Seria’s August same-store sales remained solid year on year, while the yen’s appreciation has raised expectations of lower import costs. Meanwhile, Keisei Electric Railway announced that it would expand its shareholder benefits. The Nikkei 225 suffered a sharp decline in afternoon trading, recording its biggest drop in 3 days.
The Nikkei 225 suffered its biggest drop in 3 days, with losses widening in afternoon trading amid yen appreciation and concerns over the situation in the Middle East. After falling more than ¥600 at one point shortly after the market opened, the index briefly returned to positive territory as some technology stocks attracted buying, but declines intensified again toward the end of the session. Most stocks on the Nikkei Prime Market fell.
Seria’s August same-store sales rose 9.7% year on year, remaining solid and pushing the stock to a year-to-date high. The increase was apparently driven by growth in customer traffic and a higher average spend per customer, while the yen’s appreciation also raised expectations of lower import costs.
Keisei Electric Railway announced that it would expand its shareholder benefits, adding day-use hot spring bath vouchers, admission tickets and movie tickets to the products exchangeable for shareholder benefit rail passes. The new benefits will apply based on shareholdings as of the end of September, with holders of 100 shares receiving benefits twice a year.