Shares in cyber security group soar as digital attacks hit Japan

Shares in a Japanese tech start-up, whose chief executive correctly bet that Covid-19 would unleash a surge of cyber attacks and entrench a corporate prejudice against unlisted companies, have surged more than 670 per cent after pressing ahead with its listing at the height of the mid-March market turmoil.

The explosive rise in the shares of Cyber Security Cloud has given a company with 45 employees a market capitalisation of around $800m. It listed on the Tokyo Stock Exchange’s Mothers board on March 26, days after the benchmark Nikkei 225 Index had racked up losses of 20 per cent.