Sankyo Tateyama's first-quarter results showed operating profit improving to ¥2.64 billion, while its full-year forecast remained unchanged at ¥4.0 billion. Against this backdrop, the share price hit its daily price limit.
Sankyo Tateyama reported first-quarter results, with operating profit improving from a loss of ¥1.16 billion in the same period of the previous year to ¥2.64 billion. The previous day, the company had left its full-year forecast of ¥4.0 billion unchanged.
The market was anticipating a substantial upside to earnings, and the share price hit its daily price limit and closed trading there.
Factors behind the earnings performance included higher sales linked to aluminum ingot market conditions, improved profitability following price revisions, foreign exchange effects, and increased volumes, mainly in the automotive sector, in Japan and overseas.