Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut
Photographer: Akio Kon/Bloomberg
This article is for subscribers only.
Boutique Japanese appliance maker Balmuda Inc. set out to make the perfect slice of toast, using the right combination of temperature, moisture and cooking time. Now, it looks like the company will have to bring as much care and attention to its stock price.
The company behind the $230 toaster, which is now being sold outside of Japan and South Korea, saw its shares double on their first day of trading on Wednesday. The stock was set to rise by its limit Thursday, potentially giving Balmuda a market value of 35.2 billion yen ($340 million). It’s a heady debut for founder Gen Terao, a high-school dropout who owns three-quarters of the company.