Electric arc furnace producer 東京製鐵 raised its earnings forecast into positive territory during trading hours on the previous weekend. Its share price has continued to rise in response.
During trading hours on the previous weekend, 東京製鐵 announced that it had revised its operating profit forecast upward into positive territory. The announcement prompted the share price to rise in same-day trading.
The development indicates that the change in 東京製鐵's earnings outlook has attracted market attention and is supporting investor buying interest.
Industry trends affecting major electric arc furnace producers and the outlook for the company's financial improvement may remain areas of market focus.