The Japanese company Sanrio, behind Hello Kitty, is plummeting on the Tokyo Stock Exchange. This after several major shareholders, including Mitsubishi UFJ, announced that they are selling their stakes in the company. After an initial decline of over 17 percent, the fall has somewhat abated and stands at around 14 percent in the final trading.
The company has, however, come from a strong growth period, after the CEO change in 2020, the stock price has septupled, while Hello Kitty this year celebrates its 50th anniversary.
