TOKYO -- Shares in Japanese robotics manufacturer Yaskawa Electric hit a record high of 5,560 yen apiece on Friday during midday in Tokyo, marking over a threefold gain at the close of Friday trading at 5,540 yen from the end of 2016. The stock's stellar rise reflects investor enthusiasm for the company's future, especially as it expands its operations to Europe.
The company started up its first European plant in September in Slovenia to manufacture robots for industrial use. Yaskawa has an eye on capturing market share from German competitors that dominate the region, marking its diversification from China. In Japan's stock markets, Yaskawa had traditionally been thought of as a China play, but that may soon change if its foray into Europe is successful.
