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Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "It seems that Ueda's comments were intended to stop the yen's slide against the dollar," said Takehiko Masuzawa, trading head at Phillip Securities Japan. Christopher Wong, a currency strategist at OCBC, attributed the dollar's slide to traders "lightening up" on their long dollar positions ahead of the data. Against the weaker U.S. dollar, the Aussie and the New Zealand dollar were among the biggest beneficiaries, each rising more than 0.5%. The Australian dollar was last 0.6% higher at $0.64165, while the kiwi gained 0.52% to $0.5914.

Persons: Florence Lo, Kazuo Ueda stoked, Ueda, Takehiko, Sterling, Christopher Wong, Alvin Tan, Matt Simpson, Rae Wee, Junko Fujita, Sam Holmes, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Yomiuri, Federal Reserve, Phillip Securities Japan, British, Fed, Treasury, Asia FX, RBC Capital Markets, Index, Aussie, New Zealand, Thomson Locations: Rights SINGAPORE, Japan, Asia, United States, U.S, Singapore, Tokyo

☆ Morning Bid: China's weak property stocks set the pace
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 4, 2023. Property shares are taking a beating after weekend data showed new home sales in China's biggest cities slumped by half in the first week of this month. Reuters GraphicsMeanwhile, China's central bank yanked the yuan off a 16-year low by setting the strongest official midpoint fixing - as compared with market expectations - on record. BOE chief economist Huw Pill is on speaking duty today, setting the scene for British jobs data on Tuesday and GDP the day after. That makes U.S. CPI data due Wednesday the key data point to watch this week.

Persons: Kevin Buckland, HSI, Kazuo Ueda, it's, BOE, Huw Pill, Edmund Klamann Organizations: REUTERS, Staff, China . Property, Bank of Japan, Yomiuri, ECB, Bank of England, Fed, U.S, CPI, Reuters, Thomson Locations: Frankfurt, Germany, Europe, Asia, China, China's, Sweden, Italy

☆ Yen jumps on Ueda's remarks, dollar tentative ahead of U.S. inflation print
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: +3 min

A sheet of newly-designed Japanese 10,000 yen banknotes at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. Ueda told the Yomiuri newspaper in an interview that the BOJ could have enough data by year-end to determine whether it can end negative rates. "Ueda is laying the foundations for an exit from negative interest rates, and he is giving plenty of notice," said Matt Simpson, senior market analyst at City Index. The dollar index , which capped last week with eight straight weeks of gains, its longest run since 2014, dipped slightly to 104.84. The Australian dollar , often used as a liquid proxy for the yuan, rose 0.29% to $0.6397, while the New Zealand dollar edged 0.28% higher to $0.5900.

Persons: Kazuo Ueda stoked, Ueda, Matt Simpson, Alvin Tan, Index's Simpson Organizations: National Printing Bureau, Bank of Japan, Yomiuri, Federal Reserve, British, Sterling, Fed, U.S, Treasury, Asia FX, RBC Capital Markets, New Zealand Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Asia, United States

☆ BOJ head Ueda signals chance of ending negative rates - Yomiuri
▼ + stars: | 2023-09-08 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

The central bank could have enough data by year-end to determine whether it can end negative rates, Ueda told the paper in an interview on Wednesday. "If we judge that Japan can achieve its inflation target even after ending negative rates, we'll do so," he added. The BOJ currently guides short-term interest rates at -0.1% under its negative rate policy. Ueda repeated the stance in the interview, saying the BOJ will "patiently" maintain ultra-loose policy for the time being. Under a negative rate policy, banks and other financial institutions are required to pay interest for parking excess cash -- beyond what authorities say they must keep on hand for safety reasons -- with the central bank.

