Home Breaking News Fujitsu has over $1 billion wiped off company value following Mr Bates vs The Post Office scandal

Fujitsu has over $1 billion wiped off company value following Mr Bates vs The Post Office scandal

by Amy Johnson LLB Finance Reporter
11th Jan 24 3:34 pm

Fujitsu has seen over one billion dollars wiped off its company value, following ITV’s recent drama Mr Bates vs The Post Office airing.

The Japanese tech giant’s overall company value has taken a dive of $1.07 billion (£838,400,300) in just over one week, according to the Tokyo stock exchange.

The staggering loss comes as pressure intensifies on their role in the British Post Office scandal, which is seeing calls for government contracts to be reviewed.

Read more related news:

Labour calls for the prosecution to be taken from the Post Office and given to the CPS amid the scandal

Scottish government looking into a ‘pardon scheme’ for Post Office masters

Paula Vennells to return her CBE following the Horizon scandal

Sunak pledges new law to exonerate subpostmasters over the brutal ‘miscarriage of justice’

Stats detailing Fujitsu’s market cap reveal how since the ITV series began airing on 1 January this year, it has fallen by a staggering amount with records documenting a value of $26.96 billion (£21,213,814,158) on 10th January, compared to $27.97 billion (£22,008,545,327) on 2nd January.

Reflecting on the loss, a spokesperson for industry data platform Alt Index said, “With the spotlight back on Fujitsu, it comes as no surprise that the Japanese tech giant has seen notable losses as high as $1 billion in recent weeks.

“As pressure intensifies on Fujitsu’s role in the British Post Office scandal, it has had a direct impact on the company’s market value, with a staggering loss of $1.07 billion being recorded over an eight-day period.

“Such a dive is a reminder of how significantly the news agenda and a brand’s reputation can help or hinder when it comes to the stock market.”

Leave a Comment

You may also like

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]