Japan rescue fund may counter KKR bid for chipmaker Renesas
News On Japan via Bloomberg -- Sep 23
Japan's state-backed corporate rescue fund may join the nation's largest manufacturers to take over Renesas Electronics Corp., countering a bid by U.S. private-equity firm KKR & Co. (KKR) for the unprofitable chipmaker.
Innovation Network Corp. of Japan may offer financial support to Renesas if asked, an executive of the investment fund said yesterday, declining to be identified because of company policy.
Japanese industrial powers including Toyota Motor Corp. (7203) and Panasonic Corp. (6752) will join with the fund to invest more than 100 billion yen ($1.3 billion) for a majority stake in Renesas, the Nikkei newspaper reported.
China's television regulator has ordered a crackdown on dramas about the country's battles with Japan during and before World War Two and demanded they be more serious, state media said on Friday, following viewer complaints about ludicrous storylines. (Reuters )
Shukan Post (May 24) conveys the difficulties experienced by other parts of the adult-entertainment biz in servicing customers from the communist nation.
A deri heru (“delivery health”) call-girl tells the tabloid that she is often requested to arrive at major hotels in the Shinjuku and Ikebukuro entertainment areas of Tokyo by Chinese visitors. (Tokyo Reporter)