'One Piece' and 'Slam Dunk' movies give Toei shares a bounce

Anime hits with legs fuel optimism even as studio projects operating profit to fall

A masked "Slam Dunk" fan poses in front of a promotional display at a Shanghai theater in April. © Kyodo

SHUGO TAMURA, Nikkei staff writer

September 6, 2023 05:13 JST

TOKYO -- Japanese film studio Toei Co.'s shares touched an intraday high of 18,510 yen here Tuesday, up 7% from the previous day's close, on widespread expectations that popular anime franchises like "One Piece" and "Slam Dunk" will continue to drive earnings.

Toei ended Tuesday at 18,490 yen -- 1,190 yen higher than Monday, when Mitsubishi UFJ Morgan Stanley Securities upgraded its rating from "neutral" to "overweight."