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The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

☆ Canon Electronics leads plunge among Japan's Space One shareholder companies after rocket explodes
▼ + stars: | 2024-03-13 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Japan's Canon Electronics shares fell as much as 12.7% on Wednesday after Tokyo-based Space One's small rocket exploded just moments after its maiden launch. If successful, Space One would have been Japan's first company to put a satellite in orbit, according to Reuters. Space One was set up in 2018 by a consortium of Japanese companies including Canon Electronics, IHI Aerospace and construction firm Shimizu , along with the government-owned Development Bank of Japan. Space One's shareholder companies fell after the failed launch. IHI and Shimizu fell about 1%, while the banks edged lower.

Persons: Shimizu Organizations: Canon Electronics, Reuters, IHI Aerospace, Development Bank of Japan, Mitsubishi, Mizuho Financial Group Locations: Tokyo, Japan, Shimizu

For its biggest banks, however, there's a hitch: a generation of professional front-line staff have little experience with rising interest rates. The 38 members, which include credit dealers and data scientists, work to improve coordination between retail and wholesale divisions, as higher rates are expected to fuel trading activities. Still, if higher rates are new to most bankers, so they are for their clients, who have for years enjoyed rock bottom rates in Japan. "Almost no front-line bankers have experienced short-term rates above 0.5% as Japan last saw such rates in the 1990s," he said. "I think there are a lot of scepticism among front-line bankers over whether they can really increase their lending rates."

Persons: Masahiro Minami, they've, Izuru Kato, Kato, Satoru Yamamoto, Atsushi Kikuchi, Tokyo Tanshi's Kato, Makiko Yamazaki, Ritsuko Shimizu, David Dolan Organizations: MUFG Bank, TOKYO, Resona Holdings, Reuters, Bank, Mitsubishi, Daiwa Securities, Mizuho Financial, Mizuho, Thomson Locations: Japan, Tokyo

☆ Japan's Mizuho applies to set up securities company in China
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

Mizuho Financial Group logo is seen at the company's headquarters in Tokyo, Japan August 20, 2018. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsBEIJING/TOKYO, Nov 23 (Reuters) - Japan's Mizuho Financial Group (8411.T) has sought to establish a securities company in China, becoming the latest foreign firm to make inroads into China's onshore securities market with a fully-owned entity. The China Securities Regulatory Commission has received the application from the securities arm of the third-largest Japanese banking group, according to a filing record issued on Wednesday from the regulator's website. The application comes as Mizuho is hoping to tap China's lucrative capital markets fee pool, the largest after the United States and Europe. Citigroup (C.N) and Standard Chartered (STAN.L) are also in the process of establishing securities units in China after Beijing allowed wholly-owned foreign securities companies in 2019.

Persons: Toru Hanai, Mizuho, Makiko Yamazaki, Jacqueline Wong, Mrigank Dhaniwala, Kim Coghill Organizations: Mizuho Financial, REUTERS, Rights, Mizuho Financial Group, China Securities Regulatory Commission, Citigroup, Standard Chartered, Sumitomo Mitsui Financial Group, Hong Kong, Thomson Locations: Tokyo, Japan, Rights BEIJING, TOKYO, China, Mizuho, United States, Europe, Beijing, Hong

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Japan's top banks are set to commit to 1.9 trillion yen ($12.7 billion) financing to support the merger of Kioxia Holdings and Western Digital's flash memory business, four people familiar with the matter told Reuters. Several tech deals have been scuppered in recent years due to delays in regulatory approvals or rejections by China. 2 player in NAND flash memory chips - and Western Digital's fourth-ranked flash business, would control a third of the global NAND flash market, on par with top player Samsung Electronics (005930.KS). Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues including valuation discrepancies. In Japan, the two companies jointly produce NAND flash memory chips, which are widely used in smartphones, personal computers and other devices to store digital data.

