TOKYO (Reuters) – Japan Display Inc, created in a three-way merger of the small liquid crystal display operations of Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz), Hitachi Ltd (6501.T: Quote, Profile, Research, Stock Buzz) and Toshiba Corp (6502.T: Quote, Profile, Research, Stock Buzz), has chosen investment banks to take it public as early as the first quarter of 2014, sources with direct knowledge of the matter said.
The initial public offering (IPO) will be marketed globally and is expected to raise at least 100 billion yen ($1.3 billion) for Japan Display and a state-backed fund that is the firm’s top shareholder, the sources said.
TOKYO (Reuters) – Japanese companies outside the banking sector were sitting on more than $2.6 trillion in cash and deposits at the end of June – a warchest fattened by a strong yen that is driving another record year of outbound acquisitions.
Bankers say telecoms firm Softbank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) $20 billion bid for Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) of the United States, announced on Monday, may be an outlier in Japanese finance – a deal so bold it could only be pulled off by the firm’s audacious chief, Masayoshi Son.
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.
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.
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.
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.”
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.
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.
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.
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.