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Capcom shares hit five year high

Company climbs 18 per cent in Tokyo trading after being upgraded to "strong outperform" in terms of revenue

Capcom's share price rose the most in more than five years in Tokyo trading, climbing 18 per cent to close at JPY 1,938 (USD 20.3).

The jump came after Mitsubishi UFJ Financial Group increased its rating on the Japanese developer to "strong outperform", citing earnings from the business which is set to revenue rise 39 per cent to JPY 71.6 billion (USD 751 million) in the year ending March 31.

Capcom is expected to outstrip its projected earnings for the end of the financial year, with a number of high profile titles set for release.

"The three titles to watch out for in the second half are Biohazard 5, Street Fighter IV and Bionic Commando," said Hirotoshi Murakami, a Tokyo-based analyst at Mitsubishi UFJ, who raised the company's rating to "outperform", according to Bloomberg.

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James Lee