Airport Facilities Shares Surge on New Zone Report: Tokyo Mover

Airport Facilities Co. (8864) shares had a record two-day surge in Tokyo trading after the Sankei newspaper reported Japan’s government is considering a strategic zone to support small enterprises near the city’s Haneda airport.

Airport Facilities advanced as much as 38 percent in the past two days, the most since its December 1995 listing, according to data compiled by Bloomberg. ANA Holdings Inc. (9202) and Japan Airlines Co., the country’s two largest carriers, are the biggest shareholders of the Tokyo-based company that manages and leases facilities at Haneda and at Itami airfield in Osaka.

“Some investors expected that new facilities constructed in the special economic zone will be managed by the company,” said Nobuyuki Fujimoto, a senior market analyst at SBI Securities Co. “Individual speculators tend to react to this kind of news flow. The shares are gaining momentum after breaking the high in May but the reversal will be also quick.”

Japan Airport Terminal Co. (9706), which also manages facilities at Tokyo’s Haneda and Narita airfields, gained as much as 12 percent in the past two trading sessions, following Sankei’s report yesterday.

Airport Facilities changed hands at 767 yen as of 2:08 p.m. in Tokyo, up 3.9 percent. Shares of the company have risen 90 percent this year, compared with a 30 percent gain in the Nikkei 225 Stock Average.

Masahiro Shigihara, a spokesman at Airport Facilities, and Shigetoshi Hosoya, a Japan Airport Terminal spokesman, said they have no information about the development plan reported by the newspaper. Both officials declined to comment on the shares’ gains.

To contact the reporters on this story: Kiyotaka Matsuda in Tokyo at kmatsuda@bloomberg.net; Masaaki Iwamoto in Tokyo at miwamoto4@bloomberg.net

To contact the editors responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net; Sarah McDonald at smcdonald23@bloomberg.net

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