Japanese government fund, companies to propose Renesas buyout plan this week
News On Japan via Japan Times -- Oct 17
A government-backed turnaround fund and a group of Japanese companies will officially propose an acquisition plan for struggling chip-maker Renesas Electronics Corp. that would involve the purchase of ¥200 billion of news shares, sources said Tuesday.
Renesas is expected to accept the acquisition offer by the alliance led by the Innovation Network Corp. of Japan, which is willing to invest a greater amount in Renesas than Kohlberg Kravis Roberts & Co., a U.S. investment fund that is considering investing around ¥100 billion in the company.
Renesas plans to make a final decision around mid-November, the sources said.
A collection of materials related to a 17th century mission sent by a Japanese feudal lord to Europe and the world's oldest autographic diary left 10 centuries ago by a Japanese regent have been selected for the UNESCO Memory of the World registry, the Japanese education ministry said Wednesday. (Global Post )
Almost 1,500 people were transported to hospitals by ambulance due to heatstroke last week, up sharply from 942 in the preceding week, the Fire and Disaster Management Agency said Tuesday. (Japan Times )
Among about 200,000 traffic signals nationwide, 16 percent are being used beyond the end of the expected lifetime of their electrical systems and some have even toppled over due to age, according to the National Police Agency. (Yomiuri )
In May, Akira Ikoma, the editor of a guide to men's entertainment called Ore no Tabi (My Journey), said that "Abenomics" had caused a spike in prices at high-end soapland bathhouses in Tokyo. However, the same editor tells Shukan Post (June 28) that the initiative is not impacting the low-end market in the same way. (Tokyo Reporter )
Tokyo District Court decided on Monday to open planned examinations of three witnesses who are former senior members of the Aum Shinrikyo doomsday cult and now death-row inmates, during an upcoming trial of another former senior Aum member. (Jiji Press )