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☆ Whitehaven: Plan to build first coal mine in decades unlawful, UK court rules
▼ + stars: | 2024-09-13 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

CNN —Britain’s approval of its first new deep coal mine in decades was unlawful, London’s High Court ruled on Friday following a legal challenge brought by environmental campaigners. Friends of the Earth and South Lakeland Action on Climate Change challenged the previous Conservative government’s 2022 approval of a coking coal mine in northwest England. Britain dropped its defence of the legal challenges after a Supreme Court ruling earlier this year said planning authorities must consider the impact of burning, not just extracting, fossil fuels when deciding whether to approve projects. Developer West Cumbria Mining fought the case and said the project — which planned to extract coking coal for manufacturing steel, rather than to generate electricity — would be “a unique ‘net zero’ mine”. A spokesperson for West Cumbria Mining said the company “will consider the implications of the High Court judgment and has no comment to make at this time”.

Persons: CNN —, Niall Toru, Toru, James Strachan, David Holgate Organizations: CNN, Lakeland, Conservative, Earth, Developer West, Mining, West Cumbria Mining’s, West Cumbria Mining Locations: England, Britain, West Cumbria

☆ I thought I was a respectful traveler until I visited Japan. I felt like a rude child and wished I'd known better before I left.
▼ + stars: | 2024-09-06 | by ( Tricia Patras | ) www.businessinsider.com time to read: +5 min

But when I recently traveled from the US to Tokyo with friends, I found I wasn't as prepared for Japan as I'd thought. AdvertisementThrough trial and error, I learned rules I wish I'd known before I left — and things travelers should keep in mind if they visit Japan. AdvertisementIn Japan, it's considered rude to eat or drink in public while walking or standing. I also had to get used to removing my shoesRemoving your shoes upon entering certain places is considered respectful in Japan. Toru Kimura/ShutterstockDuring my trip, I also got used to taking off my shoes upon entering shared spaces, including my hotel.

Persons: —, I'm, it's, we're, who've, Toru Kimura, what's Organizations: Service, Business, Food Locations: Japan, Vatican, Taiwan, Tokyo, Chicago

☆ U.S. Olympian cheat sheet: Top athletes to watch in Paris beyond the best-known stars
▼ + stars: | 2024-07-24 | by ( Alex Andrejev | ) www.nytimes.com time to read: +20 min

He won gold at the 2023 Pan American Games in Santiago, Chile, to qualify for the Paris Olympics. Judo — Maria LabordeLaborde, 33, is the highest-ranked U.S. judoka qualified for the Paris Games — at No. He won gold at the 2023 Pan American Games and qualified in speed climbing for the Paris Games, his first Olympics. Carissa Moore participates in a training session ahead of the Paris Olympics this week in Teahupo’o, French Polynesia. Knibb obtained quotas in both triathlon and road cycling for the Paris Games, which will make her a rare multi-sport Olympian.

