Junko's Feed
Aug 17, 2011

TCI ups Japan Tobacco stake on buyback expectations

TOKYO, Aug 17 (Reuters) – The Children’s Investment Fund has
raised its stake in Japan Tobacco (JT) to 1.37 percent,
from around 1 percent two months ago, on expectations Japan’s
government would cut its stake, prompting a share buyback.

The British-based activist fund now owns 137,000 shares in
Japan Tobacco, the world’s third-largest cigarette maker, up
from about 101,000 in early June when the fund published a
letter urging the company to take action to boost shareholder
returns, a TCI partner told Reuters.

Aug 12, 2011

Lone Star aims to sell Tokyo property for $1.3 bln-sources

* Lone Star trying to sell property before loans
mature-sources

* Lone Star sold Tokyo property this year in largest
transaction in Japan

* Mizuho Financial is lender for about $1 billion in loans

(Adds details)

By Junko Fujita

TOKYO, Aug 12(Reuters) – Global private equity firm Lone
Star has put a Tokyo property on sale aiming to raise up to 100
billion yen ($1.3 billion) before loans on the office and
banquet hall complex mature early next year, sources with
knowledge of the matter said.

The move to sell the Meguro Gajoen complex in central Tokyo
reflects Lone Star’s desire to obtain a higher price than the 80
billion yen in loans taken out to finance its original purchase,
as well as a tough funding environment in Japan that would make
it difficult to refinance the loans, the sources said.

Aug 5, 2011

Analysis – Japan Inc could lose out as talks stall

TOKYO (Reuters) – The crumbling of mega-merger talks between Japanese industrial behemoths Hitachi (6501.T: Quote, Profile, Research) and Mitsubishi Heavy Industries (7011.T: Quote, Profile, Research) threatens a rare opportunity for Japan to improve its global competitiveness by consolidating century-old companies.

Hitachi and Mitsubishi Heavy are ready to walk away from talks that would have created an industrial giant with more than $150 billion (92 billion pounds) in sales, sources told Reuters on Friday, after preliminary discussions were thrown suddenly into the media spotlight and the companies turned cautious.

Aug 5, 2011

Analysis: Japan Inc could lose out as Hitachi-Mitsubishi Heavy

TOKYO (Reuters) – The crumbling of mega-merger talks between Japanese industrial behemoths Hitachi (6501.T: Quote, Profile, Research, Stock Buzz) and Mitsubishi Heavy Industries (7011.T: Quote, Profile, Research, Stock Buzz) threatens a rare opportunity for Japan to improve its global competitiveness by consolidating century-old companies.

Hitachi and Mitsubishi Heavy are ready to walk away from talks that would have created an industrial giant with more than $150 billion in sales, sources told Reuters on Friday, after preliminary discussions were thrown suddenly into the media spotlight and the companies turned cautious.

Jul 27, 2011

Tokyo Metro IPO eyed as option to help fund Japan rebuilding

TOKYO, July 27 (Reuters) – Tokyo Metro Co, which operates a
vast subway network stretching across Japan’s capital, could be
one of the first assets put on the block by the government as it
scrambles to raise cash to pay for rebuilding the tsunami-hit
northeast.

In the past few days lawmakers have floated the idea of
selling the government’s stake in Tokyo Metro through an initial
public offering, as well as running down holdings in Nippon
Telegraph & Telephone and Japan Tobacco Inc .

Jul 22, 2011

Japan court approves plan for failed lender Takefuji

TOKYO, July 22 (Reuters) – A Japanese court on Friday
approved a rehabilitation plan for failed consumer lender
Takefuji, allowing the company to tie up with Korean consumer
lender A&P Financial, according to Takefuji’s website.

The plan, submitted by Takefuji’s court-appointed trustee,
was preferred to two competing schemes put forward by creditor
groups.

Jul 20, 2011

Lone Star prepares to sell Tokyo Star Bank-sources

TOKYO, July 20 (Reuters) – U.S. investment firm Lone Star
has started preparations to sell Tokyo Star Bank only about a
month after it regained a stake in the mid-sized Japanese
lender, three people with direct knowledge of the matter said.

Lone Star, the top shareholder in Tokyo Star with around a
30 percent stake, has asked several investment banks to submit
proposals to advise on the potential sale, said the people, who
were not authorised to comment publicly about the matter.

Jul 20, 2011

S.Korea A&P to invest $357 mln in Japan Takefuji-source

TOKYO , July 20 (Reuters) – South Korea’s A&P Financial
plans to invest 28.2 billion yen ($357 million) in failed
Japanese consumer lender Takefuji, according to a source with
direct knowledge of the matter.

The price is less than the 31 billion yen offered by J Trust
, a Japanese financial services company which withdrew
from a race to take over Takefuji in April, which would mean
Takefuji did not choose the bidder with the highest price.

Jul 15, 2011

Takefuji aims to repay more than 20 pct of its debt

TOKYO, July 15 (Reuters) – Failed Japanese consumer lender
Takefuji, whose court-led rehabilitation is being contested by
creditors, is aiming to repay more than 20 percent of its debt,
its court-appointed administrator said on Friday.

It will make make an initial debt repayment of 50 billion
yen ($630 million), equivalent to 3.3 percent of what it owes
and including funds from its sponsor South Korea’s A&P
Financial.

Jul 14, 2011

Nikko Asset preparing IPO,choosing underwriters-sources

SINGAPORE/TOKYO, July 14 (Reuters) – Japanese fund
management company Nikko Asset Management is preparing to go
public and is set to choose underwriters to handle the initial
public offering, people with direct knowledge of the matter
said.

Nikko Asset, one of Japan’s largest asset management firms,
will list its shares in Tokyo and may also list on an overseas
exchange, the people said, asking not to be identified because
the information is not public.