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SoftBank Group to gain $5.12 billion proceeds from Arm IPO

TOKYO, Sep 20 (Kyodo) - SoftBank Group Corp said Tuesday that it will receive $5.12 billion in proceeds from the initial public offering of Arm Holdings Plc, a British chip designer under the Japanese conglomerate, by the end of September.

Arm, whose chips power most of the world's smartphones, debuted on the U.S. Nasdaq stock exchange last Thursday in the largest U.S. IPO this year, shooting its market capitalization to over $65 billion.

The share sale is widely considered a success, given its first trading day's closing price of $63.59, some 25 percent above its IPO price of $51, reflecting investors' excitement over recent technological advances in artificial intelligence and Arm's increased role in supporting them. ...continue reading

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Japan's Ministry of Health, Labour and Welfare's advisory panel has outlined a proposal for amending the law to prohibit working more than 14 consecutive days. Under the current system, workers can technically work up to 48 days in a row through a system known as 'four-day-off-per-four-weeks,' while labor agreements also allow for holiday work, meaning there are no effective restrictions on consecutive workdays.

Manhole covers featuring characters from Riyoko Ikeda’s popular manga The Rose of Versailles were unveiled on November 11th at three locations within Kashiwa City, Chiba Prefecture.

Universal Studios Japan (USJ) has announced that the new 'Donkey Kong Country' area will open on December 11th, expanding the 'Super Nintendo World' by 1.7 times.

Japan's Finance Ministry presented a plan on November 11th during the Fiscal System Council to gradually increase the 'teacher adjustment allowance' --currently awarded as a substitute for overtime pay -- from its current 4% of monthly salary to 10% over a span of five years.

The Japan Meteorological Agency (JMA) is currently experiencing issues displaying images from the Himawari weather satellite on its official website. Efforts are underway to identify the cause and restore normal service, but the timeline for recovery remains unclear.

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