Ito En shares slide after latest profit decline
The shares of Ito En Ltd. dropped the most in three months in Tokyo after reports of a profit decline. Japan's largest maker of green tea beverages lost 103 yen, or 6.7 percent, and closed at 1426 yen due to declining operating profit from higher promotion costs and sluggish sales of vegetable and green tea beverages. At the same time, Goldman Sachs lowered its rating on the company from "neutral" to "sell" with a price target of 1000 yen.