Persons: Kim Kyung, Bain, Nobuo Hayasaka, Makiko Yamazaki, Miho Uranaka, Maki Shiraki, Miyoung Kim, Tomasz Janowwski Organizations: REUTERS, Rights, Kioxia Holdings, Reuters, Intel Corp, China ., Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Development Bank of Japan, SK Hynix, Toshiba Corp, Samsung Electronics, Nasdaq, Western, Mitsubishi, Mizuho, Sumitomo Mitsui, Western Digital, Thomson Locations: Tokyo, Japan, China, Kioxia

☆ Japan firms to issue digital currency for clear energy transaction
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Edgar Su/File photo Acquire Licensing RightsOct 12 (Reuters) - A group of Japanese firms will issue a digital currency by July 2024 for the transaction and settlement of clean energy certificates, cryptocurrency exchange DeCurret said on Thursday. GMO Aozora Net Bank will issue the yen-based digital currency, called "DCJPY", which will then be used by telecommunication firm Internet Initiative Japan (IIJ) for settlement of clean energy certificates, DeCurret said. Transaction of DCJPY will be made using a network launched by DeCurret which, unlike stablecoin, is backed by bank deposits through block-chain technology, DeCurret added. DeCurret has been spearheading the launch of a digital currency by anchoring discussions at a consortium of Japanese firms keen to tap the technology. The consortium, which includes megabanks Mitsubishi UFJ Financial Group Inc (8306.T), Mizuho Financial Group Inc (8411.T) and Sumitomo Mitsui Financial Group Inc (8316.T), has been meeting regularly to study ways to build a common settlement infrastructure for digital payments.

Persons: Edgar Su, DeCurret, Leika Kihara, Krishna Chandra Organizations: REUTERS, Aozora, Internet Initiative Japan, Japan, Mitsubishi UFJ Financial, Inc, Mizuho Financial Group Inc, Sumitomo Mitsui Financial Group Inc, Thomson Locations: Tokyo, Japan

☆ Kioxia's banks to refinance $13.5 bln loan for Western Digital merger -Bloomberg
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Sumitomo Mitsui Financial Group (8316.T), Mizuho Financial Group (8411.T) and Mitsubishi UFJ Financial Group (8306.T) intend to submit a commitment letter for the refinancing next month, Bloomberg reported citing unnamed sources. Part of the loan will be used to pay special dividends to Kioxia's shareholders, Bloomberg said. Of the 2 trillion yen loan, 400 billion yen will likely be funded through loan commitments and the Development Bank of Japan will provide a loan of 300 billion yen. The rest will likely be equally split between the three megabanks, Bloomberg reported. Kioxia and Western Digital are speeding up merger talks and nailing down a deal structure, Reuters reported in May, amid a slump in the market for flash memory.

Persons: Kioxia, Kiyoshi Takenaka, Sam Nussey, Makiko Yamazaki, Edwina Gibbs Organizations: Taipei, REUTERS, Rights, Western, Bloomberg, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Kioxia, Mizuho, MUFG, Development Bank of Japan, Western Digital, Reuters, Thomson Locations: Taipei, Taiwan

☆ Klaviyo valued at $9.2 billion after pricing IPO above range: Reuters
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +1 min

Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019. Marketing automation company Klaviyo Inc secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, after pricing the share sale above its indicated range, according to people familiar with the matter. Klaviyo priced 19.2 million shares at $30 apiece, the sources told Reuters, requesting anonymity as the discussions are confidential. The company revised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday, according to Reuters. Reuters was first to report earlier on Tuesday that Klaviyo was considering pricing the IPO above its targeted range at $30 per share.

