Shohei Ohtani is a baseball phenomenon. Before his move to the Major Leagues, the Los Angeles Angels star was known as the "dual wielder” in his native Japan for his rare ability to hit home runs about as well as he pitches.
Now, as the U.S. takes note of his prodigious ability, some market watchers in Japan are eyeing a third skill — the ability to boost share prices.
An equal-weighted basket of five of his sponsors — including sportswear-makers Descente Ltd. and Asics Corp. — has risen 23% since Ohtani made history on April 26 as the first player in nearly 100 years to start a game as a pitcher while leading MLB in home runs. That’s more than double the Bloomberg World Apparel Index’s 10% rise over the same period and crushes the Topix index’s 1% gain.