Toyota Industries Rally Sparks Gains in Possible Buyout Targets

Toyota Motor Corp. Chairman Akio Toyoda’s reported plan to buy out Toyota Industries Corp. sparked price gains in other Japanese stocks that could receive similar offers.

Shares of Sumitomo Densetsu Co., an electric facilities builder whose parent Sumitomo Electric Industries Ltd.is also listed, jumped 9% in Tokyo on Monday. Kinden Corp., which is owned by Kansai Electric Power Co., jumped 12%.

The latest speculation of change in parent-affiliate listings comes amid the the Tokyo Stock Exchange’s long-term campaign to reduce the number of cases where both entities are listed on the bourse.

Shares of Toyota Industries, ...