Persons: Andrew Bialecki, Klaviyo, Ed Hallen, Goldman Sachs, Morgan Stanley, William Blair Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, SoftBank Group, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters Locations: Boston, U.S

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, the company said, after pricing the share sale above its indicated range. Klaviyo said it priced 19.2 million shares at $30 apiece. It had raised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday. Reuters was first to report that Klaviyo was considering pricing the IPO above its targeted range at $30 per share. Bloomberg News first reported about the IPO being priced at $30.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, ”, Goldman Sachs, Morgan Stanley, William Blair, Echo Wang, Anirban Sen, Dimpal, Timothy Gardner, Miral Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, SoftBank, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters, Thomson Locations: U.S, New York, Bengaluru

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, after pricing the share sale above its indicated range, according to people familiar with the matter. Klaviyo priced 19.2 million shares at $30 apiece, the sources said, requesting anonymity as the discussions are confidential. The company revised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday. Reuters was first to report earlier on Tuesday that Klaviyo was considering pricing the IPO above its targeted range at $30 per share. Bloomberg News first reported about the IPO being priced at $30.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, ”, Goldman Sachs, Morgan Stanley, William Blair, Echo Wang, Anirban Sen, Timothy Gardner Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters, Thomson Locations: U.S, New York

☆ SoftBank's Arm set to debut on Nasdaq after biggest IPO since 2021
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 14 (Reuters) - SoftBank's chip designer Arm Holdings (ARM.O) is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the U.S. IPO market after a listing drought that lasted for nearly 16 months. Hopes of a revival in the IPO market largely depend on the success of the high-profile listings of Arm and other marquee startups, including grocery delivery firm Instacart and marketing firm Klaviyo. Arm also told investors its royalty fees, which account for most of its revenue, were accumulating since it started collecting them in the early 1990s. Royalty revenue came in at $1.68 billion at the latest fiscal year, up from $1.56 billion a year ago.

Persons: Dado Ruvic, iPhones, it's, Susannah Streeter, Hargreaves Lansdown, Goldman Sachs, JPMorgan Chase, Manya Saini, Niket, Arun Koyyur Organizations: REUTERS, Arm Holdings, Nasdaq, U.S, Apple, Intel, London Stock Exchange, SoftBank, Android, Nvidia, Devices, Broadcom, Qualcomm, Micron Technology, Barclays, JPMorgan, Mizuho Financial Group, Thomson Locations: Samsung's, China, New York, Bengaluru

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Barclays (BARC.L), Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), and Mizuho Financial Group (8411.T) are the lead underwriters for the offering. Goldman Sachs, Morgan Stanley and Citigroup are lead underwriters on the offering, the company said in its filing. Its shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "KVYO". Citigroup, Morgan Stanley, UBS, and Bank of America are underwriters of the IPO, according to the filing.

Persons: Carlo Allegri, T Rowe Price, Goldman Sachs, JPMorgan Chase, Instacart, Fidji Simo, confidentially, Klaviyo, Morgan Stanley, Chibuike Oguh, Lance Tupper, Michelle Price, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Arm Holdings, Japan's Softbank, U.S . Securities, Exchange Commission, SEC, Apple, Nvidia, Devices, Intel, Samsung Electronics, AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Nasdaq, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Facebook, Reuters, Summit Partners, Citigroup, VNG Corp, HK, Temasek, UBS, Bank of America, Thomson Locations: New York, U.S, Russia, Ukraine, Baltimore, TCV, Sequoia, Canadian, United States, Chi Minh City, Singapore

Arm kicked off its roadshow in Baltimore, where influential asset manager T Rowe Price is headquartered, underscoring the fund manager's significance in big IPOs. Arm disclosed the proposed range would value it at between $48 billion and $52 billion. The valuation that Arm is chasing represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." Unlike most loss-making but high-growth tech companies that debut with lofty valuations but later plummet below list price, Arm is profitable.

Persons: Group's, T Rowe Price, SoftBank, Jamie Mills O’Brien, Abrdn, Arm, Dado Ruvic, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Arm Holdings, Rivian Automotive Inc, Sands, Cambridge, Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Inc, Reuters, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: Baltimore, Arlington , Virginia, England, China, United States, Bengaluru, London, Lincoln

☆ SoftBank's Arm aims for over $52 bln valuation in biggest US IPO of the year
▼ + stars: | 2023-09-05 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +5 min

The valuation that Arm is chasing now represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsReuters first reported on SoftBank's proposed price range for the IPO on Saturday. If the underwriters exercise their right to buy shares in Arm in full as part of 'greenshoe option', it would take the IPO amount to be raised to $5.2 billion. Arm expects to trade on the Nasdaq Global Select Market under the symbol "ARM".

