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Toshiba board accepts Japan Industrial Partners' $15 billion buyout proposal

Mar 23 (Reuters) - Toshiba Corp's board has accepted a buyout offer from a group led by private equity firm Japan Industrial Partners, valuing the company at 2 trillion yen ($15.2 billion), the company said on Thursday.

A successful deal would see the scandal-ridden industrial conglomerate taken private and firmly in domestic hands after much tension with overseas activist shareholders. It is however not yet clear whether activist funds, which are estimated to own roughly a quarter of the company, will be satisfied with the terms.

Some 20 Japanese companies including financial services firm Orix Corp, chipmaker Rohm Co and Chubu Electric Power plan to take part in the deal, sources have said. It would be the third-largest M&A transaction globally so far this year, according to Refinitiv data. ...continue reading

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Three people who went missing after a landslide in Matsuyama, Ehime Prefecture, have been found, though their condition is yet to be confirmed.

To address the severe aviation fuel shortage in Japan, a new initiative has been launched as part of an emergency response formulated by the public and private sectors.

Dogo Onsen in Ehime has reopened after five and a half years of renovations. Some people waited as long as eight hours to be the first to take a bath.

A compliance training session for host clubs in Tokyo's Kabukicho district was conducted in response to a series of "urikake" problems, where malicious host clubs saddled customers with exorbitant debts.

A Japanese man detained in Myanmar over the sale price of rice has been charged and will face trial on Friday, July 12.

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The Japan Business Federation (Keidanren) announced the results of its survey on summer bonuses for major companies this year. According to the survey, the average bonus payment increased by 4.31% compared to the previous year, reaching 983,112 yen.

Film cameras are experiencing an unexpected resurgence in Japan, as young consumers explore their nostalgic charm.

Amazon has become the largest purchaser of renewable energy in Japan. On July 11, the American tech giant announced its investment in new renewable energy projects, including an onshore wind farm in Aomori Prefecture and a solar power plant in Yamaguchi Prefecture.

In Nagahama City, Shiga Prefecture, the traditional "ito-tori" process of spinning silk threads by hand from cocoons, used for koto and shamisen strings, is currently in full swing.

In response to the so-called '2024 problem,' where the logistics industry faces a severe labor shortage, a new facility has been established in Kansai to transfer truck cargo to rail freight.

Benzingaの日本版Benzinga Japanでは、日々変化の激しい世界経済、2024年30年ぶりに歴代最高価格を更新した株式市場、2024年4年に一度のビットコイン半減期を迎えた仮想通貨市場を中心に毎日のニュースを発信している。

Sumitomo Mitsui Banking Corporation (SMBC) will reduce transfer fees for individual customers starting in October. When using an ATM with a cash card to transfer funds to another SMBC account, the fee will be lowered from 110 yen to free.

Ten semiconductor-related companies from Japan and the United States are set to establish a development facility for next-generation semiconductors required for generative AI and autonomous driving in Silicon Valley, USA.