As the Nikkei Average fell sharply for the first time in 4 days, Oriental Land and Konami Group surged on strong earnings. Fujitsu hit its downside price limit, and the market response was mixed with caution.
The Nikkei Average fell sharply today under the influence of earnings from U.S. technology companies, and caution toward technology stocks resurfaced following earnings announcements after the close. The decline eased at times after the results of the Bank of Japan’s monetary policy meeting were reported, but overall, selling led the market.
Among individual stocks, Oriental Land reported higher first-half operating profit year on year and raised its full-year forecast. Konami Group also reported a substantial year-on-year increase in first-half operating profit and raised its full-year forecast. Both stocks rose significantly.
Meanwhile, Fujitsu hit its downside price limit after its first-half earnings fell short of market expectations. First-half operating profit increased only 2.1% year on year, and concerns over deteriorating profitability and the impact of projects heightened caution.