Toei Animation Share's falling

posted on 2003-05-07 10:52 EDT
Stock prices fall after low profit forecast

As a result of a forecast stating that Toei Animation expects to see its pre-tax profit fall in the coming year, investors have cooled to the company, causing its stock price to fall.

In the fiscal year ending in March the company saw it's pre-tax profits rise over the previous year despite previous warnings that profit would fall by as much as 19%.

Toei Animation was the first Anime production company to ever be listed on the stock exchange.

The company's stock, traded under the TSE code 4816, hit a high of aproximately 8000 yen have since fallen to the sub 6000 range, hitting a low of 5750 yes last month. The share price has now risen somewhat to 6100 yen yesterday.

In March Toei announced that it planned to start producing Anime specifically for the overseas market.

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