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YAMADA DENKI STOCK ENDS LOWER FOLLOWING PROFIT DOWNGRADE

Sun. February 08, 2009; Posted: 11:22 PM
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TOKYO, Feb 09, 2009 (AsiaPulse via COMTEX) -- YMDAF | Quote | Chart | News | PowerRating -- Yamada Denki Co. (TSE:9831) shares plunged Friday after the major consumer electronics retailer replaced a forecast for 12% growth in pretax profit in fiscal 2008 with a projection of an 8% drop.

After opening bid-only, they kept falling, ending the day limit-down and 10.5% lower at 4,230 yen.

Some sell orders went unfilled, as the stock closed with a proportional distribution.

"Investors have been greatly disappointed because they saw Yamada Denki as a winner among the consumer electronics retailers," an analyst at a Japanese investment advisory firm said.

Some investors were also critical of Yamada Denki's information disclosure because sales figures in the company's monthly reports and business statements are calculated using different methods and often show large gaps.

(Nikkei)

For full details for YMDAF click here.

    


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