TOKYO, April 8 (Reuters) – The rise in Japan’s sales tax to
8 percent that took effect last week has driven a boom-and-bust
in sales of high-priced items like jewellery but passed with
little impact on sales of daily necessities, two leading
Japanese retailers said on Tuesday.
Takashimaya Co, Japan’s third-biggest department
store operator, said the last-minute rush of demand in March had
been stronger than the company anticipated, especially for items
like watches, jewellery and luxury brands. As a result,
Takashima sees a pullback in sales starting this month that will
continue through summer, the company’s president said.
TOKYO/MUMBAI (Reuters) – India’s Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion (1.9 billion pounds), betting it can fix factory quality glitches that plagued the current owner, Japan’s Daiichi Sankyo Co, and got Ranbaxy India-made drugs barred from the United States.
The all-share transaction, the biggest pharmaceutical sector deal in the Asia-Pacific region this year, will create the world’s fifth-largest maker of generic drugs. The acquisition comes as the pace of consolidation increases in a market that’s primed for growth in the U.S. and emerging markets and could be worth $335 billion globally by 2017, according to Lucintel.
TOKYO (Reuters) – Sun Pharmaceutical Industries Ltd (SUN.NS: Quote, Profile, Research) said it will buy Ranbaxy Laboratories Ltd (RANB.NS: Quote, Profile, Research) in a $3.2 billion all-share deal, creating the world’s fifth-largest generic drug maker from two firms struggling with quality issues in the lucrative United States market.
Ranbaxy, India’s biggest drugmaker by sales and 63.4 percent owned by Japan’s Daiichi Sankyo Co Ltd, is banned from exporting drug ingredients to the U.S. Sun Pharmaceutical’s Karkhadi plant is also barred from shipping products by the U.S. Food and Drug Administration.
TOKYO, April 7 (Reuters) – India’s Sun Pharmaceutical
Industries Ltd said it will buy Ranbaxy Laboratories
Ltd in a $3.2 billion all-share deal, creating the
world’s fifth-largest generic drug maker from two firms
struggling with quality issues in the lucrative United States
Ranbaxy, India’s biggest drugmaker by sales and 63.4 percent
owned by Japan’s Daiichi Sankyo Co Ltd, is banned from
exporting drug ingredients to the U.S. Sun Pharmaceutical’s
Karkhadi plant is also barred from shipping products by the U.S.
Food and Drug Administration.
TOKYO (Reuters) – Partners Toshiba Corp of Japan and SanDisk Corp of the United States separately filed civil lawsuits against South Korea’s SK Hynix Inc, seeking damages over the suspected theft of data related to their flagship flash memory chip technology used in smartphones and tablet computers.
SK Hynix said on Friday it had not yet received the litigation and had no comment to make. Hynix competes with both Toshiba and SanDisk, partners in flash memory technology for nearly 15 years, in supplying chips to device makers.
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.