BlackRock, Other Funds Buy Japanese Arms ManufacturersBy
Fund managers have stepped up purchases of some Japanese defense stocks ahead of a snap election called by Prime Minister Shinzo Abe amid increased tension with North Korea.
BlackRock Inc. disclosed Thursday that it has raised its holding in Ishikawa Seisakusho Ltd., a mine maker, to 8.75 percent, and revealed a 6.61 percent stake in Howa Machinery Ltd., a producer of firearms. Fund managers have been buying larger defense names as well, such as IHI Corp. and Kawasaki Heavy Industries Ltd.
Ishikawa has seen its stock surge six-fold in 2017, partly fueled by individual investors buying the shares. BlackRock couldn’t immediately be reached for comment.
|BlackRock||Ishikawa Seisakusho||Bought 216,300 shares||8.75%|
|BlackRock||Howa Machinery||Bought 829,100 shares||6.61%|
|BlackRock||Kawasaki Heavy||Bought 7,600 shares||6.07%|
|BlackRock||IHI||Bought 647,497 shares||5.96%|
|Daiwa Securities||Kawasaki Heavy||Bought 191,600 shares||1.01%|
|Nikko AM||Kawasaki Heavy||Bought 11,300 shares||1.01%|
|Nikko AM||IHI||Bought 11,900 shares||0.96%|
|Nomura AM||Ishikawa Seisakusho||Bought 3,600 shares||1.01%|
|Nomura AM||Howa Machinery||Bought 7,900 shares||1.24%|
|Nomura AM||Kawasaki Heavy||Bought 107,000 shares||2.21%|
|Nomura AM||IHI||Bought 30,319 shares||2.01%|
|State Street||IHI||Bought 1.32m shares||5.62%|
|State Street||Shinmaywa Industries||Bought 412,000 shares||2.51%|
(Bloomberg data on transactions over Sept. 29-Oct. 5)
— With assistance by Min Jeong Lee