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☆ Exclusive: ValueAct takes stakes in Recruit and Expedia, says they are poised for strong growth
▼ + stars: | 2023-11-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The Recruit logo is displayed at its headquarters in Tokyo, Japan May 10, 2022. REUTERS/Mayu Sakoda/ Acquire Licensing RightsNEW YORK, Nov 15 (Reuters) - ValueAct Capital Management has bought stakes in job search site Indeed's parent Recruit Holdings (6098.T) and in online travel services provider Expedia Group (EXPE.O) and believes both are poised for strong growth. Recruit is valued at roughly $49 billion while Expedia has a market value of about $17 billion. ValueAct CEO Mason Morfit was invited onto Salesforce's board this year and the stock price has surged 64% since January. There was no mention of Recruit or Expedia.

Persons: Mayu, Expedia, ValueAct, Mason Morfit, Svea Herbst, Bayliss, Edwina Gibbs Organizations: REUTERS, ValueAct Capital Management, Recruit Holdings, Expedia, Reuters, Recruit, Microsoft, Danaher Corp, Roblox, Alarm.com Holdings, Svea, Thomson Locations: Tokyo, Japan, Austin , Texas, Expedia, Illumina

TOKYO, Oct 25 (Reuters) - Kokusai Electric (6525.T) shares jumped 29% in their Tokyo market debut on Wednesday after private equity firm KKR sold shares in the chip equipment maker for $724 million in Japan's largest initial public offering (IPO) in five years. The stock opened at 2,116 yen and climbed to a high of 2,371 yen, valuing the company at 546.3 billion yen ($3.65 billion), as investors grabbed shares following the rare IPO of a key chip tool manufacturer. "The market for chip related stocks outside of AI is weak so some were wondering what would happen," said Tomoichiro Kubota, analyst at Matsui Securities. KKR agreed to buy Hitachi's (6501.T) electronic equipment unit in 2017 in a deal valuing the business at 257 billion yen ($1.72 billion) as the conglomerate streamlined operations. The private equity group then spun off Kokusai, which manufactures machines for depositing thin films on silicon wafers, the following year.

Persons: telco, Tomoichiro Kubota, Kazuyoshi Saito, Warren Buffett, Sam Nussey, Miho Uranaka, Mayu, Makiko Yamazaki, Chang, Ran Kim, Sonali Paul Organizations: KKR, telco SoftBank Corp, Matsui Securities, Reuters, Iwai Cosmo Securities, Materials, Equity, Thomson Locations: TOKYO, Tokyo, China, Japan

☆ Smart girls don’t marry? Japan rushes to erase stigma for women in science
▼ + stars: | 2023-07-12 | by ( Mariko Katsumura | ) www.reuters.com time to read: +5 min

[1/3] Yuna Kato works with male students at her college club to produce a light human-powered aircraft at the school, at Tokyo University in Tokyo, Japan June 30, 2023, in this screen grab from video. Kato has made it this far, but many aspiring female engineers choose a different path due to the social stigma, creating a massive headache for Japan. That is despite Japanese girls scoring second-highest in the world in maths and third in science, according to the OECD. School officials felt women were more likely to quit working after having children and would waste their education. NO DIVERSITY, NO INNOVATIONMore schools and companies including Mitsubishi Heavy Industries (7011.T) and Toyota (7203.T) are offering scholarships to female STEM students to attract talent.

Persons: Yuna Kato, Chris Gallagher TOKYO, Kato, Li, It's, Minoru Taniura, Kyoko Ida, ichi, we've, Mariko Katsumura, Mayu Sakoda, Rocky Swift, Chang, Ran Kim, Sonali Paul Organizations: Tokyo University, REUTERS, OECD, Reuters, Kato's Tokyo Institute of Technology, Mitsubishi Heavy Industries, Toyota, Mitsubishi, Panasonic, Thomson Locations: Tokyo, Japan, Mazda's

☆ Japan slammed by torrential rain as tropical storm nears
▼ + stars: | 2023-06-02 | by ( Elaine Lies | ) www.reuters.com time to read: +3 min

