TOKYO, March 3 (Reuters) – An acquisition of preppy J.Crew
by Fast Retailing could fit snugly between its Uniqlo
basics and more upmarket Theory brands, but the Japanese
clothing firm is likely to balk at the $5 billion price tag
J.Crew is said to be asking for.
One banker in Tokyo, who is not involved with Fast
Retailing’s talks with J.Crew but is familiar with Chief
Executive Tadashi Yanai’s thinking, said the billionaire had
looked at the deal “but would not pay $5 billion for J.Crew.”
TOKYO (Reuters) – Fast Retailing Co’s (9983.T: Quote, Profile, Research, Stock Buzz) casual clothing brand Uniqlo is rethinking its “Made for All” strategy, looking to offer lower priced lines in smaller Asian cities and more generous sizes to fit the U.S. market, a top executive said on Tuesday.
Asia’s biggest clothing retailer is studying ways to offer a better fit for U.S. consumers – a move that could help Uniqlo expand its customer base in the world’s biggest market as it adds more stores in suburban areas.
TOKYO (Reuters) – Japanese e-commerce giant Rakuten Inc, controlled by billionaire Hiroshi Mikitani, will buy call and messaging app provider Viber Media Inc for $900 million in a deal that would more than double the number of users in its digital empire.
Rakuten offers services from financing to shopping to online video on its e-commerce platform, the largest in Japan. But in the face of a shrinking population and weak consumer spending at home, Mikitani is trying to re-invent Rakuten as a one-stop-site for a global audience.
TOKYO, Feb 14 (Reuters) – Japanese e-commerce giant Rakuten
Inc said on Friday it will buy call and messaging app
provider Viber Media Ltd for $900 million, aiming to use the
Cyprus-based company’s network in emerging markets to expand the
reach of its digital content.
Viber, run from Cyprus by Israeli entrepreneur Talmon Marco,
will add 300 million users to Rakuten’s existing 200 million
users, Chief Executive Hiroshi Mikitani told reporters in Tokyo.
TOKYO (Reuters) – Nintendo Co Ltd said it expects an operating loss of 35 billion yen ($336 million) for the year to end-March, citing much weaker-than-expected sales of its Wii U and 3DS game machines during the crucial holiday season.
The move reverses its previous forecast of a 100 billion yen profit and would mark the third consecutive year of operating losses for the embattled company, falling drastically short of the average estimate of a 54.7 billion yen profit in a survey of 18 analysts by Thomson Reuters I/B/E/S.
TOKYO (Reuters) – Japan’s securities regulator sanctioned the domestic investment banking unit of Deutsche Bank on Thursday and one of its employees was arrested for lavishly entertaining pension fund clients, an act considered bribery under the law.
The moves mark the latest crackdown by Japanese authorities on pension fund executives who are subject to the same anti-bribery laws as government employees because part of the money they manage is invested in the national pension scheme.
TOKYO, Dec 5 (Reuters) – Tokyo police on Thursday arrested a
Deutsche Securities employee and a former Japanese client of the
brokerage for suspected bribery after the Deutsche official
allegedly spent thousands of dollars to entertain him.
The Tokyo Metropolitan Police said it had detained
Deutsche’s Shigeru Echigo, 36, and 60-year-old Yutaka Tsurisawa,
a former official at a corporate pension fund affiliated with
Mitsui & Co.
TOKYO/WASHINGTON (Reuters) – Japan and ally the United States sharply criticized China’s move to impose new rules on airspace over islands at the heart of a territorial dispute with Tokyo, warning of an escalation into the “unexpected” if Beijing enforces the rules.
China’s government-run Xinhua news agency published coordinates for a newly established “East China Sea Air Defense Identification Zone,” which covers most of that sea and includes the skies over the disputed islands.
SEOUL/TOKYO, June 1 (Reuters) – Automakers in Japan and
South Korea continued to post solid gains in global sales in May
with Hyundai Motor and Kia Motors
benefiting from the sustained recovery of the U.S. market while
Japanese car sales were supported by government incentives for
Auto sales are among the earliest indicators of demand in
global economies and U.S. auto sales have proven to be a bright
spot while negative headlines from euro zone countries dims the
TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) said on Friday it would roll out eight compact car models tailored for emerging markets by 2015 in an attempt to catch up to front-runners such as Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) and General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz).
Toyota, which lost the crown as the world’s top automaker last year, is looking to reduce its dependence on the mature North American, European and Japanese markets. It wants to shift more of its weight to growth markets such as China, India and Brazil, where Volkswagen, GM and Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) have taken the lead.