PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Russia further targets Japan Tobacco, SoftBank/ABB reportedly pushing for the robotics deal

Japan Astellas Pharma (4503 JT) - Japanese employee sentenced to three years and six months in prison for espionage in China is reportedly set to be released in mid-December and return to Japan, according to Kyodo citing sources. (Kyodo) Credit Saison (8253 JT) - Co. is to partner with the Asian Development Bank to expand lending to small and medium-sized businesses across Asia, leveraging its experience and lending models in India to develop new earnings streams in other emerging markets. (Nikkei) Japan Tobacco (2914 JT) - Russia's President Putin has transferred three additional local subsidiaries of Japan Tobacco to the temporary management of JSC Industrial Assets. The affected units include a holding company, a tobacco sales and distribution business and an importer of heated-tobacco products. (Bloomberg) SoftBank (9984 JT), ABB (ABBN SW) - Cos are reportedly exploring a carve-out of ABB Robotics' Chinese business to salvage their robotics deal blocked by Beijing, with SoftBank leading discussions on separating the Chinese operations, according to Bloomberg citing sources. In other news, Elon Musk said SoftBank (9984 JT) is defaulting on its turbine orders. (Bloomberg/X) Other News: BoJ Governor Ueda said Japan's underlying inflation is around 2%, with wage growth consistent with the target, although 2% inflation has yet to become a firmly established social norm. He expects headline CPI, currently around 3%, to rise further into early 2027 amid energy price pressures, while underlying inflation should remain near 2%, with some upside risks. He noted uncertainty over the sustainability of the wage-inflation equilibrium and the extent of future domestic investment. He said unconventional monetary policy tools may be needed again in response to severe shocks, although they are imperfect substitutes for conventional rate cuts. He added that AI is providing a positive demand shock and could help address Japan's labour shortages. South Korea HD Hyundai Heavy Industries (329180 KS) - Senior US Navy and Marine Corps officials reportedly visited the company's South Korean shipyard to assess its naval shipbuilding capabilities, according to Yonhap. (Yonhap) Kangwon Land (035250 KS) - Co. Q3 (KRW) net loss 3.6bln (prev. profit of 113.1bln Y/Y), operating profit fell 17.9% Y/Y to 59.7bln and revenue fell 3.8% Y/Y to 369.5bln. (Yonhap) LIG Defense & Aerospace - Co. Q3 (KRW) net loss 8.2bln (prev. profit of 54.2bln Y/Y), operating profit fell 24.6% Y/Y to 67.6bln and revenue rose 2.1% Y/Y to 1.07tln. Order backlog stood at 24.5tln at end-September. Earnings were weighed by a one-off charge of c. 22bln related to production capacity expansion and adverse FX movements, while revenue growth was supported by Cheongung-II missile system deliveries to the UAE and Saudi Arabia. (Yonhap) Lotte Chemical (011170 KS) - Co. Q3 (KRW) net loss 289.8bln (prev. loss Y/Y), operating loss 281.4bln (prev. loss of 132.6bln Y/Y) and revenue rose 12.7% Y/Y to 5.39tln. (Yonhap) Nvidia (NVDA), Naver (035420 KS) - Nvidia completes a KRW 1.3tln investment in Naver, acquiring a 4.13% stake through a third-party share offering involving the issuance of over 6.5mln new shares, according to a regulatory filing. (Yonhap) Samsung Biologics (207940 KS) - Unionised workers began a three-week partial strike on November 6 over demands for higher wages and HR policy reforms, with c. 400 employees, representing around 10% of union members, participating in the industrial action scheduled to run until November 27. (Yonhap) Samyang Foods (003230 KS) - Co. Q3 (KRW) net profit fell 18.9% Y/Y to 89.2bln (exp. 135.4bln), operating profit rose 49.9% Y/Y to 196.2bln and revenue rose 25.3% Y/Y to 791.8bln. (Yonhap)