Tokyo stocks seen opening higher, exporters in focus

TOKYO, March 12 (Reuters) Tokyo stocks are seen opening higher on Monday, led by shares of exporters such as Canon Inc.

following a fall in the yen and an advance in U.S. stocks.

Investors will also watch revised gross domestic product data due just before the start of trade, said Kazuhiro Takahashi, a general manager of equity marketing at Daiwa Securities SMBC.

He said if the figures come in stronger than expected, domestic demand stocks such as banks and real estate are likely to gain.

''The Nikkei is likely to open higher as investors took comfort in the result of the U.S. jobs data and currency moves,'' Takahashi said. ''But gains may be limited due to some profit-taking later.'' The yen was trading at 118.33 against the dollar in early Asian trade, compared with around 117.35 before the jobs data on Friday in New York. A softer yen is a boon to exporters as it lifts the value of their overseas sales when translated back into the Japanese currency.

Many economists expect Japan's economy grew more than the initially estimated 1.2 percent in October-December after a capital spending survey to be included in the revised GDP data indicated stronger-than-expected corporate investment.

Nikkei futures pointed to a rise in the market. Contracts expiring in June finished at 17,200 in Chicago, up 90 points from the close in Osaka The Nikkei is likely to move between 17,100 and 17,300 on Monday, Takahashi said.

The benchmark gained 0.43 percent to 17,164.04 on Friday. On the week the Nikkei fell 0.31 percent.

U.S. blue-chip stocks squeaked out a gain on Friday after a report on the U.S. job market reassured investors about the economy. The Dow Jones industrial average gained 0.13 percent to end at 12,276.32.

STOCKS TO WATCH -- KDDI Corp.

KDDI, Japan's second-biggest phone company, will team up with East Japan Railway (JR East) to provide fibre-optic broadband services from April, the Nikkei business daily reported on Saturday.

-- Matsushita Electric Industrial Co. Ltd.

Matsushita plans to cut 5,000 jobs by June as it shifts production of low-margin products to China and other overseas locations, the Asahi daily said on Saturday.

-- Takeda Pharmaceutical Co. Ltd.

Women taking the pioglitazone drug for diabetes reported more fractures than those taking a placebo or another drug in clinical trials, the company and U.S. health officials said in a notice to physicians released on Friday.

-- Aeon Co., Daiei Inc.

Aeon Japan's second-biggest retailer, on Friday clinched a 5 million deal to be the country's top retail group by taking a 15 percent stake in supermarket chain Daiei and Daiei's grocery subsidiary Maruetsu Inc.

Separately, Daiei cut its outlook for group net profit in the year ended Feb. 28 to 40 billion yen from its earlier projected 50 billion yen.

-- Tokyo Electron Ltd.

The chip equipment maker will likely beat its annual operating profit forecast by 4 percent thanks to strong spending by chipmakers, the Nikkei business daily reported on Saturday.

-- Uniden Corp.

The electronics maker said on Friday it would close its cordless phone plant in the Philippines on March 28 and shift production to its flagship plant in Shenzhen, China, to boost efficiency.

-- Rohm Co. Ltd.

The microchip maker said on Friday it would buy back up to 1 million of its own shares, accounting for 0.84 percent of its shares outstanding, or up to 10 billion yen worth.

-- Millea Holdings Inc.

Millea will set up a reinsurance company with JPMorgan, the Nikkei reported said on Sunday.

-- Nikko Cordial Corp.

Mackenzie Financial Corp. has become the third big Nikko shareholder to tell the broker it would not support Citigroup's .8 billion buyout offer because the offer price is too low, the Nikkei reported on Sunday.

-- Mizuho Financial Group Inc.

Mizuho Corporate Bank will set up an asset management firm in the United States in what would be the first attempt by a Japanese bank to enter the business overseas, the Nikkei reported on Saturday.

Reuters DKS VP0525