IN BRIEF (Page 17)

Daiwa tumbles

Shares of Daiwa Securities Group Inc, Japan's second-biggest securities company, plunged more than 12 percent Monday after the company announced plans to raise about 240 billion yen ($2.5 billion) in a public share offering.

The news stunned investors who worried that the offering would dilute the value of existing shares. The Tokyo-based brokerage said after market close on Friday that it will issue up to 345 million new shares from July 15 to July 21. It will use funds raised to bolster its retail business and presence in Asia and emerging markets.