TDK Corp. fell after the Nikkei news said today that the company’s operating profit might decline to 86 billion yen from 90 billion yen than had earlier been forecasted.

The company expected the yen to trade near 110 yen against the dollar in January and March, while independent forecasts expect it to be about 105 yen.

Exporters also declined after the yen fell from 99.20 yesterday to 99.18 against the dollar. Sony Corp. fell 3.78% and Toshiba Corp shed 3.01%.

Mitsui & Co to take 20% equity in Qatar project

Mitsui & Co. Ltd announced yesterday that it has entered into a joint venture agreement with Qatar Petroleum, Qatar Electricity and Water Company and Suez in regard to establishing a project company a power generation and desalination project in Qatar''s Ras Laffan Industrial City.

The total project cost is approximately $3.9 billion.

Mitsubishi UFJ and Mitsubishi Corp. to set up 100 billion yen buyout fund

The Nikkei news reported today that Mitsubishi UFJ Financial Group and Mitsubishi Corp. will set up a 100 billion yen buyout fund next month to acquire shares in publicly traded Japanese companies with favorable business models and technology.

Mitsubishi UFJ and Mitsubishi Corp. will contribute 49.5% each, while 1% will be taken by a joint venture of the two companies.