PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Honda and Sony Mobility cancelled planned EVs
JAPAN
All Nippon Airways (9202 JT) - Co. revised its aircraft acquisition plan, replacing three Boeing 787-10 aircraft with three Boeing 787-9 aircraft now slated for delivery in FY2027. (Newswires)
Honda (7267 JT) - Honda and Sony Mobility cancelled planned EVs. (Newswires)
INPEX Corporation (1605 JT) - Co. said its Australian unit signed a farm-in deal with Daly Waters Energy to acquire stakes in the Beetaloo shale basin. (Newswires)
Japan Tobacco (2914 JT) - Co. said it will receive a dividend of JPY 110.1bln from its subsidiary JT International Holding. (Newswires)
Kioxia Holdings (285A JT) - Co. will provide TWD 15.673bln in funding to Nanya Technology via a private placement. (Newswires)
Shimano (7309 JT) - Co. expects to receive a JPY 50bln dividend from its consolidated subsidiary Shimano (Singapore), with payment scheduled for March 27. (Newswires)
SoftBank Group (9984 JT) - A Japanese biotech startup Spiber will transfer ownership to a company run by Maya Kawana, the eldest daughter of SoftBank CEO Masayoshi Son. (Nikkei)
Sony Group (6758 JT) - Co.’s electronics unit introduced new Bravia Theatre home audio products alongside the Bravia 3 II LED TV. (Newswires)
Toyota Motor (7203 JT) - Co. is turning to trucks for its hydrogen strategy as motorists shun clean-fuel cars, while it is recalling 144,200 vehicles in the US due to a rearview camera issue that may not display images when reversing. (Nikkei/Newswires)
Other News
Japan is set to create a stop-gap budget bill worth around JPY 8tln. (Kyodo)
SOUTH KOREA
Samsung C&T (028260 KS) - Co. was awarded a KRW 2.89tln construction order contract from Samsung Electronics. (Newswires)
Samsung Electronics (005930 KS) – Samsung Group will join government-led energy-saving efforts, introducing a 10-day vehicle rotation system amid concerns over a potential energy shortage. (Yonhap)
The cancellation of planned electric vehicles (EVs) by Honda and Sony Mobility signals potential strategic setbacks for major Japanese companies in the EV market, critical at a time when global competition in this sector intensifies. This may imply a shift in focus or strategy away from EVs, which could affect investor sentiment towards Japanese automakers and their ability to innovate within the rapidly evolving automotive industry.