Junko's Feed
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.

Jul 8, 2011

Takefuji customers file plan to recover debt

TOKYO, Jul 8 (Reuters) – Customers of Takefuji presented a
plan on Friday to recover the debt that the bankrupt Japanese
consumer lender owes them, saying they want members of the
founding family to inject money into Takefuji to help repay
creditors.

The group of 265 customers is seeking refunds of overcharged
interest they paid to Takefuji in the past. Takefuji’s business
was crippled by a 2006 legal ruling forcing Japanese consumer
lenders to repay overcharged interest to customers.

Jul 4, 2011

Asahi to buy Australia P&N’s mineral water, juice business

TOKYO/WELLINGTON, July 4 (Reuters) – Japan’s Asahi Group
agreed to buy the mineral water and juice business of
Australia’s P&N Beverages for A$188 million ($203 million) and
made an offer for New Zealand drinks maker Charlie’s Group
as Asahi steps up efforts to expand beyond its
shrinking home market.

Asahi pared back its purchase of P&N after a bid to buy the
entire company was blocked by Australia’s competition watchdog,
but analysts said the parts it selected were a good fit for its
business.

Jul 4, 2011

Asahi says to buy P&N’s mineral water, juice business

TOKYO/WELLINGTON (Reuters) – Japan’s Asahi Group (2502.T: Quote, Profile, Research, Stock Buzz) agreed to buy the mineral water and juice business of Australia’s P&N Beverages for A$188 million ($203 million) and made an offer for New Zealand drinks maker Charlie’s Group CHA.NZ as Asahi steps up efforts to expand beyond its shrinking home market.

Asahi pared back its purchase of P&N after a bid to buy the entire company was blocked by Australia’s competition watchdog, but analysts said the parts it selected were a good fit for its business.

Jul 1, 2011

Foreign bondholders seek to liquidate Takefuji -sources

TOKYO, July 1 (Reuters) – Foreign bond investors will file a
plan to liquidate Japanese consumer lender Takefuji Corp to a
local court on Friday, seeking a better recovery from their
investment in the failed lender, two people familiar with the
matter said.

The plan could derail the decision made by Takefuji’s court
appointed administrator to let Korean consumer lender A&P
Financial rehabilitate the Japanese firm.

Jun 21, 2011

Bain Capital says launches new Asia fund, eyes Japan

TOKYO (Reuters) – Bain Capital said on Tuesday it has launched its second Asia fund, seeking a larger amount than the $1 billion it raised previously, with Japan remaining a key focus despite the devastating blow to the country’s economy from the earthquake in March.

Bain will concentrate on linking up with Japan corporates to pursue overseas acquisitions worth more than 100 billion yen ($1.25 billion), Shintaro Hori, chairman of Bain Capital Japan told the Reuters Rebuilding Japan Summit in Tokyo.