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.
TOKYO, Feb 26 (Reuters) – Fukoku Mutual Life Insurance Co
has slashed its buying of Japanese government bonds because
market liquidity has dried up amid the Bank of Japan’s massive
bond-buying programme, the president of the midsize life insurer
said on Thursday.
Instead of JGBs, Fukoku is likely to continue buying foreign
bonds with hedges against currency swings in the fiscal year
starting in April as it seeks assets that offer higher yields
than domestic debt, Yoshiteru Yoneyama told Reuters.
TOKYO, Feb 23 (Reuters) – Japanese chemicals company Asahi
Kasei Corp has agreed to buy Polypore International
Inc’s energy storage business for $2.2 billion, betting
on the growth of hybrid and electric cars.
Both companies produce lithium-ion battery separators used
in electronic gadgets and automobiles, but Asahi Kasei President
Toshio Asano believes that the type produced by United
States-based Polypore — known as dry process separators — will
become the auto sector’s preferred option because of lower
SYDNEY/TOKYO (Reuters) – Financial giant Japan Post Holdings Co Ltd launched its global expansion strategy with its largest ever deal on Wednesday, agreeing a A$6.5 billion ($5.1 billion) takeover of Australian freight and logistics firm Toll Holdings Ltd.
The proposed cash acquisition would give Japan Post a reach spanning 55 countries and a surge in earnings power ahead of a planned listing later this year, as it aims to become a leading international logistics player as well as one of the world’s biggest financial institutions.
SYDNEY/TOKYO, Feb 18 (Reuters) – Financial giant Japan Post
Holdings Co Ltd launched its global expansion strategy with its
largest ever deal on Wednesday, agreeing a A$6.5 billion ($5.1
billion) takeover of Australian freight and logistics firm Toll
The proposed cash acquisition would give Japan Post
(IPO-JAPP.T: Quote, Profile, Research, Stock Buzz) a reach spanning 55 countries and a surge in
earnings power ahead of a planned listing later this year, as it
aims to become a leading international logistics player as well
as one of the world’s biggest financial institutions.
TOKYO, Feb 11 (Reuters) – Mitsubishi UFJ Financial Group Inc
aims to add more directors to its board from outside
the bank, people with direct knowledge of the matter said,
taking a step towards a more U.S.-style management structure.
The Japanese government has been calling for more companies
to appoint outside board members to help to promote
shareholders’ interests at a time when big firms in the country
are sitting on record piles of cash.
Feb 10 (Reuters) – Japan Post’s financial units reduced
holdings of Japanese government bonds (JGBs) amid sharp falls in
yields, the postal giant’s latest earnings shows, joining other
big institutional investors seeking assets that offer higher
At Japan Post Bank Co Ltd, one of the postal giant’s
financial units, holdings of JGBs fell to 109.9 trillion yen
($926.5 billion) at the end of December, down from 126.4
trillion yen at the end of March, Japan Post Holdings Co
(IPO-JAPP.T: Quote, Profile, Research) said in its September-December results.
TOKYO, Feb 6 (Reuters) – Japanese insurers Nippon Life
and Dai-ichi Life are in talks with local
banking group Resona Holdings Inc to buy a 5 percent
stake worth about 80 billion yen ($682 million), people with
knowledge of the matter said.
The companies, Japan’s biggest life insurance firms, expect
to finalise their discussions with Resona by end of the month,
the sources said, declining to be named due to the
confidentiality of the matter.