Japan stocks seen down on financials, yen in focus

TOKYO, March 27 (Reuters) - Japanese stocks are expected to
fall for a second day on Thursday, pushed lower by financials
such as Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research) after worries
about bank profits and the economy hit Wall Street again, while
exporters may come under pressure from a firmer yen.

"Though not directly affected, Japanese bank shares are
likely to drag as they tend to move in tandem with their U.S.
peers," said Yumi Nishimura, manager of the investment advisory
section at Daiwa Securities SMBC.

The S&P financial index fell 3.5 percent on Wednesday
after a prominent analyst said bank profits would not start
growing any time soon because of fallout from what she called the
worst credit cycle in generations.

"Exporters could also test the downside if the yen becomes
much stronger during Tokyo trading hours," Daiwa's Nishimura
said.

Nikkei futures traded in Chicago 2NKc1 ended on Wednesday
at 12,580, which was 190 points below their close in Osaka,
pointing to a lower opening.

The Nikkei average .N225 fell 0.3 percent on Wednesday to
finish at 12,706.63.
----------------------MARKET SNAPSHOT @ 2258 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1341.13 -0.88% -11.860
USD/JPY <JPY=> 98.96 -0.03% -0.030
10-YR US TSY YLD <US10YT=RR> 3.464 -- 0.000
SPOT GOLD <XAU=> 954.2 0.07% 0.700
US CRUDE CLc1 106.06 0.15% 0.160
DOW JONES .DJI 12422.86 -0.88% -109.74
-------------------------------------------------------------
> Bank, economic woes hit Wall St; Oracle dives late [.N]
> Dollar falls on durables data, Trichet rate comments [USD/]
> Bonds mostly rise in continued flight to safety [US/]
> Gold back above $950 on weak dollar, firm oil [GOL/]
> Oil hits $106 as US fuel supplies fall [O/R]
STOCKS TO WATCH

-- Oracle Corp Japan (4716.T: Quote, Profile, Research), other software makers

Oracle Corp (ORCL.O: Quote, Profile, Research), the world's No. 3 software maker,
posted quarterly revenue that missed Wall Street expectations on
Wednesday, driving its shares down 8 percent and pushing down
stocks of some other software makers. [ID:nN26348177]

-- NEC Corp (6701.T: Quote, Profile, Research)

U.S. investment fund Perry Capital LLC has bought shares in
electronics conglomerate NEC so the fund can participate in
shareholder meetings and make management proposals, the Nikkei
business daily reported on Thursday.

Perry Capital, which owns about 6 percent in NEC chipmaking
unit NEC Electronics Corp (6723.T: Quote, Profile, Research), is not believed to be
planning to buy a big stake in NEC, the Nikkei said.

-- Pasona Group Inc (2168.T: Quote, Profile, Research)

Japanese staffing firm Pasona revised down its group net
profit forecast for the year to May 31 by 36 percent to 2.8
billion yen, citing slowing demand from large companies for
dispatched workers amid sluggish economic conditions.

Pasona also said its overseas business was hurt by the
fallout from the subprime problems and the stronger yen.

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

Electronic components maker TDK is expected to post a group
operating profit of about 86 billion yen for the year ending this
month, falling 4 billion yen short of its forecast due to a
stronger yen and higher raw materials prices, the Nikkei business
daily reported on Thursday.

-- Tokyo Electric Power Co (9501.T: Quote, Profile, Research)

Japan's biggest utility said on Wednesday it would postpone
the start of commercial operations at four new nuclear power
generators by one year. TEPCO also said it would bring forward
the start of two coal generation projects by a year, to the
business year 2013/14.

-- Bals Corp (2738.T: Quote, Profile, Research)

The firm, which sells interior goods and sundries, said on
Wednesday it would buy back up to 500 million yen of its own
shares, or 4.2 percent of shares outstanding, between March 27
and July 31.

-- Bank of Yokohama Ltd (8332.T: Quote, Profile, Research)

The regional bank said on Wednesday it would cancel 1.6
percent of its own shares on March 31.

-- Wacoal Holdings Corp (3591.T: Quote, Profile, Research)

The underwear maker said it would cancel 2.7 percent of its
own shares on March 28.

-- Hitachi Ltd (6501.T: Quote, Profile, Research), Elpida Memory Inc (6665.T: Quote, Profile, Research)

Hitachi said on Wednesday it plans to sell its entire stake
in Elpida Memory, allotting the shares to a retirement trust.
[ID:nT358986]

-- Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research)

Sumitomo Mitsui Financial Group said on Wednesday it aims to
list its shares in New York in the next three years, as Japan's
third-largest bank looks to expand its push overseas.
[ID:nT361153]

-- Mitsubishi Corp (8058.T: Quote, Profile, Research), Mitsubishi UFJ Financial Group
(8306.T: Quote, Profile, Research)

Trading house Mitsubishi Corp and Mitsubishi UFJ Financial
Group plan to establish a 100 billion yen corporate buyout fund
next month to target mainly domestic firms, the Nikkei business
daily reported on Thursday.
(Reporting by Aiko Hayashi; Editing by Chris Gallagher)