TOKYO, July 29 (Reuters) – Nomura Holdings Inc
reported a second straight quarter of profit decline as
investors turned cautious on Japan’s economic recovery prospects
and held back on stock trading, bringing brokerage commissions
far below last year’s surge.
Japan’s biggest investment banking and brokerage group
enjoyed a spike in fees when the government of Prime Minister
Shinzo Abe spurred trading by investors optimistic toward
TOKYO (Reuters) – Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) Chief Executive Carlos Ghosn raised doubts over Japanese Prime Minister Shinzo Abe’s call to appoint women to 30 percent of top jobs by 2020, saying rushing to meet such a target could set the firm and its staff up for failure.
Abe issued his call as part of a strategy to encourage more women to work in the world’s third-biggest economy, replenishing Japan’s dwindling workforce in a rapidly ageing population. Yet with women now filling just 1 percent of corporate executive committee jobs, the target is ambitious.
TOKYO, July 3 (Reuters) – Mizuho Financial Group Inc’s
new board chairwoman, who was appointed to improve
governance after a mob loan scandal, said top management had
become too distant from the front line.
The Japanese bank was reprimanded in September for failing
to act two years after learning that a subsidiary had extended
loans to “anti-social forces” – a euphemism for organised crime.
TOKYO (Reuters) – Japan’s parliament voted on Wednesday to outlaw possession of child pornography after years of international calls for a crackdown, but avoided a clampdown on sexually explicit manga comics and animation depicting young children.
Japan is the last OECD nation to criminalize possession of child pornography, although it outlawed production and distribution in 1999, and has long been considered a safe haven for those buying child pornography.
TOKYO, June 6 (Reuters) – Japan’s government sees better
corporate governance as crucial to boosting the competitiveness
of its business sector, but will leave new rules such as the
number of independent directors up to an expert panel to decide,
a senior Japanese lawmaker said.
The country’s listed companies are currently not required to
appoint independent directors, but a new corporate law revision
due to be adopted soon will encourage listed companies to hire
at least one outside director.
TOKYO/SINGAPORE May 30 (Reuters) – Japanese Prime Minister
Shinzo Abe toured Singapore’s two lavish casino resorts on
Friday as his country considers allowing casino gambling to
boost tourism and attract investment.
Abe, in the city-state to deliver a speech at a regional
defence and security conference, spent 40 minutes visiting
Marina Bay Sands, the three pronged waterfront resort built by
U.S. billionaire Sheldon Adelson’s Las Vegas Sands, and
then headed over to Resorts World on Sentosa island, owned by
TOKYO, May 26 (Reuters) – A new Japanese investment fund is
set to join a small but growing band of “friendly” activists,
shunning hostile tactics that have previously failed to generate
change and instead working with management to improve
Yasunori Nakagami, chief executive and co-founder of newly
established Misaki Capital, said he plans to launch an
open-ended fund in July with a brief to invest in around 15
Japanese companies where he sees capacity for growth – with
advice from shareholders such as himself.
TOKYO, May 16 (Reuters) – When activist investor Brian
Heywood first met the newly appointed CEO of Japanese musical
instruments maker Roland Corp over a year ago, he
launched into a passionate discussion about music rather than
the company’s weak finances.
That friendly approach led to a series of conversations on
how to improve its business and culminated in an announcement
this week of a joint 42.6 billion yen ($419.4 million)
management buyout (MBO) by CEO Junichi Miki and Heywood’s Taiyo
Pacific Partners, a fund based in the United States but focused
TOKYO (Reuters) – Prime Minister Shinzo Abe is set to outline plans to improve corporate governance as part of an updated economic strategy next month, aiming to overturn Japan’s reputation for neglecting shareholders and salvage his reform credentials.
The draft plans, which face resistance from Japan’s largest business lobby, would push companies to appoint more outside directors as part of a package aimed in part at winning back overseas investors who have turned skeptical of Abe’s ability to push through politically sensitive reforms on labor and trade.
TOKYO, April 23 (Reuters) – Seibu Holdings Inc rose
almost 11 percent on its first day of relisting on the Tokyo
stock market, after its IPO price was slashed due to growing
doubts over the strength of Japan’s economic recovery.
The railway and property company was delisted a decade ago
after a scandal involving falsified shareholder records. Its
shares opened at 1,600 yen on Wednesday, in line with its
initial public offering price, and then closed 10.6 percent
higher at 1,770 yen, outperforming the Nikkei 225 average
which finished up 1.1 percent.