Latest news with #NaokiFujiwara
Business Times
3 days ago
- Business
- Business Times
NTT Docomo to buy SBI's online bank for 420 billion yen in cut-throat market
[TOKYO] NTT Docomo is buying SBI Holdings' online bank in a 420 billion yen (S$3.7 billion) deal to shore up the Japanese mobile carrier's financial offerings in a hyper-competitive market. Nippon Telegraph and Telephone's mobile unit will launch a tender offer for SBI Sumishin Net Bank, offering 4,900 yen a share – a 49 per cent premium to the online bank's closing price on May 28. At the conclusion of the deal, NTT Docomo aims to own 65.81 per cent of the online bank, which will delist. Sumitomo Mitsui Banking Corp will continue to hold 34.19 per cent of SBI Sumishin, the companies said in a statement on Thursday (May 29). Shares of SBI Sumishin surged by a record 21.3 per cent after local outlets including the Nikkei reported the news earlier. NTT Docomo's stock price rose 0.6 per cent, while SBI Holdings gained 7.8 per cent. The move is part of a capital alliance between the state-backed telecom group and SBI Holdings, where NTT Docomo will invest 110 billion yen in the venture capital fund operator for a 8.25 per cent stake. NTT Docomo and SBI Holdings will co-develop new services from asset management to insurance, while NTT Data Group will provide support for SBI Holdings' financial services, executives said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up NTT Docomo, which has close to half of Japan's mobile phone market, has been slow to bolster its financial asset offerings and services compared with its rivals. That is as nimbler competitors have gradually eaten into its dominant share. Japan's third-largest carrier SoftBank made the country's biggest payments app PayPay a subsidiary in 2022, and recently announced a three-way partnership with Sumitomo Mitsui Banking's credit card operations. No 2 mobile provider KDDI has its own financial unit. Online shopping mall operator Rakuten Group has started a mobile unit, seeking to expand the reach of its lucrative financial arms via the telecom business. The acquisition targets existing NTT Docomo customers rather than attract new ones, and is a defensive move to prevent cancellations, said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. If the carrier can expand into areas like investment trusts, it may create additional revenue, he added. BLOOMBERG
Business Times
3 days ago
- Business
- Business Times
NTT Docomo to buy SBI's net bank for 420 billion yen in cut-throat market
[TOKYO] NTT Docomo is buying SBI Holdings' online bank in a 420 billion yen (S$3.7 billion) deal to shore up the Japanese mobile carrier's financial offerings in a hyper-competitive market. Nippon Telegraph and Telephone's mobile unit will launch a tender offer for SBI Sumishin Net Bank, offering 4,900 yen a share – a 49 per cent premium to the online bank's closing price on May 28. At the conclusion of the deal, NTT Docomo aims to own 65.81 per cent of the online bank, which will delist. Sumitomo Mitsui Banking Corp will continue to hold 34.19 per cent of SBI Sumishin, the companies said in a statement on Thursday (May 29). Shares of SBI Sumishin surged by a record 21.3 per cent after local outlets including the Nikkei reported the news earlier. NTT Docomo's stock price rose 0.6 per cent, while SBI Holdings gained 7.8 per cent. The move is part of a capital alliance between the state-backed telecom group and SBI Holdings, where NTT Docomo will invest 110 billion yen in the venture capital fund operator for a 8.25 per cent stake. NTT Docomo and SBI Holdings will co-develop new services from asset management to insurance, while NTT Data Group will provide support for SBI Holdings' financial services, executives said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up NTT Docomo, which has close to half of Japan's mobile phone market, has been slow to bolster its financial asset offerings and services compared with its rivals. That is as nimbler competitors have gradually eaten into its dominant share. Japan's third-largest carrier SoftBank made the country's biggest payments app PayPay a subsidiary in 2022, and recently announced a three-way partnership with Sumitomo Mitsui Banking's credit card operations. No 2 mobile provider KDDI has its own financial unit. Online shopping mall operator Rakuten Group has started a mobile unit, seeking to expand the reach of its lucrative financial arms via the telecom business. The acquisition targets existing NTT Docomo customers rather than attract new ones, and is a defensive move to prevent cancellations, said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. If the carrier can expand into areas like investment trusts, it may create additional revenue, he added. BLOOMBERG
Business Times
3 days ago
- Business
- Business Times
NTT Docomo to buy SBI's net bank for 420 billion yen in cutthroat market
