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Japan's SBI to take big stake in AI unicorn Preferred Networks

Aug 27 (Nikkei) - Japanese financial services group SBI Holdings plans to invest around 10 billion yen ($69 million) in Tokyo-based Preferred Networks and work with the startup on designing chips for artificial intelligence, Nikkei has learned.

Preferred Networks is preparing for a private placement of shares to about 10 mostly Japanese companies. SBI is expected to play the leading role in this fundraising round, making it one of the startup's top investors alongside Toyota Motor.

SBI is expected to announce the investment plan on Tuesday. The move is part of an entry into the semiconductor industry announced last year.

Preferred Networks was founded in 2014 and has an estimated valuation of around 300 billion yen, making it one of Japan's most valuable unicorns.

Man Evades Arrest After Series of Violent Robberies

A man who was placed on the public wanted list Thursday is suspected of playing a key role in a series of robberies in Tokyo and Saitama.

Anna Sawai Named in TIME's '100 Next'

The prestigious American magazine 'TIME' has selected actress Anna Sawai as one of this year’s '100 Next.'

Osaka's Casino Project to Start Next Spring

Osaka City has handed over land for the Integrated Resort (IR) project, which will include a casino, after signing a contract to lease the land to the developer for 35 years at a monthly rent of 2.1 billion yen.

Japan to Introduce New Mobile Numbers Starting with 060

Japan's Ministry of Internal Affairs and Communications is set to introduce new mobile phone numbers starting with '060,' possibly as early as December, marking the first addition of a new number in 11 years.

Unexploded Bomb Detonates at Miyazaki Airport

A large sinkhole was found on the taxiway of Miyazaki Airport on Wednesday, caused by the explosion of a 500-pound U.S.-made bomb.

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