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.
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