Game and entertainment stocks fell for the 4th straight day in the Tokyo market during the morning session on 28 September, weighed down by the downgrade of Nintendo. Square Enix Holdings, meanwhile, staged a modest rebound after its target price was raised, while TAY TWO rebounded after announcing an upward revision to its earnings forecast.
During the morning session on 28 September, the Nikkei 225 traded lower than the previous day, while among game and entertainment stocks, Nintendo fell for the 4th straight day on the downgrade of its rating by UBS Securities, and the target price for its shares was also lowered. Square Enix Holdings, meanwhile, staged a modest rebound amid expectations that Mizuho Securities would raise its target price. The Neutral rating was maintained.
Among other stocks, Sony Group, Bandai Namco Holdings, Sega Sammy Holdings, Konami Group, Capcom and Koei Tecmo Holdings were bought, while NJ Holdings, Nexon, Marvelous, Nippon Ichi Software, Imagineer, Tose, YuKe's and Nihon Falcom traded at lower levels. Among mobile game-related stocks, Akatsuki, Cave and KLab were higher, while CyberAgent, MIXI, DeNA, GREE Holdings, GungHo, Colopl and Mobile Factory tended to be lower.
TAY TWO rebounded after the market viewed its upward revision to the earnings forecast for the fiscal year ending February 2027, announced at the end of the previous week, as a positive factor. Happinet also reached a new year-to-date high at one point. In the gainers and decliners rankings, TAY TWO, Apirits and AltheaPlus were among the top gainers, while Bushiroad, TO Books, WIZE, enish and Celsys were among the top decliners.