Feb. 28 (Bloomberg) -- Sanyo Electric Co. rose to the highest in a year in Tokyo trading after the Nikkei newspaper reported Nippon Oil Corp., Japan's largest oil refiner, agreed to distribute its solar-power panels to homes nationwide.

Sanyo shares rose 3.7 percent to 225 yen, the highest level since Feb. 22, 2007, at the close on the Tokyo Stock Exchange. Nippon Oil fell 1.2 percent to 739 yen, while the Nikkei 225 Stock Average declined 0.8 percent.

Nippon Oil's distributors will sell Sanyo's 3-kilowatt solar panels to Japanese homes for about 2 million yen ($19,000) each, the Nikkei newspaper reported today, without saying where it obtained the information. Nippon expects annual sales of about 200 panels initially, according to the report.