Japan stocks likely to open lower on US econ worry

TOKYO, Aug 1 (Reuters) - Japanese stocks are likely to open
lower on Friday, after an overnight fall on Wall Street as
disappointing economic data revived fears of a U.S. recession.

Banks may be in the spotlight after Mizuho Financial Group
(8411.T) and Sumitomo Mitsui Financial Group (8316.T) posted
sharp declines in first-quarter core profitability, hurt by the
global market downturn and a weakening domestic economy.
[ID:nT177780]

"Investors are likely to take a wait-and-see stance ahead of
the U.S. unemployment report for July later today, and amid a
raft of earnings and ensuing analyst ratings changes, the market
may lack a clear direction," said Masayoshi Yano, senior market
analyst at Meiwa Securities.

A U.S. Commerce Department report showed the economy grew at
a 1.9 percent annual rate in the second quarter, below the 2
percent reading forecast by analysts in a Reuters poll.

Japan's corporate earnings season is well under way, with
Nissan Motor (7201.T) and Astellas Pharma (4503.T) among major
firms due to announce results later in the day.

Nikkei futures traded in Chicago 2NKc1 closed at 13,335 on
Thursday, 25 points below the close in Osaka JNIc1.

The Nikkei .N225 may trade between 13,200 and 13,400,
market participants said. The benchmark edged up 0.1 percent to
13,376.81 on Thursday.
----------------------MARKET SNAPSHOT @ 2257 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1267.38 -1.31% -16.880
USD/JPY JPY= 107.79 -0.04% -0.040
10-YR US TSY YLD US10YT=RR 3.9579 -- 0.000
SPOT GOLD XAU= 913.3 0.05% 0.450
US CRUDE CLc1 124.1 0.02% 0.020
DOW JONES .DJI 11378.02 -1.78% -205.67
-------------------------------------------------------------
> Market ends lower on economic data, Exxon [.N]
> Dollar eases on weak U.S. data, payrolls in focus [USD/]
> Bonds rise after growth, job data miss [US/]
> Gold ends higher on inflation signs, weak dollar [GOL/]
> Oil drops 2 pct, caps biggest monthly loss since '04 [O/R]

STOCKS TO WATCH

-- Suzuki Motor Corp (7269.T), Mazda Motor Corp (7261.T)

Suzuki and Mazda reported on Thursday weaker quarterly
profits that fell largely within expectations and they kept their
forecasts intact, leaving a comfortable currency buffer against
looming headwinds. [ID:nT217910]

-- TDK Corp (6762.T)

TDK said on Thursday it plans to buy German electronic parts
manufacturer Epcos AG EPCGn.DE for $1.9 billion in cash, as it
pursues growth overseas and seeks to expand sales of
industrial-use components. [ID:nT172065]

-- Sharp Corp (6753.T)

Electronics maker Sharp Corp posted a 14 percent fall in
quarterly profit on Thursday, hit by slower mobile phone sales,
but it stood by its annual outlook for modest growth as it enjoys
strong demand for flat panels. [ID:nT174047]

-- All Nippon Airways Co Ltd (ANA) (9202.T)

All Nippon Airways, Japan's second-largest airline, reported
a 10 percent rise in quarterly operating profit on Thursday on an
uptick in international routes and as hedging cushioned the blow
of high oil prices. [ID:nT234656]

-- Hitachi Ltd (6501.T)

Hitachi said on Thursday it swung to a quarterly profit as
yields from its hard drives and power systems outweighed flat TV
losses, but it kept its annual outlook that is short of the
market consensus. [ID:nT179231]

-- Fujitsu Ltd (6702.T)

Fujitsu returned to profit as IT services sales outweighed
lingering losses on its semiconductors and hard drives. It kept
its annual outlook, citing rising materials costs and growing
uncertainty about the global economy. [ID:nT179231]

-- Mitsubishi UFJ Financial Group (MUFG) (8306.T)

Mitsubishi UFJ Financial Group, Japan's biggest bank, said on
Thursday it would spend 239.25 billion yen to buy back its own
shares from two of its subsidiaries.

MUFG also said it would set up a special purpose company to
issue about 200 billion yen worth of preferred securities, aiming
to use the funds to prop up finances at its units.

-- Mitsui Fudosan Co (8801.T), Mitsubishi Estate Co (8802.T)

Slower apartment sales dragged down quarterly operating
profit at Mitsui Fudosan, Japan's largest property developer, but
strong demand for office space sent profit at smaller rival
Mitsubishi Estate up 49 percent. [ID:nSP174071]

-- Sega Sammy Holdings Inc (6460.T)

The video game and slot machine maker said its operating loss
widened by more than four times in the three months ended in
June, on weak arcade sales and after a spike in slot machine
sales in the year-earlier period.

Its April-June operating loss came in at 10.3 billion yen,
versus a 2.4 billion loss a year earlier. But the company kept
its full-year profit forecast, saying the first quarter loss was
smaller than its own estimate.

--eAccess Ltd (9427.T), Acca Networks Co 3764.Q

ADSL and mobile services provider eAccess said on Thursday it
would spend 7.4 billion yen to increase its stake in Acca
Networks to 45.3 percent from 15 percent, making the rival
provider its subsidiary.

The deal, which the firms say will help them reduce costs by
a total of 7 billion yen, will make eAccess the second-biggest
ADSL provider in Japan after Softbank Corp (9984.T).

--Toppan Printing Co (7911.T)

Toppan Printing plans to invest 10 billion yen to build a new
plant to make solar cell back-sheets, the protective films used
to shield components in solar cell modules from wind and rain,
the Nikkei business daily reported on Friday.

Toppan will produce the films in partnership with U.S.
chemical giant DuPont (DD.N), the paper said.
(Reporting by Taiga Uranaka; Editing by Chris Gallagher)