Ferrotec Declines in Tokyo on Sale of Convertible Bonds to Tokio Marine

Ferrotec Corp., a Japanese semiconductor-equipment maker, fell the most in five months in Jasdaq trading after saying it will sell convertible bonds to Tokio Marine & Nichido Fire Insurance Co.

Ferrotec dropped 5 percent to 857 yen as of 9:03 a.m. on the Osaka Securities Exchange’s Jasdaq market, headed for the biggest decline since May 25.

To contact the editor responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net