News On Japan

SoftBank's Arm soars nearly 25% in market debut to $65 billion valuation

Sep 15 (Reuters) - Shares in SoftBank's Arm Holdings (ARM.O) soared almost 25% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at $65 billion in its return to the public markets after seven years.

The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, and closed at $63.59, notching a gain of 24.68%.

The first-day jump bodes well for companies that have been waiting to list after the IPO market collapsed due to the war in Ukraine and Federal Reserve interest rate hikes.

Arm secured a valuation of $54.5 billion on Wednesday after pricing its IPO at the top end of the marketed range, netting $4.87 billion for SoftBank (9984.T) , which still holds a 90.6% stake.

News On Japan
POPULAR NEWS

The issue of diplomatic vehicles avoiding parking fines in Japan due to diplomatic immunity continues, with Russia reaching a record-high number of violations, accounting for 63% of the total.

The BBC has announced its 2024 edition of '100 Women,' celebrating individuals who have made a significant impact on society, selecting Japanese talent Naomi Watanabe (37) as one of the honorees.

Authorities in Osaka's Nishinari Ward carried out a contentious forced eviction at the Airin General Center, a facility once central to the city’s day-laborer community, sparking protests from residents and supporters who condemned the move as a violation of human rights and dignity, while officials cited safety concerns and legal rulings as justification for the operation.

The JR Group announced on December 2nd that it will end the sale of "round-trip tickets" by around March 2026. Additionally, "consecutive trip tickets" will also be discontinued during the same period.

A vehicle carrying Prime Minister Ishiba collided with a leading escort car. No injuries were reported.

MEDIA CHANNELS
         

MORE Business NEWS

Starting in December, SBI Shinsei Bank has raised the interest rate for ordinary savings accounts to 0.3%—about three times the standard rate—for all depositors aged 28 and under.

Japanese stocks have entered the so-called "year-end rally" phase, a period known for upward trends in stock prices. Last week, the Nikkei Stock Average showed resilient performance despite the yen appreciating gradually against the dollar, temporarily dipping below 38,000 yen but ending with stable movements.

Japan’s airline industry is experiencing a significant boost from record inbound tourism, but rising costs and geopolitical challenges are tempering the financial gains.

Kirin Brewery has announced that it will increase prices on over 200 products, including beer and chuhai, starting in April next year. All three major beer companies will implement price hikes at the same time.

The Japan Fair Trade Commission (JFTC) has launched an on-site investigation into Amazon Japan, alleging that the company forced sellers to lower prices. The investigation will also examine potential involvement by Amazon's U.S. headquarters.

PwC, a leading audit firm, and Takara Printing have announced a collaboration to provide English disclosure support services, including the translation of securities reports. This initiative comes as the Tokyo Stock Exchange plans to mandate companies listed on the Prime Market to disclose financial information in English starting April 2025, aiming to attract overseas investors.

In today’s competitive business environment, time is the one resource you can’t afford to waste.

Mercari, a leading online marketplace, has announced new measures and compensation policies in response to increasing issues among users, such as the fraudulent replacement of returned items.