Hello Kitty Owner Sanrio Jumps as Tourism Rebound Lifts Earnings
- Sanrio shares rise as much as 11% on second-quarter earnings
- Full-year OP likely to beat guidance: Mitsubishi UFJ MS
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Sanrio Co. surged after earnings at the brand owner of Hello Kitty rebounded as Japan saw tourism spending exceed pre-pandemic levels.
Shares soared as much as 11%, the most in three months, after quarterly results beat analyst estimates on Nov. 2, the day before Japan’s equity market was closed for a national holiday. The company’s stock has surged more than 50% so far this year, double the gain of the benchmark Topix.