With Japan’s Olympic team outperforming all expectations at the Tokyo Games so far, some stocks in the host nation are seeing unexpected benefits.
In an Asian stock market pummeled by a Chinese regulatory crackdown this week, Japan’s haul of 11 gold medals is lifting everything from real estate stocks to the shares of seafood vendors with the most tenuous of links to the medalists.
Park24 Co. — a car park and vehicle-sharing operator — is up over 6% this week after Japan’s judo team, many of them employees of the company, won four men’s gold medals so far as well as multiple women’s medals.