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Slot maker’s profit to soar

Friday, May 2, 2003 | 10:06 a.m.

TOKYO -- Stock in Aruze Corp., a Japanese maker of pachinko gambling devices and slot machines, rose as much as 11 percent after it said group net income will increase by more than half in the business year started April 1.

Shares of Tokyo-based Aruze rose as much as 310 yen to 3,050 yen and changed hands at 3,000 yen, up 9.5 percent, as of the 11 a.m. close of the morning session on the Jasdaq market today. Aruze was the second-biggest gainer among companies with capitalization of more than 50 billion yen ($420 million) on Japanese markets.

The company Thursday said it expects group net income of 27.9 billion yen in the current business year, compared with a 17.6 billion yen profit last year. Aruze expects sales to rise 36 percent to 186.9 billion yen this year.

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