nikkei, - Shore News Network

Orix can invest about $2 billion in Toshiba buyout – Nikkei Business

ReutersOctober 21, 20220

TOKYO (Reuters) -Orix Corp has decided it could invest about 300 billion yen ($2 billion) in a consortium to buy out Japanese industrial conglomerate Toshiba Corp, the Nikkei Business magazine reported on its website on Friday. A consortium led by private equity firm Japan Industrial Partners (JIP) has been granted preferred bidder status by Toshiba in a second round of bidding, though the conglomerate is still open to proposals from others. JIP has asked multiple companies to join the consortium, including Orix and Chubu Electric Power Co Inc. An Orix spokesperson said the company has been considering the matter regarding

Nissan, Renault relationship should be ‘more equal’ Renault CEO tells Nikkei

ReutersOctober 18, 20220

TOKYO (Reuters) -The relationship between Japan’s Nissan Motor Co and top shareholder Renault SA should be “more equal”, the Nikkei newspaper quoted the French automaker’s chief executive as saying. “This is not one side losing and the other side winning,” the newspaper quoted Luca de Meo as saying in an interview, which took place in France on Monday. “Each company needs to do what is best,” he told the Nikkei, adding that that was the spirit of their alliance. Renault is Nissan’s largest shareholder with 43% while the Japanese automaker owns 15% in its partner. The two companies said last

Japan LDP tax chief says corporate tax hike an option for defence funding -Nikkei

ReutersOctober 14, 20220

TOKYO (Reuters) -The head of tax policy at Japan’s ruling Liberal Democratic Party (LDP) said on Friday that raising corporate taxes was an option to fund the country’s defence build-up, the Nikkei newspaper said. “A somewhat large tax should be considered if there are expectations for a sizeable tax revenue,” Yoichi Miyazawa, chair of the LDP’s tax commission, told the Nikkei in an interview. The idea of issuing more government bonds to fund defence spending is “utterly irresponsible,” Nikkei also quoted Miyazawa as saying, playing down the likelihood of adding to the country’s massive debt burden for it. Japan’s defence

Google to invest $690 million in Japan, CEO Pichai tells Nikkei

ReutersOctober 7, 20220

(Reuters) – Alphabet Inc’s Google plans to invest a total of 100 billion yen ($690.13 million) in Japan through 2024, its Chief Executive Officer Sundar Pichai told Nikkei in an interview on Friday. Google will open a data centre in Chiba Prefecture near Tokyo next year — its first in Japan — which will provide faster and more stable access to Google’s services, the publication reported further. Google did not respond to a Reuters’ request for comment. ($1 = 144.9000 yen) (Reporting by Rhea Binoy in Bengaluru; editing by Uttaresh.V)

Mazda discussing ending production in Russia – Nikkei

ReutersSeptember 24, 20220

TOKYO (Reuters) – Japan’s Mazda Motor Corp is discussing ending production of its vehicles at a joint venture plant in Vladivostok, eastern Russia, the Nikkei newspaper reported on Saturday. The Japanese automaker, which sold 30,000 cars in Russia last year, said in March that exports of parts to the plant were going to end and production would cease when stocks ran out. It operates the plant with Russian automaker Sollers. Mazda has not made a decision about ending car sales and maintenance operations in Russia, the newspaper said. There was no timeframe for stopping production at the Vladivostok plant. A

BOJ conducted rate check in apparent preparation for currency intervention -Nikkei

ReutersSeptember 14, 20220

TOKYO (Reuters) – The Bank of Japan has conducted a rate check in apparent preparation for currency intervention, the Nikkei website reported on Wednesday citing unnamed sources. (Reporting by Mariko Katsumura; Editing by Tom Hogue)

Japan’s Mitsui nears decision to join new Sakhalin-2 operator -Nikkei

ReutersAugust 20, 20220

TOKYO (Reuters) – Japanese trading firm Mitsui & Co is close to making a final decision to join a new Russian operator for the Sakhalin-2 liquefied natural gas (LNG) project, the Nikkei newspaper said, without citing sources. Registered on Aug. 5, the new entity replaces project operator Sakhalin Energy as Moscow rewrites the rules for foreign firms operating in Russia, amid global sanctionsfollowing its invasion of Ukraine. Mitsui, which does not see any conditions that disadvantage it, will make a final decision by the end of this month and notify Russia, the paper added. The company and peer Mitsubishi Corp,

Nikkei ends above 29,000 for first time in seven months on Wall Street rally

ReutersAugust 17, 20220

TOKYO (Reuters) – Japan’s Nikkei ended above the key psychological level of 29,000 on Wednesday for the first time in more than seven months, after an overnight Wall Street rally in major indexes following robust earnings by U.S. retailers. The Nikkei share average rose 1.23% to 29,222.77, its highest closing level since Jan. 5. The broader Topix advanced 1.26% to 2,006.99. “Strong U.S. equities lifted investor sentiment,” said Takatoshi Itoshima, a strategist at Pictet Asset Management Japan. “Investors responded to the upbeat earnings of U.S. retailers.” The Dow and S&P 500 had risen on Tuesday as stronger-than-expected results and outlooks

U.S. Vice President Harris to attend Abe’s state funeral – Nikkei

ReutersAugust 14, 20220

(Reuters) – U.S. Vice President Kamala Harris will attend former Japanese Prime Minister Shinzo Abe’s state funeral on Sept. 27, Nikkei Asia reported https://s.nikkei.com/3QIM37n on Sunday. Harris is also expected to meet Japanese Prime Minister Fumio Kishida on her first visit to Japan in her current capacity, the report added. (Reporting by Mrinmay Dey in Bengaluru; Editing by Jacqueline Wong)