Persons: Florence Lo, BOJ, Ueda BOJ, Kazuo Ueda, Ueda, we're, Leika, Jonathan Oatis, Josie Kao, David Gregorio Our Organizations: REUTERS, Bank of Japan, Yomiuri, Thomson Locations: TOKYO, Japan

☆ Japan PM Kishida plans Sept 13 cabinet reshuffle, coalition partner says
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Japan's Prime Minister Fumio Kishida speaks during the leaders talk of the ASEAN-Indo Pacific Forum (AIPF) in Jakarta, Indonesia September 6, 2023. Adek Berry/Pool via REUTERS/File photo Acquire Licensing RightsTOKYO, Sept 8 (Reuters) - Japanese Prime Minister Fumio Kishida plans to reshuffle his cabinet on Sept. 13, the head of the junior partner in Kishida's ruling coalition said on Friday. On Thursday, there was further bad news when former ruling Liberal Democratic Party member Masatoshi Akimoto was arrested on suspicion of taking bribes. 56% of people thought Kishida should renew his cabinet and shake up the senior executives of the ruling party. Reporting by Kantaro Komiya, Sakura Murakami, Kiyoshi Takenaka; editing by John Stonestreet and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Fumio Kishida, Adek Berry, Natsuo Yamaguchi, Kishida, Masatoshi Akimoto, Akimoto, Kantaro Komiya, Sakura Murakami, Kiyoshi Takenaka, John Stonestreet, Susan Fenton Organizations: Japan's, ASEAN, Pacific, Rights, Public, NHK, Liberal Democratic Party, Asahi, Yomiuri, Thomson Locations: Jakarta, Indonesia, India

☆ Japan's Mitsubishi Heavy reschedules moon rocket launch for Thursday
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

The logo of Mitsubishi Heavy Industries is seen at the company headquarters in Tokyo, Japan December 8, 2022. REUTERS/Kim Kyung-Hoon/file photo Acquire Licensing RightsTOKYO, Sept 4 (Reuters) - Japan's Mitsubishi Heavy Industries (7011.T) said on Monday it planned to launch its H-IIA rocket carrying a moon lander on Thursday morning, after unfavourable wind conditions led to a postponement last month. The new schedule was announced a week after the previous launch attempt, which would have carried Japan's first spacecraft to land on the moon, was suspended because of high winds. H-IIA, jointly developed by JAXA and MHI, has been Japan's flagship space launch vehicle, with 45 successful launches in 46 tries since 2001. After JAXA's new medium-lift H3 rocket failed on its debut in March, the agency postponed the launch of H-IIA No.

Persons: Kim Kyung, JST, Rocky Swift, Mariko Katsumura, Christian Schmollinger, Gerry Doyle Organizations: Mitsubishi Heavy Industries, REUTERS, Rights, Japan Aerospace Exploration, JAXA, Yomiuri, Thomson Locations: Tokyo, Japan

Tokyo, Japan CNN —Evacuation warnings have been issued to more than 237,000 people across 11 prefectures in Japan as Typhoon Lan hit the west of the country on Tuesday, according to Japan’s Fire and Disaster Management Agency. At least 26 people have been injured in five prefectures across western Japan, according to Japan’s public broadcaster NHK, citing police and fire officials. In two towns in Tottori and Okayama prefectures, rainfall over a few hours on Tuesday exceeded the average for the entire month of August. A swollen river as Typhoon Lan makes landfall in Shingu City, Wakayama Prefecture on Tuesday. Typhoon Lan follows Typhoon Khanun, which lashed southwestern Japan with wind and rain earlier this month.

Persons: Typhoon Lan, Lan, Takumi Harada, Koji Ito, Khanun Organizations: Japan CNN, Disaster Management Agency, NHK, Japan Meteorological Agency, Yomiuri Shimbun, Japan’s Ministry of Land, Infrastructure, Tourism, CNN, Japan Airlines, All Nippon Airlines, ANA Locations: Tokyo, Japan, Shionomisaki, Japan’s Wakayama, Tottori, Okayama, Shingu City, Wakayama Prefecture, Nagoya City, Aichi Prefecture, Kansai, Chubu, Nagoya

