Nikkei seen moving little, Panasonic in focus

TOKYO (Reuters) - Japan's Nikkei average is likely to move in a tight range on Friday, with few fresh factors from overseas due to a U.S. national holiday, though a firmer yen could dent exporters.

One stock to watch will be Panasonic Corp (6752.T). The world's No.1 plasma TV maker cut its annual net profit forecast by 90 percent on Thursday and announced plans to restructure as the global financial crisis dampens sales of TVs and other electronics.

But analysts said the market was likely to be supported by window-dressing buying from some overseas players such as U.S. investment banks who close their books at the end of the month.

"The market is seen moving little until overseas funds start coming in in the afternoon," said Tsuyoshi Segawa, equity strategist at Shinko Securities.

"A string of economic data due this morning may have only a limited impact on shares as economic weakness is already priced in the market," Segawa said.

The Japanese government will release on Friday reports on consumer inflation, employment, household spending, retail sales and industrial output for October.

Market participants expect the Nikkei to move between 8,200 and 8,500 on Thursday.

The Nikkei average rose 2 percent on Thursday to 8,373.39 .N225.

Nikkei futures finished at 8,370 in Osaka on Thursday. Futures were not traded in Chicago on Thursday as U.S. financial markets were closed for the Thanksgiving holiday.

STOCKS TO WATCH

-- Sharp Corp (6753.T)

Sharp Corp said on Thursday that it, Italy's Enel SpA (ENEI.MI) and a third partner are likely to invest more than $2.6 billion in Italian solar power ventures to tap growing demand for cleaner energy despite a global economic slowdown.

-- Kyocera Corp (6971.T)

Kyocera Corp said on Thursday it will buy back up to 38 billion yen worth of its own shares, or 4.22 percent of those outstanding.

-- Fujitsu Ltd (6702.T)

Fujitsu Siemens Computers NIXG.UL said on Thursday that it plans to slash around 700 jobs in Germany -- 12 percent of its workforce in the country -- due to continued competitive and economic challenges.

Earlier this month Fujitsu said it will buy Siemens AG's (SIEGn.DE) 50 percent stake in the business for 450 million euros Fujitsu had said at the time it had no plans for any job cuts.

-- Idemitsu Kosan Co (5019.T)

Idemitsu, Japan's third-biggest oil refiner, said on Thursday it is likely to refine less crude oil in January-March than in the year-earlier period due to scheduled refinery maintenance.

-- JFE Holdings (5411.T)

JFE Steel Corp, a unit of JFE Holdings, and Bahrainian steelmaker Foulath will jointly spend 70 billion yen ($735 million) to build a plant in the Middle East to make iron ore pellets, the Nikkei business daily reported on Friday.

(Reporting by Rika Otsuka; Editing by Chris Gallagher)