Koei Tecmo Holdings revised upward its consolidated earnings forecast for the second quarter, shifting from its previous forecast for a double-digit decline in earnings to an outlook for higher earnings. The share price is rebounding in response.
Koei Tecmo Holdings revised upward its consolidated earnings forecast for the cumulative second quarter, covering April through September, on 19 October. The company had previously expected earnings to decline, but the shift to an outlook for higher earnings has been viewed positively by the market.
The company's share price is higher than the previous day's closing price, currently standing at ¥1,752.5, up ¥74. The forecast revision is believed to be behind the rebound.
The upward revision covers the cumulative period from April through September, and the announcement has drawn market attention.