By Kosaku Narioka


Olympus Corp. shares rose sharply Thursday morning after the Japanese medical-equipment company posted strong fourth-quarter results and projected record net profit for the new fiscal year.

Shares were recently 11% higher at 2,532.0 yen after rising as much as 13% earlier.

Olympus said after Wednesday's market close that net profit more than doubled to Y28.075 billion ($216.0 million) for the quarter ended March from Y11.29 billion a year earlier, thanks in part to a recovery from pandemic sales slumps. The quarterly net profit beat the estimate of Y20.42 billion expected in a poll of analysts by FactSet.

For the year that began in April, the company said it expects net profit to increase 33% to a record Y154.00 billion as it projects revenue to rise 11% to Y968.00 billion on stronger sales of endoscopes and other medical equipment.

The Topix subindex for precision-instrument makers was recently 1.3% higher while the Nikkei Stock Average was 0.8% lower.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

05-11-22 2302ET