Suntory Beverage and Food Ltd (2587.T) managed a modest rise in its debut on Wednesday after a $4 billion IPO, as investors shrugged off volatile markets and rich valuations to buy up what may be Japan's last big corporate listing of 2013.
Suntory's offering, Asia's biggest IPO so far this year and aimed at building up a warchest for overseas acquisitions, is part of a surge in Japanese equity issuance as companies cash in on higher valuations from a rallying stock market.
The rally stalled in mid-May and the market has turned volatile but Prime Minister Shinzo Abe's reflationary policies continue to support less high-profile equity issuance, with advertising firm Dentsu Inc (4324.T) announcing on Wednesday it would tap the market for $1.2 billion in a secondary offering to pay down debt.
"I believe the market can digest more share offerings easily," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. "The market has regained confidence in the long-term upward trend in stock prices."
Suntory Beverage rose to 3,145 yen in its maiden session, up 1.5 percent from the IPO price of 3,100 and defying weak signals from the grey market, where it traded last week at 2,900 yen.
Japanese research whaling vessels have returned to a port in Yamaguchi Prefecture, western Japan, after completing a survey expedition in the Antarctic Ocean. The expedition was unusual in that it did not involve catching any whales. (NHK)
With the arrival of the cherry blossom season, the Tokyo metropolitan government has taken steps to manage the influx of revelers expected at Ueno Park in Taito Ward, where a hanami festival is being held. (The Japan News)
The Japan Tourism Agency (JTA) says the amount of money spent by foreign tourists in 2014 surpassed the preceding year by 43.1%, totaling 2.0278 trillion yen and exceeded two trillion yen for the first time ever. (Japan Today)
A teen model smiles sweetly at the camera. Deftly using her hands, she produces a considerable volume of white, goopy liquid. Then she turns to the camera and asks, innocently, "It all came out?" (rocketnews24.com)
Lee Dong Cheol, 61, and an employee of his trading firm were arrested by the Kyoto, Kanagawa, Shimane and Yamaguchi prefectural police departments on Thursday for allegedly importing North Korean matsutake mushrooms under the pretense that they were Chinese ones. (The Japan News)
Police reported a record-high 28,923 minors aged below 18 to child welfare authorities as suspected victims of child abuse in 2014, up 33.9 percent from a year earlier, the National Police Agency said Thursday. (Kyodo)
The two names of what appears to be Japanese are on the boarding list of a Germanwings airplane that crashed in southeastern France Tuesday, according to the Japanese consulate general in Barcelona. (Jiji Press)
Police on Wednesday arrested a 42-year-old man in connection with the deaths of his parents, who were found fatally stabbed the day before in a factory the family ran in Takarazuka, Hyogo Prefecture. (Japan Times)