TOKYO: Yasumitsu Shigeta, the founder and chairman of Hikari Tsushin Inc, was once among the world’s richest persons, before earnings disasters caused the company’s shares to sink 99% in 2000. Almost two decades later, some investors are having a second look at the Japanese company, and recent market moves suggest they like what they see.
Shares of the office-equipment seller have jumped 25% this year to the highest since 2000, outperforming the Topix stock index’s 6% gain. Three of four analysts surveyed by Bloomberg have a “buy” recommendation on its equity.
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