Murakami fund to sell Hanshin stake to Hankyu

Jun 6, 2006

Murakami fund to sell Hanshin stake to Hankyu

The investment fund led by Yoshiaki Murakami announced Monday that it is selling its shares in Hanshin Electric Railway Co., paving the way for Hankyu Holdings Inc.’s takeover bid for Hanshin. Murakami, speaking at a televised news conference at the Tokyo Stock Exchange, said ...

Jun 3, 2006

Hankyu's tender stays on course

Hankyu Holdings Inc. President Kazuo Sumi on Friday ruled out the possibility of his firm changing its public tender offer for Hanshin Electric Railway Co. shares and said it would no longer negotiate with Murakami fund, the top Hanshin shareholder, on the issue. Sumi ...

Hankyu's bid for Hanshin puts market's eyes on Murakami

Jun 1, 2006

Hankyu's bid for Hanshin puts market's eyes on Murakami

Hankyu Holdings Inc.’s tender offer for Hanshin Electric Railway Co. has the market waiting to see what Hanshin’s biggest shareholder, the Murakami fund, will do next. When Hanshin shareholders meet June 29, Murakami could take over the Osaka-based railway if rival Hankyu Corp.’s holding ...

May 25, 2006

Japan Post net profit at 1.9 trillion yen, up 56%

Japan Post announced Wednesday it brought in a whopping net profit of 1.93 trillion yen in the fiscal year that ended March 31, up 56 percent from the year before, thanks to the robust performance of its postal savings business. Net profit from the ...

May 25, 2006

Sompo Japan president to resign amid scandals

Sompo Japan Insurance Inc. President Hiroshi Hirano announced Wednesday that he will become chairman in late June after being replaced by Managing Director Masatoshi Sato as the company deals with scandals that have drawn sanctions from the government. If the move is approved at ...

May 24, 2006

Banks OK for now but long-term strategy needed

Buoyed by a wide-ranging recovery and a massive one-time gain caused by reductions in loan-loss reserves, the nation’s top banking groups have reported record-breaking profits for the 2005 business year ended in March. The combined net profits of the six major banking groups reached ...

May 20, 2006

Steady as she goes at BOJ on interest rates

The Bank of Japan opted Friday not to do anything with interest rates, after the central bank determined that economic activity and price developments had little changed. “The Bank of Japan will encourage the uncollateralized overnight call rate to remain at effectively zero percent,” ...

May 20, 2006

Economy defies dip in consumption and pulls off 0.5% rise

The economy grew by a real 0.5 percent in the January to March quarter, marking its fifth consecutive quarter of growth despite a slowdown in private consumption, the government said Friday. The preliminary GDP figures exceeded the forecasts of private-sector economists and translate into ...

May 19, 2006

Sales slump fuels record Sanyo group loss

Struggling home appliance maker Sanyo Electric Co. reported a record group net loss of 205.6 billion yen for the business year that ended in March, due to falling sales and losses incurred in corporate restructuring, the company said Thursday. The result rewrites the previous ...