Money Forward Jumps, Baycurrent Rises, Toho Falls as Japan Stocks Close Earnings Mixed
Japanese stocks that reported recent earnings mostly rose on Wednesday, in line with a broader market rally, with gains led by companies reporting strong profit growth and upbeat outlooks.Money Forward (TYO:3994) jumped 17% after reporting its first-quarter results, swinging to a profit attributable to owners of parent of 1.83 billion yen from a loss of 1.12 billion yen a year earlier, as revenue rose 25.3% to 14.67 billion yen. The company expects full-year profit attributable to owners of parent of a loss, alongside revenue of 53.40 billion yen to 57.55 billion yen.Baycurrent (TYO:6532) advanced 14% after posting full-year results, with profit attributable to owners of parent rising 23% to 37.84 billion yen and revenue increasing 27.8% to 148.33 billion yen. The company forecast profit attributable to owners of parent of 48.10 billion yen and revenue of 190 billion yen for the next fiscal year.Meanwhile, Toho fell 5% after reporting full-year earnings. Profit attributable to owners of parent rose to 51.77 billion yen from 43.36 billion yen as revenue climbed 15.2% to 360.66 billion yen, but the company forecast profit attributable to owners of parent of 41 billion yen and revenue of 345 billion yen for the next fiscal year.