TOKYO, June 2 (Reuters) - Parts of Japan were slammed by torrential rain on Friday as Tropical Storm Mawar neared, with authorities advising more than a million people to evacuate, many flights and other transport cancelled and power outages in thousands of homes. Mawar, which wreaked havoc on Guam earlier this week, has weakened to a tropical storm from its earlier super typhoon status. Shinkansen bullet train service was halted from Tokyo to Osaka, western Japan, as well as some other parts of the nation, NHK public broadcaster reported. Similar weather patterns have caused flooding and landslides in the past, most notably in the summer of 2018, when more than 200 people were killed in western Japan. Though heavy summer rains are not uncommon in Japan, June is unusually early for a typhoon-type storm to near the islands.

Persons: Mawar, Hirokazu Matsuno, Elaine Lies, Mayu Sakoda, Kaori Kaneko, Shri Navaratnam, Lincoln, Frances Kerry Organizations: Disaster Management Agency, Transport Ministry, NHK, Toyota, JMA, Japan Meteorological Agency, Thomson Locations: TOKYO, Japan, Okinawa, Guam, Honshu, Wakayama prefecture, Tokyo, Osaka, Aichi prefecture, Shizuoka prefecture, Shikoku

The incident exposes vulnerabilities in Japan's security system and a failure to institute changes following the killing of former prime minister Shinzo Abe during an election campaign last year, four experts interviewed by Reuters said. Fukuda said for such big, international events, authorities are able to provide solid security by mobilising a huge police presence. The government has instructed authorities to strengthen security measures and to ensure safety precautions at gatherings of VIPs, he added. read moreIn Saturday's attack, the suspect was about 10 metres from Kishida, according to media reports. He said it showed that a review of security plans by the National Police Agency could only go so far.

Prime Minister Rishi Sunak said Britain had agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in a move his office said was the biggest trade deal since Brexit. Britain has been looking to build global trade ties following its departure from the EU in 2020 and has looked to pivot toward geographically distant but fast-growing economies. The overall impact of the trade deal is set to be modest. Japan has asked the U.S. to return to the trans-Pacific trade pact after Washington in 2017 formally withdrew from the Trans-Pacific Partnership trade deal, the predecessor to the CPTPP. Japan's chief cabinet secretary Hirokazu Matsuno said it was "desirable" for the U.S. to rejoin the trade pact and Tokyo would persist in pressing Washington to become a member.

Other investors who have held Toshiba longer may not be so lucky: the offer price represents a 15% discount from a December 2014 high. Some were introduced to JIP by Toshiba's management, some of the people said, declining to be identified because the information is not public. Toshiba's management, including CEO Taro Shimada, will stay on, while the government keeps Toshiba's sensitive defence and nuclear technologies in Japanese hands. Toshiba felt stable shareholders were desirable to end the tumult, unlike current shareholders "with many differing views", it said. JIP does not see the need for big strategy adjustments, Toshiba said.

☆ Rapidus picks northern Japan's Chitose as semiconductor plant location
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Feb 28 (Reuters) - Japan's state-backed Rapidus said on Tuesday it would build its semiconductor plant in Chitose, a manufacturing hub on the nation's northern island of Hokkaido. The factory and a Taiwan Semiconductor Manufacturing Co (2330.TW) plant under construction on the southern island of Kyushu are the key pillars of Japan's strategy to boost its capability to make more advanced chips and shield itself from supply chain snarls. Rapidus Chairman Tetsuro Higashi told Reuters this month that the company would need about 7 trillion yen ($51.4 billion) of mostly taxpayer money to begin mass producing advanced logic chips around 2027. Chitose, a city of about 100,000 people, already hosts a wide range of factories run by major manufacturers including silicon wafer maker SUMCO Corp (3436.T) and auto components maker Denso Corp (6902.T). ($1 = 136.1500 yen)Reporting by Kiyoshi Takenaka and Mayu Sakoda; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Rapidus to build chip factory in Chitose, northern Japan -media
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Feb 21 (Reuters) - Japan's state-backed chip venture Rapidus plans to build its first factory in Chitose city on Japan's northernmost major island of Hokkaido and is likely to make an announcement as early as next week, TV Tokyo reported on Tuesday. Chitose, a city of approximately 100,000 people in southwestern Hokkaido, already hosts manufacturing facilities of silicon wafer maker SUMCO Corp (3436.T), among others. A Rapidus spokesperson said nothing has been decided yet on the location. Rapidus told Reuters earlier this month that it would need about 7 trillion yen ($52 billion) of mostly taxpayer money to begin mass-producing advanced logic chips in around 2027.read more($1 = 134.8100 yen)Reporting by Kaneko Kaori, Mayu Sakoda and Kiyoshi Takenaka; Editing by Alex Richardson and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

