Sanrio Shares Plunge Over 18% Following First-Quarter Operating Profit Disclosure
Sanrio shares fell more than 18% at one point in Tokyo trading after the company released its first-quarter financial results. The character merchandise group reported operating profit of 22.4 billion yen for the fiscal first quarter, with the earnings data drawing a sharp market reaction. Investors responded negatively to the disclosed figures, sending the stock into a steep intraday decline.
Sanrio shares plunged more than 18% at one point in Tokyo trading. The company had earlier disclosed its first-quarter earnings, and the financial data prompted a market reaction.
Sanrio reported operating profit of 22.4 billion yen for the fiscal first quarter.