Tokyo Steel Manufacturing shares jump after guidance raised on strong demand

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Tokyo Steel Manufacturing shares JP:5423 rose sharply Monday morning after it posted strong first-quarter results and raised full-year profit guidance.

The shares were recently 21% higher at the upper end of the day’s trading range of 1,703 yen.

Tokyo Steel said Friday after market close that net profit climbed 30% from a year earlier to Y8.845…

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