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BlackRock Amasses 5.14% Stake in Furukawa Electric, Sparking Share Surge
Furukawa Electric Co., Ltd. <5801> extended its sharp rally today, as buying interest in major wire and cable makers remained robust since late last week. Adding to the momentum, a regulatory filing on the 3rd revealed that BlackRock’s Japan unit and its affiliates have amassed a 5.14% stake, crossing the 5% disclosure threshold. The filing sparked speculative buying, with investors reacting to the endorsement from the world's largest asset manager. The holding is designated for portfolio investment purposes, with the triggering event having occurred on the 31st.
Source: MINKABU PRESS
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