Persons: Group's, SoftBank, Jamie Mills O’Brien, Abrdn, Kim Kyung, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Rights Reuters, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: United Kingdom, China, United States, New York, Tokyo, Japan, Bengaluru, London

☆ Arm is headed for a $52 billion IPO that's set to draw tech titans like Apple and Nvidia. Here's what to know about the biggest US stock debut of the year.
▼ + stars: | 2023-09-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Softbank Group-owned chip designer Arm is targeting a $52 billion IPO in September. The launch is set to draw big investment from tech giants like Apple, Nvidia, Samsung, and Google. The debut is expected to be the largest of 2023, and it could mark a turning point for the sluggish IPO market. A revival of IPOsIt's possible that the blockbuster stock launch marks a turning point for what's been a relatively muted IPO market since 2022. Arm could help pave the way for other tech firms and startups who's plans for an IPO have stalled through the downturn.

Persons: Softbank, Goldman Sachs, JPMorgan Chase, what's, Rob Wotczak, Masayoshi, Instacart, Wotczak Organizations: Softbank, Apple, Nvidia, Samsung, Google, Service, New York Stock Exchange, Wall Street Journal, Fund, Nasdaq, Intel, TSMC, Devices, underwriters, Arm's, Barclays, JPMorgan, Mizuho Financial Group, Bloomberg, Freedom Capital Markets, Vision Locations: Wall, Silicon, London, New York, Saudi

SoftBank plans to sell about 10% of Arm's shares in the IPO at a valuation of $60 billion to $70 billion, Reuters has previously reported. SoftBank decided to sell fewer Arm shares in the IPO after buying the 25% stake in Arm it did not directly own from its Vision Fund unit. Arm and SoftBank have set aside 10% of the shares to be sold in the IPO for its clients. Arm's shares will be listed on the Nasdaq and trade under the ticker symbol 'ARM'. Bloomberg reported on Arm's IPO timeline earlier on Thursday.

Persons: Dado Ruvic, SoftBank, Goldman Sachs, JPMorgan Chase, Anirban Sen, David Gregorio Our Organizations: REUTERS, Arm Holdings Ltd, Labor, SoftBank Group Corp, Reuters, Vision Fund, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Alibaba Group, HK, Deutsche Telekom, Mobile U.S, Goldman, JPMorgan, Barclays, Mizuho Financial Group, underwriters, Nasdaq, Bloomberg, Thomson Locations: New York

SoftBank plans to hold off giving details on the fee structure until one to four days prior the pricing of Arm's IPO, expected in September, the sources added. Arm, SoftBank, Goldman, Barclays and Mizuho declined to comment. To be sure, the banks on Arm's IPO view their assignment as part of a wider investment banking relationship that pays on many fronts. Many of them also arranged an $8.5 billion margin loan for SoftBank secured against a 75% stake in Arm. Banks have generated about $3.4 billion in IPO fees globally year-to-date, down 21.3% from the same period last year, according to data provider Dealogic.

Persons: Dado Ruvic, Arm, SoftBank Group's, SoftBank, Goldman Sachs, JPMorgan Chase, JP Morgan, Banks, Echo Wang, Anirban Sen, Greg Roumeliotis, Matthew Lewis Organizations: REUTERS, clamoring, JPMorgan, Barclays, Mizuho Financial Group, Rivian, underwriters, Goldman, Mizuho, U.S, Thomson Locations: Ukraine, New York

Arm's stock market launch is expected to bring back to life a lackluster IPO market, which has over the last year seen several high-profile startups postpone their listing plans due to market volatility. Arm said that more than 50% of its royalty revenue for the most recent fiscal year came from smartphones and consumer electronics. The company, whose chip technology powers most smartphones including iPhones, did not reveal the number of shares it is planning to sell and the valuation it will seek. Arm makes money from upfront licensing fees for technology and then a royalty paid on each chip sold by Arm's customers. Arm's chip designs dominate the smartphone industry, but they are also used in laptops made by Apple (AAPL.O) and some Windows machines.

