on routes between Japan and Vietnam, aiming to improve operational efficiency and capitalise on growing travel demand in Asia. (Nikkei) Honda Motor (7267 JT) - Co. plans to invest USD 3bln in a new automotive plant in central Ohio to meet growing North American hybrid vehicle demand, creating over 2,000 jobs and adding annual production capacity of 240k vehicles from 2029, bringing total US production capacity to approximately 1.3mln vehicles annually. (Dow Jones Newsplus) Mitsui Chemicals (4183 JT) - Co. is to acquire semiconductor materials maker JSR from state-backed Japan Investment Corp. for USD 11.6bln, in one of Japan's largest chemical-sector acquisitions, strengthening its position in the semiconductor materials industry. (Nikkei) Towa Pharmaceutical (4553 JT) - Co. plans to begin exporting Japan-made generic injectable drugs to the US as early as 2028, leveraging its quality control capabilities and existing US sales network as it shifts towards higher-value pharmaceutical products. (Nikkei) Toyota Motor (7203 JT) - Co. is reportedly preparing to relaunch its US-manufactured Camry in Japan as early as November, targeting annual domestic sales of 10k vehicles after discontinuing the model locally in 2023. (Nikkei) Property Rents for existing offices in Tokyo rose 20%, the sharpest increase in 35 years, as competition for talent and return-to-office trends drive demand for well-equipped offices in prime locations. (Nikkei) Steel Japanese steel exports fell 4% Y/Y in the six months through September to their lowest first-half level since 1997 amid growing global protectionism and widening antidumping investigations, raising concerns over domestic oversupply. (Nikkei) Other News Japan and Vietnam signed agreements to deepen cooperation in energy, artificial intelligence and other sectors, including plans to cooperate on introducing small modular nuclear reactors in Vietnam as early as 2040, amid growing Vietnamese electricity demand. (Nikkei) SOUTH KOREA Hanssem (009240 KS) - Co. Q3 (KRW) net profit 3.8bln (prev. loss 54mln Y/Y), operating profit fell 76.5% Y/Y to 1.6bln, rev. fell 19% Y/Y to 357.6bln. (Yonhap) KEPCO Engineering & Construction (052690 KS) - Co. Q3 (KRW) net loss 1bln (prev. profit 11.3bln Y/Y), operating profit fell 32.2% Y/Y to 10.8bln, rev. rose 22.2% Y/Y to 144.6bln. (Yonhap) KEPCO KPS (051600 KS) - Co. Q3 (KRW) net profit fell 86.5% Y/Y to 5.7bln, operating profit 11.7bln (prev. 47.4bln Y/Y; 74.2% below exp.), rev. fell 16.1% Y/Y to 330.5bln. (Yonhap) Samsung Electronics (005930 KS) - Co. hosted a large-scale networking event with Hyundai Motor Group executives to strengthen business ties and expand cooperation beyond automotive components into robotics, energy and physical AI. (Yonhap) Samsung Fire & Marine Insurance (000810 KS) - Co. is to acquire an additional 40.6% stake in Canopius alongside KKR and KIC for approximately USD 1.7bln, increasing its ownership to 80.6%. (Newswires) SK Chemicals (285130 KS) - Co. Q3 (KRW) net profit rose 31.1% Y/Y to 62.8bln, operating profit 33.6bln (prev. 15.6bln Y/Y), rev. rose 21.5% Y/Y to 740.8bln. (Yonhap)
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