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CyberAgent plunges sharply after three-day break, strong earnings fail to meet market expectations
On the Tokyo stock market on August 10, CyberAgent plunged sharply after a three-day break, closing below the 1,300 yen level for the first time since June 26. The third-quarter results announced late last week showed double-digit revenue and profit growth, accompanied by an upward revision of full-year forecasts, but the prevailing view was that they fell short of market expectations. Among the 96 game and entertainment-related stocks, 64 rose, with Sega Sammy Holdings edging higher for a third straight day after Nomura Securities raised its target price from 2,640 yen to 2,800 yen. Meanwhile, Furyu, which reported strong first-quarter results and July monthly performance, fell back on profit-taking.