Persons: Dado Ruvic, SoftBank, Arm, Goldman Sachs, JPMorgan Chase, Manya Saini, Jaiveer, Stephen Nellis, Max Cherney, Echo Wang, Anirban Sen, Stephen Coates Organizations: REUTERS, Arm Holdings, Research, Reuters, Vision Fund, SECOND, Acorn Computers, Apple Inc, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, Nvidia Corp, Apple, Nvidia, U.S, Barclays Plc, JPMorgan, Mizuho Financial Group, underwriters, Thomson Locations: U.S, Saudi, China, Arm China, Bengaluru, San Francisco, New York

Arm's sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. In May, SoftBank reported that revenue for the year at Arm had grown 5.7% under International Financial Reporting Standards. Arm will disclose its latest financials next week under the U.S. accounting standards, the source added. Reuters had previously reported that SoftBank was aiming to list Arm at a valuation of $60 billion to $70 billion in the IPO. Arm's IPO preparations are being led by Goldman Sachs Group (GS.N), JPMorgan Chase (JPM.N), Barclays Plc (BARC.L) and Mizuho Financial Group.

Persons: SoftBank, Goldman Sachs, JPMorgan Chase, Arm's financials, Anirban Sen, Manya, Shinjini Organizations: Nasdaq, Reuters, Vision Fund, Goldman, JPMorgan, Barclays Plc, Mizuho Financial Group, Bloomberg News, Manya Saini, Thomson Locations: New York, Bengaluru

As of end-March, the three banks had total credit exposure of about $64 billion to China, or roughly 1% of their total assets, according to their financial statements. The FSA's request to look into China-related geopolitical risk was made in May, said two other sources. At a meeting last month, one of the banks was asked by the FSA how it is assessing risk related to China operations, one of them said. China claims democratically governed Taiwan as its territory and has never renounced the use of force to bring it under its control. Dealing with China sanctions would be extremely complex, the executive added.

Persons: Banks, SMFG, Antony Blinken, Wang Yi, Takaya Yamaguchi, Makiko Yamazaki, Sumeet Chatterjee, Jamie Freed Organizations: Financial Services, Mitsubishi UFJ Financial, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mizuho, American Chamber of Commerce, Reuters, Thomson Locations: China, TOKYO, Ukraine, Russia, United States, China . U.S, Beijing, West, Taiwan, U.S, Tokyo, New York

[1/4] Li Yunze, director of China's National Financial Regulatory Administration (NFRA), speaks at the Lujiazui Forum in Shanghai, China June 8, 2023. REUTERS/Jason XueSHANGHAI/BEIJING, June 8 (Reuters) - China is open for investment, the country's top financial regulators told foreign financiers at a high-profile forum in Shanghai on Thursday, as concerns mount among foreign firms that they may no longer be welcome. "Opening up is China's long-term national policy, and the door of China's financial industry will only be opened wider and wider." Yi Huiman, chairman of the China Securities Regulatory Commission, told forum participants that China will "adamantly" push for deregulation in terms of market access, institution qualification and products. Internal circulation will be supported by "external circulation," as in foreign financing and China's interactions with the global economy.

