Oracle Japan shares surged 7% after the company reported record fiscal first‑quarter sales and profits, defying a broader sell‑off in its U.S. parent.
Oracle Japan is a subsidiary of Oracle Corporation, the U.S. software giant that provides cloud, database and enterprise software solutions. The Japanese arm announced that it had achieved its highest ever sales and profit figures for the first quarter of its fiscal year.
The rise comes as Oracle Corporation’s shares have been under pressure on the New York market, but Oracle Japan’s strong performance has helped lift the stock on the Tokyo exchange.
Analysts say the record results reflect robust demand for Oracle’s cloud and database services in Japan, although the company did not provide detailed guidance for the next quarter.
The 7% jump in Oracle Japan’s shares underscores the resilience of the company’s Japanese operations amid a challenging global market.
<small>Source: CNBC — read the original story there.</small>