Daiwa: To use share sales funds for Asia expansion

TOKYO, Nov 12 - Daiwa Securities Group Inc <8601.T>, Japan's second-largest brokerage, said it would use money raised from its own latest share sale earlier this year and profits from the sale of its stake in Sanyo Electric <6764.T> to expand its Asian operations.

The brokerage also said it plans to expand its REIT business through mergers and acquisitions.