Timee's share price fell approximately 17% on the Tokyo Stock Exchange on the 11th after the company's reported operating profit came in below market expectations. The broader market remained in a downtrend amid higher oil prices and rising interest rates.
The Nikkei average fell sharply on the Tokyo Stock Exchange on the 11th, closing at ¥64,011.34, down ¥1,259.61 from the previous day. Higher oil prices and rising interest rates globally fueled concerns about an economic downturn and strengthened investors' risk-averse stance. Artificial intelligence-related and semiconductor stocks were sold, with the decline exceeding ¥2,000 at one point.
Meanwhile, Timee's share price fell approximately 17% on the same day, reportedly after the company's reported operating profit came in below market expectations. The article does not provide specific figures for Timee's financial indicators, but says the shortfall prompted the market reaction.
The Nikkei average's decline was driven by concerns about an economic slowdown resulting from higher oil prices and the high-interest-rate environment. Investors' risk-averse stance remains strong.