Nikkei rallies as Softbank losses offset by China data
News On Japan via Reuters -- Oct 15
Japan's Nikkei rallied 0.5 percent
on Monday as investors turned buyers after a broad sell-off last
week, though concerns lingered over the earnings outlook for
Buyers were encouraged by Chinese inflation data that
signalled Beijing had room to ease policy further to shore up
growth in Japan's main export market.
The index's advance was held back, however, by Softbank
Corp's 5.3 percent fall to a 5-month closing low due to
fears that the mobile phone provider would pay too much to buy
out Sprint Nextel Corp, after it was reported that the
deal could be worth $20 billion.
Softbank's stock hit an 8-month intraday low as sources said
the Japanese mobile carrier would provide $8 billion of new
capital and acquire an additional $12 billion worth of shares
from Sprint shareholders, funded by a 1.65 trillion yen ($21.1
billion) loan from four banks.
This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times )
The parents of a nightclub worker killed in an arson fire three years ago filed a suit in the Nagoya District Court on Monday seeking damages against top members of the Yamaguchi-gumi organized crime group. (Tokyo Reporter )
Kyodo News said Monday that it has dismissed Satoshi Kondo, 51, deputy chief of its general administration bureau and former personnel affairs division chief, for meeting individually with a female student searching for a job and doing an inappropriate act.
(Jiji Press )