Nathan's Feed
Nov 6, 2013

Rakuten CEO slams Abenomics failings as quits Japan panel

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
promised.

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.

Oct 29, 2013

Nomura, Daiwa profits jump, but Abenomics momentum slows

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
investment banks.

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.

Oct 29, 2013

Nomura quarterly profit jumps but momentum slows

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.

Oct 25, 2013

Japan’s Line messaging app considers overseas IPO next year -sources

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.

Oct 10, 2013

Lavish nights at Club Godfather opened door to Japan pension fund bribery case

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.

Oct 4, 2013

Japan casinos would get Vegas-style regulator under legalisation plan

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
their partners.

Sep 26, 2013

Lixil to buy Grohe in $4 billion landmark deal

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.

Sep 26, 2013

Lixil reaches basic agreement to buy Grohe for $4 bln

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.

Sep 25, 2013

Tokyo Electron takeover could be a mold-breaker for Japan

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.

Sep 11, 2013

Japan regulator probing Deutsche Bank entertainment of pension clients: sources

TOKYO (Reuters) – Japan’s securities market watchdog is investigating whether Deutsche Bank AG (DBKGn.DE: Quote, Profile, Research, Stock Buzz) employees provided excessive entertainment to Japanese pension fund executives in breach of regulations, sources with knowledge of the matter said.

The Securities and Exchange Surveillance Commission (SESC) found evidence of potential infractions during a regular audit of Deutsche Securities Inc, the German bank’s investment banking arm in Tokyo, said the sources, who spoke on condition they not be identified because the investigation is ongoing.