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Jan 19, 2012

Nippon Life to buy 26 pct of Reliance Cap fund unit

MUMBAI/TOKYO, Jan 19 (Reuters) – Nippon Life Insurance
agreed to pay $290 million for a 26 percent stake in
the asset management unit of India’s Reliance Capital Ltd
, joining other foreign fund managers seeking to tap
into the country’s growing middle class.

The deal comes less than a year after Nippon Life, faced
with a stagnant market at home, paid $680 million for a 26
percent stake in life insurance business of Reliance Capital,
which is controlled by billionaire Anil Ambani.

Jan 10, 2012

Japan state fund sees rise in overseas M&A

TOKYO (Reuters) – A Japanese state-sponsored fund behind a string of headline-grabbing deals said its investment in overseas acquisitions by Japanese companies is likely to increase this year, helped by a stronger yen and an increase in asset sales abroad.

“We have been receiving a lot of (requests for investment in) overseas acquisitions. We are likely to see a substantial number of such deals this year,” Kimikazu Noumi, CEO of Innovation Network Corp of Japan (INCJ), said in an interview on Tuesday.

Dec 29, 2011

Japan’s SMFG says to see more gains from Treasuries

TOKYO, Dec 30 (Reuters) – Sumitomo Mitsui Financial
Group’s (8316.T: Quote, Profile, Research) investment into U.S. Treasuries US10YT=RR is
likely to boost the bank’s profits again next year as yields on
the paper have further to fall, the president of Japan’s
third-largest lender by assets said on Thursday.

“Yields on Japanese government bonds have not moved much,
but we are seeing sharp yield drops in the United States and we
have been making gains from Treasury trading,” Koichi Miyata
told Reuters in an interview, with his comments embargoed until
Friday.

Dec 29, 2011

SMFG says to see more gains from Treasuries

TOKYO, Dec 30 (Reuters) – Sumitomo Mitsui Financial
Group’s (8316.T: Quote, Profile, Research) investment into U.S. Treasuries US10YT=RR is
likely to boost the bank’s profits again next year as yields on
the paper have further to fall, the president of Japan’s
third-largest lender by assets said on Thursday.

“Yields on Japanese government bonds have not moved much,
but we are seeing sharp yield drops in the United States and we
have been making gains from Treasury trading,” Koichi Miyata
told Reuters in an interview, with his comments embargoed until
Friday.

Dec 21, 2011

Tokio Marine to buy Delphi Financial for $2.7 bln

TOKYO, Dec 21 (Reuters) – Tokio Marine said
on Wednesday it will buy U.S. insurer Delphi Financial Group
for $2.7 billion, the latest in a string of deals by
Japan’s second-largest property-casualty insurer aimed at
growing outside its mature home market.

Tokio Marine said it would pay $43.875 for each class A
share, compared with the last traded price in New York of
$25.43.

Dec 16, 2011

Japan regulator penalises Citi, UBS

TOKYO, Dec 16 (Reuters) – Japan’s financial regulator
slapped penalties on the Japanese units of Citigroup and
UBS on Friday, including a month-long suspension of
retail marketing of financial products by a Citi unit for
violating rules on sales of such products.

It is the third regulatory sanction on Citi in Japan since
2004 and the company said the CEO of Citibank Japan will step
down while the bank looks for a Japanese industry veteran to
fill the position.

Dec 9, 2011

Japan watchdog seeks penalty for Citi unit -sources

TOKYO, Dec 9 (Reuters) – Japanese financial
authorities are set to take punitive action against a Citigroup
unit, accusing its employees of trying to influence a
short-term interest rate benchmark, three sources familiar with
the matter said on Friday.

The move would be a new headache for the U.S. financial
giant, with sources also saying last week that it is under
scrutiny for a separate matter.

Nov 29, 2011

For bulging Japanese banks, Europe crisis brings two cheers

TOKYO, Nov 29 (Reuters) – More and more financial
industry executives are finding themselves out of jobs as the
global economy lurches into a slowdown, but for bankers in
charge of overseas loans at Japan’s SMBC things couldn’t be
better at work.

Flush with liquidity, Sumitomo Mitsui Banking Corp (SMBC)
and Japan’s other top banks are seeing a surge in loan requests
and billions of dollars worth of asset-sale offers as European
rivals scramble to trim balance sheets and reduce lending to
weather the region’s deepening debt crisis.

Nov 25, 2011

Olympus ex-CEO Woodford mobbed as enters boardroom

TOKYO (Reuters) – The ex-CEO of Japan’s disgraced Olympus Corp arrived on Friday for a boardroom showdown with the directors who had sacked him, as the firm’s share price leapt on hopes he could play a role in putting a huge accounting scandal behind it.

Michael Woodford, still an Olympus director despite being fired as CEO a month ago and blowing the whistle over the scandal, made a rock-star entrance at Olympus headquarters, pushing past reporters and TV crews to enter the building.

Nov 21, 2011

Aozora CEO sees M&A as option to enhance value

TOKYO, Nov 21 (Reuters) – The head of Japan’s Aozora
Bank (8304.T: Quote, Profile, Research) said he would consider the acquisition of a rival
or even the sale of Aozora as among “strategic options to
enhance corporate value” as it explores ways to pay back $2.3
billion in public money.

“I have to consider everything, whatever enhances our
corporate value to allow me to come closer to paying back the
government,” said Aozora CEO Brian Prince said in an interview
with Reuters on Monday.