JR East Doubles Its Stake in Rail Supplier Toyo Denki as Rare-Earth Risk Clouds Outlook
East Japan Railway is lifting its holding in traction-equipment maker Toyo Denki Seizo to 20% through a ¥1.16bn treasury-share placement, and the supplier is sweetening its dividend even as it guides for a double-digit profit drop next year on China's rare-earth export curbs.