Deals
Japan’s Ruling Party Proposes Selling Stake in Japan Tobacco
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Japan’s ruling party proposed selling the government’s majority stake in Japan Tobacco Inc., the world’s third-biggest publicly traded cigarette maker, to help fund rebuilding after the March 11 earthquake.
Japan Tobacco fell 1.8 percent, the most since Sept. 5, to 356,500 yen at the 3 p.m. close in Tokyo. The shares earlier today gained as much as 9.2 percent. The broader Topix index rose 0.7 percent.