Shares of Daikokutenbussan, which operates the La Mu food discount supermarket chain, fell sharply as investors reacted negatively to the outlook for a sharp decline in profit in the June-August quarter. The share price fell to around ¥3,820.
Daikokutenbussan operates the La Mu chain, and concerns among investors are spreading after reports indicated that the company is expected to post a sharp decline in profit in its June-August quarter results. The share price fell sharply in response.
During trading hours, the share price was down as much as ¥385 from the previous day and traded as low as ¥3,820. The sharp decline was reported as a market reaction.
As supporting evidence for the news, a media outlet covering financial information has carried a similar report, drawing attention to the relationship between the share-price movement and deteriorating performance.