Oct 11 (Nikkei) - Japanese investors celebrated Akira Yoshino's Nobel Prize win by purchasing stocks associated with the lithium-ion battery the researcher helped develop.
Asahi Kasei, the chemical manufacturer where Yoshino serves as an honorary fellow, jumped 4% at one point in early trading before closing 1.8% higher to 1,125 yen. Tanaka Chemical gained 5.7% at the end of the day to 873 yen, climbing as much as 11% during the session.
Several Japanese companies hold outsized shares in key components of lithium-ion batteries. Asahi Kasei commands the top global share for separators, a feature fine-tuned by Yoshino that prevents rechargeable battery electrodes from short-circuiting. Tanaka Chemical is known for making cathode material.
Asahi Kasei's transaction volume swelled 4.9 times to 21.6 billion yen ($201 million). Sumitomo Chemical, which is strong in separators for electric vehicle batteries, saw its transaction volume grow roughly 20%.
Yoshino was awarded the 2019 Nobel Prize in chemistry along with American researchers John B. Goodenough and M. Stanley Whittingham for their work in developing the lithium-ion battery. The innovation paved the way for a host of modern conveniences, namely smartphones.
