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Companies

Chinese mystery investor lights fire under Japan's Zojirushi

Shares rise after microwave maker Galanz lifts veil on ownership

Shoppers in Osaka taste of rice bread made with a Zojirushi machine. The appliance company has struggled to grow profits in recent years. (Photo by Atsushi Ohoka)

OSAKA -- Shares in Japanese appliance maker Zojirushi have heated up, but not on hopes for rising sales to tourists during the upcoming Lunar New Year holiday.

Instead, the gains followed the revelation of a new shareholder, a Chinese rival whose emergence sparked speculation that it would add to its stake or seek a business partnership.

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