Bank of Japan plans gradual share sale

The Bank of Japan is considering ways to limit the market impact of its move to start selling shares in the country's commercial banks, bought between November 2002 and September 2004, by October this year.

The controversial decision to buy the shares was taken in order to limit the potential damage posed by the high degree of cross-held shares by these financial institutions.

Under the guidelines the central bank recently unveiled, the Bank of Japan will select a supervising trust bank to ove