In the Tokyo market on 31 August, as game and entertainment-related stocks generally became more active, Nippon Ichi Software temporarily hit the daily price limit following an upward revision to its full-year forecast, while GungHo continued to rise after announcing a capital and business alliance with SME.
As the Nikkei 225 continued to decline, game and entertainment-related stocks accounted for a notable portion of the market, with individual names frequently making large gains. Nippon Ichi Software moved close to the daily price limit after the market responded positively to the upward revision to its full-year earnings forecast announced the previous Friday. Among related stocks, names including Akatsuki also continued to rise on upward revisions to investment ratings.
GungHo Online Entertainment announced a capital and business alliance with Sony Music Entertainment (SME) the previous Friday, and market interest has increased following reports that SME is expected to become its largest shareholder. The announcement that U-NEXT HOLDINGS, a group company of U-NEXT, had entered into a comprehensive strategic partnership with NBCUniversal in Japan also provided a catalyst for a rebound in related stocks.
Tokyo Tsushin Group also posted a substantial gain, while stocks including Bushiroad, coly and Drecom reached new year-to-date highs at times. By contrast, CyberStep HD saw a notable decline, Silicon Studio fluctuated sharply, and Mirrativ, Mandarake and COVER traded near their lows.
Overall, game and entertainment-related stocks showed active trading against a backdrop of company-specific factors, drawing market attention to price movements in major names.