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Bandai Namco Holdings hits year-to-date high, surges on record Q1 results and mid-term upward revision
On August 6, Bandai Namco Holdings hit a year-to-date high on the Tokyo stock market. Record first-quarter results and an upward revision to its September interim earnings were taken as a positive surprise, sending the stock soaring in the afternoon session. Among 99 registered game and entertainment-related stocks, 56 rose, with buying in the lead. Colopl was bought on the back of a sharp profit increase in the third quarter, but struggled to extend gains as profit-taking capped the upside. Sankyo rebounded despite a sharp profit decline in the first quarter, as its plan to increase dividends was well received. The Nikkei Stock Average fell 617 yen to 65,683 yen, snapping its winning streak, but the TOPIX ended in positive territory, with active stock picking driven by earnings announcements.