Olympic Medalist-Linked Firms' Stock Prices Go Up

Economy Tokyo 2020

Tokyo, July 26 (Jiji Press)--Companies associated with athletes who won or were set to win medals at the ongoing Tokyo Olympics saw their stock prices jump on Monday.

Many Japanese athletes' superb performance at the Tokyo Games, which opened Friday after a one-year postponement due to the coronavirus pandemic, led to "congratulatory buying" of related shares, a securities firm official said.

The stock price of Parking lots operator Park24 Co. <4666> soared 2.37 pct from Wednesday, the previous trading day, to 2,025 yen after three judoka belonging to the firm--Naohisa Takato, Hifumi Abe and Funa Tonaki--earned medals.

Takato won gold in men's 60-kilogram division on Saturday, and Tonaki earned silver in women's 48 kg category the same day. Abe clinched men's 66 kg gold on Sunday, after his younger sister, Uta, won the gold medal in women's 52 kg judo division the same day.

Smartphone game provider Mixi Inc. <2121> shot up 2.66 pct to 2,821 yen, after Yuto Horigome, who belongs to the company's entertainment subsidiary, became the first Olympic gold medalist in skateboarding.

[Copyright The Jiji Press, Ltd.]

Jiji Press Tokyo 2020