Latest news with #YoshitakaKitao
Nikkei Asia
25-06-2025
- Business
- Nikkei Asia
Japan's SBI Shinsei aims to relist after July repayment of bank bailout
Finance Move will mark end to rescue that took place quarter century ago Parent company SBI Holdings, led by CEO Yoshitaka Kitao, is spearheading SBI Shinsei Bank's repayment plan. (Source photos by Nikkei) Nikkei staff writers TOKYO -- Japan's SBI Shinsei Bank will complete its repayment of roughly 230 billion yen ($1.6 billion) in bailout money on July 31, the company said on Wednesday, as it aims to relist on the Tokyo Stock Exchange this year. The money will be repaid by the Japanese bank's parent group, SBI Holdings, which will buy preferred shares held by the Deposit Insurance Corporation of Japan and another government-backed body.
13-06-2025
- Business
U.S. Proxy Firm Backs SBI's Kitao as Fuji Media Director
News from Japan Jun 13, 2025 15:29 (JST) Tokyo, June 13 (Jiji Press)--U.S. proxy adviser Glass, Lewis & Co. recommended Friday that Fuji Media Holdings Inc. shareholders vote for five of the board candidates proposed by shareholder Dalton Investments, including SBI Holdings Inc. Chairman and President Yoshitaka Kitao. Glass Lewis said that the five can provide expertise and enhance diversity of views in the board of Fuji Media, which will hold a regular meeting of shareholders June 25. The advisory company backed nine of Fuji Media's board candidates including Kenji Shimizu, president of core unit Fuji Television Network Inc. But it advised voting against the remaining two candidates including Takashi Sawada, former president of convenience store chain FamilyMart Co., whom it opposes on the ground that he sits on the boards of other companies. Another U.S. proxy firm Institutional Shareholder Services Inc. said Tuesday that it supports Fuji Media's full slate of 11 board candidates and opposes Dalton's 12 candidates. It said that opposing the appointment of Shimizu would cause confusion in management. [Copyright The Jiji Press, Ltd.] Jiji Press
CNA
13-06-2025
- Business
- CNA
Exclusive-SBI Shinsei Bank preparing to relist by year-end, sources say
TOKYO :SBI Shinsei Bank, a unit of SBI Holdings, plans to file as early as next month for a relisting on the Tokyo Stock Exchange, two people familiar with the matter said. The bank, which aims to go public again by the end of the year, would follow a series of sizeable listings in Japan over the past year as companies look to capitalise on market momentum that has seen the Nikkei share average trade near record highs. Relisting the mid-sized lender has been a target for Yoshitaka Kitao, the CEO of SBI, a financial conglomerate whose businesses span banking, asset management, technology and cryptocurrency. SBI took SBI Shinsei private in 2023 after making it a subsidiary two years earlier. 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. The people did not wish to be identified as the information is not public. SBI Shinsei Bank did not respond to a request for comment. SBI Shinsei is aiming for a valuation of around 1.5 trillion yen ($10.46 billion), one of the people said, around double the current value of JX Advanced Metals, which listed in March. The final figure will depend on market conditions, and the offering size is yet to be finalised, the person added. SBI group companies are expected to offload some of their stake in SBI Shinsei Bank in the float, one of the people said. SBI Holdings' shares jumped by more than 3 per cent on Friday to 4,473 yen following news of the listing plan. In comparison, the Nikkei was down 1.25 per cent. The bank tapped Nomura Securities and Goldman Sachs this month as joint global coordinators for the listing, and several other underwriters have been selected to join the group, the sources said. Nomura and Goldman Sachs declined to comment. SBI Shinsei's predecessor bank went bankrupt during the 1990s banking crisis and was later sold to private equity investors, including JC Flowers & Co and Ripplewood. It went public in 2004, generating huge gains and making it the first Japanese lender to be owned by foreign investors. Yet the bank was never able to repay the billions it still owes Japanese taxpayers after its bail-out, something that has long rankled in Japan. Last month, SBI Holdings raised approximately 290 billion yen by issuing new shares to NTT and selling its stake in SBI Sumishin Net Bank to NTT Docomo. The proceeds of that are intended to repay the roughly 230 billion yen in public funds injected into Shinsei Bank. The repayment of the public funds is expected to be completed before the relisting, one of the people said. ($1 = 143.4700 yen)
17-05-2025
- Business
Dalton Slams Fuji Media for Opposing Board Nominees
News from Japan Economy May 17, 2025 15:51 (JST) Tokyo, May 17 (Jiji Press)--Dalton Investments, a major shareholder of Fuji Media Holdings Inc., on Saturday criticized the Japanese media group for opposing its nominees to Fuji Media's board. Fuji Media "has opposed all our nominees without any form of dialogue," the U.S. firm said in a statement. "It does not appear that our candidates were even given serious consideration." The statement was released a day after Fuji Media announced its opposition to all of Dalton's 12 nominees, including Yoshitaka Kitao, chairman and president of online financial group SBI Holdings Inc., while adding four new people to its own list of board member candidates. "We had no discussions with the company regarding our proposed candidates," Dalton complained. Regarding the process for selecting possible directors, the firm voiced "serious doubts whether the outgoing directors have acted as honest fiduciaries in the best interest of shareholders." [Copyright The Jiji Press, Ltd.] Jiji Press
16-05-2025
- Business
Japan's Fuji Media Adds 4 Director Candidates
News from Japan Economy May 16, 2025 23:29 (JST) Tokyo, May 16 (Jiji Press)--Japan's Fuji Media Holdings Inc. said Friday that it has decided to add four individuals to its list of director candidates, including Takashi Sawada, former president of convenience store chain FamilyMart Co. The parent of scandal-tainted Fuji Television Network Inc. also announced its opposition to a list of 12 outside director candidates proposed by U.S. fund Dalton Investments, a major Fuji Media shareholder. The 12 include SBI Holdings Inc. Chairman and President Yoshitaka Kitao. Fuji Media's remaining new director candidates are a company executive, a professor and a lawyer. "We've judged that this board composition is optimal" in terms of strengthening the corporate governance and legal compliance systems, Fuji Media Executive Vice President Kenji Shimizu, expected to become the next president of the company, told a press conference Friday. Fuji Media's board assessed Dalton's proposal and found that there are overlaps between the candidates' knowledge and achievements and those of Fuji Media's candidates, Shimizu said, explaining the reason for the opposition. [Copyright The Jiji Press, Ltd.] Jiji Press
