PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCKS NEWS: NAB expects a AUD 706mln credit impairment for H1 related to the Iran conflict, Sony is to receive up to JPY 60bln in subsidies to make image sensors

AUSTRALIA

Amplitude Energy (AEL AT) - Co. reported Q3 production of 6.86 petajoules equivalent, achieved record quarterly revenue of AUD 74.1mln, and average realized gas price of AUD 10.74 per gigajoule. (Dow Jones Newsplus)

Monash IVF Group (MVF AT) - Co. rejected a revised AUD 0.90/shr proposal from a Genesis Capital and Soul Pattinson (SOL AT) consortium, said the proposal undervalues the Co., is not in the best interests of shareholders, represents a substantial discount to comparable IVF deals in Australia, highlighted the appointment of Victoria Atkinson as CEO after a period of instability, and remains open to discussions regarding a change-of-control transaction at a higher valuation. (Dow Jones Newsplus)

National Australia Bank (NAB AT) - Co. expects to record a AUD 706mln H1 credit impairment related to the Iran conflict and broader economic impact, and raised its first-half credit provisioning by more than USD 215mln due to potential impacts on Australia's economy and businesses. (Dow Jones Newsplus)

NextDC (NXT AT) - Co. is seeking to raise around AUD 1.5bln in an underwritten entitlement offer, offering new shares at AUD 12.70 each, with pro forma contracted utilization up 60% to 667 MW and pro forma forward order book up 83% to 544 MW in the three months through March. (Dow Jones Newsplus)

Qube Holdings (QUB AT) - Co. expects a FY26 EBITA hit of AUD 10mln-20mln from the Middle East conflict, with factors largely temporary and timing related, driven by higher fuel costs, lower agri volumes, lower forestry exports, and sees the largest earnings impact in its logistics and infrastructure business. (Dow Jones Newsplus)

St Barbara (SBM AT) - Co. forecasts a rise in annual gold output to over 200,000 oz in FY31, is fully funded to meet upcoming capital requirements, said production is underpinned by New Simberi and Nova Scotia projects, sees New Simberi attributable output rising to about 100,000 oz annually, estimates New Simberi life of mine all-in sustaining cost at USD 1,336/oz and 15-Mile processing hub life of mine all-in sustaining cost at USD 1,188/oz, and reported cash and bullion of AUD 504mln at April 2. (Dow Jones Newsplus)

Woodside Energy (WDS AT) - Co. awarded a services contract valued at more than USD 300mln to Green Tug Towing, a joint venture of Harbor Docking & Towing and Saltchuk Marine, for the design and construction of four new tugs to be built at C&C Marine and Repair in Belle Chasse, Louisiana, to be delivered to Louisiana LNG in 2028, bringing total commitments to Louisiana suppliers for the project to more than USD 1bln. (Dow Jones Newsplus)

Worley (WOR AT) - Co. said it has seen no project cancellations as a result of the Middle East conflict to date, some customers are delaying the start and award of new projects, has been asked to support customers with restoration of assets and strategic projects, and expects a FY26 underlying EBITA hit of AUD 30mln-40mln from the conflict. (Dow Jones Newsplus)

Broker Ratings/Price Target

Paladin Energy (PDN AT) Downgraded to Hold from Buy by Jefferies.

JAPAN

Kawasaki Heavy Industries (7012 JT) - Co. is developing an AI-equipped shipbuilding robot aimed at doubling welding productivity and addressing a technician shortage. (Nikkei)

Mitsubishi UFJ Financial Group (8306 JT) - Co. is expanding its strategic business relationship with Finastra to support U.S. ACH payments. (Newswires)

NEC Corporation (6701 JT) - Co. has signed a contract with the Commonwealth of Australia to supply nine types of defense equipment for installation on Royal Australian Navy SEA3000 frigates. (Newswires)

Nippon Express Holdings (9147 JT) - Co. will acquire Metro Supply Chain Group, a North American logistics company, for around JPY 200bln by the end of the year. (Nikkei)

Nissan Motor (7201 JT) - Co. and parts makers have developed electric vehicle motor technology that reduces reliance on rare-earth minerals, cutting usage in the new Leaf EV by more than 90% versus the 2010 model. (Nikkei)

NTT Data Group (9613 JT) - Co. will construct one of Japan's largest data centers near Tokyo to support cloud service providers handling artificial intelligence data processing. (Nikkei)

Seven & i Holdings (3382 JT) - Co. reported marginal operating profit growth for the year to February due to weaker customer traffic. (Newswires)

SoftBank Corp. (9434 JT) - Co. will be the exclusive domestic seller of an AI-powered smartphone developed by U.S. startup Brain Technologies. (Nikkei)

Sony Group (6758 JT) - Co. will receive up to JPY 60bln in Japanese government subsidies to help it expand production and develop customers for semiconductor devices to be used in applications such as smartphones and vehicles. for devices used in smartphones and vehicles, while Co. joint venture with Honda Motor (7267 JT) cancelled plans for a co-developed electric vehicle and is exploring alternative opportunities. (Nikkei/Newswires)

Toyota Industries (6201 JT) - Co. will retire treasury shares representing 7.79% of outstanding stock on June 2. (Newswires)

Japan Petroleum Exploration (1662 JT) - Co. warned of a significant profit decline due to higher LNG procurement costs amid Middle East tensions and said production and exports at Iraq’s Garraf oil field have been suspended following a force majeure declaration. (Newswires)

Other News -  Australia and Japan signed contracts on Saturday to deliver the first three of a AUD 10bln fleet of Japanese-designed warships, with the first due for delivery in three years and with Mitsubishi Heavy Industries to build the first three Mogami-class frigates in Japan. (AP) 

SOUTH KOREA

SK Hynix (000660 KS) - Co. begins mass-output of high-capacity memory module 'SOCAMM2'. (Newswires)

Other News - Korea Exchange said it has revised rules related to penny stocks subject to potential delisting under tightened regulations set to take effect this year. (Yonhap)

Geopolitical - North Korea conducted a missile test in which multiple ballistic missiles were launched off its east coast. (Newswires)