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Nov 4, 2015

Japan Post firms make bumper debut after $12 bln triple IPO

TOKYO, Nov 4 (Reuters) – Japan Post Holdings and its two
financial units burst out of the gate with gains of 16 to 33
percent on debut on Wednesday, after the government raised $12
billion from the triple IPO in Japan’s biggest privatisation
since 1987.

The listing of the national postal and savings giant is a
key step in Prime Minister Shinzo Abe’s ambitions to kick-start
Japan’s sluggish economy by encouraging risk-averse households
to invest or spend more of their low-yielding bank deposits.

Nov 4, 2015

Japan Post Bank could step up shift from JGBs to other assets – Pres

TOKYO, Nov 4 (Reuters) – Newly privatised Japan Post Bank Co
could accelerate a shift away from Japanese government
bonds in its $1.7 trillion portfolio, buying billions of dollars
of domestic and overseas equities to boost returns as a listed
company, its chief said.

“We have about 2 trillion yen ($16.6 billion) worth of
Japanese equities now. Within risks allowed, we may increase
them,” said bank President Masatsugu Nagato, in an interview
before Wednesday’s market debut in Japan’s biggest privatisation
in 30 years. “We may also increase overseas equities.”

Oct 27, 2015

Sharp told by lenders to find LCD partner within months: sources

TOKYO (Reuters) – Sharp Corp’s main banks are telling it to find a buyer for all or part of its ailing LCD business within months, pushing it to get more capital elsewhere as they have already footed two huge bailouts, sources familiar with the matter said.

Despite a $1.7 billion rescue in May, its second major package in three years, persistent losses have meant Sharp can’t make the investments it needs to keep its screen business competitive, they said.

Oct 27, 2015

Australia’s NAB agrees to sell insurance arm to Nippon Life for $1.7 bln -source

TOKYO/SYDNEY, Oct 27 (Reuters) – National Australia Bank Ltd
has agreed to sell 80 percent of its life insurance arm
to Japan’s Nippon Life Insurance Co for about $1.7
billion, a person familiar with the matter told Reuters on
Tuesday.

Australia’s biggest lender by assets is expected to announce
the sale on Wednesday when it reports earnings, said the person,
speaking on condition of anonymity. NAB put its shares on a
trading halt, saying it was set to announce a “material
transaction”, while a Nippon Life spokesman declined to comment.

Oct 26, 2015

Japan Post IPOs priced at top of range as government mines savings mountain

TOKYO (Reuters) – In Japan’s biggest privatization in three decades, the national postal and savings firm priced the third of a trio of share sales at the top of its range as mom-and-pop investors scrambled for a piece of one of the most trusted names in the country.

Japan Post Holdings Co (6178.T: Quote, Profile, Research, Stock Buzz) on Monday followed the pattern set by its banking and insurance arms, setting the maximum available price after book-building targeted squarely at retail investors across the nation. The sale of just over 10 percent of the firm at 1,400 yen per share will raise $5.7 billion.

Oct 26, 2015

Japan Post IPOs priced at top of range as govt mines savings mountain

TOKYO, Oct 26 (Reuters) – In Japan’s biggest privatisation
in three decades, the national postal and savings firm priced
the third of a trio of share sales at the top of its range as
mom-and-pop investors scrambled for a piece of one of the most
trusted names in the country.

Japan Post Holdings Co on Monday followed the
pattern set by its banking and insurance arms, setting the
maximum available price after book-building targeted squarely at
retail investors across the nation. The sale of just over 10
percent of the firm at 1,400 yen per share will raise $5.7
billion.

Oct 26, 2015

Suntory not considering IPO or large acquisitions – president

TOKYO (Reuters) – Japan’s Suntory Holdings Ltd [SUNTH.UL] will need at least three years to bed down its integration with U.S. bourbon maker Beam and in the meantime it will not consider an initial public offering or any large-scale acquisitions, its president said.

“Unless we achieve successful post-merger integration, we cannot compete in the global market,” Takeshi Niinami said in an interview with Reuters on Monday.

Oct 22, 2015

Exclusive: SMFG to book first-half impairment loss of $500 million on BTPN stake – sources

TOKYO (Reuters) – Sumitomo Mitsui Financial Group Inc (SMFG) is planning to book an impairment loss of around $500 million on its minority stake in Indonesian lender PT Bank Tabungan Pensiunan Nasional Tbk (BTPN), sources with knowledge of the matter said on Thursday.

Japan’s third-largest lender by assets will book a 60 billion yen loss for the April-September period after shares of BTPN fell sharply this year in tandem with Indonesia’s broader market, said the sources, who were not authorized to discuss the matter publicly.

Oct 22, 2015

SMFG to book H1 impairment loss of $500 mln on BTPN stake -sources

TOKYO, Oct 22 (Reuters) – Sumitomo Mitsui Financial Group
Inc (SMFG) is planning to book an impairment loss of
around $500 million on its minority stake in Indonesian lender
PT Bank Tabungan Pensiunan Nasional Tbk (BTPN),
sources with knowledge of the matter said on Thursday.

Japan’s third-largest lender by assets will book a 60
billion yen loss for the April-September period after shares of
BTPN fell sharply this year in tandem with Indonesia’s broader
market, said the sources, who were not authorised to discuss the
matter publicly.

Oct 19, 2015

Japan Post prices bank, insurer IPOs at top of range, says demand ‘significant’

TOKYO, Oct 19 (Reuters) – State-owned Japan Post on Monday
set prices for separate initial public offerings of its bank and
insurance arms at the top of their ranges, indicating strong
demand from retail investors in what will be Japan’s biggest
privatisation in three decades.

The two companies, worth a combined $65 billion at the
listing prices, and their parent Japan Post Holdings Co
are seeking to raise a combined 1.4 trillion yen ($11.8 billion)
in a triple IPO set for Nov. 4. Book-building for the Japan Post
Holdings sale continues, with pricing due on Oct. 26.