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Morgan Stanley Group Becomes Sanyo Electric's Top Shareholder

Posted on: Thursday, 12 January 2006, 15:00 CST

By Kyodo News International, Tokyo

Jan. 12--OSAKA -- The Morgan Stanley group became the top shareholder of Sanyo Electric Co. as of Dec. 31 by acquiring an 8.83 percent stake, the U.S. securities group said Thursday in a report to the Finance Ministry's Kanto Local Finance Bureau.

A Morgan Stanley spokesman in Tokyo said the stock purchase was requested by its clients and was not part of its proprietary trading.

In a separate filing with the bureau the same day, Morgan Stanley said it held 5.19 percent of the outstanding shares of Hanshin Electric Railway Co. as of Dec. 31.

The spokesman said the purchase was not part of its proprietary trading either.

The railway company drew public attention last October when an investment fund led by high-profile financier Yoshiaki Murakami acquired nearly 40 percent of its outstanding shares.

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Copyright (c) 2006, Kyodo News International, Tokyo

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Source: Kyodo News International, Tokyo

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