Japanese Share Sales Reach 20-Year High Despite Market Rout
- Deals may hit ¥6 trillion this fiscal year: BofA’s Nagata
- Retail investors are keen on IPOs due to frequent debut gains
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Japanese companies have sold the most shares to the public in two decades, highlighting how not even an equity rout last month has damped investor demand for new stocks.
Corporations from automaker Honda Motor Co. to shoe company Asics Corp. have conducted at least 80 deals including initial public offerings, additional share sales and equity-linked bond issuance totaling about ¥2.9 trillion ($20.5 billion) so far in the fiscal year started April 1, Bloomberg-compiled data show. That’s the most for the period since fiscal 2004, with some saying the annual tally could double from the year-to-date levels.