☆ U.S., Japan to develop hypersonic missile interceptor - Yomiuri
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tim KellyTOKYO, Aug 13 (Reuters) - Japan and the U.S. will agree this week to jointly develop an interceptor missile to counter hypersonic warheads being developed by China, Russia and North Korea, Japan's Yomiuri newspaper said on Sunday. Officials at Japan's Ministry of Foreign Affairs could not be reached for comment outside business hours. Unlike typical ballistic warheads, which fly on predictable trajectories as they fall from space to their targets, hypersonic projectiles can change course, making them more difficult to target. An agreement would be the second such collaboration in missile defence technology. Washington and Tokyo developed a longer-range missile designed to hit warheads in space, which Japan is deploying on warships in the sea between Japan and the Korean peninsula to guard against North Korean missiles strikes.

Persons: Marine's Camp Foster, Tim Kelly TOKYO, Joe Biden, Fumio Kishida, Biden, Yoon Suk, Antony Blinken, Lloyd Austin, Yoshimasa Hayashi, Yasukazu Hamada, Tim Kelly, William Mallard Organizations: U.S, Marine's, REUTERS, Japan's Yomiuri, Japanese, Japan's Ministry of Foreign Affairs, Yomiuri, North Korean, Thomson Locations: Ginowan, Okinawa, Japan, U.S, China, Russia, North Korea, Camp David, Maryland, Washington, Tokyo

☆ Japanese vice minister quits as PM Kishida's ratings slide
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Tokyo prosecutors raided the office of ruling Liberal Democratic Party lawmaker Masatoshi Akimoto on suspicion that he took bribes amounting to tens of millions of yen, according to public broadcaster NHK. The foreign ministry later announced that Akimoto had stepped down from his post as a vice minister. The resignation comes after Kishida's approval rating slid to its lowest since he took office in 2021. Errors that have recently come to light with the card have included health insurance information linked to the wrong social security account and welfare payments made to the wrong person. State broadcaster NHK and other media have reported that Tokyo prosecutors suspect Japan Wind Development Co paid bribes to Akimoto.

Persons: Masatoshi Akimoto, Amit Dave, Fumio Kishida, Akimoto, Hirokazu Matsuno, Sakura Murakami, Robert Birsel Organizations: Land, Transport, Speed, Kalupur, REUTERS, Liberal Democratic Party, NHK, Yomiuri, State, Development, Reuters, Thomson Locations: Infrastructure, Tourism, Ahmedabad, Mumbai Ahmedabad, India, TOKYO, Tokyo, The Tokyo

☆ Nissan to invest some $725 mln in Renault's EV unit, Yomiuri says
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 14 (Reuters) - Nissan Motor (7201.T) is likely to invest around 100 billion yen ($725 million) in Renault's (RENA.PA) new electric vehicle unit, the Yomiuri Shimbun said on Friday, potentially clearing a hurdle in drawn-out talks to reshape their automaking alliance. The Japanese automaker on Thursday settled on the terms for a contract to overhaul its partnership with Renault and agreed with its French partner on the investment amount in the EV unit, Ampere, the Yomiuri said. A Nissan spokesperson said discussions about the contract, including the investment amount, were not yet finalised. That would be short of the 15% maximum Nissan set in February for the investment. ($1 = 138.0200 yen)Reporting by Daniel Leussink and Elaine Lies; Editing by Chris Reese and David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ampere, Daniel Leussink, Elaine Lies, Chris Reese, David Dolan Organizations: Nissan, Yomiuri Shimbun, Renault, EV, Yomiuri, Mitsubishi Motors, Thomson Locations: TOKYO, Renault's

☆ Japan's base salaries jump most since 1995, puts Bank of Japan's policy into view
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: +1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ), far right, speaks during an event at the central bank's headquarters in Tokyo, Japan, on Wednesday, May 31, 2023. Ueda said central banks need to be more careful about how they communicate with increase in their toolkits and advancements in monetary policy making. Global financial markets have been closely watching Japan's wage data, as Bank of Japan Governor Kazuo Ueda regards pay growth as a key gauge to consider in deliberations about a shift in policy. Regular wages rose 1.8% in May from a year before, labor ministry data showed, the biggest gain since February 1995. The strong base pay growth boosted worker's total cash earnings, or nominal wages, by 2.5% in May, after a revised 0.8% increase logged in April.

