Japan Bridge Corp. (5912) surged in Tokyo trading after the Nikkan Kogyo newspaper said the builder won a 3.8 billion yen ($49 million) contract from the government.
Japan Bridge jumped 15 percent, the most since May 31, to 250 yen as of 10:24 a.m. in Tokyo. The Nikkei 225 Stock Average (NKY) dropped 1.6 percent to 8,529.93.
The order from Japan’s Construction Ministry is for a bridge in Saitama Prefecture, near Tokyo, Nikkan Kogyo said, without saying where it got the information. The Bridge is expected to be completed by spring 2013, it said.
To contact the reporter for this story: Yoshiaki Nohara in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com