Fujitec shareholders rejected a raft of proposals from ousted chairman Takakazu Uchiyama to overhaul the board during Wednesday's annual shareholders meeting, a Fujitec spokesperson said.
Debate between Seven & I and activist fund ValueAct Capital Management is likely to continue through May 25, when Seven & I is scheduled to hold its annual general meeting.
Japan’s 40-year high inflation and signs of distortions in the bond market mean it’s a good time to start normalizing policy, Daiwa Securities Group CEO Seiji Nakata said.
Japan’s biggest brokerage is seeking new revenue streams as rising global interest rates and market volatility slow key pillars of its business, from brokerage fees to stock underwriting.
The U.S. firm is on a buying spree, sealing a multi-billion dollar deal last month to acquire Hitachi's metals unit, while it is involved in a bidding war for Toshiba.
Discussions are in their final stage and an announcement could come as soon as Thursday, sources have said.
The firm signaled personnel changes are in the works, and wasn’t optimistic that business will bounce back quickly.
Private equity firm Japan Industrial Partners is looking to acquire the firm in partnership with multiple domestic companies including Orix and Chubu Electric Power, sources said.
About 8 in 10 Japanese have never invested in securities, according to a lobby group for the nation’s brokers.
The largest power utility in Japan is looking to secure Toshiba’s nuclear business, sources said.
