Daily Management Review

Japanese company's shares fall 10% after message about punishing vaccinated employees


Shares in a major Japanese developer posted a three-year record drop following an article that employees vaccinated against the coronavirus were allegedly at risk of punishment. The company categorically denied the publication, but this did not stop investors from fleeing.

Shares in one of Japan's largest construction companies, Tama Home, fell more than 10 percent after it was reported that the head of the company allegedly threatened to punish employees vaccinated against the coronavirus, writes Bloomberg.
Tama Home shares were at 2,756 yen (nearly $25) at Wednesday's close of trading, 10.23% cheaper than at the close the day before. At the low in trading, the drop was as much as 11.8%. As Bloomberg notes, this is the sharpest decline in the value of the company's securities for more than three years. The developer's shares led the drop among the Topix stock index securities on Wednesday.
The drop was preceded by a publication by Japan's Shukan Bunshun magazine, Bloomberg writes. Citing several unnamed employees of Tama Home, it wrote that the president of the company allegedly opposed vaccinations in conversations with colleagues and warned of the threat of death in five years after vaccination. Employees were sent letters informing them of the dangers of 5G-enabled smartphones, the paper noted. The article also claimed that vaccinated employees would face indefinite suspension without pay.
Tama Home called reports of pressure on employees to vaccinate completely untrue. "The decision to vaccinate is left to the individual," the company said in a statement.

source: bloomberg.com