Kumagai Gumi Shares Plunge on Plans to Rebuild Apartment Complex

  • Shares have the biggest intraday decline since November 2002
  • Yokohama apartment buildings were sold by Sumitomo Realty

Shares of Kumagai Gumi Co. had the biggest intraday decline in more than 13 years after the Japanese company said it is considering rebuilding five apartment buildings that were found to have problems with reinforcing steel.

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