Toshiba buyout: Japanese fund submits $15bn proposal

Nov 08, 2022 | News On Japan

TOKYO - Investment fund Japan Industrial Partners has submitted a formal proposal to take over Toshiba for about 2.2 trillion yen ($15 billion), Nikkei learned on Monday.

The proposal is based on Toshiba's current share price. Toshiba's special committee that was established in April will decide whether to accept the bid.

JIP was chosen as a preferred bidder in October and is leading a consortium of buyers. It had been working out the details of the takeover and has conducted an asset assessment, taking into account the uncertain semiconductor industry outlook as well as the fact that Toshiba's stock price has already risen in anticipation of restructuring.

About 1 trillion yen will be funded by a group of Japanese companies, including utility Chubu Electric Power and leasing company Orix. More than 10 companies have expressed an interest in contributing capital. JIP itself will also inject 100 billion yen. ...continue reading

Japan Finds Unexpected Support in Monterrey

Japan will face Tunisia in its second match of the FIFA World Cup 2026 on June 21 in Monterrey, a northern Mexican city known for its mountains, modern skyline and unexpectedly strong connections with Japan.

Typhoon No. 7 (Mekkhala) Forms As Heavy Rain Spreads Across Japan

Typhoon No. 7, named Mekkhala, formed east of the Philippines at 3 a.m. on June 20 and is forecast to move westward for the time being before approaching the Philippines early next week with a storm zone, while some simulations show it later turning northward toward the Okinawa area.

Tokyo Elementary School Fire Injures 11 Pupils And Teachers

Eleven pupils and teachers were injured after a fire broke out at Takinogawa Daisan Elementary School in Tokyo's Kita Ward at around 11 a.m. on June 19, forcing more than 300 children to evacuate and briefly trapping several pupils on a narrow ledge outside a fourth-floor classroom.

Bears Growing More Aggressive in June and July

Bear attacks and sightings are increasing across Japan, with multiple people injured on June 17 and experts warning that bears are becoming more accustomed to human environments, potentially leading to more dangerous and unpredictable encounters in the years ahead.

Supreme Class Debuts on Tokaido-Sanyo Shinkansen

JR Central and JR West on June 17 announced pricing and service details for the new private-room seating that will be introduced on the Tokaido and Sanyo Shinkansen from October, creating a new top-tier class above the existing Green Car service.

MEDIA CHANNELS

MORE Business NEWS

BOJ Governor Ueda Discharged From Hospital, To Return To Work June 23

Bank of Japan Governor Kazuo Ueda has been discharged from hospital after receiving treatment for an infected liver cyst and is expected to return to work on June 23 while continuing outpatient care for about two weeks.

Japan Inflation Stays Below 2% For Fourth Straight Month

Japan's nationwide consumer price index rose 1.4% in May from a year earlier, staying below 2% for the fourth straight month as lower rice, gasoline, utility and school tuition costs helped curb the overall increase.

Nikkei Average Hits Record High For Fourth Straight Day As Yen Weakens

The Nikkei Stock Average surged past 71000 on Thursday, closing at a record high for the fourth straight session, as easing tensions in the Middle East lifted investor sentiment while the yen weakened to a nearly two-year low against the dollar.

Nissan Launches New Kicks SUV With Improved E-Power System

Nissan Motor announced that it will launch the fully redesigned Kicks compact SUV on June 18, marking the model's first full overhaul in six years as the automaker seeks to strengthen its position in Japan's highly competitive small SUV market.

50-Year Home Loans Gain Traction

Japan's return to a world of higher interest rates is reshaping household finances, with a growing number of young homebuyers turning to 40- and 50-year mortgages to afford rapidly rising apartment prices, according to a discussion aired on BS-TBS's Report 1930 on June 17.

Six Ice Cream Makers Investigated Over Price-Fixing

Japan's Fair Trade Commission has conducted on-site inspections of six major food manufacturers over suspicions they formed a cartel to coordinate ice cream prices, with authorities investigating whether the companies exchanged information and unfairly adjusted planned retail price increases in response to rising costs.

Nikkei Average Stock Price Reaches 70,000 Level for First Time

The Nikkei Stock Average briefly topped the 70,000 mark for the first time on June 16, rising as much as 700 points to an intraday high of 70,020 after the Bank of Japan's decision to raise interest rates matched market expectations, before retreating as investors locked in profits, though the benchmark still ended the day at a record high.

BOJ Raises Policy Rate to 1% for First Time in 31 Years

The Bank of Japan decided at its monetary policy meeting on June 16th to raise its policy interest rate for the first time in four meetings, lifting the benchmark rate from around 0.75% to around 1.0%, the highest level in 31 years.

< 2 3 4 5 >