June 3 (Bloomberg) -- Square Enix Co. rose in Tokyo trading after Cosmo Securities Co. lifted its rating on Japan's third- largest video-game maker to ``neutral plus.''

The shares added 60 yen, or 1.9 percent, to close at 3,210 yen on the Tokyo Stock Exchange, after advancing as much as 6 percent.

The company's Dragon Quest 9 title, released for the Nintendo DS portable game player in November, will produce 20 billion yen ($190 million) in revenue from 5 million units sold in Japan, Cosmo Securities analyst Takashi Oka wrote in a Japanese-language report dated yesterday.

``It's not surprising Dragon Quest 9 for the portable console sold twice as many units as a version for stationary game machines,'' Ota wrote.

Net income for the year ending in March 2009 will almost double to 17.4 billion yen, 45 percent higher than the company's target of 12 billion yen, according to the report.

Oka yesterday raised his rating on the company from ``neutral,'' which had been maintained since Nov. 26.

The stock has declined 6.1 percent this year, compared with a 4.6 percent drop in the benchmark Topix index.

To contact the reporter on the story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

Last Updated: June 3, 2008 03:06 EDT