Axell's shares surged and hit the limit-up price after the company announced an upward earnings revision and a dividend increase. Nexon, meanwhile, plunged as its shares went ex-dividend. In the market on 29 September, dividend-related and earnings-revision stocks were the main movers.
Axell, which develops graphics LSIs for pachinko and pachislot machines, significantly revised its consolidated earnings forecast for the fiscal year ending March 2027 upward. It raised its operating profit forecast for the first half from ¥970 million to ¥1.33 billion, and its full-year forecast from ¥1.2 billion to ¥2.29 billion. The revision was reportedly driven by stronger-than-expected product sales prospects and price normalization amid growing demand for generative AI.
Along with the upward revision, the annual dividend was changed from the previously planned ¥41 to ¥79. The share price rose approximately ¥300 from the previous day, reaching ¥1,526 through proportional allocation at the limit-up price.
Nexon, meanwhile, plunged approximately ¥442 from the previous day to ¥2,625.5 as its shares went ex-dividend. The move was affected by a special dividend plan, including the distribution of excess funds, and supply-demand conditions deteriorated as the shares went ex-dividend.
MediciNova also fell to the limit-down price after the release of clinical trial results, while earnings-revision stocks including Happinet, Asahi Organic Chemicals and NSD were bought. Overall, movements in stocks going ex-dividend and those announcing financial results influenced the market.