Japan’s win drives some stock gains

Shares of some sports and entertainment companies jumped after Japan’s surprise win over Germany in a World Cup match.

Cyberagent Inc, which is broadcasting all the games for free in Japan on its Abema streaming service, surged as much as 9%, the most since April 28. Konami Group Corp, which makes soccer-related video games, rose as much as 4.1%.

“It adds a touch of glamour to the market just ahead of the year-end, and the market welcomes it,” said Shoichi Arisawa, general manager at Iwai Cosmo Securities Co.

Retail investors will be hunting for related names, as long as Japan keeps winning, he added. Sporting goods maker Mizuno Corp climbed as much as 5.2% while larger peer Asics Corp gained 2.4%. Small-cap pub chain operator Hub Co soared 10%, while brewery and Japan team sponsor Kirin Holdings Co edged higher. The benchmark Topix gained more than 1% as Tokyo reopened after a holiday.