[1/2] Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/IllustrationTOKYO, Feb 8 (Reuters) - Japan may opt for milder restrictions on chip production machinery sales in China than those implemented by the United States even though they agree on export curbs, an influential Japanese ruling party lawmaker told Reuters on Wednesday. "The United States is being strict, but there is a question of whether we have to exactly match that. Amari said he had been briefed by the Japanese government on the deal, which only the United states has so far publicly acknowledged. Reporting by Kiyoshi Takenaka, Tim Kelly and Mayu Sakoda; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's chip equipment makers in the dark about new China export restrictions
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Jan 30 (Reuters) - Japanese makers of semiconductor manufacturing machinery and materials used to make chips said on Monday they had yet to hear from Japan's government about export restrictions that could directly or indirectly affect their business in China. Without knowing the details of any new restrictions it is impossible to know their impact, he said. Its statement followed a Bloomberg report that the United States had secured a deal with the Netherlands and Japan. Among them was Tokyo Electron Ltd (8035.T), Japan's biggest semiconductor manufacturing machinery maker. Shares of Japanese semiconductor equipment makers were mostly flat on Monday, with Tokyo Electron up 0.68% while Advantest Corp (6857.T) fell 0.32%.

☆ Japan, Netherlands to join US in restricting chip equipment exports to China-Bloomberg
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Jan 27 (Reuters) - Japan and the Netherlands will soon agree to join the United States in restricting exports of semiconductor manufacturing equipment to China, Bloomberg News reported. Japan would impose similar restrictions on Nikon Corp (7731.T), the report said. "We have been in discussion with the United States and other countries regarding the export-control regime," Yasutoshi Nishimura, Japan's Minister of Economy, Trade and Industry, told reporters on Friday. "A balance needs to be struck so no one among Japan, the United States and Europe will be disproportionately disadvantaged. Japan expects sales at affected chip-related companies to rebound quickly because the market for their equipment is expanding, a trade and industry official involved in overseeing semiconductor firms told Reuters.

☆ Japan, Netherlands to join U.S. in restricting chip equipment exports to China, Bloomberg reports
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Jan 27 (Reuters) - Japan and the Netherlands will soon agree to join the United States in restricting exports of semiconductor manufacturing equipment to China, Bloomberg News reported. Japan would impose similar restrictions on Nikon Corp (7731.T), the report said. Deputy Chief Cabinet Secretary Seiji Kihara, a government spokesperson, said Japan would make "appropriate steps" based on the United States' and other nations' regulatory moves. "We have been in discussion with the United States and other countries regarding the export-control regime," Yasutoshi Nishimura, Japan's Minister of Economy, Trade and Industry, told reporters on Friday. "A balance needs to be struck so no one among Japan, the United States and Europe will be disproportionately disadvantaged.

☆ Japan lawmaker says TSMC is considering second plant in Japan
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 23 (Reuters) - A senior Japanese lawmaker said on Friday that Taiwan Semiconductor Manufacturing Co (2330.TW), the world's largest contract chip maker, is considering building a second plant in Japan in addition to an $8.6 billion dollar facility now under construction. "I believe TSMC is looking into further investments in Japan. TSMC said in an emailed statement that it did not rule out any possibility for Japan but there were no concrete plans at the moment. The Taiwanese company is building a chip plant in southern Japan, with Sony Group Corp (6758.T) and auto parts maker Denso Corp (6902.T) each taking a minority stake. "Technological innovation is fierce in the semiconductor industry," Seki said.

