Latest news with #KanokoMatsuyama
Bloomberg
10 hours ago
- Business
- Bloomberg
Whisky Maker Suntory Is Trying to Get More Japanese to Try Gin
By and Kanoko Matsuyama Save In Japan, a nation of beer and sake drinkers, the world's third-largest whisky maker is trying to get the locals interested in gin. Suntory Holdings Ltd. has launched new cocktails and a pop-up bar at the Grand Prince Hotel Takanawa in an attempt to push its Roku gin brand, which up until now has gotten 90% of its sales overseas, primarily in Europe, North America and Singapore.
Bloomberg
14-05-2025
- Business
- Bloomberg
Listed Subsidiaries Get the Ax in Japan After Investor Pressure
By and Kanoko Matsuyama Save Japanese conglomerates are scaling back their hundreds of listed subsidiaries, a structure that critics say is often a poor use of capital and raises potential conflicts of interest. The trend stems from mounting pressure on companies to cater to shareholders in response to activist campaigns, demands from the stock exchange and even hostile takeovers. Japan has 212 so-called parent-child listings, which is down from 285 in 2020, but still more than the 178 in Europe and 59 in the US, according to Jefferies Financial Group.
Yahoo
06-03-2025
- Business
- Yahoo
Bain Is Said to Near Deal to Buy Seven & i's Supermarket Assets
(Bloomberg) -- Bain Capital is nearing a deal to buy Seven & i Holdings Co.'s supermarket business, according to people familiar with the matter. How Upzoning in Cambridge Broke the YIMBY Mold Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' Remembering the Landscape Architect Who Embraced the City NYC's Finances Are Sinking With Gauge Falling to 11-Year Low US Tent Facility is Holding Migrant Families Longer Than Recommended The US-based private equity firm and Seven & i are hammering out details of a transaction that could be announced as soon as this week, the people said, asking not to be identified because the deliberations are private. Seven & i is planning to hold a board meeting to vote on the deal on Thursday, the people said. A potential deal may value York Holdings, an umbrella company for supermarkets, restaurants and other assets split from Seven & i's convenience-stores business, at over 700 billion yen ($4.7 billion), one of the people said. Talks are ongoing and could still fall apart, the people said. A representative for Bain declined to comment, while Seven & i didn't immediately respond to a request to comment. The sale heeds calls from investors over the years for the company to hive off the lower-margin supermarkets business and focus on its higher-margin convenience store business. The transaction is also the latest example of increased dealmaking activity in Japan. Seven & i embarked on a broad restructuring of its business after Canada's Alimentation Couche-Tard Inc.'s approach to buy out the company became public in August. Later in October, Seven & i outlined a plan to set up York Holdings. --With assistance from Kanoko Matsuyama, Lisa Du and Koh Yoshida. The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Greenland Voters Weigh Their Election's Most Important Issue: Trump Snack Makers Are Removing Fake Colors From Processed Foods Trump's SALT Tax Promise Hinges on an Obscure Loophole ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Seven & i Consortium Said to Tap BofA, Citi for Financing
(Bloomberg) -- The consortium proposing to take Seven & i Holdings Co. private has tapped Citigroup Inc. and Bank of America Corp. for financing, adding to a growing group of players in the potentially record-breaking management buyout bid, people familiar with the matter said. Citadel to Leave Namesake Chicago Tower as Employees Relocate State Farm Seeks Emergency California Rate Hike After Fires Transportation Memos Favor Places With Higher Birth and Marriage Rates San Francisco Wants Wealthy Donors to Help Fix Fentanyl Crisis NY Transit Advocate Says Billions in Tax Hikes Would Fix MTA The two US banks' role in the bid would be to refinance the debt of Seven & i's US unit, one of the people said. The company had debt of ¥2.7 trillion ($17.8 billion) as of November, 56% of which belongs to the overseas convenience store operations, according to the company's financial results. Banks typically pass on such debt to outside investors. Thai conglomerate CP All Plc — which holds the Thai franchise for 7-Eleven — is also weighing plans to take an equity stake in the management buyout of about ¥500 billion, the people said, joining a plan hatched by Seven & i's founding Ito family and Familymart-operator Itochu Corp. last year. CP All shares extend their declines Thursday, falling as much as 5%. Any CP All participation in the deal would lead to higher interest expenses, hindering the company's profit growth, Asia Plus Securities Pcl said in a note this week. The entities would be some of the final parts of a plan hastily cobbled together to fend off Canadian retailer Alimentation Couche-Tard Inc., whose overtures to Seven & i were made public last August. Representatives for Citigroup, BofA and CP All did not immediately respond to requests for comment. The Ito family and Itochu originally planned a buyout effort valued at ¥9 trillion — trumping the ¥7.5 trillion Couche-Tard takeover bid. This may be lowered as the company's current valuation hovers well below either figure. Seven & i's market capitalization was around ¥6.2 trillion as of Thursday. A successful bid would not just allow one of the country's biggest retailers to restructure in private, but represent a successful group effort from corporate Japan to keep the storied brand out of foreign hands. The management buyout proposal would involve about ¥4 trillion in equity stakes with the Ito family contributing around ¥500 billion and Itochu more than ¥1 trillion. The rest would come from bank financing. Apollo Global Management Inc. is discussing a commitment of as much as ¥1.5 trillion while KKR & Co. is also considering a stake, Bloomberg News reported earlier. Sumitomo Mitsui Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. are set to participate in financing. --With assistance from Kanoko Matsuyama, Taiga Uranaka and Anuchit Nguyen. Orange Juice Makers Are Desperate for a Comeback Believing in Aliens Derailed This Internet Pioneer's Career. Now He's Facing Prison Inside Elon Musk's Attack on the US Government Amazon and SpaceX Want In on India's Satellite Internet Market Elon Musk Inside the Treasury Department Payment System ©2025 Bloomberg L.P. Sign in to access your portfolio
