Spam call filter firm is rare beneficiary of Fukushima furore
CHINA’S fury over Tokyo’s decision to discharge treated wastewater from the Fukushima nuclear plant is producing a rare beneficiary among Japanese stocks as tensions heighten.
Shares of Tobila Systems, an Aichi-based developer of call-screening software for mobile phones, have surged more than 10 per cent since the water release on Aug 24.
The move by Japan had reportedly set off a torrent of angry calls from China to groups and individuals in Japan. Tobila, or “gate” in Japanese, announced on Wednesday (Aug 30) that it will offer a new feature for corporate customers that blocks overseas countries as the number of phone calls from China surges.
Fury and unease among the Chinese public have buffeted Japanese companies that are especially reliant on demand from Asia’s largest economy.
Tokyo-based cosmetics firm Shiseido, which gets 30 per cent of its revenue from China, has slumped 9 per cent over the past two months amid online calls to boycott. China also suspended seafood imports from Japan, impacting shares of Nissui and sushi chain operator Genki Sushi.
“In terms of the overall macroeconomic impact on the market as a whole, the effect on individual consumption behaviour in China will have a large impact,” said Takeru Ogihara, chief strategist at Asset Management One.
For Tobila Systems, the stock market is waiting to see how much rising tensions actually contribute to revenue, said Shoichi Arisawa, an analyst at Iwai Cosmo Securities, adding that the jump in shares will likely level out.
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