Japan Posts Longest Streak of First-Day IPO Flops Since 2020

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Ringing of the trading bell during a listing ceremony at the Tokyo Stock Exchange in Tokyo.Japan’s run of struggling stock market debuts has stretched to the longest in six years, another sign of investor sentiment being shaken by the war in Iran. J-Pharma Co. dropped as much as 22% and Basic Inc. fell as much as 8% on their first day of trading, on a day when Japan’s stock benchmarks advanced along with the rest of Asia. Three other companies this year also fell at the open compared with their initial public offering prices. The last time more than five new shares sank on their debut was in March 2020.