TOKYO, April 23 (Reuters) – Japan Post Holdings Co
named former chairman of Citibank Japan Masatsugu
Nagato president of Japan Post Bank ahead of planned IPOs by the
state-owned mail and financial giant and its two subsidiaries
later this year.
Nagato, 66, is scheduled to become president of Japan Post’s
banking unit on May 11 pending approval at a shareholder meeting
on the same day, the company said on Thursday.
TOKYO, April 22 (Reuters) – ANA Holdings Inc has
agreed to acquire a stake of up to 19.9 percent in bankrupt
budget carrier Skymark Airlines Inc, gaining access
to highly coveted landing slots and strengthening its lead over
rival Japan Airlines Co.
Under the deal, Japanese private equity firm Integral Corp,
which has provided funds to keep Skymark in business since its
bankruptcy in January, will hold just over 50 percent.
TOKYO (Reuters) – Japan’s biggest airline, ANA Holdings Inc (9202.T: Quote, Profile, Research, Stock Buzz), will buy a stake of less than 20 percent in Skymark Airlines Inc (SKALF.PK: Quote, Profile, Research, Stock Buzz) as part of a rescue plan for the bankrupt domestic budget carrier, people familiar with the matter told Reuters.
Private equity firm Integral Corp has secured a majority stake, according to the sources. ANA will acquire less than 20 percent. If it held 20 percent or more, it could be forced to surrender some of its landing rights at Tokyo’s Haneda airport.
TOKYO, April 18 (Reuters) – Japan’s biggest airline, ANA
Holdings Inc, will buy a stake of less than 20 percent
in Skymark Airlines Inc as part of a rescue plan for
the bankrupt domestic budget carrier, people familiar with the
matter told Reuters.
Private equity firm Integral Corp has secured a majority
stake, according to the sources. ANA will acquire less than 20
percent. If it held 20 percent or more, it could be forced to
surrender some of its landing rights at Tokyo’s Haneda airport.
TOKYO (Reuters) – Japan’s Orix Corp (8591.T: Quote, Profile, Research, Stock Buzz) is scouting for acquisitions to achieve a goal of doubling its $260 billion asset management business and is looking overseas for targets after missing the boat at home, its chief executive said.
Orix, with a diverse portfolio of businesses, including a bank, an insurer and a professional baseball team, made a big bet on asset management in 2013, when it bought investment manager Robeco from Dutch cooperative lender Rabobank [RABO.UL] for about 1.9 billion euros. It is now seeking to scale up.
TOKYO (Reuters) – Nippon Life Insurance Co [NPNLI.UL] is looking for acquisition targets both in developed and emerging markets, including asset managers in the United States, as the domestic-focused insurer seeks to diversify sources of income.
Nippon Life’s growing interest in overseas insurers and asset management comes as Japanese life insurers face diminishing returns from Japanese government bond (JGB) investment and weak prospects in their mainstay death benefit insurance sales.
TOKYO (Reuters) – A global regulatory review on how to measure default risks on loans and other assets could have a negative impact on bank operations, potentially curbing lending, the new head of Japan’s banking industry body said.
Proposed changes in how to allocate risk weightings and other risk calculations “could put considerable constraints on financial institutions,” Yasuhiro Sato, who became chairman of Japanese Bankers Association on Wednesday, said in an interview.
March 18 (Reuters) – Japan Post Holdings Co Ltd
said on Wednesday President Taizo Nishimuro will double as head
of its banking unit, as the state-owned giant has not been able
to find a successor to the current top.
Nishimuro said the search to replace Japan Post Bank
President Yoshiyuki Izawa is going on and the company wants to
decide the top as soon as possible. Izawa, a former Mitsui & Co
executive, is stepping down at the end of March.
TOKYO (Reuters) – Japan’s Shizuoka Bank (8355.T: Quote, Profile, Research, Stock Buzz) sees no merit in merging with rival regional lenders for its long-term survival and will instead focus on boosting its online presence, its president said.
“Banks’ core business is deposit-taking and lending and it is not so profitable now,” Katsunori Nakanishi, president and CEO of Japan’s fourth-largest regional lender, told Reuters in an interview.
TOKYO (Reuters) – Loss-making Japanese electronics firm Sharp Corp meets its main banks on Thursday in an effort to secure its second major bailout since 2012, betting they will have little choice but to pay up despite their call for more drastic overhauls.
Sharp Chief Executive Kozo Takahashi will meet officials from Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, hoping to discuss further funding and buy time, people with direct knowledge of the matter said.