☆ Renesas halts work at Beijing plant due to COVID spread
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 19 (Reuters) - Japanese chip maker Renesas Electronics Corp (6723.T) suspended work at its Beijing plant on Friday because of COVID-19 infections, and will keep the facility shut for several days, a spokesperson said on Monday. "There won't be much impact for a stoppage that lasts only several days," the spokesperson said. A recent surge in COVID cases in China has hit major urban centres throughout the nation. Renesas is closely watched by investors because it makes around a third of all the microcontroller chips used by the world's carmakers. Reporting by Mayu Sakoda and Tim Kelly; Writing by Elaine Lies; Editing by Edmund Klamann & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

TOKYO, Dec 6 (Reuters) - Japanese electronics and entertainment conglomerate Sony Group Corp (6758.T) said on Tuesday it has the technology to make humanoid robots quickly once it has identified how they could be effectively used. "In terms of technology, several companies in the world including this one have enough technology accumulated to make them swiftly once it becomes clear which usage is promising," Sony Chief Technology Officer Hiroaki Kitano told Reuters in an interview. Sony launched a robot dog called Aibo more than two decades ago. Humanoid robots have been in development for decades by Honda Motor Co (7267.T) and Hyundai Motor Co (005380.KS) and in September, Tesla (TSLA.O) Chief Executive Elon Musk showed off a prototype of its humanoid robot Optimus. Musk's company is floating plans to deploy thousands of the robots in its factories, expanding eventually to millions around the world.

☆ Up, down, up again: Japan's soccer-related stocks mirror Samurai Blue's performance
▼ + stars: | 2022-12-02 | by ( Nobuyo Saito | ) www.reuters.com time to read: +2 min

TOKYO, Dec 2 (Reuters) - Japanese shares of soccer-related companies had a good day on Friday as they mirrored the national team's roller-coaster performance at the World Cup where the "Samurai Blue" delivered another shocking win, this time over global powerhouse Spain. Having also beaten four-times champions Germany in their first match last week, Japan advances to the knockout round at the top of the table. Access to the company's streaming platform hit a record of more than 10 million the day Japan clinched a surprise victory over Germany. "We're especially fielding a lot of calls about the limited-edition soccer boots that the Samurai Blue are wearing," a Mizuho spokesperson said. Pub operator Hub said COVID-19 could cloud comparisons against the last World Cup in 2018, but that "there's big hope riding" on the rest of the tournament.

Differences over JIP's plan to retain Toshiba CEO Taro Shimada and his team were a source of friction between the two bidders, according to two sources familiar with the talks. Despite being selected as preferred bidder, JIP has struggled to secure enough equity commitments from potential partners, sources have said. It now looks set to miss a Monday deadline to deliver a firm proposal that includes letters of commitment from banks, sources have said. In late October, JIC expanded the size of its buyout fund to 900 billion yen ($6.11 billion) from 200 billion yen. Two of the sources said the expansion was not just for a Toshiba buyout but also aimed at other deals.

☆ Japan Industrial Partners-led group looking to buy Toshiba for $19 bln -Kyodo
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 12 (Reuters) - The consortium of mostly domestic firms led by Japan Industrial Partners (JIP) is looking to buy Toshiba Corp (6502.T) for 2.8 trillion yen ($19.13 billion), Kyodo reported on Wednesday citing unnamed sources. The reported acquisition price marks a premium of about 26% from Toshiba's current market value of 2.22 trillion yen. Register now for FREE unlimited access to Reuters.com RegisterJIP's consortium will put up about 1 trillion yen and likely borrow the rest from financial institutions, Kyodo reported. It said the price could still change depending on Toshiba's share price and valuation premium. Asked about the report, a Toshiba spokesperson said the company could not comment on candidates as doing so could undermine fair process.

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