Persons: Simone Biles, Katie Ledecky, LeBron James, Barry, Kareem Maddox, Dylan Travis, Dearica Hamby, Rhyne Howard, Cierra Burdick, Hailey Van Lith, Casey Kaufhold, Kaufhold, she’s, Luann Ryon, Dean Alberga, Anita Alvarez Alvarez, Alvarez, Andrea Fuentes, Fuentes, Beiwen Zhang Zhang, She’s, Zhang, Kelly Cheng Cheng, nee Claes, Sarah Sponcil, Cheng, Sara Hughes, They’re, Brazil’s Ana Patricia Silva Ramos, Eduarda “ Duda ” Santos, United States ’ Taryn Kloth, Kristen Nuss, Jahmal Harvey Harvey, USA’s, Harvey, — Victor Montalvo Montalvo, Montalvo, Boy Victor, ”, Paris Victor Montalvo, He’ll, Kenzo Tribouillard, — Nevin Harrison Harrison, Casey Eichfeld, Jennifer Valente Valente, Valente, Andrew Capobianco Capobianco, Michael Hixon, Capobianco, Carson Tyler, Mike Ruiz, Delaney Schnell, Jessica Parratto, — McLain Ward Ward, Ward, Sapphire, — Lee Kiefer Kiefer, Gerek Meinhardt, Lee Kiefer, Matthias Hangst, Amanda Golini, Ashley Hoffman, Golini, Hoffman, — Maria Laborde Laborde, Laborde, Jess Davis Davis, Meghan Musnicki, Lisa Schlenker’s, Musnicki, Kevon Williams Williams, Williams —, Houston —, Kevon Williams, Yong Teck Lim, Daniela Moroz Moroz, Moroz —, —, — Vincent Hancock Hancock, he’s, Al Oerter, Carl Lewis, Michael Phelps, TeamUSA.com, Jagger Eaton Eaton, Tom Schaar, Eaton, Sam Watson Watson, Carissa Moore Moore, Moore, Carissa Moore, Jerome Brouilett, Lily Zhang It’s, China, — CJ Nickolas Nickolas, Jessica Stevens, — Taylor Knibb Knibb, Knibb, — Jordan Larson Larson, Toru Hanai, Maggie Steffens Steffens, Steffens, Flav, Olivia Reeves Reeves, Reeves, — Aaron Brooks, Brooks, David Taylor, Spencer Lee, Lee, Iran’s Hassan Yazdani, Aaron Brooks, Fabrice Coffrini Organizations: Paris Olympics, Olympic, Paris Games, BYU, Games, Tokyo Games, Getty, Badminton, USA, USC, Trojans, Eduarda “ Duda ” Santos Lisboa, United, U.S, Pan American, USA Boxing, Red Bull, Paris, Madison, U.S . Olympic, Tokyo, Athens Games, Beijing, University of Kentucky, FIH, Team USA, Pan American Games, NBC Sports, Rio, Rugby, rugby, Olympics, Fiji, New Zealand, HSBC SVNS Singapore, USA.com, Los Angeles Games, X, —, Tokyo Olympics, Nebraska, Sydney Games, Beijing Games, Brazil, Team USA’s Locations: Paris, Tokyo, U.S, women’s recurve, Berlin, Russia, Ukraine, Budapest, Barcelona, China, Indonesia, Mexico, United States, Santiago , Chile, Belgrade, Serbia, Florida, AFP, Rio, Japan, Athens, Ranchi, India, Germany, Lima , Peru, Cuba, London, Houston, Wujiang, Hawaii, Teahupo’o, French Polynesia, Beijing, Penn

☆ SoftBank shares jump up to 6.3% on report that Elliott Management's pushing for $15 billion in buybacks
▼ + stars: | 2024-06-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SoftBank Group Corp. is scheduled to announce its earnings figures on May 13. Elliott is lobbying for $15 billion worth of share buybacks, arguing that the buybacks will boost SoftBank's share price and "act as a sign of Son's confidence in his strategy," the Financial Times reported. SoftBank shares hit a high of 9,572 yen on Wednesday, 6.32% higher than its Tuesday closing price, according to LSEG data. Elliott had invested $2.5 billion in SoftBank in 2020 and sought share buybacks worth $20 billion along with governance changes, Financial Times reported that year. SoftBank Group declined to comment.

Persons: Toru Hanai, Elliott, SoftBank, Elliott's, Masayoshi Son Organizations: SoftBank Corp, SoftBank Group Corp, Bloomberg, Getty, SoftBank, Elliott Management, Financial Times, U.S Locations: Tokyo, Japan, SoftBank

☆ It looks like Taylor Swift will make it to the Super Bowl after all
▼ + stars: | 2024-02-11 | by ( Hannah Getahun | Associated Press | ) www.businessinsider.com time to read: +5 min

It arrived from Tokyo’s Haneda Airport to Los Angeles' LAX airport moments after 3:30 p.m. local time. Fans arrive at the Tokyo Dome, for the Taylor Swift concert, as part of the "Eras Tour" Wednesday, Feb. 7, 2024, in Tokyo. It’s so romantic," said office worker Hitomi Takahashi, 29, who bought matching Taylor Swift sweatshirts with her friend and took photos just outside the Tokyo Dome. Business Insider reported that the jet-setting starlet downsized from two planes to one plane. Representatives for Swift did not immediately respond to a request for comment from Business Insider.

