Junko's Feed
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.

Jun 20, 2011

Carlyle Japan eyes industrials, domestic deals

TOKYO (Reuters) – Japan’s industrial, healthcare and technology sectors are the main focus for the Carlyle Group, the co-head of its Japanese unit said, as the firm looks to invest locally in the post-disaster environment in companies with a clear ability to compete abroad.

Carlyle, the only major private equity firm with a Japan-focused, yen-raised investment fund, will concentrate more on companies in the range of 10 billion yen to 40 billion yen ($125 million to $500 million), in the buyout firm’s efforts to keep its Japan investing going at a time when some of its peers are pulling back.

Jun 16, 2011

Ambitious Osaka property gets no Tokyo drift

OSAKA, Japan, June 16 (Reuters) – Three months after eastern
Japan was struck by a massive earthquake and tsunami, gloom has
once again settled over Osaka’s long-depressed property market.

After lurching from one recession to the next over the last
two decades, Osaka found a glimmer of hope when institutions and
embassies flocked to the country’s second-largest economic
centre to open emergency offices after the March 11 earthquake.

Jun 14, 2011

Foreign distressed investors said to be buying Tepco bonds

TOKYO, June 14 (Reuters) – Foreign hedge funds and investors
in high-yield debt are buying Tokyo Electric Power
bonds as they bet Japan’s parliament will enact a law to help
the utility compensate those affected by the crisis at its
nuclear plant and keep it solvent , market experts
said.

While Japanese investors are avoiding the risk of holding
debt issued by the utility known as Tepco, investors in
distressed assets are betting that passage of the law would give
them the opportunity to sell Tepco bonds and take profits, they
said.