Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

J Trust Drops to 6-Month Low After Shares Dip Below Offer Price

J Trust Co., the Japanese financial services firm that completed a record stock rights offer last month, plunged 11 percent to the lowest in six months after its shares fell below the offer’s strike price.

The shares closed at 1,627 yen today, the lowest since Feb. 27, on the Tokyo Stock Exchange after slipping as much as 22 percent. That’s the biggest intraday drop since July 22, 2010. The benchmark Topix Index gained 2 percent.

J Trust, on May 14 said it planned to issue 63.1 million shares at 1,800 yen apiece, giving shareholders one new share for each share owned. Last month, it raised 97.7 billion yen ($988 million) selling the securities to finance takeover bids in Japan’s biggest-ever rights offer.

“The shares’ dip below the strike price of 1,800 yen for the rights offering likely prompted investors to cut losses and fueled the selloff,” said Masamitsu Ohki, a fund manager at Stats Investment Management Co.

Tokyo-based J Trust acquired bankrupt consumer lender Takefuji Corp. last year, beating Seoul-based A&P Financial Co. The Korean consumer finance company is seeking 2.13 billion yen in damages from J Trust related to its takeover of Takefuji, according to Japan Finance Ministry filing.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.