July 9, 2018 / 1:29 AM / 8 days ago

Shares of western Japan companies down, hit by torrential rain

TOKYO, July 9 (Reuters) - Shares of some companies based in areas hard hit by the torrential rain in western Japan declined on Monday, with retailer Izumi Co falling as much as 3.6 percent to a year low.

The company, based in Hiroshima, runs “youme Town” shopping malls and supermarkets in the region, which include Okayama.

Shares of electronics appliance retailer Edion Corp fell 2.1 percent. The company is based in Osaka and many of its stores are in western Japan.

Automakers including Mazda Motor Corp and Daihatsu Motor Co suspended operations at several plants on Saturday. Mazda, headquartered in Hiroshima, said late Sunday that it would stop production at its plant in Fuchu, Hiroshima Prefecture, and Hofu, Yamaguchi Prefecture, through Tuesday, as it was unable to receive components. It said there was no damage to its plants or those of its suppliers. Mazda shares were up 0.5 percent.

The death toll from torrential rain and landslides in western Japan rose to 88 people early on Monday, with dozens still missing after the rescue of more than 2,000 stranded in the city of Kurashiki.

Evacuation orders were in place for nearly 2 million people and landslide warnings were issued in many prefectures. (Reporting by Taiga Uranaka; Additional reporting by Naomi Tajitsu; Editing by Stephen Coates)

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