Japan Prosecutors to Seek Penalties for Ex-SMBC Nikko Executives
Former head of equity Trevor Hill, his ex-deputy Alexandre Avakiants and three others are expected to hear the prosecution's requests in the Tokyo District Court on Thursday, roughly three years after they were indicted.
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CNBC
3 minutes ago
- CNBC
Trump's '100% chip tariffs' hit Japan's giants, but Samsung and TSMC rise on U.S. bets
Asia semiconductor-related stocks traded mixed Thursday after U.S. President Donald Trump announced he would impose a 100% tariff on chip imports, with an exemption for companies that are "building in the United States." Details on how much domestic manufacturing is required to qualify for the exemption remain unclear. Japanese semiconductor manufacturer Tokyo Electron fell over 5% before paring losses to trade 2.9% lower as of 11.20 a.m. Japan time (10.20 p.m. ET Wednesday), data from LSEG showed. Other Japanese chip stocks mirrored the fall. Renesas Electronics declined 4% at the open while Advantest slid 3.3%. However, South Korean chip majors Samsung and SK Hynix appeared to be exempted from the 100% tariffs, the country's top trade envoy Yeo Han-koo was reported as saying on the radio. Memory chipmaker SK Hynix rebounded after falling by more than 3% in initial trade. Shares of Samsung Electronics bucked the trend, climbing 2.47%. Apple announced Wednesday that it will use chips produced by Samsung Electronics at the latter's Texas facility for its devices, including iPhones. Taiwan Semiconductor Manufacturing Company — the world's biggest chip supplier — also started the trading session in the green, rising by over 4%. TSMC has announced significant investments in the U.S recently, including an initial $65 billion to build three plants in Arizona, and an additional $100 billion U.S. investment in March. "We're going to be putting a very large tariff on chips and semiconductors," Trump said in the Oval Office on Wednesday, adding that companies like Apple that are building or committed to building in the U.S. won't be charged. "So in other words, we'll be putting a tariff of approximately 100% on chips and semiconductors. But if you're building in the United States of America, there's no charge." Ernie Tedeschi, director of economics at the Budget Lab at Yale, noted that "the devil is in the details" as there is no clear framework yet on how exactly the chip tariffs are going to work. While Japanese semiconductor process equipment markets may wobble at the start given the headline shock of "100% tariffs," the move could be positive for the industry given the number of Japanese chipmaking equipment that are indispensable for most chipmakers looking to ramp up U.S. production, said Andrew Jackson, head of Japanese equity strategy at ORTUS Advisors.
Bloomberg
an hour ago
- Bloomberg
Confusion Over Tariff Stacking Hampers Japan's Bid to Pin Down US Trade Deal
A fresh discrepancy in interpretations of the US-Japan trade deal came to the fore on Thursday, as Japan's chief negotiator visits Washington to press for follow-through on a pledge to cut a levy on car imports to 15%. Japanese media reports said Washington would not exempt Tokyo from an order stacking new 15% across-the board tariffs on top of existing levies, hours before they come into effect. Japan's top trade negotiator Ryosei Akazawa said Tuesday that levies would not be stacked on top.
Yahoo
8 hours ago
- Yahoo
Bakkt Expands Global Bitcoin Play With 30% Stake in Japan's Marusho Hotta
Amid a sea of new crypto treasury companies popping up, Bakkt and BitBridge are in the news today, after they both provided updates on their bitcoin treasury strategies. Bakkt (BKKT), the technology firm that went all-in on crypto, has signed a deal to acquire nearly one-third of Japanese trading company Marusho Hotta (8105), in a move that could signal a broader international bitcoin (BTC) strategy for the U.S.-based digital asset platform, the company said in a press release Wednesday. Under the agreement with RIZAP Group Inc., Bakkt will acquire roughly 30% of the Tokyo-listed company, positioning itself as Marusho Hotta's largest shareholder. Pending shareholder approval, Marusho Hotta will be renamed aligning its brand with its new bitcoin-centric direction, the company said. Bakkt has also secured the domain as part of the deal. In a strategic leadership shift, Phillip Lord, President of Bakkt International, will take over as CEO of Marusho Hotta. Meanwhile, bitcoin treasury firm BitBridge Capital Strategies has completed its merger with Green Mountain Merger Inc., the company said in a press release yesterday. The company will start trading under the ticker symbol BTTL on the over-the-counter (OTC) markets by the end of the third quarter, with plans to uplist to NASDAQ thereafter.
