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Stocks

Bandai's stock tests new heights on expectations for growth

Company forecasts lower profit but market sees untapped potential

TOKYO -- Bandai Namco Holdings' stock is trading high on expectations for growth as highlighted by the Japanese video game company reporting a record profit for fiscal 2016 on Wednesday.

Net profit grew 28% over the previous year thanks to hit video games and strong sales of figurines for popular characters from franchises like Mobile Suit Gundam. Bandai stock hit a record high on Tuesday thanks to market expectations for earnings. Although the company is predicting lower profit for the current fiscal year, Bandai could outperform expectations by tapping into its strengths.

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