Persons: Li Yunze, Jason Xue, Goldman Sachs Group's, David Solomon, Tesla's, Elon Musk, Xi, Merrill Lynch, Li, Jane Fraser, Yi Huiman, Noah Fraser, Yi, Joe Cash, Shri Navaratnam, Edmund Klamann, Kim Coghill Organizations: China's, Financial Regulatory Administration, REUTERS, HSBC, Credit Agricole, Mizuho Financial, Paypal, China Securities Regulatory Commission, Canada China Business Council, Shanghai, Thomson Locations: Shanghai, China, Jason Xue SHANGHAI, BEIJING, U.S, flashpoints, Ukraine, South, Beijing, Inner Mongolia, Russia, Mongolia

TOKYO, June 6 (Reuters) - Japan's Nikkei index extended its climb to scale a near 33-year high on Tuesday, with trading houses and Uniqlo operator Fast Retailing leading the gains on technical support for heavyweight shares ahead of the fixing of special quotation prices. The Nikkei (.N225) recouped from early losses to close nearly 1% higher at 32,506.78. Shares of Fast Retailing (9983.T) climbed 1.73%, contributing the most to the Nikkei's advance, while trading company Mitsui & Co (8031.T) jumped 3.86%. Trading houses (.IWHOL.T) and mining companies (.IMING.T) led gains among the 33 industry sub-indexes on the Tokyo Stock Exchange, rising 2.5%. read moreReporting by Rocky Swift and Nobuyo Saito in Tokyo; Editing by Rashmi Aich and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: speculatively, Takashi Nakamura, Mio Kato, Nitto Denko, Rocky Swift, Nobuyo Saito, Rashmi Aich, Sherry Jacob, Phillips Organizations: Nikkei, Tokai Tokyo Research, Retailing, Mitsui & Co, Mizuho Financial Group, LightStream, Tokyo Stock Exchange, Apple, Thomson Locations: TOKYO, Japan, Tokyo

☆ Japanese lender Mizuho to buy Greenhill in $550 mln deal to expand US footprint
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Japan's Mizuho Financial Group Inc (8411.T) will acquire independent investment bank Greenhill & Co Inc (GHL.N) in an all-cash transaction, in a bid to expand further into U.S. investment banking. Of Japan's three megabanks, Mizuho has, however, been slower to move than bigger rivals Mitsubishi UFJ Financial Group (8306.T) and Sumitomo Mitsui Financial Group (8316.T). The Greenhill business will sit within Mizuho's banking division, led by Michal Katz, head of banking in the Americas, the statement said. Greenhill Chairman and CEO Scott L. Bok will become chairman of the M&A and restructuring advisory business, it added. Last year, Mizuho CEO Yoshiro Hamamoto told Reuters that the group's brokerage arm Mizuho Securities Co "has room for further growth" in the United States and acquisitions were an option it was exploring.

☆ Klaviyo files confidentially for U.S. IPO -sources
▼ + stars: | 2023-05-12 | by ( Echo Wang | ) www.reuters.com time to read: +2 min

NEW YORK, May 12 (Reuters) - Data and marketing automation firm Klaviyo Inc confidentially submitted paperwork on Friday with U.S. regulators for an initial public offering (IPO) in New York, according to people familiar with the matter. While terms of the IPO have not yet been set, the Boston-based company is mulling a raise of at least $750 million in the listing, one of the sources said. The Wall Street Journal had reported in April that Klaviyo was preparing for an IPO. With the IPO registration, Klaviyo becomes the second high-profile name in recent weeks to press ahead with an offering, even as stock market volatility and economic uncertainty has put many other IPO hopefuls off. SoftBank Group Corp's (9984.T) Arm Ltd filed confidentially for its stock market listing in April, Reuters reported.

While SoftBank had said in March it planned to list Arm in the U.S. stock market, the company's IPO registration shows that it is pressing ahead with the blockbuster offering despite adverse market conditions. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, the sources said. SoftBank and Arm declined to comment. There are signs that the IPO market is beginning to thaw. Arm's IPO preparations are being led by Goldman Sachs Group Inc (GS.N), JPMorgan Chase & Co (JPM.N), Barclays (BARC.L) and Mizuho Financial Group (8411.T).

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