Namco Bandai has had the biggest gain in Tokyo trading in a month after it said it would buy back shares and raised its annual forecast by 88 per cent.

The firm rose five per cent to 1,312 yen on the Tokyo Stock Exchange, advancing the most since February 13th.

The firm said it would spend 12 billion yen to repurchase up to 3.14 per cent of its outstanding shares, after the market closed yesterday.

Its forecast net income will rise 28 per cent to 31 billion yen in the year to March 31, helped by a 16.7 billion yen gain from the sale of real estate in Tokyo.

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