JAPAN: Daiei - share price bouncing like a yo-yo - COMMENT (Members)
Daiei was forced to call a news conference to reassure investors after its share price fell 30%. Investors were scared by Daiei's profit warning on Friday, an effect that was further compounded when Moody's downgraded its debt rating. Daiei insisted that the downgrade was inappropriate and relationships with its creditor banks were still solid. While the banks seem to have assured Daiei's survival for now, the supermarket still has a lot to prove.
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