by Tajinder Dhillon.
The Coronavirus has negatively impacted various industries including airlines, hotels, transportation, tourism, oil, among others. However, a few niche industries have benefited from the virus when looking at the top performers on the Tokyo Stock Exchange.
The top two performers year-to-date on the exchange are Kawamoto Corp (3604.T) and Azearth Corp (3161.T). Remarkably, these two small companies with a market capitalization of $103m and $72m respectively are leading the pack on an exchange comprising of over 3,000 constituents.
Kawamoto Corp manufactures safety masks, which are in very high demand across Mainland China. Azearth Corp manufactures protective clothing which is used in hospitals.
Among the worst performers is GNI Group, who develops therapeutic agents for diseases. According to a company press release, “GNI Group is actively participating in the fight against this epidemic. Our research centers are planning new drug discovery efforts in the anti-viral field.”