Orix Corp., the nation's largest nonbank financial firm, asked authorities to investigate whether unsubstantiated rumors contributed to declines in its stock price. The shares have reversed earlier losses, the company said Friday.
Orix requested an investigation by the Securities Exchange and Surveillance Commission regarding information circulating about the company, it said in a statement.
The stock rebounded from an 11 percent drop in morning trading and closed up 0.5 percent at ¥4,500 on the Tokyo Stock Exchange. Orix fell 27 percent in the three days through Thursday and traded earlier at an 11-year low.
"We have obtained information that's almost for certain that some major institutional investor is spreading ill-founded rumors that's impacting our stock price, so we have asked for an investigation," Ataru Yoshida, a spokesman for Tokyo-based company, said by telephone.