Northsand,Inc. announced revisions to its interim results and full-year forecast, and also raised its dividend forecast. The revisions prompted volatility in the share price, while reports of the company’s application to change its market segment to the TSE Prime Market also emerged as a contributing factor.
On 11 September, Northsand,Inc. announced revisions to its interim results, full-year earnings forecast and dividend forecast. The 7% upward revision to ordinary profit for the current fiscal year and the ¥2 increase in the dividend forecast affected the recent share price movement.
The share price rose to ¥2,312 on 4 September, up ¥151 from the previous day, before falling ¥168 on 7 September and ¥135 on 9 September. The share price range has been wide over the past 5 trading days, a period in which the market has been more responsive to individual developments.
On 7 September, the company disclosed an application to change its market segment to the TSE Prime Market, which was also reported as an individual catalyst on 8 September. The share price swung from an intraday high of ¥2,242 on 8 September to a closing price of ¥2,014 on 9 September, highlighting how quickly the market absorbed the news.
Trading volume was 1,412,400 shares on 7 September and 1,102,400 shares on 9 September, both significantly above the levels on the same dates a year earlier. Trading activity increased particularly on the days the share price fell.