Sanyo Electric Shares Slide On Battery Recall
Investors sold-off shares of Sanyo Electric after Japanese mobile operator NTT DoCoMo recalled cellphone batteries made by a Sanyo subsidiary.
Sanyo's stock tumbled to an all-time low during the session to close 3% lower on Friday.
DoCoMo said it made the recall as it feared the batteries would overheat and rupture while recharging.
The batteries were made at a joint venture company between Sanyo and a subsidiary of GS Yuasa Corp.