Following sharp afternoon declines and rallies, reports covered earnings and dividend policy developments at Link and Motivation, fonfun, GREE HD and Mizuno, among others.
Link and Motivation reported cumulative consolidated net profit of ¥2.38 billion for the first 3 quarters, down 5.2% year on year. Revenue increased, but the company ultimately posted lower profit because selling, general and administrative expenses rose following the consolidation of a subsidiary.
fonfun raised its full-year consolidated revenue forecast from the previous ¥3.60 billion to ¥3.97 billion. The revision reflects the effects of the succession of a subsidiary's business and the conversion of ICS into a wholly owned subsidiary, while the profit forecast was left unchanged.
GREE Holdings reported first-quarter operating profit of ¥970 million, down 7.3% year on year, but changed its dividend policy and indicated that the annual dividend was expected to start at ¥22. The news was viewed as a buying catalyst.
Mizuno reported first-half consolidated operating profit of ¥14.66 billion, up 22.1% year on year, although it was below the market consensus of ¥15.03 billion. Several businesses in Japan and overseas performed well, but some businesses in Europe and the Americas weighed on profit.
Kyushu Financial Group reported first-half consolidated net profit of ¥22.3 billion, up 6.9% year on year, and left its full-year net profit forecast unchanged at ¥45.0 billion. The stock price appeared to be experiencing a sense that the catalysts had been exhausted.
Tsugami raised its full-year consolidated operating profit forecast from ¥36.5 billion to ¥48.0 billion. First-half operating profit was ¥25.2 billion, up 65.8% year on year. The company raised its year-end dividend from ¥49 to ¥61, bringing the annual dividend to ¥122.