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Kajima, Obayashi, Japan Construction Shares Surge as Tokyo Market Opens

Construction company shares surged in early Tokyo trading after a March 11 earthquake and tsunami inflicted damage along Japan’s northern Pacific coast. Among general contractors on the Nikkei 225 Stock Average, Kajima Corp. (1812) rose 33 percent, Obayashi Corp. (1802) rose 13 percent, and Shimizu Corp. (1803) and Taisei Corp. (1801) rose 16 percent each as of 9:45 a.m. local time. Sumitomo Osaka Cement Co. rose 18 percent and Taiheiyo Cement Corp. (5233) gained 19 percent. Daiwa House Industry Co. rose 12 percent and Sekisui House Ltd. (1928) gained 8 percent.

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