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☆ 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

☆ 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.

TOKYO, April 7 (Reuters) - The Bank of Japan (BOJ) should be cautious about changing its unconventional monetary policy for now, given financial market uncertainty due to problems in Western banks, former top financial diplomat Takehiko Nakao told Reuters in an interview. Nakao made the comments amid speculation the BOJ may abandon its yield curve control policy when new Governor Kazuo Ueda takes over incumbent Haruhiko Kuroda, whose term ends on April 8. U.S. bank failures and the buyout of Credit Suisse by UBS last month have driven financial market risk aversion. Nakao said the BOJ must carefully monitor market developments, for now, although credit anxiety was unlikely to morph into anything like the 2008/09 global financial crisis. "Yet, the BOJ cannot continue unconventional monetary policy, including ETF and REIT purchases and YCC, indefinitely.

TOKYO, Dec 27 (Reuters) - The Bank of Japan (BOJ) has modified its stimulus measures to ease the transition away from an unconventional monetary policy when Governor Haruhiko Kuroda retires in April, former top currency diplomat Takehiko Nakao told Reuters in an interview. "The BOJ has not succeeded so much in raising inflation expectations and bringing down real interest rates while side-effects became larger. "The yen was too strong back then, but now the yen is clearly too weak," Nakao said, declining to specify preferred levels under current circumstances. Nakao said Japan's waning economic power and its excessively expansionist policy are weighing on the yen and making Japanese assets vulnerable to takeovers by overseas investors. "It is helpful that raising interest rates lead to some strengthening of the yen."

☆ Toshiba says aims to reach deal with potential partners soon as possible
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 16 (Reuters) - Japan's Toshiba Corp (6502.T), which is talks about a buyout, said in a letter to shareholders on Friday that it was aiming to reach as conclusion with potential partners as soon as possible. Toshiba is "planning to receive binding and bona-fide proposal(s) and shall be making strong efforts to arrive at a conclusion as early as possible after necessary negotiations," the letter said. Sources have told Reuters that the company's preferred bidder, Japan Industrial Partners (JIP), was moving closer to securing financing from banks for a buyout. A deal is expected to value the industrial conglomerate at around 2.2 trillion yen ($16 billion). Shares in Toshiba, whose businesses span nuclear power, defence technology and which owns 40% of memory chip maker Kioxia Holdings, were up 1.7% in mid-morning trade.

Banks still have to mark the loan to its market value on their books and set aside funds for losses that are reported in quarterly results. The deliberations of how some of these banks are thinking about accounting for these losses have not been previously reported. Three banking industry sources said the remaining $3 billion, which is unsecured, could lead to steeper losses for the seven Twitter banks. Some market participants expect the losses from the debt to be significant unless market conditions improve. Some $35 billion to $40 billion of such loans are stuck on banks' books, according to two fixed income bankers.

TOKYO/HONG KONG, Dec 8 (Reuters) - Japan Industrial Partners, the preferred bidder to buy out Toshiba Corp (6502.T), has moved closer to securing financing from banks, three people with knowledge of the matter said. JIP's bid has called for Toshiba management to retain their jobs - a proposal which initially made some of the banks cautious about lending, sources have said. The sources all declined to be identified as the talks are private. Sumitomo Mitsui Banking Corp, the core unit of Sumitomo Mitsui Financial Group Inc (8316.T), and Mizuho Bank Ltd, the core unit of Mizuho Financial Group Inc (8411.T) declined to comment. ($1 = 137.0500 yen)Reporting by Kane Wu, Makiko Yamazaki and Ritsuko Shimizu; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Cererea de produse fabricate în China a crescut atât de mult încât nu există suficiente containere pentru livrare
▼ + stars: | 2021-01-07 | by ( ) www.jurnal.md time to read: +2 min

Începând din luna iulie a anului trecut, exporturile din China au fost în creştere, stimulate de achiziţiile de produse care au legătură cu pandemia, precum măşti şi echipamente pentru munca de acasă, inclusiv computere. În schimb, importurile Chinei nu au înregistrat o creştere similară, ceea ce a avut drept rezultat o lipsă de containere maritime care să ajungă în China pentru a fi umplute şi trimise din nou spre pieţele externe, informează Agerpres. Aceasta avertizează că criza de containere maritime ar putea să se agraveze pe măsură ce exportatorii vor căuta să îşi prioritizeze livrările înaintea Anului nou lunar chinezesc, care începe în februarie. La rândul său, cea mai mare companie sud-coreeană de shipping, HMM Co., a estimat joi că lipsa de containere şi spaţii pe nave ar putea continua în prima jumătate a lui 2021. HMM Co. a fost nevoită să introducă un număr suplimentar de nave pe rutele spre SUA, pentru a ajuta companiile sud-coreene să îşi livreze bunurile şi va introduce o navă suplimentară spre Europa la finele acestei luni.

Persons: Serena Zhou, Serena Zhou . Organizations: Agerpres, Financial Group Inc, HMM Locations: China, Chinei, Hong Kong, Europa, Japonia, Asia de Sud - Est, India, SUA

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