PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Earnings including FujiFilm, Mitsubishi Estate and Sumco

JAPAN

FujiFilm (4901 JT)
– Co. H1 net JPY 65.5bln vs. Prev. JPY 70.9bln Y/Y, oper. profit INR 83.9B vs. Prev. JPY 72.3bln Y/Y, affirms FY net and oper profit guidance, but cuts rev. guidance to JPY 2.47tln from JPY 2.51tln. (Newswires)

Isetan Mitsukoshi (3099 JT)
– Co. may spend JPY 71bln on store refurbishments. (Nikkei)

Mitsubishi Estate (8802 JT)
– Co. H1 net JPY 61.8bln vs. Prev. JPY 41.7bln Y/Y. (Newswires)

Nissan (7201 JT)
– Co. was notified by the Tokyo Regional Taxation Bureau it failed to declare JPY 20bln of income. (Nikkei)

Sumco (34896 JT)
– Co. 9-month net JPY 42.7bln vs. Prev. JPY 16.6bln Y/Y. (Newswires)

Suruga Bank (8358 JT)
– Co. is expected to post a net loss of around JPY 90bln for H1. (Nikkei)

Toshiba (6502 JT)
– Co. will release a new 5yr management plan in which it is said to target JPY 200bln in cost reduction over approaching 3 years and will liquidate its NuGeneration nuclear business in UK. (Nikkei)

Other News
– Japan’s parliament approved extra budget of JPY 936bln as expected. (Newswires)
– Japanese GDP in September likely contracted by 0.9%, according to JCER. (Nikkei)

SOUTH KOREA

Kakao (035720 KS)
– Co. Q3 net KRW 16.7bln vs. Exp. KRW 27.0bln. (Newswires)

Samsung Electronics (005930 KS)
– Co. plans to invest USD 22bln and hire 1000 workers for AI development by 2020. (Newswires)
– Co. is to begin mass production of its foldable phone in the approaching months. (Nikkei

Woori Bank (000030 KS)
– Co. receives approval to shift into a holding Co. (Yonhap)

(Newswires)