Persons: Kazuo Ueda, Ueda, Noriaki Sasaki, Kuroda, Hisashi Yamada, Rengo Organizations: Bank of Japan, Yomiuri Shimbun, Bloomberg, Getty, Global, Hosei University Locations: Tokyo, Japan

☆ IAEA head Grossi meets with local residents ahead of visit to wrecked Fukushima plant
▼ + stars: | 2023-07-04 | by ( Sakura Murakami | ) www.reuters.com time to read: +3 min

TOKYO, July 5 (Reuters) - International Atomic Energy Agency (IAEA) chief Rafael Grossi met residents on Wednesday to assuage concerns over the safety of Japan's plan to release treated radioactive water from the wrecked Fukushima Daiichi nuclear power plant into the ocean. The reality of people, the economy, and social perceptions may be different from the science, he said, acknowledging the fears surrounding the water release. Grossi will visit the wrecked plant on Wednesday, where he will inaugurate an IAEA office on site that will monitor the release of the water, which is expected to take 30 to 40 years. Some neighbouring countries have also raised concerns over the threat to the environment, with Beijing emerging as the biggest critic. The treated water will be diluted to well below internationally approved levels of tritium before being released into the Pacific.

Persons: Rafael Grossi, Nozaki, Grossi, Yoshimasa Hayashi, Fumio Kishida, Sakura Murakami, Chang, Ran Kim, Gerry Doyle Organizations: Atomic Energy Agency, IAEA, Nikkei, Korean, Yomiuri, Pacific, Thomson Locations: TOKYO, Japan, Beijing, East Asia

☆ Japan's military considers adopting Musk's Starlink satellite service -media
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 25 (Reuters) - Japan's military is testing Elon Musk's Starlink satellite internet service with an eye to adopting the technology next fiscal year, the Yomiuri newspaper reported on Sunday, citing unnamed government sources. The Ministry of Defense already has access to communication satellites in geostationary orbit, but use of Starlink technology, operated by Musk's SpaceX, would add a constellation of satellites in low Earth orbit, the Yomiuri said. Japan's Self-Defense Forces have been testing Starlink since March with the system deployed in about 10 locations and in training, the newspaper said. Starlink technology is being deployed by Ukraine on the battlefield, and Russia is attempting to block its use in the region. The U.S. Defense Department said this month it had contracted to provide Starlink services there.

Persons: spokespeople, Musk, Sam Nussey, William Mallard Organizations: Elon, Yomiuri, Ministry of Defense, Musk's SpaceX, Defense Forces, Defence, SpaceX, The U.S . Defense Department, Thomson Locations: TOKYO, Ukraine, Russia, The

☆ Asia markets headed for mixed open ahead of Bank of Japan rate decision
▼ + stars: | 2023-06-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ), far right, speaks during an event at the central bank's headquarters in Tokyo, Japan, on Wednesday, May 31, 2023. Ueda said central banks need to be more careful about how they communicate with increase in their toolkits and advancements in monetary policy making. Photographer: Noriaki Sasaki/The Yomiuri Shimbun/Bloomberg via Getty ImagesAsia-Pacific markets are set for a mixed open Friday after the S&P 500 and Nasdaq Composite posted a sixth-straight day of gains and investors in the region look to the Bank of Japan's rate decision. In Australia, futures for the S&P/ASX 200 were at 7,167, slightly lower than the index's last close of 7,175. Hong Kong's Hang Seng index is set to extend its rally after gaining over 2% on Thursday, with futures at 19,951 compared with the HSI's close of 19,828.92.