Persons: —, Taylor, Swift, they've, Travis Kelce, sleuths, Taylor Swift, Eric Thayer, ” Swift, Toru Hanai, Hitomi Takahashi, ”, Jack Sweeney, Swift's, “ Organizations: Service, LAX, Business, NFL, Los Angeles International Airport, Kelce's Kansas City Chiefs, San Francisco 49ers, Swift, Chiefs Locations: Los Angeles, Las Vegas, Tokyo, Haneda, Kelce's, Washington, Asia, Australia, Instagram .

LOS ANGELES (AP) — Japan's Sekisui House Ltd. is buying Denver-based homebuilder M.D.C. Holdings Inc. for $4.9 billion in a deal that would make the Japanese company the fifth-largest builder of new homes in the U.S. The companies said Thursday that they reached a definitive agreement for Osaka-based Sekisui to acquire M.D.C. Holdings for $63 per share. The all-cash offer translates to a roughly 19% premium over M.D.C. Holdings' closing stock price Wednesday. Political Cartoons View All 253 ImagesIn addition to the U.S. and Japan, Sekisui House has operations in Australia, the U.K., China and Singapore. Among the U.S. home construction brands it now operates are Woodside Homes, Holt Homes, Chesmar Homes and Hubble Homes.

Persons: Toru Tsuji, Sekisui, homebuilders Organizations: ANGELES, Sekisui, Holdings Inc, U.S, M.D.C, Holdings, M.D.C . Holdings, . Holdings, Richmond American Homes, Woodside Homes, Holt Homes, Chesmar, Hubble Homes, Residential Holdings Locations: Denver, Osaka, California , Florida , Texas, Japan, Australia, China, Singapore, U.S, Woodside, Sekisui

☆ Japan wants higher returns for investors — here's what it's doing
▼ + stars: | 2024-01-12 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

3D render Da-kuk | E+ | Getty ImagesJapan is stepping up efforts to ensure its listed companies become more efficient with capital allocation and increase shareholder returns this year. "It's not just the Tokyo stock exchange, but the entire Japan government is pushing for better corporate governance right now," said Toru Yoshikawa, a business professor at Waseda University in Tokyo. watch nowWith this move, the onus also falls on Japan's government to ensure steady and reliable returns from Japan's companies. Corporate governance pushMonday's disclosures will be based on information as of December and the releases will be a monthly affair. "If rival companies are doing great improvements in corporate governance, others will tend to follow that move."

Persons: It's, Toru Yoshikawa, Fumio, Yoshikawa, Warren Buffet, Yunosuke Ikeda, Goldman Organizations: Getty, Japan, TSE, Waseda University, The Tokyo Stock Exchange, kickstarted, Japan Inc, Nippon, Savings, Corporate, Tokyo Stock Exchange, CNBC, Toyota, Goldman Sachs Locations: Japan, Tokyo, Denso, Goldman Sachs Japan

☆ Asia factory activity weakens, uncertainty on China clouds outlook
▼ + stars: | 2023-12-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang province, China May 17, 2020. The data shows that factories are producing less and hiring fewer people," Dan Wang, chief economist at Hang Seng Bank China, said of China's PMI readings, which have different samples. Export-reliant Japan, South Korea and Taiwan bore the brunt of sluggish global demand with their manufacturing activity remaining stagnant in November, surveys showed. Japan's final au Jibun Bank manufacturing PMI fell to 48.3 in November from 48.7 in October, shrinking at the fastest pace in nine months. Manufacturing activity also shrank in Taiwan, Vietnam and Malaysia, but expanded in Indonesia and the Philippines, the surveys showed.

Persons: Dan Wang, Toru Nishihama, Leika Kihara, Jamie Freed Organizations: REUTERS, PMI, Korea Soft, P Global, Hang Seng Bank, Dai, Research, Jibun Bank, Research Institute, Thomson Locations: Huzhou, Zhejiang province, China, Japan, S, TOKYO, Europe, United States, Hang Seng Bank China, South Korea, Taiwan, Asia, Vietnam, Malaysia, Indonesia, Philippines

☆ Japan's Nomura to cut risk assets, costs for wholesale business
▼ + stars: | 2023-11-29 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

The logo of Nomura Securities is seen at the company's Head Office in Tokyo, Japan, November 28, 2016. The fixed income trading business is expected to improve as the outlook for global interest rates becomes clearer, but "we won't just wait for a market recovery," he added. A bright spot for Nomura is the domestic business, as the Japanese stock market is trading at highest levels in three decades. Nomura's Japan business revenue for the April-September first half of the current fiscal year grew 31% from the same period a year before. The Japan market recovery "is providing the greatest business chance for us with the strong Japanese franchise and global investor base," he said.

