Society

Nitori to launch rival takeover bid for Shimachu in November

Oct 30 (Japan Times) - Japanese home furnishings retailer Nitori Holdings Co. said Thursday it will launch a rival takeover bid in mid-November to make do-it-yourself and hardware store operator Shimachu Co. a wholly owned subsidiary, triggering a fierce acquisition battle with a major DIY store operator.

Nitori set its bid price at Â¥5,500 ($53) per share, surpassing the Â¥4,200 per share that its rival DCM Holdings Co., a Tokyo-based operator of DIY store chains, is paying in a tender offer through Nov. 16 worth up to Â¥163.6 billion.

Nitori plans to spend a total of Â¥214.3 billion on the takeover bid. On the Tokyo Stock Exchange, Shimachu shares closed Thursday’s session up 3.5 percent at Â¥5,060.

Given Nitori’s higher bid price and Shimachu’s recent share price rises, DCM could be forced to raise its offer before its tender offer period ends on Nov. 16.

Student's Homemade Bomb Sparks School Lockdown in Sapporo

A suspicious object feared to be explosive was discovered at a high school in Sapporo on the afternoon of November 22nd, causing temporary chaos. The object was found to have been brought to the school by one of its students.

China to resume visa-exemptions for short-term Japanese travelers

China says it will resume allowing visa-free visits by Japanese nationals on short-term trips from the end of this month. (NHK)

Japan Grapples with Poverty and Rising 'Invisible Homeless'

Japan is facing a deepening crisis of poverty and inequality, with rising reports of 'invisible homeless' individuals and growing economic hardships among the population. Discussions over reforms to the country's tax and welfare systems have taken center stage, as policymakers grapple with how to provide meaningful support.

Ueno Toshogu Shrine Shines in Gold with Special Lighting

A special lighting ceremony was held on November 20th at Ueno Toshogu Shrine, located in Ueno Park, Taito Ward, Tokyo. The event featured a unique lighting design created by renowned lighting designer Motoko Ishii.

World's First Fiber Made From Bagworm Silk Revolutionizes Industry

A Japanese pharmaceutical company has announced the successful commercialization of fiber made from silk produced by bagworms.

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Man With Snake Tattoo Accused of Theft and Headbutting Store Employee

A man with a distinctive snake-like tattoo on his face has been arrested for shoplifting and assaulting a convenience store employee in Tokyo. The suspect, identified as 49-year-old Masakatsu Echizenya, is accused of stealing items from a store around noon on November 15th and violently attacking the employee who confronted him.

Kato Recognized by Guinness for 65 Years of Chess Puzzle Contributions

Hifumi Kato, affectionately known as 'Hifumin,' has been officially recognized by Guinness World Records for the longest-running chess puzzle column in a magazine.

Monkey Caretaker Accused of Stealing Feed at Osaka Zoo

A male caretaker at Tennoji Zoo in Osaka has been sent to prosecutors on suspicion of stealing vegetables and fruits used as monkey feed.

Osaka Strip Theater Busted for Indecency

The operator of a strip theater in Osaka's Tenma district, advertised as "Western Japan's largest," has been arrested alongside nine others for exposing dancers' lower bodies to customers, police announced.

Wakayama Shrine Prepares New Year’s Artwork

Kumano Nachi Taisha Shrine in Nachikatsuura Town, Wakayama Prefecture, has begun producing traditional calligraphy artwork for next year’s New Year celebrations.

Sex industry recruiters in Tokyo arrested

Tokyo Metropolitan Police have arrested five people on suspicion of violating Japan's Employment Security Act. They are believed to have run a nationwide operation to recruit women via social media to work in the sex industry. (NHK)

Human Hand Found Sticking Out From Ground at Cemetery in Nara

A human hand was discovered protruding from the ground at a cemetery in Nara City on November 18th, around 1:30 p.m.

Renowned poet Tanikawa Shuntaro dies at 92

Tanikawa Shuntaro -- a renowned Japanese poet who used his keen sense of observation in creating a vast body of work -- has died of old age. He was 92. (NHK)

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