Persons: Kazuo Ueda, Ueda, Noriaki Sasaki Organizations: Bank of Japan, Yomiuri Shimbun, Bloomberg, Getty Images, Nasdaq, Bank of, Bank of America, Nikkei Locations: Tokyo, Japan, Getty Images Asia, Pacific, Chicago, Osaka, Australia

☆ Mitsubishi Motors to extend suspension of production in China -Yomiuri
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: 1 min

TOKYO, May 30 (Reuters) - Mitsubishi Motors Corp (7211.T) will extend the suspension of its production in China beyond May, the Yomiuri Shimbun daily reported on Tuesday. Reporting by Elaine Lies; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's prime minister to meet with top chip firms
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Meeting could happen as soon as ThursdayWould include TSMC, Samsung, Intel, MicronTOKYO, May 17 (Reuters) - Japan's Prime Minister Fumio Kishida plans to meet with top executives from global semiconductor companies as early as on Thursday to strengthen multilateral cooperation, Chief Cabinet Secretary Hirokazu Matsuno said. Japan is striving to reinvigorate its chip sector, whose global market share has fallen to about 10% from around 50% in the late 1980s. TSMC, the world's largest contract chip manufacturer, is building a major factory in western Japan. Samsung is considering setting up a chip packaging test line in the country, five people familiar with the matter said in March. Also, Intel is looking into opening up a research and development facility in Japan, the Yomiuri Shimbun daily reported on Wednesday.

☆ Japan PM Kishida to meet executives from top chip firms -sources
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 17 (Reuters) - Japan's Prime Minister Fumio Kishida plans to meet on Thursday with top executives from global semiconductor companies including TSMC to seek active investment in Japan, said two people involved in planning the meeting. Kishida will also ask those companies to develop closer cooperation with Japanese firms, the people said following a Yomiuri newspaper report on the meeting. Japan is striving to breathe vigour into its chip sector, whose global market share has tumbled to about 10% from around 50% in the late 1980s. TSMC, the world's largest contract chip manufacturer, is building a major factory in western Japan. Samsung is considering setting up a chip packaging test line in the country, five people familiar with the matter said in March.

☆ G7 plans new vaccine effort for developing nations, Yomiuri reports
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +2 min

TOKYO, May 13 (Reuters) - The Group of Seven (G7) rich nations is set to agree on establishing a new programme to distribute vaccines to developing countries at next week's summit of leaders, Japan's Yomiuri newspaper said on Saturday. In addition to the G7, G20 nations such as India and international groups such as the World Health Organization (WHO) and the World Bank will participate, it added, citing Japanese government sources. However, COVAX faced setbacks in ensuring equitable access, as wealthy nations prioritised shots for their citizens while insufficient storage facilities in poorer nations caused supply delays and disposal of millions of close-to-expiry doses. The new program aims to pool rainy-day funds for vaccine production and purchases, as well as investment in low-temperature storages and training of health workers to prepare for the next global pandemic, the Yomiuri said. Saturday's meeting of G7 finance ministers agreed to offer aid to low- and middle-income countries to help increase their role in supply chains for energy-related products.

☆ Microsoft agrees to buy electricity generated from Sam Altman-backed fusion company Helion in 2028
▼ + stars: | 2023-05-10 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

Photo courtesy HelionMicrosoft said Wednesday it has signed a power purchase agreement with nuclear fusion startup Helion Energy to buy electricity from it in 2028. "This is the first time that I know of that a company has a power purchase agreement signed," Holland told CNBC. The potential of fusion is "unbelievably huge," Altman told CNBC. As of Tuesday, this is still his largest investment ever, Altman told CNBC. Carbon-free energy includes hydro, nuclear and renewables for Microsoft, a Microsoft spokesperson told CNBC.

☆ Looking to the Future, Japan Would Say Goodbye to Its Baseball Past
▼ + stars: | 2023-04-30 | by ( Joshua Mellin | ) www.nytimes.com time to read: +1 min

In the redevelopment plan, Meiji Jingu and a neighboring venue, the Chichibunomiya Rugby Stadium, which opened in 1947 and was used as a soccer venue during the 1964 Summer Olympics, would be demolished in phases. The entire project, which includes skyscrapers and a hotel, is scheduled to be completed by 2036. At that point it will have been just over 100 years since a lineup of M.L.B. stars played five games at Meiji Jingu during a tour of Japan in 1934. Ruth put on a show by hitting 13 home runs, five of them in Meiji Jingu.

