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Feb 10, 2015

Japan Post Bank, Insurance allocation of govt bonds falls

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.

Feb 6, 2015

Japan insurers in talks to buy 5 pct stake in Resona bank

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.

Feb 5, 2015

Suntory plans to double Beam spirits sales to $10 bln in 5 years

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.

Feb 5, 2015

Japan Tobacco to buy back shares, as investor presses for cash back

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.

Feb 4, 2015

Japan Tobacco says to end beverage business due to lack of scale

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
of September.

Feb 3, 2015

As MUFG posts strong Q3, prospects grow for buybacks by Japan banks

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
dividend hikes.

Feb 3, 2015

Japan’s Skymark Airlines seeks ‘business sponsor’ in bankruptcy

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.

Jan 30, 2015

Japan’s Meiji Yasuda to triple to $3 bln investment in new areas

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.

Jan 30, 2015

Japan bank Mizuho’s Q3 profit up 26 pct as BOJ move boosts markets

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
boosted markets.

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.

Jan 27, 2015

Japan Sumitomo Mitsui’s Q3 net up on QE boost to brokerage business

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
full-year profit.

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.