[TOKYO] NTT Docomo is buying SBI Holdings' online bank in a 420 billion yen (S$3.7 billion) deal to shore up the Japanese mobile carrier's financial offerings in a hyper-competitive market. Nippon Telegraph & Telephone's mobile unit will launch a tender offer for SBI Sumishin Net Bank, offering 4,900 yen per share – a 49 per cent premium to the online bank's closing price on May 28. At the conclusion of the deal, Docomo aims to own 65.81 per cent of the online bank, which will delist. Sumitomo Mitsui Banking will continue to hold 34.19 per cent of SBI Sumishin, the companies said in a statement on Thursday (May 29). Shares of SBI Sumishin Net Bank surged by a record 21.3 per cent after local outlets including the Nikkei reported the news earlier. NTT's stock price rose 0.6 per cent while SBI Holdings gained 7.8 per cent. The move is part of a capital alliance between the state-backed telecom group and SBI Holdings, where NTT will invest 110 billion yen in the venture capital fund operator for a 8.25 per cent stake. NTT and SBI Holdings will co-develop new services from asset management to insurance, while NTT Data Group will provide support for SBI Holdings' financial services, executives said. Docomo, which has close to half of Japan's mobile phone market, has been slow to bolster its financial asset offerings and services compared with its rivals. That's as nimbler competitors have gradually eaten into its dominant share. Japan's third-largest carrier SoftBank made the country's biggest payments app PayPay a subsidiary in 2022 and recently announced a three-way partnership with Sumitomo Mitsui Banking's credit card operations. No 2 mobile provider KDDI has its own financial unit. Online shopping mall operator Rakuten Group has started a mobile unit, seeking to expand the reach of its lucrative financial arms via the telecom business. The acquisition targets existing Docomo customers rather than attract new ones and is a defensive move to prevent cancellations, said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. If the carrier can expand into areas like investment trusts, it may create additional revenue, he added. BLOOMBERG
Business Recorder
5 days ago
- Business
- Business Recorder
Nikkei slips as stronger yen weighs, market lacks clear direction
TOKYO: Japan's Nikkei share average dropped on Tuesday, pressured by a stronger yen that dampened sentiment, while most investors refrained from active trading amid a lack of clear market-moving catalysts. The Nikkei was down 0.24% at 37,440.32 by the midday break. The broader Topix held its ground at 2,752.87. 'With the US markets closed on Monday, institutional investors stayed cautious and quiet. And it looked like only individual investors were trading small stocks,' said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. 'But the market reacted to the yen's gain against the dollar during the session,' said Fujiwara. The yen strengthened against the dollar following comments from Bank of Japan Governor Kazuo Ueda, which signalled the central bank's willingness to raise interest rates. Governor Ueda said that the BOJ must remain vigilant to the risk that rising food prices could drive underlying inflation higher, noting that it is already close to the central bank's 2% target. A stronger yen generally pressures exporter shares, as it diminishes the value of overseas earnings when converted back into Japanese currency. Among individual stocks, chip-making equipment maker Tokyo Electron fell 1.69% to drag the Nikkei the most. Uniqlo-brand owner Fast Retailing lost 0.78% and toy maker Konami Group slipped 1%. Japan's Nikkei rises for a second day as trade fears ease, Nippon Steel jumps Shares of staffing agency Recruit Holdings rose 1.37%, while game maker Nintendo also advanced, gaining 0.84%. Drugstore operator Tsuruha Holdings climbed 1.51% after shareholders approved its merger with Welcia Holdings , despite opposition from U.K.-based fund Orbis Investment. On the Tokyo Stock Exchange's prime market, 58% of the over 1,600 listed stocks advanced, 36% declined, and 5% remained unchanged.
Yomiuri Shimbun
6 days ago
- Business
- Yomiuri Shimbun
Nikkei Slips as Stronger Yen Weighs, Market Lacks Clear Direction
Yomiuri Shimbun file photo The Tokyo Stock Exchange TOKYO, May 27 (Reuters) – Japan's Nikkei share average dropped on Tuesday, pressured by a stronger yen that dampened sentiment, while most investors refrained from active trading amid a lack of clear market-moving catalysts. The Nikkei was down 0.24% at 37,440.32 by the midday break. The broader Topix held its ground at 2,752.87. 'With the U.S. markets closed on Monday, institutional investors stayed cautious and quiet. And it looked like only individual investors were trading small stocks,' said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. 'But the market reacted to the yen's gain against the dollar during the session,' said Fujiwara. The yen strengthened against the dollar following comments from Bank of Japan Governor Kazuo Ueda, which signaled the central bank's willingness to raise interest rates. Governor Ueda said that the BOJ must remain vigilant to the risk that rising food prices could drive underlying inflation higher, noting that it is already close to the central bank's 2% target. A stronger yen generally pressures exporter shares, as it diminishes the value of overseas earnings when converted back into Japanese currency. Among individual stocks, chip-making equipment maker Tokyo Electron fell 1.69% to drag the Nikkei the most. Uniqlo-brand owner Fast Retailing lost 0.78% and toy maker Konami Group slipped 1%. Shares of staffing agency Recruit Holdings rose 1.37%, while game maker Nintendo also advanced, gaining 0.84%. Drugstore operator Tsuruha Holdings climbed 1.51% after shareholders approved its merger with Welcia Holdings, despite opposition from U.K.-based fund Orbis Investment. On the Tokyo Stock Exchange's prime market, 58% of the over 1,600 listed stocks advanced, 36% declined, and 5% remained unchanged.
