Nikkei edges higher, Daiwa Securities slides
* Daiwa Securities falls after announcing share sale
* Stock market takes industrial output data in stride
* Investors await more economic data later this week
TOKYO, June 29 (Reuters) - Japan's Nikkei stock average edged higher on Monday but gains were limited as investors awaited key economic data later this week, while Daiwa Securities tumbled 13 percent after announcing a $2.5 billion share sale.
The Nikkei did not draw much strength from data showing that industrial output rose by a 5.9 percent in May, as it merely underscored the view that the worst of Japan's economic slump may be over, market analysts said. [ID:T252541]
"It is hard to move with the tankan coming up, as well as U.S. jobs data and the U.S. ISM manufacturing index," said Hideyuki Ishiguro, supervisor at Okasan Securities' investment strategy department.
Ishiguro said that while the rise in industrial output was smaller than the median market forecast for a 7 percent month-on-month rise, the data was not any big negative for Tokyo shares, given that the direction of industrial output still pointed towards improvement. The Nikkei rose 0.4 percent or 35.93 points to 9,913.32 .N225.
The broader Topix rose 0.1 percent to 927.96 . The Nikkei has taken a breather from a three-month rally that buoyed it to an eight-month intraday high of 10,170.82 earlier in June, but is still on track for its best quarter since 1995, having risen around 22 percent so far in the April-June quarter.
Daiwa Securities slid 12.7 percent to 583 yen after saying on Friday it would raise about $2.5 billion in its first share sale in 20 years as it looks to expand overseas and bolster its domestic retail operations. [ID:nT322520]
Takeda Pharmaceutical (4502.T) fell 1.9 percent to 3,720 yen after Japan's largest drugmaker said its key diabetes drug failed to get approval from U.S. regulators.
U.S. approval for the drug candidate alogliptin, which has been positioned as a successor to its top-selling drug Actos, might take until the end of the business year to March 2012, Takeda told Reuters over the weekend [ID:nSP468416]. (Editing by Edwina Gibbs)
