Nihon Seimitsu Up Sharply on Strong Expectations
Nihon Seimitsu (7771), the top seller of metal wristbands in Japan, finished up 8% today at Y379, after reaching as high as Y469 during the day. Volume was 943, 000 shares. On May 30 the company had projected that its ordinary profit for the March 2007 year would be Y208 million, compared with a deficit of Y280 million yen in the recent period. The stock has a habit of achieving short-lived, one-day gains, however, so the share price may turn south tomorrow.