Fed’s Bullard favors 75 basis point hike in July over 100 for now – Nikkei

ReutersJuly 14, 20220

(Reuters) – St. Louis Federal Reserve President James Bullard would prefer to lift interest rates by 75 basis points at the central bank’s next meeting later this month, telling the Japanese news service Nikkei in an interview released on Thursday that he does not back a larger increase for now. “So far, we’ve framed this mostly as 50 versus 75 at this meeting,” Bullard said. “I think 75 has a lot of virtue to it, because the long-run neutral that the committee has, according to the Summary of Economic Projections, is actually about 2.5%.” Asked if the Fed’s policy rate,

Japan’s SMFG plans to buy 10% stake in SBI worth over $443 million -Nikkei

ReutersJune 21, 20220

TOKYO -Japan’s Sumitomo Mitsui Financial Group (SMFG) Inc is in final talks to acquire 10% of online financial giant SBI Holdings Inc in a deal likely worth over 60 billion yen ($443 million), the Nikkei business daily reported on Tuesday. The deal, which aims to reinforce the pair’s securities businesses domestically, will see SBI issue new shares, Nikkei reported without stating where it obtained the information. The newspaper also said SBI may also take a small stake in SMFG. SBI said in a Tokyo bourse filing on Wednesday it was true it was exploring opportunities to partner SMFG, including through

Japan considers resuming tourism discount as COVID eases -Nikkei

ReutersJune 3, 20220

TOKYO – Japan’s government is considering resuming a national travel discount campaign as soon as late this month to help the tourism industry recover from a COVID-19 slump, the Nikkei newspaper said on Saturday. A revived “Go To Travel” campaign would likely serve as a core measure to stimulate consumer demand, the business daily reported, without citing sources. Japan is set to ease border controls to let foreign tourists in from July 10 as coronavirus infections ease. The government will decide on the campaign soon, the Nikkei said, without specifying time. Officials at the Japan Tourism Agency could not immediately

Japan’s Nikkei seen rising 7% to 29,000 by year-end, erasing 2022 losses: Reuters poll

ReutersMay 24, 20220

By Kevin Buckland TOKYO – Japan’s Nikkei share index, which has had a rollercoaster ride in the past year, is forecast to climb over 7% to 29,000 by end-2022, a level last seen at the start of January, according to analysts in a Reuters poll. Japan stocks have closely followed the fortunes of Wall Street as U.S. equities were buffetted by worries about red-hot inflation and whether the Federal Reserve’s efforts to cool it might smother economic growth as well. The benchmark index currently trades just above 27,000, consolidating around that level after bouncing off a 16-month low of 24,681.74

Japan PM says important to keep close ties with overseas FX authorities – Nikkei interview

ReutersMay 20, 20220

TOKYO – Japanese Prime Minister Fumio Kishida said it was important for Japan to maintain close ties with overseas currency authorities, in an exclusive interview with Nikkei newspaper published on Friday. “Rapid (exchange rate) moves are undesirable for anyone,” Kishida told Nikkei, adding the recent surge in raw material prices coupled with a weak yen have affected Japanese households and businesses. “It’s important to keep close communications with currency authorities in other countries” to stabilise currency moves, Kishida told the paper when asked about yen’s decline to 20-year-lows. (Reporting by Kantaro Komiya; Editing by Raissa Kasolowsky)

Japan PM Kishida arranging to join Shangri-La Dialogue security summit -Nikkei

ReutersMay 6, 20220

TOKYO – Japanese Prime Minister Fumio Kishida is arranging his attendance at the Shangri-La Dialogue Asian security summit in Singapore on June 10-12 to foster an understanding of Japan’s defence buildup, Nikkei newspaper reported on Saturday. Kishida will also likely call for greater international cooperation from Western and Asian defence officials in the wake of Russia’s invasion of Ukraine and China’s maritime assertiveness, Nikkei said. The Japanese premier’s appearance at the security forum would be the first since 2014 by Shinzo Abe, the paper said. (Reporting by Kantaro Komiya; Editing by Stephen Coates)

Hitachi to sell $1.6 billion Hitachi Transport stake to KKR, Nikkei says

ReutersApril 21, 20220

TOKYO – Hitachi Ltd is planning to sell most of its 40% stake in Hitachi Transport System Ltd to U.S. private equity firm Kohlberg Kravis Roberts (KKR) for $1.56 billion, the Nikkei newspaper reported on Thursday. Hitachi will retain a 10% stake in the logistics company while KKR is expected to launch a takeover bid to acquire the remaining 90%. KKR is expected to spend more than 600 billion yen ($4.69 billion) on the deal to take Hitachi Transport private, Nikkei said. ($1 = 127.9400 yen) (Reporting by Rocky Swift; Editing by David Goodman)

Nissan to stop most development of new gasoline engines – Nikkei

ReutersFebruary 7, 20220

– Nissan Motor Co Ltd plans to stop developing new internal combustion engines in all its major markets except the United States and focus on making electric vehicles, the Nikkei business daily reported on Monday. The automaker will continue limited development of its gasoline engines for its U.S. market, mainly for pickup trucks, according to Nikkei, which did not cite any sources. Nissan did not immediately respond to a Reuters request for comment. The Japanese company has plans to build new battery recycling factories in the United States and Europe by the end of fiscal 2025, Nikkei had reported in