3443479 - SSO / Login to AS Java does not work - Maximum number of login sessions reached

While collecting AS Java "Authentication" (Example 3 of SAP Note 1332726 - Troubleshooting Wizard) trace during logon process, the following trace entries can be seen:  

[...]
4. com.sap.engine.services.security.server.jaas.BasicPasswordLoginModule   REQUISITE   ok          false      false      true      
5. com.sap.security.core.server.jaas.CreateTicketLoginModule               OPTIONAL    ok          true       true       true      
Central Checks                                                                                                exception             Maximum number of login sessions reached. Check Shared Memory configuration and set property [BrSessions] to a larger value.
Logon policies are disabled
[...]

[...]
[EXCEPTION]
java.lang.Exception: trace
at com.sap.engine.session.exec.ClientContextImpl.setClientId(ClientContextImpl.java:1165)
at com.sap.engine.sessionmgmt.jco.applib.impl.SessionReferenceProviderImpl.getSessionId(SessionReferenceProviderImpl.java:304)
at com.sap.engine.sessionmgmt.jco.applib.impl.SessionReferenceProviderImpl.getCurrentSessionReference(SessionReferenceProviderImpl.java:352)
at com.sap.conn.jco.rt.JCoJ2EERuntime.getRuntimeContext(JCoJ2EERuntime.java:345)
at com.sap.conn.jco.rt.JCoJ2EERuntime.getRuntimeContext(JCoJ2EERuntime.java:41)
at com.sap.conn.jco.rt.RfcDestination.ping(RfcDestination.java:1381)
[...]

SAP NetWeaver Application Server Java 7.50

J2EE, NW Java, NW AS Java, custom login module , KBA , BC-JAS-COR-SES , Session Management , BC-JAS-SEC-LGN , Logon, SSO , Problem