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.
TOKYO, Feb 6 (Reuters) – Japan’s Suntory Holdings Ltd
aims to double revenue at its Beam spirits business
to $10 billion in five years as it capitalises on the growing
popularity of drinks like whisky and bourbon and forays further
into developing markets, its new president said.
Suntory last year bought U.S. bourbon maker Beam for $16
billion, propelling the company to rank No. 3 in the global
spirits market after Diageo and Pernod Ricard.
TOKYO, Feb 5 (Reuters) – Japan Tobacco is buying
back its own shares worth up to 100 billion yen ($852.73
million) and paying investors a higher annual dividend, citing a
goal of boosting shareholder returns.
The moves represent a partial nod by Japan Tobacco to
demands by activist investor the Children’s Investment Fund
(TCI), the company’s second-biggest shareholder, which has been
pressing for a return of cash to shareholders.
TOKYO, Feb 4 (Reuters) – Japan Tobacco Inc (JT) is
pulling out of the beverage business after failing to gain scale
in a mature domestic soft drinks market, and as the former state
monopoly focuses on its overseas tobacco operations.
JT, known for its “Roots” canned coffee and “Momono
Tennen-sui” flavoured bottled water in Japan, said on Wednesday
it will terminate production and sales of beverages by the end
TOKYO, Feb 3 (Reuters) – Mitsubishi UFJ Financial Group
(MUFG), Japan’s biggest bank by assets, posted a better
than expected 36 percent rise in quarterly net profit on strong
overseas growth and higher securities values from the Bank of
Japan’s asset-purchase policy.
MUFG’s results on Tuesday come after upbeat numbers last
week from two of its closest rivals – No. 2 lender Mizuho
Financial Group Inc and No. 3 Sumitomo Mitsui Financial
Group Inc (SMFG) – and raise the prospects of Japanese
lenders boosting shareholder returns through stock buybacks or
TOKYO, Feb 3 (Reuters) – Japan’s Skymark Airlines Inc
is looking for a “business sponsor” to help it emerge
from bankruptcy, a move that could eventually give control of
the fiercely independent budget carrier to its rivals.
Japan’s biggest budget airline, which sought protection from
creditors last week, said a sponsor could help it cut costs and
increase revenue, according to a Jan. 28 court filing seen by
Reuters on Tuesday.
TOKYO, Jan 31 (Reuters) – Meiji Yasuda Life Insurance Co
plans to more than triple its investment in new areas
like overseas infrastructure to some $3 billion, company
officials said, as big Japanese institutions seek higher returns
amid tumbling global yields.
Japan’s third-biggest life insurer by premium revenue now
plans to put 350 billion yen ($2.97 billion) into new areas in a
three-and-a-half-year investment plan through March 2017, the
officials told Reuters.
TOKYO, Jan 30 (Reuters) – Mizuho Financial Group Inc
, Japan’s second-largest lender by assets, reported a
surprise 26 percent rise in profits for the quarter ended in
December as the Bank of Japan’s additional stimulus measures
The latest quarter’s results were a sharp reversal from the
preceding six months, when Mizuho posted a 17 percent profit
fall, making it now likely the bank will avoid the big annual
profit fall it has forecast.
TOKYO, Jan 27 (Reuters) – Japanese lender Sumitomo Mitsui
Financial Group Inc (SMFG) posted a 1.8 percent rise in
quarterly profit due to gains in its brokerage business, setting
it on track to better its own forecast of a double-digit drop in
The country’s third-largest lender by assets was able to eke
out a profit rise in its financial third quarter ended in
December, helped by a rally in the Japanese stock market after
the central bank’s surprise additional monetary stimulus
measures announced in October.