Japanese stocks likely to fall, tracking Wall St

  TOKYO, May 12 (Reuters) -Japanese stocks are likely to drop
on Monday, tracking falls on Wall Street due to record oil prices
and rekindled concerns about the health of the financial sector
following a massive loss by American International Group (AIG.N: Quote, Profile, Research).

 Toyota Motor Corp (7203.T: Quote, Profile, Research) and other exporters are likely to
be under pressure after the dollar slid against the yen.

 "Investors are closely watching corporate earnings, economic
data and foreign exchange this week," said Hiroichi Nishi,
general mananger of equity marketing at Nikko Cordial Securities.

 Japanese earnings season is well underway, with Sony Corp
(6758.T: Quote, Profile, Research) and major banks including Mizuho Financial Group
(8411.T: Quote, Profile, Research) set to announce results this week.

 Economic indicators such as Japanese gross domestic product
data for January-March are also due.

 Market participants expect the benchmark Nikkei average to
move between 13,500 and 13,700 on Monday. The index on Friday
ended down 2.8 percent for the week.

 Nikkei futures traded in Chicago closed at 13,635 on Friday,
25 points below their close in Osaka
----------------------MARKET SNAPSHOT @ 2247 GMT ------------

                 INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500             .SPX       1388.28     -0.67%    -9.400
USD/JPY             <JPY=>       102.95      -0.02%    -0.020
10-YR US TSY YLD    <US10YT=RR>  3.7786          --     0.000
SPOT GOLD           <XAU=>       883.25      -0.07%    -0.650
US CRUDE            CLc1       125.98       0.02%     0.020
DOW JONES           .DJI       12745.88    -0.94%   -120.90
-------------------------------------------------------------
> Wall St Week Ahead: Stocks on hold, with oil a hurdle [.N]
> Dollar down as credit market concern rises [USD/]
> Prices edge up on renewed credit concerns [US/]
> Platinum ends sharply higher on ETN launch, gold up [GOL/]
> Oil hits record $126 on supply worry, fund buying [O/R]
STOCKS TO WATCH
-- Sanyo Electric Co (6764.T: Quote, Profile, Research)

 Consumer electronics maker Sanyo Electric and German carmaker
Volkswagen (VOWG.DE: Quote, Profile, Research) will jointly develop a lithium-ion battery
to be used in hybrid and electric cars, the Nikkei financial
daily reported on Sunday. [ID:nT165587]

 -- Takeda Pharmaceutical Co Ltd (4502.T: Quote, Profile, Research)

 Japan's largest drugmaker said after the market close on
Friday that it would buy back up to 100 billion yen worth of its
own shares between May 12 and June 23.

 Takeda had said during market hours on Friday that its fourth
quarter operating profit fell 77 percent and it forecast a sharp
fall in annual income on its $8 billion-plus purchase of
Millennium Pharmaceuticals. [ID:nT181081]

 -- Nippon Telegraph and Telephone Corp (NTT) (9432.T: Quote, Profile, Research)

 NTT plans to conduct a 100-for-1 stock split to eliminate
fractional shares before electronic stock certificates are
introduced next year, a source familiar with the matter said on
Saturday. [ID:nT196682]

 The Nikkei business daily said on Monday the telecom giant's
operating profit is likely to fall about 100 billion yen to about
1.15-1.2 trillion yen for the year ending in March 2009 due to
the absence of one-time gains in connection with changes in
pension programs booked the previous year.

 -- Mizuho Financial Group Inc (8411.T: Quote, Profile, Research)

 Subprime trading losses at Mizuho Financial Group exceeded
600 billion yen last business year, at least 13 percent more than
what it had flagged just weeks ago, the Yomiuri newspaper
reported on Saturday. [ID:nT241410]

 -- Konica Minolta Holdings Inc (4902.T: Quote, Profile, Research)

 The office equipment maker said on Friday it expects its
operating profit to be almost flat at 120 billion yen for the
year ending in March 2009, below a mean forecast of 127 billion
yen in a poll of 14 analysts by Reuters Estimates.

 -- JVC (6792.T: Quote, Profile, Research), Kenwood Corp (6765.T: Quote, Profile, Research)

 Midsize electronics makers JVC and Kenwood have agreed to
integrate their businesses under a holding company in October,
sources close to the matter said on Saturday. [ID:nT219244]

 -- Nippon Sheet Glass (5202.T: Quote, Profile, Research), Hoya (7741.T: Quote, Profile, Research)

 U.S. private equity firm The Carlyle Group [CYL.UL] will lead
a 58.1 billion yen management buyout of an LCD glass venture
jointly owned by Hoya Corp and Nippon Sheet Glass, Hoya said on
Friday. [ID:nT230504]

 -- Nissan Motor (7201.T: Quote, Profile, Research)

 The head of an Israeli-backed electric car project estimated
on Sunday that its partner, the Renault-Nissan alliance, would
likely invest $500 million to $1 billion in the swappable-battery
electric cars. [ID:nL11184832]

 -- Sharp Corp (6753.T: Quote, Profile, Research)

 Sharp, one of the world's biggest makers of silicon-based
solar cells, is preparing for the day when cheaper but less
efficient thin-film products could be its biggest sellers, an
executive said on Friday. [ID:nN09488922]

 -- JGC Corp (1963.T: Quote, Profile, Research)

  State refiner Kuwait National Petroleum Co awarded a package
worth $4 billion to build crude distillation units to a
consortium of JGC and GS Engineering and Construction Corp
(006360.KS: Quote, Profile, Research) of South Korea, state news agency KUNA said on
Sunday. [ID:nL11258868]

 -- Yamada Denki Co (9831.T: Quote, Profile, Research)

 Electronics retailer Yamada Denki plans to open a store with
floorspace of 5,000 to 10,000 square metres in China by 2010,
marking its first foray into the Chinese market, the Nikkei
business daily reported on Sunday.

 -- Daikin Industries Ltd (6367.T: Quote, Profile, Research)

 Air conditioner maker Daikin's group operating profit is
expected to rise more than 10 percent to about 140 billion yen
this financial year, boosted by strong sales of energy-efficient
commercial units in China and Europe, the Nikkei business daily
reported on Saturday.
 (Reporting by Taiga Uranaka; Editing by Chris Gallagher)