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Jun 7, 2015

Japanese firms pay high price for Asia M&A spree: Tokio Marine president

TOKYO (Reuters) – Japanese firms have been so busy paying top dollar in overseas acquisitions that sellers looking to offload assets in Asia now expect them to pay over the odds, according to the head of the country’s biggest insurer, Tokio Marine Holdings Inc (8766.T: Quote, Profile, Research, Stock Buzz).

Drive by a need to diversify exposure to natural disasters geographically, Tokio Marine president Tsuyoshi Nagano said his firm is still scouring markets around the world, including Latin America, for acquisition prospects. With insurers among the most acquisitive Japanese companies, Tokio Marine alone has spent more than $8 billion on international deals since 2008.

Jun 7, 2015

Japanese firms pay high price for Asia M&A spree -Tokio Marine pres

TOKYO, June 7 (Reuters) – Japanese firms have been so busy
paying top dollar in overseas acquisitions that sellers looking
to offload assets in Asia now expect them to pay over the odds,
according to the head of the country’s biggest insurer, Tokio
Marine Holdings Inc.

Drive by a need to diversify exposure to natural disasters
geographically, Tokio Marine president Tsuyoshi Nagano said his
firm is still scouring markets around the world, including Latin
America, for acquisition prospects. With insurers among the most
acquisitive Japanese companies, Tokio Marine alone has spent
more than $8 billion on international deals since 2008.

May 29, 2015

Japan Post says to drastically change investment strategy

May 29 (Reuters) – Japan Post Holdings (IPO-JAPP.T: Quote, Profile, Research, Stock Buzz), the
world’s biggest holder of Japanese government bonds after Bank
of Japan, said on Friday that it will significantly alter its
investment strategy as the state-owned group revamps its $2.4
trillion portfolio.

Japan Post President Taizo Nishimuro told a regular news
conference that he met with Bank of Japan Governor Haruhiko
Kuroda last week and told him that “we will greatly change how
we manage the investment of JGBs.”

May 28, 2015

Japan’s Shinsei bank says interested in GE Capital’s Asia-Pacific assets

TOKYO, May 29 (Reuters) – Japan’s Shinsei Bank Ltd
is interested in GE Capital’s Asia-Pacific operations, its
president said, as the mid-sized lender tries to grow its
business into niche markets to stave off competition from bigger
rivals.

In April, General Electric Co said it would shed most
of its finance unit as part of a restructuring. GE Capital’s
Japanese commercial finance operations are part of the sale,
people familiar with the matter told Reuters earlier, with one
person valuing the assets at around $5 billion.

May 15, 2015

Japan’s top lenders boost shareholder returns after upbeat earnings

TOKYO, May 15 (Reuters) – Japan’s top banks are stepping up
dividend payments after reporting better-than-forecast earnings,
responding to calls for bigger shareholder returns.

Japanese companies are under intense investor scrutiny
lately to justify how their earnings are utilized, and have been
criticised for hoarding too much cash. Prime Minister Shinzo
Abe’s economic growth initiatives are putting additional
pressure, as they try to stimulate money flow among businesses
and households through more spending, investment and wage hikes.

May 15, 2015

Mizuho posts better-than-forecast profit, raises dividend

TOKYO, May 15 (Reuters) – Mizuho Financial Group Inc
reported on Friday a smaller than forecast 11 percent
fall in annual profit, helped by a strong stock market and its
overseas expansion.

The bank raised its annual dividend to 7.5 yen per share for
the year ended in March, from 7 yen it had said previously,
responding to investor demand for higher shareholder returns.

May 13, 2015

Japan lender SMFG’s profit better than own forecast, ups dividend

TOKYO, May 13 (Reuters) – Japanese lender Sumitomo Mitsui
Financial Group posted a smaller-than-forecast drop in
annual profit on strong bond trading gains and lower bad loan
costs, and paid a more generous dividend heeding calls for
bigger shareholder returns.

Japan’s third-largest lender by assets said on Wednesday net
profit for the year ended in March fell 9.8 percent to 753.6
billion yen ($6.3 billion) from 835.4 billion yen a year
earlier. The bank had forecast a 16 percent fall in net profit.

Apr 23, 2015

Japan Post taps ex-Citibank Japan chairman as bank unit head

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.

Apr 22, 2015

Japan’s ANA to take stake in Skymark, widens lead over JAL

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.

Apr 18, 2015

Japan’s ANA Holdings to buy stake in Skymark Airlines

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.