Latest news with #MihoUranaka
Yahoo
3 hours ago
- Business
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Exclusive-SBI Shinsei plans to file in July for a year-end relisting, sources say
By Miho Uranaka TOKYO (Reuters) -SBI Shinsei Bank, a unit of SBI Holdings, is planning on filing as early as next month to relist on the Tokyo Stock Exchange, two people familiar with the matter said. SBI Shinsei, which is aiming to list by the end of the year, would follow a series of sizeable flotations in Japan over the past year as companies look to capitalise on market momentum that has seen the Nikkei share price average trade near record highs. The bank is aiming for a valuation of around 1.5 trillion yen ($10.46 billion), one of the people said, almost double that of JX Advanced Metals, which listed in March. The people declined to be identified as the information is not public. SBI Holdings said it has maintained for some time it is considering listing SBI Shinsei Bank and that the July filing and year-end listing are not something it is aware of. ($1 = 143.4700 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
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Exclusive-SBI Shinsei plans to file in July for a year-end relisting, sources say
By Miho Uranaka TOKYO (Reuters) -SBI Shinsei Bank, a unit of SBI Holdings, is planning on filing as early as next month to relist on the Tokyo Stock Exchange, two people familiar with the matter said. SBI Shinsei, which is aiming to list by the end of the year, would follow a series of sizeable flotations in Japan over the past year as companies look to capitalise on market momentum that has seen the Nikkei share price average trade near record highs. The bank is aiming for a valuation of around 1.5 trillion yen ($10.46 billion), one of the people said, almost double that of JX Advanced Metals, which listed in March. The people declined to be identified as the information is not public. SBI Holdings said it has maintained for some time it is considering listing SBI Shinsei Bank and that the July filing and year-end listing are not something it is aware of. ($1 = 143.4700 yen)
Yahoo
04-04-2025
- Business
- Yahoo
Exclusive-Morgan Stanley raising about $680 million for Japan real estate fund, sources say
By Miho Uranaka and Anton Bridge TOKYO (Reuters) -Morgan Stanley is raising about 100 billion yen ($684 million) for a Japan-focused real estate fund, two people familiar with the matter said, highlighting investor interest in property as the world's fourth-largest economy emerges from years of deflation and standstill prices. The Morgan Stanley-managed fund is due to close in June and expected to raise at least 100 billion yen based on current investor commitments, according to the people, both of whom declined to be identified because the information hasn't been made public. The final size of the fund could change by the closing, the people said. Investment will centre on offices and multi-family residential buildings in major cities, as well as logistics and hotels, one of the people said. Morgan Stanley declined to comment. Details of the fund are reported here for the first time. The U.S. firm is the latest global asset manager to set its sights on Japanese real estate, an asset class that has come back into favour after years of stop-start economic growth, flat wages and zero inflation. The investment case has changed sharply over the last year, most notably after the central bank raised interest rates for the first time in 17 years last March. Prices, including of real estate, are now going up: land prices across Japan grew 2.7% in 2024, the fastest pace since 1991, after which the country's "lost decades" began, a land ministry survey showed. "We see great potential in real estate investment in an inflationary environment," said Ikushin Tsuchida, managing director at Brookfield Asset Management. "Market dynamics are changing," he said. At the same time, in a corporate governance push, Japan's listed companies are looking to improve their use of capital and sell off some property holdings.
Yahoo
27-03-2025
- Business
- Yahoo
Hillhouse hires Japan co-heads for real estate investment arm from Blackstone, source says
By Sam Nussey and Miho Uranaka TOKYO (Reuters) -Hillhouse Investment has hired co-heads for its Japan real estate investment business, a person familiar with the matter said, as it bulks up its operations there. Hillhouse has hired Jeremy Bleackley and Wataru Goto as co-heads of Japan for Rava Partners, the person said. The two join from Blackstone where they were managing directors of the Real Estate Group. The source declined to be named as the information is not public. Hillhouse is expanding in Japan, which has become a focus for investors as a drive to improve corporate governance encourages asset sales and take-private transactions. The asset manager is looking to invest $1 billion to $2 billion annually in Japan and roughly double its headcount in there, Reuters reported earlier this month. Hillhouse was founded by China-born dealmaker Zhang Lei in 2005. It is known for its hedge fund and private equity investments and has also moved into real estate and private credit. Hires in Japan by Hillhouse include former Bain Capital partner Tomohiro Kikuta to lead the Japan operations and Wern-Yuen Tan, a former executive at PepsiCo. Hillhouse's investments in Japan include real estate developer Samty Holdings, which was valued at over $3 billion on an enterprise basis, and restaurant software business Dinii. Rava Partners was established in 2020 and has invested more than $3 billion in 18 real estate companies in Asia, a source said. Sign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
Exclusive-Japan Post planning $4 billion sale of shares in Japan Post Bank, sources say
By Miho Uranaka and Takaya Yamaguchi TOKYO (Reuters) - Japan Post Holdings is planning to sell shares in Japan Post Bank which could total some 600 billion yen ($4.02 billion), two sources familiar with the matter said, in the latest loosening of ties between the businesses. The postal giant, whose shareholders include the Japanese government, plans to reduce its stake below 50%, said the two sources and a third person familiar with the plan. That would give Japan Post Bank more freedom to do business as restrictions intended to protect private companies would be relaxed. The sale comes as corporate governance reforms are accelerating in Japan with "parent-child" listings, where companies have a listed subsidiary, being scrutinised and companies under pressure to increase free-float share ratios. The sale could be decided as soon as this week, the sources said. Japan Post Bank is also planning to launch a share buyback, two of the sources said. The sources declined to be named as the information is not public. Shares in Japan Post Bank fell 4% following the Reuters report before trimming losses to close down 1.5%. Japan Post and Japan Post Bank said they are considering various options from a capital policy perspective, but no decisions have been made. Japan Post, Japan Post Bank and Japan Post Insurance listed in 2015 in what was Japan's largest privatisation in about three decades. Japan Post cut its exposure to Japan Post Bank in 2023 and currently owns 61.5%. The postal giant has already reduced its shareholding in Japan Post Insurance to 49.8%. Japan Post Bank's net profit for the nine months to December climbed 17% to 308 billion yen as rising interest rates boosted profits. ($1 = 149.4300 yen)
