TOKYO, Jan 6 (Reuters) - Japan's Nikkei average is likely to
be range-bound on Tuesday, the first full trading day of 2009,
with higher oil prices boosting trading firm Mitsubishi Corp
(8058.T: Quote, Profile, Research) even as profit-taking emerges to limit gains.

Bridgestone Corp (5108.T: Quote, Profile, Research), Japan's biggest tyre maker,
expects its operating profit to fall 15 percent to about 100
billion yen ($1.07 billion) in calendar 2009, the Nikkei
financial daily reported. [ID:nN05384706]

"The Nikkei has gone up for five trading days, and there's a
sense the market may be a bit overheated, with investors moving
to lock in profits," said Hiroichi Nishi, general manager at the
equity division of Nikko Cordial Securities.

"While the market is waiting for U.S. jobs data on Friday,
predicted to be pretty severe, hope for the new U.S.
administration will still keep the downside solid for now."

Oil prices rose 5 percent on Monday as Israel's deepening
incursion into Gaza and a dispute between Russia and Ukraine over
natural gas heightened fears of supply disruptions. [O/R]

The benchmark Nikkei .N225 is expected to move between
8,800 and 9,200. It closed at 9,043.12 on Monday, a half-day of
trading, for its first close above 9,000 in nearly two months.

Nikkei futures traded in Chicago closed at 9,280 on Monday
compared with the Osaka close of 9,070 2NKc1 JNIc1

----------------------MARKET SNAPSHOT @ 2241 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 927.45 -0.47% -4.350
USD/JPY JPY= 93.24 -0.22% -0.210
10-YR US TSY YLD US10YT=RR 2.4761 -- 0.114
SPOT GOLD XAU= 856.6 -0.27% -2.300
US CRUDE CLc1 48.26 4.14% 1.920
DOW JONES .DJI 8952.89 -0.91% -81.80
-------------------------------------------------------------
> Wall St slips on telecoms, financials; Apple jumps [.N]
> Dollar bolstered by Obama stimulus plan, ECB outlook [USD/]
> Longer bonds balk at looming issuance binge [US/]
> Gold leads precious metals slide on firmer dollar [GOL/]
> Oil rises 5 pct as geopolitical concerns mount [O/R]
STOCKS TO WATCH

-- Nomura Holdings Inc (8604.T: Quote, Profile, Research)

Nomura is likely to book a third-quarter valuation loss of
more than 50 billion yen ($535 million) on its stake in Fortress
Investment Group (FIG.N: Quote, Profile, Research), the Nikkei business daily reported.
[ID:nN05382885]

-- Kyocera Corp (6971.T: Quote, Profile, Research), TDK Corp (6762.T: Quote, Profile, Research)

Kyocera, TDK and three other large electronics parts makers
are likely to cut capital outlays in fiscal 2009 to around 160
billion yen combined, almost half the total of about 310 billion
yen for the 2008 business year, the Nikkei reported.

-- Elpida Memory Inc (6665.T: Quote, Profile, Research)

Elpida Memory said on Monday that brokerage Nomura Holdings
had converted 6 billion yen worth of its convertible bond,
leaving the PC memory maker to redeem the remaining 44 billion
yen. [ID:nT361114]

-- Sumitomo Metal Mining Co Ltd (5713.T: Quote, Profile, Research)

Sumitomo Metal, Japan's second-largest copper smelter, said
it has cut its copper production plan by 7 percent for the six
months to March as the economic slump eats into demand for the
metal. [ID:nT183576]

-- Sony Corp (6758.T: Quote, Profile, Research)

Sony is likely to announce closures of Japanese factories and
major divisions early next month, the Times of London said on
Monday, but the company denied any such plan existed.
[ID:nT360008]

-- Daiichi Sankyo Co (4568.T: Quote, Profile, Research)

Japan's third-largest drugmaker said on Monday it would book
an appraisal loss of 359.5 billion yen on a parent-company basis
on its stake in India's Ranbaxy Laboratories Ltd (RANB.BO: Quote, Profile, Research).
[ID:nT271624]

-- NTT DoCoMo (9437.T: Quote, Profile, Research)

NTT DoCoMo is yet to get approval from India's stock market
regulator for an open offer for Tata Teleservices Maharashtra Ltd
(TTML.BO: Quote, Profile, Research), the managing director of the Indian firm's parent,
Tata Teleservices, said on Monday. [ID:nDEL002332]

-- Fast Retailing Co Ltd (9983.T: Quote, Profile, Research)

December same-store sales at its domestic Uniqlo casual
clothing chain climbed 10.3 percent from the same month a year
earlier, saying its aggressive sales promotion led to robust
sales.

The retailer booked the biggest monthly gain since March 2001
in November with a 32.2 percent jump in same-store sales.

-- Toyota Motor Co (7203.T: Quote, Profile, Research), Honda Motor Co (7267.T: Quote, Profile, Research)

Automobile sales in Japan, excluding 660cc minivehicles,
plunged 22 percent in December from a year earlier to the worst
level on record for the month, capping a dismal 2008 when demand
fell to a 34-year low. [ID:nT302530]
(Reporting by Elaine Lies; Editing by Chris Gallagher)