Hello Kitty owner Sanrio overtakes Toyota in stock turnover
Shares of Hello Kitty owner Sanrio, which was added to MSCI's Japan index last month, jumped 12 per cent in May. PHOTO: AFP
TOKYO – Hello Kitty owner Sanrio surpassed Japan's biggest company Toyota Motor in stock turnover last month on the firm's inclusion to the MSCI index and its perceived resilience to tariff risks.
A total of 2.1 trillion yen (S$18.7 billion) worth of Sanrio shares were traded in May on the Tokyo Stock Exchange, more than double from last month and exceeding 1.7 trillion yen for Toyota, according to data released by the bourse on June 6. Toyota's turnover fell from 2.2 trillion yen the previous month.
'Content-related stocks that are resistant to economic cycles offer a sense of security' in an environment where companies face earnings uncertainties on US tariffs, said Mr Fumio Matsumoto, chief strategist at Okasan Securities. In addition, 'Sanrio's inclusion in the MSCI index made it easier for global investors to buy the company.'
Shares of Sanrio, which was added to MSCI's Japan index last month, jumped 12 per cent in May. Jefferies Japan this week boosted its price target on expectation the company will see increasing brand equity and licensing revenues.
Toyota, more exposed to uncertainties over US tariffs and rising competition, meanwhile underperformed, with a 1.5 per cent gain.
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