Nathan's Feed
Jul 26, 2012

Nomura CEO Watanabe to resign over trading leaks

TOKYO (Reuters) – Nomura Holdings Inc (8604.T: Quote, Profile, Research, Stock Buzz) CEO Kenichi Watanabe and his top lieutenant, Takumi Shibata, will resign to take responsibility for leaks of insider information to the clients of its brokerage unit, people with knowledge of the management shake-up said.

The resignation by Watanabe and Shibata, Nomura’s chief operating officer, were approved at a board meeting on Thursday, the sources said.

Jul 20, 2012

Japan short rule makes $2.2 bln ANA offering hard sell overseas

TOKYO, July 20 (Reuters) – Japan’s regulatory crackdown on
insider trading depressed hedge fund interest in All Nippon
Airways’ (ANA) $2.2 billion share offering,
highlighting a new challenge for Japanese firms looking to raise
funds overseas.

There were two surprises in the terms announced by the
airline this week: an unusually high discount of 4.2 percent and
an allocation split that left just 13 percent in the hands of
overseas investors, less than half the targeted 30 percent.

Jul 17, 2012

“King of Tokyo” dethroned by insider trading probe

TOKYO (Reuters) – Edward Brogan was Japan’s highest-profile hedge fund manager until he suddenly dropped out of view this month.

Dubbed the “King of Tokyo” by traders, the 53-year-old American seemed to have it all: wealth, professional acclaim and status as a patron of contemporary art.

Jul 5, 2012

Fund opposition looms over Japan exchange merger

TOKYO, July 5 (Reuters) – Opposition from overseas funds has
raised questions over whether Japan’s two major stock exchanges
will succeed with their merger plan at the proposed buyout price
having received the go-ahead from regulators.

Japan’s anti-monopoly watchdog, the Fair Trade Commission,
announced on Thursday that it had approved the combination of
the Tokyo Stock Exchange and the Osaka Securities Exchange
to create the world’s third-biggest equities exchange.

Jul 4, 2012

ANA eyes Asia deals with $2.6 bln capital raise

TOKYO, July 4 (Reuters) – All Nippon Airways plans
to use part of the $2.6 billion it is set to raise from equity
markets this month to take stakes in or buy Asian rivals,
underscoring the Japanese carrier’s rush to secure growth
outside its mature home market.

ANA said after the market closed on Tuesday that it would
issue up to 211 billion yen worth of new shares to pay for
fuel-efficient Boeing 787 Dreamliners, shore up its balance
sheet and build up a war chest to invest in growth opportunities
in Asia.

Jul 3, 2012

All Nippon Airways plans $2.5 billion capital raising: sources

TOKYO (Reuters) – All Nippon Airways Co (9202.T: Quote, Profile, Research, Stock Buzz) will announce plans on Tuesday to raise about $2.5 billion in an issue of new shares to buy planes and bolster its finances as it faces a resurgent rival Japan Airlines, two sources with knowledge of the matter said.

ANA is aiming to raise the funds, roughly 200 billion yen ($2.52 billion), before Japan Airlines (JAL) launches its initial public offering, slated for September and estimated at around $8 billion, the sources said.

Jul 3, 2012

All Nippon Airways plans $2.5 bln capital raising-sources

TOKYO, July 3 (Reuters) – All Nippon Airways Co
will announce plans on Tuesday to raise about $2.5 billion in an
issue of new shares to buy planes and bolster its finances as it
faces a resurgent rival Japan Airlines, two sources with
knowledge of the matter said.

ANA is aiming to raise the funds, roughly 200 billion yen
($2.52 billion), before Japan Airlines (JAL) launches its
initial public offering, slated for September and estimated at
around $8 billion, the sources said.

Jun 29, 2012

Nomura halves CEO pay in bid to close insider probe

TOKYO (Reuters) – Nomura Holdings admitted to widespread failures in protecting confidential client information on Friday and will slash pay for top executives and shut down an equity sales operation for a week as Japan’s largest brokerage tries to resolve a damaging insider trading probe.

Nomura (8604.T: Quote, Profile, Research, Stock Buzz) said CEO Kenichi Watanabe’s pay would be halved for six months to take responsibility for the brokerage’s third insider trading scandal since he took the helm four years ago. The announcement confirmed the terms of a Reuters report late on Thursday.

Jun 27, 2012

Nomura CEO taken to task over insider probe, keeps job

TOKYO, June 27 (Reuters) – Kenichi Watanabe was re-elected
as CEO of Nomura Holdings on Wednesday, but faced a
series of tough questions from shareholders about the Japanese
broker’s slumping share price and his handling of a protracted
insider trading probe.

The 59-year old bowed in apology at the annual shareholders’
meeting in central Tokyo’s Hotel Okura and vowed to shore up
compliance in the wake of the third insider trading scandal to
rattle the broker since he took the helm in April 2008.

Jun 26, 2012

DEALTALK: Japan Airlines IPO gets tailwind from tax savings

TOKYO, June 27 (Reuters) – As Japan Airlines taxies towards
its initial public offering in September, the airline will pitch
investors on the hard-won cost-cuts and fuel-efficient fleet
that helped it emerge from bankruptcy to become the world’s most
profitable airline.

But investors will also take note of another controversial
boost for the former national flag carrier: the airline won’t
have to pay $4.5 billion in taxes on future profits even though
it owes its survival to a taxpayer-funded restructuring.