Daiwa: To use share sales funds for Asia expansion

TOKYO, Nov 12 (Reuters) - 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. ($1=89.85 Yen) (Reporting by Junko Fujita)