These Japanese Firms Are Among Biggest Victims of U.S. Ban on Huawei

Japanese electronics component makers, such as Taiyo Yuden Co. and TDK Corp., are among the biggest victims of the U.S.-China trade war as the Trump administration bans U.S. companies from working with Huawei Technologies Co.

Taiyo Yuden stock tumbled about 26% this month, heading for its steepest monthly drop since June 2016, and TDK plunged 23%, set for the worst month since October 2008. They are among May’s worst decliners in the Nikkei 225 Stock Average. TDK is estimated to get about 10% of its sales from Huawei, Mizuho Securities Co. wrote in a report on May 17. Taiyo Yuden gets about 5-10% of revenues from the Chinese company, according to an updated Mizuho report on May 21.