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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.

Jul 31, 2012

Japan watchdog wants order against Nomura for insider cases

TOKYO (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.

Jul 29, 2012

Insight: As scandal grew, Nomura chairman pushed for shake-up

TOKYO (Reuters) – The biggest management shake-up at Nomura Holdings in a decade and a half was orchestrated by the bank’s chairman with the secrecy and precision of a military operation.

The closely guarded timing of Thursday’s announcement that Chief Executive Kenichi Watanabe was quitting stunned senior managers at Japan’s top investment bank. Watanabe, 59, had vowed only a month ago to ride out an insider trading scandal.

Jul 29, 2012

As scandal grew, Nomura chairman pushed for shake-up

TOKYO, July 29 (Reuters) – The biggest management shake-up
at Nomura Holdings in a decade and a half was
orchestrated by the b a nk’s chairman with the secrecy and
precision of a military operation.

The closely guarded timing of Thursday’s announcement that
Chief Executive Kenichi Watanabe was quitting stunned senior
managers at Japan’s top investment bank. Watanabe, 59, had vowed
only a month ago to ride out an insider trading scandal.