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Oct 13, 2012

Spain, U.S. fiscal cliff may spark market correction: BlackRock’s Fink

TOKYO (Reuters) – Investors should brace for three or four months of jittery markets due to uncertainty over support for Spain and the looming “fiscal cliff” threatening the United States economy, BlackRock Chief Executive Laurence Fink said in an interview on Saturday.

Fink, head of the world’s largest money manager overseeing $3.6 trillion in assets, said he was still bullish on U.S. equities but warned that the stock market could lose 5 to 10 percent in a correction in the final months of the year.

Sep 19, 2012

Modest market return by ex-bankrupt Japan Airlines

TOKYO (Reuters) – Less than three years after it collapsed into bankruptcy, Japan Airlines Co Ltd (JAL) (9201.T: Quote, Profile, Research) made a modest market return on Wednesday, with its shares closing 1 percent above the price set for the world’s second-biggest IPO of the year.

The $8.5 billion initial public offering had been priced conservatively to take account of the airline industry’s tough outlook, with full-service carriers such as JAL under threat from low-cost operators in an already weak economy.

Sep 19, 2012

Japan Airlines gets small bump up in return to market

TOKYO (Reuters) – Shares of Japan Airlines Co Ltd (9201.T: Quote, Profile, Research, Stock Buzz) rose about 2 percent on their return to the stock market on Wednesday as investors flocked to the once-bankrupt carrier due to attractive valuations and industry topping profits.

JAL’s stock was trading at 3,865 yen as of 0016 GMT, above the initial public offering price of 3,790 yen, and valuing the company at about $9 billion – ranking it alongside Air China Ltd (601111.SS: Quote, Profile, Research, Stock Buzz) as Asia’s second-biggest airline by market value. The stock first traded at 3,810 yen on the main board of the Tokyo Stock Exchange.

Sep 18, 2012

After bankruptcy and makeover, Japan Airlines returns

Sept 19 (Reuters) – Before Kazuo Inamori, founder of
electronics firm Kyocera Corp, was brought in as chairman of
bankrupt Japan Airlines in 2010 he avoided flying on
the carrier because he thought the service was bad.

“I really hated JAL,” the 80-year old Inamori, who is now
chairman emeritus, told Japanese television in June. “JAL was
arrogant and didn’t care about its customers.”

Sep 11, 2012

Nomura CEO says Asia payday a few years down the road

TOKYO (Reuters) – It will likely take Nomura Holdings (8604.T: Quote, Profile, Research, Stock Buzz) another 2-3 years before it can generate significant profits in the Asia-Pacific region it has positioned as key to its growth outside Japan, the brokerage’s new CEO said in an interview on Tuesday.

Koji Nagai told Reuters he expected investment banking fees to expand in Asia in step with the region’s leading economies, which are expected to account for half of global output by 2050, up from about 30 percent now.

Sep 10, 2012

Japan Airlines sets IPO at $8.5 billion in sign of strong demand

TOKYO (Reuters) – Japan Airlines (9201.T: Quote, Profile, Research, Stock Buzz) set the pre-market price for its initial public offering at the top end of the range, raising $8.5 billion for state coffers in a sign of solid demand for the world’s second-largest IPO this year.

Japan Airlines, which has emerged from its 2010 bankruptcy with a clean balance sheet and industry topping profits, set the IPO price at 3,790 yen ($48.55) per share on Monday after gauging investor demand at 3,500 to 3,790 yen.

Aug 3, 2012

Nomura turns one corner with light sanction in insider case

TOKYO (Reuters) – Japan’s financial regulator handed Nomura Holdings the lightest possible sanction on Friday for its involvement in a string of insider trading cases, marking a key turning point in a costly scandal for the country’s largest investment bank.

The so-called business improvement order from the Financial Services Agency (FSA) will require Nomura to report regularly on its efforts to shore up compliance after it admitted to leaking information on three share offerings it underwrote in 2010.

Aug 3, 2012

Japan Airlines expects IPO to raise $8.5 billion

TOKYO (Reuters) – Japan Airlines said on Friday it expected to raise about $8.5 billion in an initial public offering next month, nearly doubling the investment of a state-backed fund that injected capital into the carrier following its bankruptcy in 2010.

The IPO is set to be the world’s second-largest this year after the $16 billion offering of social networking pioneer Facebook FB.N.

Aug 2, 2012

JAL gives up on securing stable shareholders before $8 bln IPO

TOKYO, Aug 2 (Reuters) – Japan Airlines has given up on the
idea of securing stable shareholders to hold at least 10 percent
of its stock ahead of its listing because such a move would
breach industry rules, Chairman Emeritus Kazuo Inamori said.

The airline has been sounding out trading houses and other
business partners as potential investors ahead of its roughly $8
billion initial public offering slated for next month, sources
with knowledge of the matter have told Reuters.

Jul 31, 2012

Japan watchdog seeks light sanction for Nomura over insider case

TOKYO, July 31 (Reuters) – Japan’s securities investigators
on Tuesday urged a relatively light penalty on Nomura Securities
and closed out a three-month investigation of the brokerage’s
role in leaks of company share issuance plans dating back to
2010.

The recommendation by the Securities and Exchange
Surveillance Commission moves Japan’s largest brokerage closer
toward a resolution of a costly scandal that triggered the
resignations of Chief Executive Kenichi Watanabe and his top
lieutenant Takumi Shibata last week.