Toshiba spinoff Kioxia set for October IPO in Japan's biggest of year
Nikkei -- Aug 26
Flash memory maker Kioxia Holdings will list on the Tokyo Stock Exchange as soon as October with a market capitalization projected at more than 2 trillion yen ($18.9 billion), making for the nation's biggest initial public offering of 2020.

The Tokyo Stock Exchange is expected to greenlight Kioxia's listing soon.

Kioxia, formerly Toshiba Memory Holdings, is the world's second-largest producer of NAND flash memory chips behind Samsung Electronics. Toshiba has a roughly 40% stake, with the rest held by a consortium of U.S., Japanese and South Korean investors.

Toshiba sold its memory business in 2018 to the consortium led by U.S. buyout firm Bain Capital for roughly 2 trillion yen. The deal was in response to the massive losses at U.S. nuclear power subsidiary Westinghouse Electric. The financial troubles compounded the damage sustained earlier in an accounting scandal.

Upon selling Kioxia to the consortium, Toshiba bought back the partial stake. Toshiba and Bain Capital will sell a portion of their Kioxia holdings as part of the listing.

This divestment is anticipated to come in tandem with a small issuance of new shares. Although such terms as the offering price will depend on investor demand, Kioxia is expected to attain a market capitalization of 2 trillion yen to 2.5 trillion yen.

News source: Nikkei
Oct 22
Japan is considering creating a hub where financial firms can file regulatory paperwork in English as Tokyo aims to recruit banks and brokerages away from Hong Kong and other parts of the world, according to people familiar with the matter. (Japan Times)
Oct 22
A computer file containing data on 2,750 business partners of a unit of Japan Post Co. has been leaked, the parent company said Tuesday. (Japan Times)
Oct 21
Japan and China are expected to agree as early as this month on resuming travel by both short- and long-term businesspeople between the two countries, Japanese government sources said Tuesday. (Japan Today)
Oct 21
Obtain totally free Young America quotes for auto insurance coverage. (newsonjapan.com)
Oct 19
Over the coming decade, Japan will get economic tailwinds from a force never before experienced in economic history anywhere on this scale: the country's gigantic stock of record household savings will become unstuck. (Japan Times)
Oct 18
NHK hopes to make it mandatory for those who have not signed viewing contracts to report to the broadcaster whether or not they have a TV, a move it says could help cut costs for collecting fees. (Japan Times)
Oct 16
Analysts credit a Japanese government travel campaign with a slight uptick in spending on services and entertainment in late September. (NHK)
Oct 15
The parent company of All Nippon Airways Co. plans to acquire 400 billion yen ($3.8 billion) in loans from five Japanese banks as the airline operator's earnings have sharply deteriorated under the novel coronavirus, sources close to the matter said Wednesday. (Kyodok)
Oct 13
A chain of misjudgments and unexpected events, not least Carlos Ghosn's escape to Beirut, have sent Japanese prosecutors and former Nissan Motor general counsel Greg Kelly on a collision course set to unfold in his long-awaited trial over the next nine months. (Nikkei)
Oct 13
The Indian economy is set to become the third largest in the world behind China and the US by 2050 and retain the same position in 2100, a study published in the medical journal Lancet found by translating working age population of countries into scenarios for total GDP. ()
Oct 13
A report by the BOJ highlights that prices in Japan are under downward pressure amid the pandemic. (NHK)
Oct 12
A growing number of Japanese companies in the retail and service sectors are turning shop space into shared rental space to meet demand for telecommuting due to the pandemic. (NHK)
Oct 10
Pressures for public aid are mounting in the Japanese aviation market, with no rebound in sight for air travel, as full-service and budget airlines are preparing further cost-cutting measures that will hit their employees and routes. (Nikkei)
Oct 09
The Japanese government says it expects the country's crude steel output this year to be the lowest in about half a century, as the economy continues to feel the effects of the coronavirus. (NHK)
Oct 09
Japanese retailers are seeing a rebound in business as the government tries to balance keeping coronavirus under control with stoking the economy. (Nikkei)
Oct 06
A system glitch that led to the worst-ever all-day outage on the Tokyo bourse late last week was due to a memory breakdown in trading system hardware and a setting error, the bourse said Monday. (Japan Times)
Oct 05
The real winner from the Tokyo Stock Exchange outage last week? Bitcoin! (Nikkei)
Oct 03
Japan's most powerful business lobby will actively urge companies to put women in more than 40% of management posts by 2030 as part of its growth strategy due out soon. (Nikkei)
Oct 02
Trading resumed on the Tokyo Stock Exchange on Friday after it was halted by a technical glitch for all of Thursday. The session ended without any disruptions. (NHK)
Oct 02
The Tokyo Stock Exchange was the target of criticism Thursday for failing to disclose information and leaving retail investors in the dark after a system failure caused the bourse to shut down an entire day of trading for the first time. (Nikkei)