PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: SoftBank's (9984 JT) domestic AI venture has drawn interest from more than 30 potential investors

AUSTRALIA

BHP Group (BHP AT) - Co.’s Pilbara iron ore head conceded its decarbonisation plan is taking longer than expected, while the Co. entered into MOU with Yinjibarndi Energy Corp related to exploration of large-scale energy solutions for Pilbara. (Newswires/AFR)

Commonwealth Bank of Australia (CBA AT) - Co. and KKR’s AUD 5bln-plus Colonial First State have reportedly attracted renewed interest from Mercer. (The Australian)

IPH (IPH AT) - Co. named Tony O'Malley as Managing Director and CEO, effective July 1. (Dow Jones Newswires)

Select Harvests (SHV AT) - Co. H1 (AUD) net 26.6mln, underlying EBIT 45.4mln (prev. 35.8mln Y/Y), rev. 59.0mln (prev. 104.5mln Y/Y), and announced a stock buyback for up to 10% of shares outstanding.

TPG Telecom (TPG AT) - Co.’s CEO warned further mobile plan price hikes are inevitable. (AFR)

Yancoal Australia (YAL AT) - Co. affirmed its FY production, cash operating costs and CAPEX guidance. (Newswires)

Broker Ratings/Price Target

Eagers Automotive (APE AT) Price target cut 12% to AUD 27.10/shr by Macquarie

Endeavour Group (EDV AT) Price target cut 18% to AUD 2.80/shr by Macquarie

GenusPlus Group (GNP AT) Price target raised 14% to AUD 12.00/shr by Macquarie

Nufarm (NUF AT) Price target raised 11% to AUD 3.00/shr by Macquarie

Other News

Australia's APRA maintained its current macroprudential policy setting following a review. (Newswires)

JAPAN

Denso (6902 JT) - Co. plans to increase R&D spending to cut its reliance on rare earths, while Aisin and other Toyota suppliers are looking at USD 7bln in spending, including expanded investment in India. (Nikkei)

Panasonic Holdings (6752 JT) - Co. is targeting sports arenas to drive growth in its lighting business, while also looking to India for expansion. (Nikkei)

SoftBank Group (9984 JT) - Co.’s domestic AI venture has drawn interest from more than 30 potential investors, including Asahi Kasei, Fujitsu and Yaskawa Electric, while SoftBank was said to offer USD 300mln block of Symbotic shares. (Newswires/Nikkei)

Sojitz (2768 JT) - Co. is turning to public-private investments in Australia and Uzbekistan as it seeks to improve its investment track record. (Nikkei)

Sony Group (6758 JT) - Co. expanded its home entertainment lineup with new BRAVIA TVs and an audio system. (Newswires)

Toyota Motor (7203 JT) - Co. recalled 82k US vehicles over an instrument display software issue. (Newswires)

SOUTH KOREA

Kakao Corp. (035720 KS) - Co.’s labour union and management failed to reach an agreement in a second round of mediation with the Gyeonggi Regional Labor Relations Commission. (Yonhap)

Woori Financial Group (316140 KS) - Co. was ordered by the FSS to revise its stock swap filing amid valuation concerns. (ChosunBiz)

Other News

South Korean Foreign Ministry said anti-ship missiles developed and used by Iran are believed to have been used in an attack against a South Korean vessel in the Strait of Hormuz earlier this month. (Yonhap)