Reported about 6 hours ago
Sanrio Co., the owner of the Hello Kitty brand, experienced its largest stock decline since 2014 after announcing a plan for share sales by major stakeholders, including its president. The stock fell as much as 17% in early trading in Tokyo, on unusually high trading volume. The share sale, expected to increase liquidity, was deemed by analysts to exert near-term pressure on prices, although the overall character market remains strong. Despite this, Sanrio's stock has more than doubled this year due to successful character development and increased tourism.
Source: YAHOO