Green Tea Maker Ito En Surges Most Since 2023 on Matcha Boom

Ito En Ltd. shares surged after the company postedBloomberg Terminal double-digit profit growth in the first quarter, driven by a jump in overseas green tea bag sales.

Japan’s biggest tea producer rose as much as 9.4%, the most since September 2023, fueledBloomberg Terminal by a 60% surge in overseas tea bag sales of its Oi Ocha brand. North America sales climbed 44% from a year earlier.