Persons: Toru Hanai, Kentaro, Kentaro Okuda, Okuda, Nomura, Makiko Yamazaki, Simon Cameron, Moore, Kim Coghill Organizations: Nomura Securities, REUTERS, Rights, Nomura Holdings, Nomura, Thomson Locations: Tokyo, Japan

☆ ADNOC German oil deal has bad timing, good logic
▼ + stars: | 2023-11-28 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Abu Dhabi National Oil Company (ADNOC), the state-owned Abu Dhabi oil giant he runs, is considering a bid for BASF-owned (BASFn.DE) Wintershall Dea, at a potential $11 billion valuation. The UAE firm is already in talks to buy chemical company Covestro (1COV.DE), Wintershall’s German compatriot, for $12 billion. Abu Dhabi's oil riches mean the UAE firm has the wherewithal to pay 5.5 billion euros for BASF’s Wintershall stake. Any deal could value Wintershall Dea at more than 10 billion euros ($11 billion), Bloomberg reported. BASF holds a 72.7% stake in Wintershall Dea.

Persons: Toru Hanai, Wintershall, Jaber, It’s, Austria’s, Abu, LetterOne, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Abu Dhabi National Oil Company, BASF, The, Shell, Russian, Reuters Graphics Reuters, Abu, National Oil Company, Bloomberg, Wintershall Dea . Investment, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, The UAE, Germany, Norway, UAE, Europe, United Kingdom, Abu, Russia, Wintershall Dea

☆ Japan's Sumitomo Mitsui Financial Group CEO dies at 65
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

Sumitomo Mitsui Financial Group Inc (SMFG)'s new chief executive Jun Ohta attends a news conference in Tokyo, Japan, December 14, 2018. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Nov 27 (Reuters) - Sumitomo Mitsui Financial Group (SMFG) (8316.T) on Monday said group CEO Jun Ohta died on Nov. 25 aged 65 of pancreatic cancer. Japan's second-biggest lender after Mitsubishi UFJ Financial Group (8306.T) said it plans to announce a successor in the near future as soon as an appointment is made. Ohta joined The Sumitomo Bank, a predecessor of SMFG, in 1982 and rose to group CEO in April 2019. Ohta recently sought to expand SMFG's footprint in overseas markets through an alliance with U.S. investment bank Jefferies Financial Group (JEF.N).

Persons: Jun Ohta, Kim Kyung, Japan's, Toru Nakashima, Ohta, Mariko Katsumura, Rocky Swift, Kim Coghill, Christopher Cushing Organizations: Sumitomo Mitsui Financial Group Inc, REUTERS, Rights, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial, Sumitomo Bank, Keidanren, Jefferies Financial, Thomson Locations: Tokyo, Japan, SMFG

☆ Ava Marie Ziegler enjoys surprise win to lead American 1-2 in major international figure skating competition
▼ + stars: | 2023-11-25 | by ( Issy Ronald | ) edition.cnn.com time to read: +1 min

CNN —American teenager Ava Marie Ziegler won her first ISU Grand Prix Figure Skating title, as she sealed victory at the NHK Trophy in Osaka, Japan following a sparkling routine in the free skate. “I really used my fifth-place result yesterday to motivate me because I know that I could do better and I really used it to push me to be the best that I could be,” Ziegler said, according to the International Skating Union. It (this result) definitely helped with my confidence.”Ava Marie Ziegler of the United States reacts to her score. Toru Hanai/International Skating Union/Getty ImagesHer free skate routine yielded a personal best of 138.46 points, and she scored 200.50 points overall, breaking the 200-point mark for the first time in her career. While Ziegler and Thorngren have not qualified for the final, their compatriots Isabeau Levito and Ilia Malinin will represent the USA in the women’s and men’s singles, respectively.

