Nintendo extends gains on strong Q1 profit growth; Bandai Namco recovers above 5,000 yen

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On August 7, the Tokyo stock market saw the Nikkei average extend its decline, ending the day down 76.55 yen at 65,606.71. Among gaming and entertainment stocks, Nintendo extended gains after the previous day's first-quarter results showed operating profit surged 150.5 percent year-on-year, a sharp increase that was well received. Bandai Namco also extended gains, recovering above the 5,000 yen level, after reporting record-high first-quarter results and raising its cumulative second-quarter earnings forecast. MegaChips rose for a seventh straight session after swinging to a profit in the first quarter and announcing a share buyback funded by an upward revision in gains from the sale of SiTime shares. Digital Hearts hit its daily limit up with proportional allocation following an announcement of a tender offer by Sandbox, a company wholly owned by Chairman Miyazawa.

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Swung to profit in Q1 and announced share buyback funded by upward revision in gains from SiTime share sale.

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