First Eagle Comments on Mitsubishi Estate

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Jul 27, 2021
Summary
  • The stock was a top detractor.

Mitsubishi Estate (TSE:8802, Financial), one of the largest real estate developers in Japan, traded lower in concert with many other Japanese names. A sluggish start to Japan’s Covid-19 vaccination campaign has delayed the country’s economic recovery, and growth remains well below Japan’s pre-pandemic trend.

From the First Eagle Investment (Trades, Portfolio) Overseas Fund's second-quarter 2021 commentary.

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure