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November 21, 2024
 

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ACQUISITIONS

Nippon Steel headquarters in Tokyo
BUSINESS / Companies
Sep 13, 2024
Nippon Steel and U.S. Steel send letter to Biden on merger plans
A spokesperson did not provide details about the letter's content, but said it was signed by the chief executives of both steelmakers.
Alimentation Couche-Tard is discussing raising its takeover bid for Seven & I Holdings, informed sources say.
BUSINESS / Companies
Sep 12, 2024
Couche-Tard weighing higher price for 7-Eleven owner, sources say
Its bid would need to be significantly higher than the initial proposal of $14.86 per share in order to get Seven & I to enter negotiations, they said.
Suntory Holdings CEO Takeshi Niinami speaks during a Reuters Newsmaker event in Tokyo on Wednesday.
BUSINESS / Companies
Sep 12, 2024
Seven & I takeover bid shows a shift in government, Suntory CEO says
The takeover bid has also left many CEOs in Japan nervous that their companies could be next.
Nippon Steel argues that its acquisition of U.S. Steel would be a win-win.
BUSINESS / Companies
Sep 12, 2024
Quiet assurances mooted as U.S. Steel deal shakes global order
Analysts and informed observers have been gaming out the possible outcomes and adding up the potential damage.
Hula dancers perform at Spa Resort Hawaiians in Iwaki, Fukushima Prefecture, in November 2018.
BUSINESS / Companies
Sep 10, 2024
Spa Resort Hawaiians to be acquired by U.S. fund
The acquisition is expected to cost U.S. investment fund Fortress Investment Group up to around ¥14 billion.
Alimentation Couche-Tard said it is willing to engage in confidential discussions with 7-Eleven operator Seven & I Holdings and is keen on still pursuing an acquisition.
BUSINESS / Companies
Sep 9, 2024
Couche-Tard pushes for Seven & I deal talks after rejection
A potential deal would create a global convenience store behemoth with more than 100,000 stores.
Former Defense Minister Shigeru Ishiba attends a news conference in Tokyo on Friday, ahead of the Liberal Democratic Party leadership election.
BUSINESS / Companies
Sep 7, 2024
U.S. opposition to Nippon Steel deal 'very unsettling,' PM hopeful Ishiba says
Some experts say blocking the deal could undermine U.S.-Japan cooperation on national security, and put the lie to the notion of "ally shoring."
A water tower at a U.S. Steel mill in Braddock, Pennsylvania, on Wednesday
BUSINESS / Companies / ANALYSIS
Sep 7, 2024
Nippon Steel's U.S. setback a wake-up for Japan Inc.'s foreign forays
Buyers and sellers of assets were taking more time analyzing political trends and scrutinizing whether a target is in an industry that might trigger intervention.
Nippon Steel has responded to the U.S. government concerns by saying it will invest billions of dollars to maintain and boost U.S. Steel facilities that otherwise would have been idled, "indisputably" allowing it to "maintain and potentially increase domestic steelmaking capacity in the United States."
BUSINESS / Companies
Sep 6, 2024
U.S. fears Nippon Steel's bid for U.S. Steel could hit vital steel supply
The U.S. government is concerned that U.S. Steel would be less likely to seek tariffs on foreign steel importers if it is under the ownership of the Japanese steelmaker.
The U.S. Steel Irvin Plant in Pennsylvania
BUSINESS / Companies
Sep 6, 2024
Union chief assails U.S. Steel CEO and calls deal for company flawed
United Steelworkers President David McCall said he didn’t think the future of U.S. Steel hinged on Nippon Steel buying the company.
Seven & I Holdings, operator of the 7-Eleven convenience store chain, said on Friday it has rejected Alimentation Couche-Tard's takeover bid as not being in the interest of shareholders.
BUSINESS / Companies
Sep 6, 2024
Seven & I pans value of offer as it rejects Canadian takeover bid
Seven & I said that Alimentation Couche-Tard had “grossly” undervalued the target company and that the takeover attempt was timed “opportunistically.”
Alimentation Couche-Tard’s takeover bid for Seven & I already faces a potential funding problem, but the yen's recent rise puts another hurdle.
BUSINESS / Companies
Sep 5, 2024
Strong yen adds to challenge for Couche-Tard’s Seven & I bid
The buyout already faces questions in terms of potential funding and the target’s efforts to seek government protection.
