Oracle Japan jumps 7% on record Q1, bucking U.S. parent selloff

[Oracle office in Lehi City, Utah, USA] JHVEPhoto * Shares of Oracle Corp Japan (ORCL [https://seekingalpha.com/symbol/ORCL]) rose more than 7% on Friday after the company reported record fiscal first-quarter sales and profits, driven by strong growth in its cloud business. * The rally in Tokyo stood in contrast to a more than 3% drop in U.S.-listed Oracle (ORCL [https://seekingalpha.com/symbol/ORCL]) shares overnight, after the company sent a “force majeure [https://seekingalpha.com/news/4646878-oracle-bloom-energy-finish-down-but-pare-earlier-losses-after-data-center-force-majeure-notice]” notice tied to its New Mexico data center project. * The Japanese arm's net sales for the June-August quarter rose 13% from a year earlier to 74.