Taiga's Feed
May 24, 2013

Dai-ichi expands in Southeast Asia with Panin Life deal -source

TOKYO, May 24 (Reuters) – Japan’s Dai-ichi Life Insurance Co
Ltd has agreed to buy a 40 percent stake in Panin Life
from the parent of the Indonesian insurer for around 30 billion
yen ($295 million), a source with direct knowledge of the matter

The stake acquisition by one of Japan’s top four life
insurers is the latest in a string of deals by increasingly
acquisitive Japanese firms. Dai-ichi said this month it plans to
spend 300 billion yen on M&A deals in the next two years.

May 24, 2013

Japan life insurers may keep money at home as bond yields rise

TOKYO, May 24 (Reuters) – Japanese life insurers are giving
signs that they may not send much more of their $3 trillion in
assets abroad this year, as Japanese government bond yields
start picking up, despite hinting last month that they might
boost their foreign bond holdings to seek higher returns.

Investors have been spurred to revise their market outlook
by a sharp rise in Japanese bond yields over the past two weeks
to one-year highs, taking the market by surprise. Just last
month the benchmark yield fell to a record low after the Bank of
Japan announced a massive monetary expansion plan.

May 24, 2013

Japan’s Dai-ichi to buy 40 pct in Indonesia’s Panin Life -source

TOKYO, May 24 (Reuters) – Japan’s Dai-ichi Life Insurance Co
Ltd has agreed to buy a 40 percent stake in Indonesia’s
Panin Life for about 30 billion yen ($295 million), a source
with direct knowledge of the matter said on Friday.

The move by one of Japan’s top four life insurers is the
latest in a string of deals by increasingly acquisitive Japanese
firms in the fast-growing region.

May 23, 2013

Sushi’s Abenomics wave: posh tuna in, plain mackerel out

TOKYO, May 24 (Reuters) – Investors in Japan might keep a
close eye on sales of the homely horse mackerel as an early
warning of any trouble ahead.

The good news is that in the more confident Japan of 2013,
tuna remains king.

So says Mizuho Securities economist Kenta Ishizu, who
believes he has found a leading indicator of Japanese consumer
demand that relies on two of the most common items on a sushi
menu: Japanese horse mackerel and tuna.

May 15, 2013

For Japan lenders, Abenomics’ pain comes first, gain later

TOKYO, May 15 (Reuters) – Japan’s top three banks forecast
weaker annual earnings as aggressive monetary easing squeezes
them out of a profitable government bond trade and forces them
to rely more on bread-and-butter lending where margins remain

The cautious outlooks delivered by Mitsubishi UFJ Financial
Group Inc (MUFG), Mizuho Financial Group Inc, and
Sumitomo Mitsui Financial Group Inc (SMFG) highlight
the tough transition facing the industry after the central
bank’s radical easing in April, including a plan to purchase 70
percent of Japanese government bonds issued each month.

May 10, 2013

Japan lender Resona says to repay $8.8 bln govt debt in 5 years

TOKYO, May 10 (Reuters) – Japanese lender Resona Holdings
Inc plans to pay off the 870 billion yen ($8.8 billion)
debt it owes the government by early 2018, ending a bailout that
began over a decade ago.

Under the plan announced on Friday, Resona will buy back
from the government preferred shares worth up to 300 billion yen
and 100 billion yen worth of common shares during the current
financial year, which ends in March 2014.

May 9, 2013

SMFG pays top dollar for Indonesia bank stake in retail push

TOKYO/HONG KONG, May 9 (Reuters) – Sumitomo Mitsui Financial
Group’s deal to buy a $1.5 billion stake in Indonesia’s
BTPN at high valuations marks the beginning of an
aggressive push by cash-rich Japanese lenders into retail
banking in other Asian markets.

Indonesia is Southeast Asia’s biggest economy but has one of
Asia’s most underdeveloped banking markets, giving it great
allure for foreign investors even if regulatory worries have
impeded some deals.

May 8, 2013

SMBC to buy up to 40 percent of Indonesian bank BTPN

TOKYO/HONG KONG (Reuters) – Sumitomo Mitsui Banking Corp (SMBC) said it agreed to acquire as much as 40 percent of Indonesian lender BTPN (BTPN.JK: Quote, Profile, Research, Stock Buzz), giving the Japanese bank a foothold in the fast-growing Southeast Asian economy.

SMBC’s pursuit of Indonesia’s seventh-biggest bank underscores a sustained push abroad by Japanese companies to beat sluggish growth in their home market.

Apr 26, 2013

Japan’s SMBC said in talks for TPG’s Indonesia bank stake

HONG KONG/TOKYO (Reuters) – Japan’s Sumitomo Mitsui Banking Corp is in advanced talks to buy a $1.2 billion stake in BTPN, an Indonesian lender backed by TPG Capital, people familiar with the matter told Reuters.

SMBC’s pursuit of Indonesia’s seventh-largest bank by market value is another example of a Japanese company seeking to grow in that country’s fast growing financial services market. A sale by TPG would also provide another case of a U.S. private equity investor raking in a massive profit from an early investment in an Asian financial institution.

Apr 21, 2013

Japanese banks say hola, go local as they woo overseas borrowers

TOKYO, April 22 (Reuters) – Japan’s banking titans are
hiring Spanish-speaking bankers to win new business in Latin
America and handing out loans to junk-grade borrowers in the
United States as they probe deeper overseas to fight meagre
returns at home.

Lenders such as Sumitomo Mitsui Financial Group Inc (SMFG)
have ramped up overseas lending since the euro zone
debt crisis sent European rivals packing. The move abroad was
given a new impetus this month after the central bank unveiled a
stimulus plan that will plunge Japan into an ultra-low monetary
environment, further eroding razor-thin loan margins and cutting
returns on Japanese government bonds.