Nathan's Feed
Mar 2, 2012

Ambitious Mazda to set path for Japan stock offerings

TOKYO (Reuters) – The sale of $2 billion in new stock by Mazda Motor Corp (7261.T: Quote, Profile, Research, Stock Buzz) this month is as significant for Japan’s equity capital markets as it is for the automaker, with the outcome expected to set the tone for a backlog of equity offerings.

Big technology companies such as Sharp Corp (6753.T: Quote, Profile, Research, Stock Buzz), Panasonic Corp (6752.T: Quote, Profile, Research, Stock Buzz) and Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) are among firms talked about by investment bankers as prime candidates to also hit the market with equity offerings. Hurt by the strong yen and dwindling sales, all three have warned of multi-billion dollar losses this year.

Feb 24, 2012

Carlyle hires Nomura, Goldman for Tsubaki Nakashima IPO-sources

TOKYO, Feb 24 (Reuters) – Private equity firm Carlyle
Group has hired Nomura Holdings Inc and
Goldman Sachs to handle the initial public offering of
Japanese ball bearing maker Tsubaki Nakashima Co in a deal that
could be worth at least 70 billion yen ($873 million), sources
with knowledge of the matter said.

The global offering could be launched as early as June,
depending on market conditions, the sources said. It would
likely rank as the largest IPO in Japan since online gaming firm
Nexon Co sold 98 billion yen worth of shares in
December.

Feb 2, 2012

Sony sees $2.9 billion loss, new CEO warns of pain

TOKYO (Reuters) – Ailing Japanese electronics giant Sony Corp warned it was heading for a bigger-than-expected $2.9 billion annual loss, presenting a daunting task for incoming CEO Kazoo Hiram, who vowed to move quickly to turn things around.

Overtaken by more innovative rivals such as Apple Inc and Samsung Electronics over the past decade, Sony posted a $2.1 billion net loss for October-December, normally a strong quarter boosted by year-end holiday sales, as it battled a strong yen, flooding in Thailand that ruptured supply chains, and a weak economy.

Feb 2, 2012

Sony sees $2.9 billion loss, reveals daunting task for new CEO

TOKYO (Reuters) – Japan’s ailing electronics giant, Sony Corp, warned investors on Thursday it was heading for a worse-than-expected (1.8 billion pounds) annual loss, revealing the daunting task ahead for its incoming chief executive, Kazuo Hirai.

The company, overtaken by more innovative rivals such as Apple and Samsung over the past decade, gave the forecast in its third-quarter results, surprising a market that had been expecting a full-year loss of barely half that amount.

Feb 2, 2012

Sony disappoints with $1.2 billion quarterly operating loss

TOKYO (Reuters) – Japan’s ailing electronics giant, Sony Corp, warned investors on Thursday it was heading for a worse-than-expected $2.9 billion annual loss, revealing the daunting task ahead for its incoming chief executive, Kazuo Hirai.

The company, overtaken by more innovative rivals such as Apple and Samsung over the past decade, gave the forecast in its third-quarter results, surprising a market that had been expecting a full-year loss of barely half that amount.

Feb 2, 2012

New Sony CEO to confront scale of turnaround task as loss looms

TOKYO, Feb 2 (Reuters) – The incoming chief of Japan’s
Sony Corp will face the enormity of his task to turn
around the electronics icon on Thursday when the firm is likely
to forecast a fourth straight annual loss as it loses ground to
rivals Apple and Samsung.

Kazuo Hirai, the Sony veteran who revived its PlayStation
gaming business, was named on Wednesday as the company’s new
chief executive. He will replace Howard Stringer on April 1.

Feb 1, 2012

Nomura returns to profit helped by wholesale business

TOKYO, Feb 1 (Reuters) – Nomura Holdings,
Japan’s largest brokerage, returned to profit in the last
quarter thanks to a big revenue increase in its fixed income and
equities businesses.

The upswing in profits still leaves Nomura vulnerable to a
possible credit downgrade by Moody’s Investors Service, which
put Nomura’s debt on review in November, citing losses in its
overseas capital markets operations. A decision is expected
within days.

Jan 31, 2012

Moody’s, weak outlook loom over Nomura results

TOKYO, Feb 1 (Reuters) – Nomura Holdings,
Japan’s top brokerage, is expected to show on Wednesday that it
roughly broke even in the latest quarter despite a big one-off
investment gain, exposing its weak earnings power and
underscoring fears of a credit downgrade.

The results will come three weeks after the abrupt departure
of two senior ex-Lehman Brothers bankers, which highlighted the
poor performance of its wholesale operations and raised
questions over its overseas strategy.

Jan 31, 2012

Daiwa posts $283 mln Q3 loss, cuts more jobs

TOKYO, Jan 31 (Reuters) – Daiwa Securities Group
, Japan’s second-biggest brokerage, booked its fourth
consecutive quarterly loss on Tuesday on a drop in trading
commissions and the firm expanded a cost-cutting plan to a total
of 500 overseas jobs.

The loss underscores the challenges facing Daiwa as it
scrambles to cut costs to cope with dwindling revenues in Japan
and establish a niche in overseas markets where it lacks the
scale to go head-to-head with the biggest banks.

Jan 13, 2012

TPG willing to invest $1 bln in Olympus in joint deal – source

TOKYO (Reuters) – Private equity firm TPG Capital TPG.UL is willing to invest about $1 billion in Japan’s Olympus Corp (7733.T: Quote, Profile, Research) in a joint deal with Sony Corp (6758.T: Quote, Profile, Research) or another suitor circling the scandal-hit firm, a person with knowledge of the matter said.

TPG has informed executives at Sony, Canon Inc (7751.T: Quote, Profile, Research), Fujifilm Holdings (4901.T: Quote, Profile, Research) and Panasonic Corp (6752.T: Quote, Profile, Research) of its interest in providing capital and expertise to help revive the maker of medical equipment and cameras, the person said.