Tokyo stocks flat in morning despite Toshiba spike on buyout proposal
Tokyo stocks were nearly flat Wednesday morning despite news that Toshiba Corp. had received a buyout offer from British private equity firm CVC Capital Partners. The 225-issue Nikkei Stock Average fell 10.86 points, or 0.04 percent, from Tuesday to 29,685.77. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 5.49 points, or 0.28 percent, at 1,959.83. Shares in Toshiba were flooded with buy orders. Securities house and pharmaceutical issues led decliners, while major gainers included metal product, and iron and steel issues.