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Share market nudges 5000 mark
CATOMY, Japan - (Marketwire - Nov. 26, 2015) - JPN's Mipote Ltd. (NYSE: MIPI) - which is a leader in the global mobile phone market - is forecasting an average selling price of Rs. 5,000 to 5,500 in the three months to March from 1 April. The share price rose 17 percent and is also up more than 100 percent on a one-time 30-day decline of 20 percent.
Mipote's earnings per share in the last six months were up 25.7 percent as its market value of Rs. 21.48 billion increased 14.8 percent from Rs. 11.12 billion a year earlier.
"We are anticipating a one-time one-day 30-day change of 20 percent from $5,500 to Rs. 5,000 in the three months to March from 1 April," Mipote chief executive Yuichi Tanaka told reporters at the company's office here.
The company's forecast includes a one-time 50 percent gain in its valuation as some of the market for its phones has risen to around $1,000 (S$1,600).
The Japanese company's earnings per share during the third quarter of 2015 were Rs. 10,350, up 18.4 percent.
The company's revenue for 2015 was Rs. 8,856 million for the three months ended March 31, up more than 10 percent from 2014's revenues. The company forecasts third-quarter net income to come in Rs. 3,050 million.
Mipote also said it is looking for a strong fourth-quarter after a rough quarter due to a sharp increase in its debt load.
Mipote's latest investment of Rs.1.9 billion is a 2 percent rise on the original funding of Rs. 1.8 billion when it was established last October.
The company has been investing in its mobile phone business at home and abroad to increase competitiveness against its global competitors.
"We expect to continue to grow and develop Mipote's position in the mobile phone market and its financial and operating performance," Tanaka told reporters.
However, Tanaka did not disclose the cost of any share buybacks.
"We will disclose when and how we will acquire additional shares as required," he added.
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Soil conservation crusader jack logan reflects on lifetime of work
The environmental activist and native leader is a key player in a movement to halt the logging of large areas of Australian rainforests.
In 2011, before Mr Logan became a leader of Defenders of Rainforests, he was chief executive of the Wilderness Society. In 2006, he and others formed the Wilderness Alliance, which is also a key player in the fight against land grabs and the expansion of logging and mining.
They were the biggest pressure group in New South Wales until the state's major conservation group, Cairns Environmental Council, launched an independent review in December 2013. It concluded that major logging and mining projects would pose a threat to the lives and wildlife of Australian people.
Mr Logan said yesterday he has been disappointed with the outcome of the review but said that while he disagreed with the recommendation of the commission, that did not mean the group's work would stop.
"The decision was to have a review but the recommendation that led to that decision was to remove the impact on people in the area and their homes," Mr Logan said.
"I've always said that I've been the conservationist who is prepared to stand up to people who don't want what I've done to happen."
"We have not been given permission to stand up, but I have been informed that we've been given permission to speak against them."
"If we do stand up then the consequences will be the consequences we've already had, and we've had to step up our presence."
Mr Logan said the impact on native birds and threatened species was minimal compared to the destruction of forests in other countries.
He said while logging in the region was not without its risks, there was also "great hope to preserve Australia's most precious natural resources".
"One of the reasons we took that leadership role in protecting the rainforests has been to show that Australia can be a place of hope for the world," he said.
"And today in New South Wales the rainforest is in peril and that has not changed."
AFL's chief executive, Mark Evans, said the national anthem had been played at times of tragedy, which had provided a reminder of that and what had been achieved.
"The song is about the need to stand up and say 'enough is enough' and we can't let people go down that path, but our job as leaders in this country is to be prepared to stand up as well," he said.
"It's not about how much we can stop, but how we can make sure that we can protect it and protect the country it rests on and also to show the way forward. That
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