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Sizzling Japan Summer Boosts Shares of Beverage and Candy Makers

Topix Foods Index has outperformed broader gauge this week
Early end to rainy season tends to boost Nikkei Index: Daiwa

By

Hideyuki Sano and

July 1, 2022, 4:57 AM UTC

It’s an unseasonably hot summer in Japan, and that’s good news for shares of cold beverage and candy makers.

Frozen confectionery manufacturer Seihyo Co. rallied 2.2% Friday to take its five-day gain to 14.5%. Bottled beverage maker Ito En Ltd. advanced 8.5% this week, while Coca-Cola Bottlers Japan Holdings Inc. and sweet maker Ezaki Glico Co jumped 5.4% and 4.1%, respectively.