PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Automaker sales updates

Daikin Industries Ltd. (6367 JT) - Co. sees significant growth opportunities in India and the Southern Hemisphere as air conditioning adoption expands, Chairman Emeritus Noriyuki Inoue said. (Nikkei)

Honda Motor Co. Ltd. (7267 JT) - Co. US February vehicle sales rose 1.1% Y/Y to 108.2k units. (Newswires)

Mazda Motor Corp. (7261 JT) - Co. North America February vehicle sales were flat Y/Y at 33.5k units. (Newswires)

Nidec Corp. (6594 JT) - Co. said it could face a USD 1.6bln impairment review amid an accounting fraud issue. (Nikkei)

North Pacific Bank Ltd. (8524 JT) - Co. said it will launch a tender offer to acquire all outstanding shares of Career Bank Co. Ltd. (Newswires)

SoftBank Group Corp. (9984 JT) - Co. credit rating was maintained at BB+ while the outlook was revised to negative from stable by S&P Global Ratings. (Newswires)

Sojitz Corp. (2768 JT) - Co. plans to begin selling vehicles from Jaguar Land Rover in Brazil after acquiring full ownership of a brand-authorised dealership in the country. (Nikkei)

Subaru Corp. (7270 JT) - Co. US February vehicle sales fell 8.2% Y/Y to 45.1k units. (Newswires)

Toyota Motor Corp. (7203 JT) - Co. North America February vehicle sales rose 3.2% Y/Y to 180.9k units. (Newswires)

Tech - Rapidus Corp has added Canon Inc. as a first major domestic customer candidate for its 2nm chips. (Nikkei)

Hyundai Motor Co. (005380 KS) - Co. February vehicle sales fell 5.1% Y/Y to 306.5k units, citing fewer working days due to the Lunar New Year holiday. (Yonhap)

Kia Corp. (000270 KS) - Co. February vehicle sales fell 2.8% Y/Y to 247.4k units, citing fewer working days due to the Lunar New Year holiday. (Yonhap)

Tech - South Korea to expand public procurement of domestic AI products to support growth. (Yonhap)

South Korea to step up arms exports to the Philippines following discussions between South Korean President Lee Jae Myung and Philippine President Ferdinand Marcos Jr. on Tuesday. (Nikkei)