Radioactive cesium was found in milk powder made by a Meiji Holdings Co. unit in Japan, prompting a voluntary recall of 400,000 cans of the infant formula, Kyodo News said today.
Meiji shares tumbled the most in more than eight months after the report, which said the contamination may be the result of radiation leaked from the Fukushima nuclear power plant. Products affected by the recall have the following expiry dates in 2012: Oct. 4, Oct. 21, Oct. 22. and Oct. 24, Kyodo reported.
Meiji slumped as much as 13 percent (2269) on the Tokyo Stock Exchange. The shares traded down 9.6 percent at a 30-month low of 3,025 yen at 2:28 p.m. local time, set for the biggest one- day slide since March 15.
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