Persons: Ava Marie Ziegler, Lindsay Thorngren, Belgium’s Nina Pinzarrone, Thorngren, axel, “, ” Ziegler, ” Ava Marie Ziegler, Toru Hanai, Ziegler, Isabeau Levito, Ilia Malinin Organizations: CNN, ISU, NHK, International Skating Union, Skating Union, Getty Locations: Osaka, Japan, United States, Beijing, China, USA

☆ Japan's factory activity shrinks for 6th month on weak demand - PMI
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) slipped to 48.1 in November from 48.7 in October. "Demand conditions at private sector firms remained muted in November and were little-changed from October." The au Jibun Bank flash services PMI stood at 51.7 in November, little changed from 51.6 in October, showing modest expansion in the sector, but it was the second-weakest reading so far this year. Firms stayed confident about the business activity outlook for one year ahead, the survey said. The au Jibun Bank Flash Japan composite PMI, which combines both manufacturing and service sector activity, stood at 50.0 in November from 50.5 in October.

Persons: Toru Hanai, Usamah Bhatti, Kaori Kaneko, Kim COghill Organizations: REUTERS, Rights, P Global Market Intelligence, PMI, Firms, Jibun Bank Flash Japan, Thomson Locations: Kawasaki, Japan

☆ 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

☆ Panasonic’s auto deal deserves a speedy sequel
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsHONG KONG, Nov 22 (Reuters Breakingviews) - Panasonic’s (6752.T)decision to sell part of its automotive unit suggests CEO Yuki Kusumi’s plans are taking a promising turn. The business, which pioneers technology like infotainment systems for the next generation of internet-connected cars, is a growing but capital-intensive opportunity. Selling a stake to Apollo Global Management (APO.N), with the possibility of a listing later, could help fund faster development without denting Panasonic’s balance sheet or returns. This was an obvious target for Kusumi, who previously led the auto unit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Toru Hanai, Yuki Kusumi’s, Panasonic’s, it’s, Katrina Hamlin, Francesco Guerrera, Thomas Shum Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Reuters, Apollo Global Management, Sony, Hitachi, Panasonic, X, Walmart, Thomson Locations: JAPAN, Chiba, Japan, HONG KONG, Asia, Rome

☆ Panasonic plans to sell stake in autos business to Apollo Global funds
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

A logo of Panasonic Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Nov 17 (Reuters) - Japan's Panasonic Holdings (6752.T) said on Friday it plans to sell a stake in its automotive systems business to funds managed by U.S. private equity firm Apollo Global Management, and has signed a memorandum of understanding with an Apollo affiliate. Continued investment in the automotive systems business would be necessary to achieve sustained growth for the company amid a rapid shift to electric cars and changes to vehicle architecture, Panasonic said. The automotive unit makes cockpit and electronics systems. It is separate from Panasonic's energy unit that makes batteries for electric vehicles, including those from Tesla (TSLA.O).

Persons: Toru Hanai, Daniel Leussink, David Dolan, Christopher Cushing Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Rights, Japan's Panasonic Holdings, U.S, Apollo Global Management, Apollo, Panasonic, Thomson Locations: JAPAN, Chiba, Japan, Tokyo

☆ Japan's export growth slows as China, global downturn risks loom
▼ + stars: | 2023-11-16 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

A worker is seen among newly manufactured cars awaiting export at port in Yokohama, Japan, November 15, 2017. Weak exports have complicated Japan's efforts to spur economic growth with sluggish domestic demand also weighing on the post-pandemic recovery. Japan's export growth slowsJapan's economy weakened in July-September, snapping two straight quarters of expansion on soft consumption and exports, data showed on Wednesday. By destination, exports to China, Japan's largest trading partner, fell 4.0% year-on-year in October, posting 11 straight months of declines. The trade balance came to a deficit of 662.5 billion yen ($4.38 billion), versus the median estimate for a 735.7 billion yen deficit.

