JAPAN: Morinaga Milk shares topple after frog is found in pudding
Shares in Morinaga Milk , the Japanese dairy and food producer, plummeted briefly on the Tokyo Stock Exchange this morning [Thursday] after a frog was discovered in one of its puddings. The pudding had been produced by the Morinaga subsidiary in Niigata Prefecture. Shares in the company fell by ¥22 (US$0.19) to ¥308. A stockbroker commented that the incident reminded investors of the food poisoning crisis that hit
Shares in Morinaga Milk, the Japanese dairy and food producer, plummeted briefly on the Tokyo Stock Exchange this morning [Thursday] after a frog was discovered in one of its puddings.
The pudding had been produced by the Morinaga subsidiary in Niigata Prefecture. Shares in the company fell by ¥22 (US$0.19) to ¥308. A stockbroker commented that the incident reminded investors of the food poisoning crisis that hit Snow Brand Milk Products last year, causing confusion in the market.
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