Alimentation Couche-Tard’s bid to acquire Japan’s Seven & I Holdings has sparked discussions about Japan’s approach to foreign investment and whether rejecting or accepting the bid reflects an openness to international business.
COMMENTARY / Japan
Sep 4, 2024
7-Eleven deserves more than shareholder supremacy
While Japan should consider investor interests, it should not forsake the broader social and community benefits that its businesses provide.
U.S. Steel's Edgar Thomson Works steel mill in Braddock, Pennsylvania
BUSINESS / Companies
Sep 4, 2024
U.S. Steel to remain American-led, Nippon Steel says
The Japanese firm said post-acquisition the majority of U.S. Steel's board of directors and all members of core senior management would be U.S. citizens.
Nippon Steel headquarters in Tokyo. Nippon Steel said last month that it would make an additional investment of about $1.3 billion in U.S. Steel following the takeover.
BUSINESS / Companies
Sep 3, 2024
Nippon Steel defends its U.S. Steel bid after Harris' opposition
Nippon Steel released a statement Tuesday arguing that the Japanese firm's planned acquisition of U.S. Steel would benefit the United States.
U.S. Vice President Kamala Harris, the Democratic presidential nominee, speaks during a campaign event she attended with U.S. President Joe Biden at IBEW Local Union 5 in Pittsburgh on Monday.
BUSINESS
Sep 3, 2024
Harris says U.S. Steel should remain American owned and run
It’s not clear whether a decision on the takeover will land on U.S. President Joe Biden’s desk or that of his successor — or even if it will proceed at all.
Seven & I is currently categorized on the Finance Ministry's classification list as a company that conducts "designated," but not "core" businesses.
BUSINESS / Companies
Sep 3, 2024
Japanese companies cannot use national security cover to block takeovers, official says
Japanese companies cannot use a national security designation as a tool to thwart foreign takeovers, a senior Finance Ministry official said.
U.S.-based asset manager Artisan Partners asked Seven & I, operator of 7-Eleven stores, to brief shareholders on the status of takeover negotiations with Alimentation Couche-Tard by Sept. 19.
BUSINESS / Companies
Sep 1, 2024
Seven & I shareholder pushes for negotiations with Couche-Tard
U.S.-based asset manager Artisan Partners asked Seven & I to brief shareholders on the status of takeover negotiations by Sept. 19.
Kirin Holdings President Takeshi Minakata at the company's headquarters in Tokyo on Wednesday
BUSINESS / Companies
Aug 29, 2024
Kirin clinched Fancl takeover to propel health pivot, president says
Fancl fits into a health science portfolio that Kirin aims to grow into a new pillar of the group.
A train carrying steel slabs leaves the U.S. Steel Edgar Thomson Works steel mill in Braddock, Pennsylvania.
BUSINESS / Companies
Aug 29, 2024
Nippon Steel woos U.S. union with extra $1.3 billion investment
The United Steelworkers union has so far opposed a corporate tie-up with U.S. Steel.
Ishiba delays meeting with Trump, citing legal restrictions
Prime Minister Shigeru Ishiba waves upon arrival for the Asia-Pacific Economic Cooperation forum, in Callao, Peru, on Friday.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Rising sex tourism exposes loopholes in Japan's anti-prostitution law
While financial misfortunes during the COVID-19 pandemic may have driven some women to work the streets, others simply want more money to spend — or want to pay off their debts — at host clubs.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
Ruling coalition and DPP strike last-minute deal over economic policy
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
Japanese expats in Asia find community through rugby
The Taiwan Fivewoods celebrate their victory at the 2023 Asian Japanese Rugby Cup in December of last year.
In Fukushima, a weekend of prose, poetry and translation
Aomori-based writer JJ Carter presented on tabletop gaming as creative inspiration for building characters and narratives.
For Dr. Nakamats, aging is just experience in action
Though he didn't win the recent gubernatorial election in Tokyo, the 96-year-old Dr. Nakamats' run was seen as inspirational in Japan's aging society.

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