Persons: Toru Hanai, Atsushi Takeda, Tetsushi Kajimoto, Satoshi Sugiyama, Sam Holmes Organizations: REUTERS, TOKYO, Ministry of Finance, Itochu Economic Research Institute, Thomson Locations: Yokohama, Japan, China, United States, Europe

☆ Japan fund INCJ sells $1.8 bln of Renesas shares
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

Renesas Electronics Corp's logo is pictured at the company's conference in Tokyo, Japan, April 11, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Nov 10 (Reuters) - Japanese state-backed fund INCJ said it has sold all but a token portion of its stake in semiconductor manufacturer Renesas Electronics (6723.T), offloading 279 billion yen ($1.84 billion) worth of shares. INCJ had previously held 6.65% of Renesas' shares, it said in a statement on Thursday. The sale price of 2,143 yen ($14.17) per share represented a discount of 8.01% on Renesas' closing share price of 2,329.5 yen on Thursday, the fund said in a separate statement on Friday. Renesas' shares had dropped 4.5% to 2,224 yen by mid-morning on Friday.

Persons: Toru Hanai, INCJ, Renesas, Anton Bridge, Christopher Cushing, Muralikumar Organizations: REUTERS, Rights, Renesas Electronics, Thomson Locations: Tokyo, Japan

☆ Abu Dhabi's ADNOC makes new bid for stake in Brazil's Braskem; shares soar
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai Acquire Licensing RightsSAO PAULO, Nov 9 (Reuters) - Brazilian petrochemical producer Braskem (BRKM5.SA) on Thursday said Abu Dhabi oil company ADNOC (ADNOC.UL) has presented a new non-binding offer to buy conglomerate Novonor's stake in the firm. The petrochemical company cited a letter exchange with Novonor in its filing. The conglomerate would be granted a minority stake of up to 3% in Braskem following the deal, Braskem added. ADNOC had previously presented a joint cash-and-debenture offer alongside U.S. asset manager Apollo (APO.N) for Braskem, with other bidders for the firm including Brazil's Unipar Carbocloro (UNIP6.SA) and J&F.

Persons: Toru Hanai, Braskem, ADNOC, Folha de S.Paulo, BTG, Pedro Soares, we're, Brazil's Unipar, Gabriel Araujo, Steven Grattan, Tomasz Janowski, David Evans Organizations: REUTERS, SAO PAULO, Petrobras, PETR4, Novonor's, Sao Paulo, Novonor, Folha de, ADNOC, U.S, Apollo, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, Sao, Braskem

☆ Honda posts 31% Q2 operating profit jump, raises full-year forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

People are reflected on a Honda Motor car outside the company's headquarters in Tokyo, Japan February 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsCompanies Honda Motor Co Ltd FollowTOKYO, Nov 9 (Reuters) - Japan's Honda Motor (7267.T) posted a 31% increase in operating profit for the September quarter on Thursday, lifted by stronger sales in the United States and a weaker yen, and raised its full-year forecast by 20%. Japan's second-biggest automaker by sales said operating profit totalled 302.1 billion yen ($2.0 billion) in the three months to Sept. 30, compared with an average 345.3 billion yen estimate in a poll of 10 analysts by LSEG. Honda raised its full-year operating profit forecast to 1.2 trillion yen from the 1 trillion yen it had expected, largely in line with the 1.237 trillion yen average forecast from 21 analysts. ($1 = 151.0600 yen)Reporting by Daniel Leussink; Editing by David Dolan and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Toru Hanai, Daniel Leussink, David Dolan, Gerry Doyle Organizations: Honda Motor, REUTERS, Honda, LSEG, Thomson Locations: Tokyo, Japan, United States, China

☆ Japan business mood improves, but global stress dims outlook - Reuters Tankan
▼ + stars: | 2023-11-07 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

People walk on a crosswalk at a business district in central Tokyo, Japan September 29, 2017. The monthly poll mirrored a similar improvement seen in the third quarter in the Bank of Japan's (BOJ) closely-watched quarterly tankan survey. The service-sector index grew to plus 27 from plus 24 in the previous month, led by retailers, information and communications, and other services. Analysts expect Japan's economy, the world's third-biggest, to have shrunk in the third quarter, the first contraction in four quarters, according to a Reuters poll. The Reuters Tankan indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones.

