PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: South32 (S32 AT) divests aluminium value chain assets to Alcoa (AA) for up to USD 5.6bln

AUSTRALIAN

Ampol (ALD AT) - Co. completed the acquisition of EG Group Australia for gross consideration of around AUD 1.165bln and expects AUD 65mln-80mln of synergies, a high single-digit pro forma EPS increase and a double-digit pro forma free cash flow per share increase. (Dow Jones Newswires)

Aristocrat Leisure (ALL AT) - Co. reaffirmed FY26 profit growth guidance and expects Gaming Operations unit growth at the upper end of its target range. (Dow Jones Newswires)

ASX (ASX AT) - Co. announced an agreement on a revised transformation plan with ASIC and the RBA. (Newswires)

Coles Group (COL AT) - Australia's ACCC opposed the Co.'s proposed acquisition of a supermarket and liquor site in Kalgoorlie, citing concerns it would substantially lessen competition. (Dow Jones Newswires)

Monadelphous Group (MND AT) - Co. secured construction and maintenance contracts worth more than AUD 200mln across the resources and energy sectors, including agreements with Fortescue, Santos and Synergy. (Dow Jones Newswires)

Nine Entertainment (NEC AT) - Co. CEO Matt Stanton is reportedly making a last-ditch attempt to secure exclusive NRL rights while in London. (The Australian)

Orica (ORI AT) - Co. made the final investment decision for the Hunter Valley Hydrogen Hub, with construction to begin in 2026 and total capex of AUD 245mln-283mln net of government funding. (Dow Jones Newswires)

South32 (S32 AT) - Co. appointed Matthew Daley as CEO, effective immediately, divested aluminium value chain assets to Alcoa (AA) for up to USD 5.6bln and expects around USD 125mln in annual overhead cost reductions with an initial return of about USD 500mln via a special dividend. (Newswires)

Vocus Group (VOC AT) - Co. plans a AUD 500mln Melbourne-Sydney fibre superhighway. (AFR)

Broker Ratings/Price Target

• Collins Foods (CKF AT) price target cut 2.3% to AUD 8.60/shr by Macquarie.
• HMC Capital (HMC AT) price target cut 2.7% to AUD 3.60/shr by UBS.

JAPAN

All Nippon Airways (9202 JP) - Co. and Japan Airlines (9201 JP) will raise fuel surcharges on international flights to record highs for the July-August travel season. (Nikkei)

Kyocera (6971 JP) - Co. plans to invest JPY 650bln in its components business, focusing on semiconductor manufacturing equipment and AI data centre-related segments. (Nikkei)

Meiji Yasuda Life Insurance - Co. plans to more than double its FY26 purchases of Japanese government bonds to over JPY 2tln. (Nikkei)

SoftBank (9434 JP) - Co., alongside Honda Motor (7267 JP), NEC (6701 JP) and Sony Group (6758 JP), is part of a consortium set to receive up to JPY 1tln in Japanese government support to develop a domestic AI foundation model. (Nikkei)

Toyota Motor (7203 JP) - Co. agreed to establish a joint venture with Joby Aviation to commercialise flying cars. (Nikkei)

Other News

• China's chip material manufacturers are expanding production of advanced products to challenge Japanese rivals in the USD 73bln semiconductor materials market. (Nikkei)
• Nomura Securities estimates Japanese companies will receive JPY 400bln-500bln in refunds for some US tariffs, boosting net profits. (Nikkei)
• Japan, the UK and Italy will extend their joint next-generation fighter jet development contract through the end of 2027. (Nikkei)

SOUTH KOREA

Other News

South Korea was allocated a 2.07mln-ton quota under the EU's new steel import safeguard measures, down around 20% from the previous level but a smaller reduction than the overall cut. (Yonhap)