TOKYO, Sept 10 (Reuters) – Japan’s largest recruitment
company Recruit Holdings said it is planning an
initial public offering worth 193 billion yen ($1.8 billion),
which will test investor appetite for big Tokyo listings after
some weak debuts this year.
The offering will help Recruit, which aims to be the world’s
biggest human resources firm by 2020, pay for future
acquisitions. Keen to offset a shrinking market in Japan, the
company has snapped up a slew of foreign companies in recent
years, including online job search site Indeed.com.
TOKYO, Sept 4 (Reuters) – Japan’s new welfare minister
tasked with reforming the country’s $1.2 trillion pension fund
is a Harvard-educated former central banker with a sharp sense
of the reforms that markets want to see and a willingness to
buck the system.
Yasuhisa Shiozaki, 63, has a reputation as a policy wonk
with a strong resume, but critics say he has sometimes lacked
the finesse to navigate ruling party politics.
TOKYO, Aug 29 (Reuters) – As Japanese families gathered
earlier this month for the traditional “Obon” festival honouring
ancestors, some elderly parents broached an awkward but
increasingly critical topic: planning for inheritance.
Japan’s government will increase the inheritance tax rate in
January, while tax relief measures on gifting will be expanded,
in moves aimed at encouraging wealthy, older Japanese to either
spend or pass on their savings before they die.
TOKYO, Aug 1 (Reuters) – Nomura Holdings Inc
doubled its profit target on Friday, saying it aims to take
advantage of Japan’s emergence from years of deflation and
sluggish economic growth to attract more customer funds.
Japan’s biggest brokerage and investment banking group said
it is targeting earnings per share (EPS) of 100 yen (97 US
cents) by Tokyo Olympics year 2020.
TOKYO, July 31 (Reuters) – At the New York Stock Exchange
last September, buoyed by high hopes for Japan’s economic
revival, Prime Minister Shinzo Abe urged Wall Street to “Buy my
Abenomics!” Amid sagging growth and Tokyo listing flops,
investors are now looking for a discount.
The Tokyo bourse’s Nikkei benchmark is down 4 percent this
year as euphoria over ‘Abenomics’ – Abe’s radical reflationary
policies – has given way to more cautious views of Japan Inc’s
recovery. Investors in initial public offerings have little
appetite for frothy valuations with the world’s third-biggest
economy likely having shrunk in the second quarter after a sales
tax hike, and industrial output on the wane.
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.