Persons: Toru Hanai, Tetsushi, Shri Navaratnam Organizations: REUTERS, Reuters, Bank of Japan's, pessimists, Thomson Locations: Tokyo, Japan, TOKYO, China

☆ Japan's Itochu raises profit forecast on strong machinery business
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsNov 6 (Reuters) - Japanese trading house Itochu (8001.T) posted a 14.5% drop in six-month net profit on Monday but raised its full-fiscal year profit forecast on stronger expectations for its machinery business and the weaker yen. Itochu increased its net profit forecast for the year ending in March 2024 by 20 billion yen to 800 billion yen ($5.4 billion) after weaker coal and iron ore prices resulted in its half-year net profit falling to 412.90 billion yen. "We have raised our full-year profit forecast for the machinery segment, backed by strong performance of automobile, construction machinery and North America's power business," President and Chief Operating Officer Keita Ishii told a news conference. The full-year profit forecast for Itochu's machinery business -- its second-biggest profit contributor after the metals and minerals segment and which makes ship and car parts and industrial machinery -- was increased by 10 billion yen to 115 billion yen. The company also said it will buy back up to 1.2% of its shares, worth 75 billion yen.

Persons: Toru Hanai, Keita Ishii, Ishii, Katya Golubkova, Yuka Obayashi, Kim Coghill, Savio D'Souza Organizations: Itochu, REUTERS, Mitsui, Mitsubishi, Sumitomo, Thomson Locations: Tokyo, Japan, China

☆ Japan's Itochu H1 net profit down 14.5% y/y, sets buy back
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: 1 min

The logo of Itochu Corp is seen outside the company's headquarters in Tokyo, Japan, November 7, 2016. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsNov 6 (Reuters) - Japanese trading house Itochu (8001.T) on Monday posted a 14.5% drop in six-month net profit but raised its full-fiscal year profit forecast on stronger non-resource business development expectations and weaker yen. Itochu's net profit to Sept. 30 was 412.90 billion yen ($2.8 billion), down from the same period last year on weaker coal and iron ore prices. It raised its net profit forecast for the year ending in March 2024 by 20 billion yen to 800 billion yen. The company will buy back up to 1.2% of its shares worth 75 billion yen, it added on Monday.

Persons: Toru Hanai, Katya Golubkova, Kim Coghill Organizations: Itochu, REUTERS, Thomson Locations: Tokyo, Japan

☆ Asia markets set to be mixed ahead of Japan's central bank decision and South Korea inflation this week
▼ + stars: | 2023-10-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Buildings are illuminated at night in Tokyo, Japan, on Friday, July 21, 2023. Toru Hanai | Bloomberg | Getty ImagesAsia-Pacific markets are set to fall ahead of a week of key economic data from around the region. Monetary policy decisions from Japan and Malaysia, inflation data from South Korea, and gross domestic growth figures from Taiwan and Hong Kong are the regional highlights of the week. Japan's Nikkei 225 is also set to fall as the Bank of Japan starts its two-day monetary policy meeting, with the futures contract in Chicago at 30,665 and its counterpart in Osaka at 30,650 against the index's last close of 30,991.69 In Australia, the S&P/ASX 200 slipped 1.04%, ahead of September retail sales readings on Monday. Futures for Hong Kong's Hang Seng index stood at 17,175, pointing to a weaker open compared to the HSI's close of 17,398.73

Persons: Toru Hanai Organizations: Bloomberg, Getty, Nikkei, Bank of Japan Locations: Tokyo, Japan, Asia, Pacific, Malaysia, South Korea, Taiwan, Hong Kong, Chicago, Osaka, Australia

☆ T. Rowe beats profit estimates on higher fee-based income
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

The logo of T. Rowe Price Group is pictured at its office in Tokyo, Japan, January 13, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsOct 27 (Reuters) - T. Rowe Price Group (TROW.O) reported a better-than-expected quarterly profit on Friday, as concerns about the economy somewhat eased from last year, boosting assets under management at the firm. "However, our flows remain pressured, with net outflows from equity outweighing the positive net flows to fixed income, multi-asset and alternatives in this quarter," CEO Rob Sharps said in a statement. Total assets under management at the end of the quarter was $1.35 trillion, up 9.5% over the year earlier. Investment advisory fees were up 1.5% at $1.46 billion in the quarter, T. Rowe said.

Persons: Rowe Price, Toru Hanai, Rob Sharps, Rowe, Sri Hari, Shilpi Majumdar Organizations: REUTERS, Federal Reserve, Sri, Thomson Locations: Tokyo, Japan, Baltimore , Maryland, Bengaluru

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