Chiba Kogyo Bank Soars on Report of Advancing Takeover Talks

Chiba Kogyo Bank Ltd.’s shares surged on Tuesday after public broadcaster NHK reported that the lender is advancing negotiations with bigger Japan regional lender Chiba Bank Ltd. toward a management integration that may make it a wholly-owned subsidiary.

Following the report, Chiba Kogyo Bank’s stock soared as much as 25%, marking the biggest intraday gain since September 2020. Chiba Bank’s shares also climbed, rising as much as 3.6%. Both lenders are based in Chiba Prefecture, next to Tokyo and home to Tokyo Disneyland and Narita International Airport.

As rising interest rates in Japan and a shrinking population intensify ...