Japan Bridge Surges on Report It Won 3.8 Billion Yen State Order

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 ynohara1@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.