☆ EUROPE US recession worries weigh in Asia
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Kevin BucklandEurope wakes up to more weakness in equities after stock markets across Asia took cues from Wednesday's slump on Wall Street. But perhaps reassuringly, financials fared relatively better in markets including Hong Kong and Tokyo, suggesting little fear of widening contagion from First Republic's woes. Technology shares in the region didn't benefit much from Microsoft's earnings boost though, which had buoyed the Nasdaq. Meanwhile, the United States continued to cozy up to long-time regional allies South Korea and Japan. Away from geopolitics, the Bank of Japan began its first policy meeting with new governor Kazuo Ueda at the helm.

☆ Trump's camp is trying to force Ron DeSantis to resign and formally declare a 2024 run, accusing the governor of 'taxpayer-funded globetrotting'
▼ + stars: | 2023-04-11 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Ron DeSantis of running an unofficial 2024 campaign. In an email, the Trump campaign said DeSantis is engaging in "taxpayer-funded globetrotting." Ron DeSantis, accusing him of "taxpayer-funded globetrotting." An email from the Trump campaign on Monday accused DeSantis of not formally declaring a 2024 run, and using his salary as governor to fund unofficial campaign travels. The Trump campaign also said DeSantis is trying to go on international trips to "score some last-minute foreign policy credentials for his 2024 presidential campaign," further accusing the governor of "taxpayer-funded globetrotting."

☆ Japan is running out of space to bury chickens killed over bird flu
▼ + stars: | 2023-04-06 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Japan has lost so many chickens to bird flu, it’s now running out of land to bury them. All 26 had reported experiencing avian flu outbreaks recently. Japan previously slaughtered nearly 9.9 million in fiscal 2020 over another bird flu crisis, its last record high. In Japan, egg prices reached a 10-year high of 235 yen ($1.8) last month, according to Rabobank. Japan's Ground Self-Defense Force personnel head to a chicken ranch to roll out preventive measures against avian flu in the city of Chitose, Hokkaido on March 28.

☆ Japan changes aid rules; to fund defence projects of friendly nations
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, April 5 (Reuters) - Japan on Wednesday said it plans to offer friendly nations financial assistance to help them bolster their defences, marking Tokyo's first unambiguous departure from rules that forbid using international aid for military purposes. Japan's Overseas Security Assistance (OSA) will be operated separately from the Overseas Development Assistance (ODA) programme that for decades has funded roads, dams and other civilian infrastructure projects, Chief Cabinet Secretary Hirokazu Matsuno said at a regular news conference. The Philippines and Bangladesh are likely to be included as the first recipients of the aid, a government source involved in talks said to Reuters. In principle, only developing countries will be eligible to receive the aid given it will be provided as grants, according to the foreign ministry. Reporting by Tim Kelly, Yukiko Toyoda, Sakura Murakami, and Chang-Ran Kim; Editing by Tom Hogue, Christian Schmollinger and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ US sports giant Fanatics acquires top Italian football club merchandiser
▼ + stars: | 2023-04-05 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

Fanatics has acquired Italian sports merchandise company Epi for an undisclosed amount and will rebrand the Milan-based company as Fanatics Italy. The company operates the ecommerce, in-venue, physical retail store and third-party logistics for several of the top football clubs in Italy including AC Milan, Inter Milan and Juventus, as well as the Italian Football Federation, which oversees the Italian national team. The deal builds upon Fanatics' existing presence in Europe and across the globe, which totals more than 60 offices, and manufacturing and distribution facilities. Roughly a "low double-digit" percentage of Fanatics' revenue comes from outside North America, Mack said, declining to comment further as Fanatics is a private company. Revenue for Fanatics will be approximately $8 billion in 2023, according to previous company estimates seen by CNBC.

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