TOKYO, Nov 8 (Reuters) – Japan’s biggest property developer
Mitsui Fudosan Co has joined forces with media firm
Fuji Media Holdings and builder Kajima Corp to
develop a proposed casino and resort complex in Tokyo.
After more than a decade of lobbying by lawmakers, a bill to
legalise casino gambling is seen as having a decent chance of
passing next year with the business-friendly Liberal Democratic
Party in power and after Tokyo won the bid to host the Summer
Olympics in 2020.
TOKYO, Nov 6 (Reuters) – A prominent Japanese entrepreneur
is quitting a key panel advising Prime Minister Shinzo Abe,
saying the government is stifling the economic reforms it has
Hiroshi Mikitani, chief executive of e-commerce firm Rakuten
Inc, said on Wednesday he was girding for a legal fight
with Abe’s government over the regulation of online drug sales,
an area his company sees as a lucrative business opportunity.
TOKYO, Oct 29 (Reuters) – Nomura Holdings Inc and
Daiwa Securities Group Inc reported jumps in quarterly
profit from a year earlier, but slowing trade in Tokyo stocks
has knocked some wind out of a resurgence of Japan’s top two
Both companies have seen their fortunes improve markedly
this year thanks largely to the aggressive economic growth
agenda of Prime Minister Shinzo Abe, who came to power in
December, renewing investor interest in Japanese stocks.
TOKYO (Reuters) – Nomura Holdings Inc (8604.T: Quote, Profile, Research, Stock Buzz) reported a 14-fold jump in quarterly profit from a year earlier, but slowing trade in Tokyo stocks has knocked some wind out of a resurgence of Japan’s largest investment bank.
Nomura has seen its fortunes improve markedly this year thanks largely to the aggressive economic growth agenda of Prime Minister Shinzo Abe, who came to power in December, renewing investor interest in Japanese stocks.
TOKYO, Oct 25 (Reuters) – Japan’s Line Corp, creator of the
fast growing social messaging app Line, may choose an overseas
exchange for an expected IPO next year, banking sources with
knowledge of the matter said, within months of a high profile
listing by Twitter.
One of the sources, who spoke on condition of anonymity,
said the offering could value Line, a subsidiary of South
Korea’s Naver Corp, at around $10 billion.
SAPPORO, Japan, Oct 10 (Reuters) – When a Tokyo-based
investment manager set out to win business from a pension fund
in northern Japan, the cost included dozens of nights drinking
at Club Godfather, a discrete watering hole with a $200 cover
charge and kimono-clad hostesses.
Kazuyoshi Takahama, now 71, was treated to more than 50
nights out at the club in Sapporo as KTOs Capital Partners, a
hedge fund, lobbied for a share of the $245 million pension fund
he helped oversee as its chairman, prosecutors say. Takahama
favored shochu, a local liquor, while his free-spending hosts
ordered up expensive wines.
TOKYO, Oct 4 (Reuters) – Japan would establish an
independent gaming regulator modelled on the authorities that
police casinos in Las Vegas and Singapore under a draft plan to
legalise gambling in a market seen as potentially the
second-largest in the world.
The policy outline, which was prepared by Japanese lawmakers
who favour casinos and reviewed by Reuters, outlines broad
standards for licensing and regulating casino operators and
TOKYO/FRANKFURT (Reuters) – Germany’s biggest bathroom fittings company Grohe has been snapped up by Japanese building products group Lixil (5938.T: Quote, Profile, Research, Stock Buzz) in a 3.06 billion euro ($4.13 billion) deal, marking the largest ever investment by Japan in Europe’s biggest economy.
Lixil’s leveraged buyout of Grohe from financial investor TPG Capital TPG.UL and the private equity arm of Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) shows renewed appetite by Japanese firms for deals outside their home market.
TOKYO, Sept 26 (Reuters) – Lixil Group Corp has
reached a basic agreement to buy Grohe, Europe’s
biggest bathroom installations maker, for about 400 billion yen
($4 billion), marking Japan Inc’s second multibillion dollar
acquisition in Europe this month.
Although a weaker yen has put a damper on the pace of
Japanese acquisitions abroad this year, many companies remain
eager to snap up overseas firms as they confront limited growth
opportunities in their saturated home market.
TOKYO, Sept 25 (Reuters) – Applied Materials Inc’s
$10 billion acquisition of Tokyo Electron Ltd is more
than just a milestone foreign takeover in Japan – it’s a rare
forward-looking deal in a country where selling to an overseas
rival is usually a last resort.
U.S.-based Applied Materials, the world’s largest maker of
chipmaking equipment, and third-ranked Tokyo Electron announced
the all-stock deal late on Tuesday. On
completion, it would be the biggest foreign takeover of a
Japanese manufacturer. While board representation is to be split
evenly, Applied Materials shareholders will own 68 percent of
the new company, keeping them firmly in control.