Junko's Feed
Mar 8, 2013

KKR, Carlyle, others seek limit of Japan government funds

TOKYO, March 8 (Reuters) – KKR & Co. LP, Carlyle
Group LP, Bain Capital and other private equity firms
urged Japan’s government on Friday to shrink the role of
state-backed funds, saying they could squeeze out opportunities
for private capital and delay restructuring for troubled
companies.

Japan’s two largest state-backed funds have the capacity to
raise up to $37 billion to inject money into Japanese companies.

Feb 28, 2013

Can’t sell the TV?…sell the office: Japan Inc fires up property market

TOKYO, March 1 (Reuters) – Japanese blue-chip firms, from
electronics giants to brewers, are selling prime real estate to
shore up battered balance sheets, stoking a resurgent property
market. Some are moving into new offices to take advantage of
relatively low rents.

Big downtown office buildings are coming up for sale as
Tokyo’s property market regains growth momentum for the first
time in almost five years, with plenty of interest among buyers,
particularly Japan’s public real estate trusts, experts said.

Feb 28, 2013

Sony sells Tokyo building for $1.2 billion, year’s second office sale

TOKYO (Reuters) – Sony Corp has sold one of its most prized Tokyo office buildings to Japanese real estate trust Nippon Building Fund Inc and one other investor for 111 billion yen ($1.2 billion), its second high-profile building sale this year.

The 25-storey Sony City Osaki building, completed in March 2011, houses 5,000 of its workers on a site once known as the “holy land” for Japan’s television manufacturing industry, where Sony’s Trinitron TV was launched in 1968.

Jan 10, 2013

Sony puts Tokyo building up for sale in $1.1 bln deal-sources

TOKYO, Jan 10 (Reuters) – Sony Corp has put one of
its main buildings in central Tokyo up for sale in a deal that
could raise up to 100 billion yen ($1.14 billion) as the company
seeks to sell non-core assets to boost its balance sheet, five
people with direct knowledge of the deal said.

Sony is trying to sell the 25-storey Sony City Osaki
building, in what would likely be the biggest office property
deal in more than three years in Japan’s property market, which
has been in the doldrums in the wake of the global financial
crisis.

Nov 25, 2012

Voters in tsunami-hit zone feel let down as Japan election nears

IWAKI/KAMAISHI, Japan (Reuters) – Three weeks before Japan’s first national election since the March 2011 earthquake, none of the contenders has managed to win the hearts, and votes, of those hardest-hit by the disaster – with many feeling let down by the entire political class.

Volunteers and donations had poured in after the magnitude 9.0 quake off the northeast coast of Japan’s main island Honshu unleashed a deadly tsunami that killed nearly 19,000 and triggered reactor meltdowns at the Fukushima nuclear plant.

Oct 26, 2012

Japan government aims to list Japan Post in three years

TOKYO (Reuters) – Japan unveiled plans on Friday to list shares of state-owned Japan Post Holdings Co, which runs the country’s biggest savings institution, within three years to raise money to rebuild areas devastated by last year’s quake, tsunami and nuclear crisis.

Postal minister Mikio Shimoji told a news conference that the government’s shares in the company would be sold down in stages, but said he was not yet sure about the scale of the sell-down nor how much money Tokyo could raise.

Oct 26, 2012

Japan govt aims to list Japan Post in three years

TOKYO, Oct 26 (Reuters) – Japan unveiled plans on Friday to
list shares of state-owned Japan Post Holdings Co, which runs
the country’s biggest savings institution, within three years to
raise money to rebuild areas devastated by last year’s quake,
tsunami and nuclear crisis.

Postal minister Mikio Shimoji told a news conference that
the government’s shares in the company would be sold down in
stages, but said he was not yet sure about the scale of the
sell-down nor how much money Tokyo could raise.

Oct 23, 2012

Sony to close Tokyo tech center to trim costs

TOKYO, Oct 23 (Reuters) – Sony Corp plans to shut
operations in a Tokyo office building that houses 8 percent of
its Japan staff, one of the first concrete moves by the
electronics and entertainment company to pave the way for 4,000
job cuts.

The move, part of a still-unfolding restructuring under
Chief Executive Kazuo Hirai, had not been previously disclosed.

Oct 4, 2012

Japan’s giant pension fund eyes property, private equity

TOKYO, Oct 4 (Reuters) – The head of Japan’s Government
Pension Investment Fund (GPIF), the world’s biggest public
pension fund, said it may venture into alternative assets, such
as infrastructure and private equity funds, as an ageing
population puts more stress on the pension system.

Looking around for new and better investment returns is
vital for the fund as for the past three years it has been
paying out more in benefits than it receives in contributions to
the national pension system.

Oct 4, 2012

Island plans by Tokyo’s nationalist governor may stoke fresh China tensions

TOKYO (Reuters) – Tokyo Governor Shintaro Ishihara, a fiery nationalist whose failed bid to buy a group of disputed islands ignited a crisis with China, is pushing ahead with a plan to build structures there to hammer home Japan’s claim, officials involved told Reuters.

Although such a move is not imminent, it would be certain to strain Japan’s already shaky relations with China and could prompt a rebuke from the Obama administration, which has urged both sides to ease tensions by setting aside the dispute.