Japan Mobile Carriers Drop $25 Billion on Abe Rate-Cut Call
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Japan’s Prime Minister Shinzo Abe’s comments about mobile phone rates being too high have cost the nation’s three largest carriers more than $25 billion in market value since Friday’s close.
NTT Docomo Inc., Japan’s largest mobile-phone carrier by subscribers, and KDDI Corp. dropped 13 percent each over Monday and Tuesday, their biggest two-day slump since 2008. SoftBank Group Corp. sank 7.6 percent. The Topix index fell 1.2 percent.