Hogy Medical Co. shares rose sharply Tuesday morning after nine-month operating profit climbed 5.5%, thanks partly to higher sales of packaged surgical items.
The shares were recently 6.6% higher at 3,535 yen after rising as much as 11% earlier.
Hogy Medical said Monday after market close that operating profit rose to Y5.06 billion ($39.4 million) for the nine-month period ended Dec. 31, from Y4.80 billion during the same period a year earlier.
Nine-month revenue climbed 6.2% to Y29.535 billion, as sales increased for custom-made kits of syringes, injection needles, gauze and other medical items used in procedures.
Nine-month net profit gained 0.5% to Y3.71 billion, slower than growth in operating profit, due partly to a fall in government subsidies.
Hogy Medical raised its dividend forecast for the fiscal year ending March to Y71.00 per share from its previous projection of Y70.00. It paid Y68.00 in dividend for the previous fiscal year.
Hogy Medical said it continued to expect revenue to rise 5.3% to Y38.72 billion and net profit to increase 4.6% to Y4.57 billion this fiscal year.