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...SMBC Nikko Securities estimated that Fujitsu’s UK sales were at most ¥200bn ($1.4bn), compared with the group’s annual revenue of ¥3.7tn for the 2022-23 fiscal year....
...The changes bring Japanese companies into line with standard practice in the US and Europe, requiring them to seek out the highest price possible....
...The relationships between the SMBC banking parent and hundreds of Japanese companies ensured it had a larger supply of sellers than its bigger rivals Nomura and Daiwa....
...Rothschild & Co has hired Daiwa Securities’ former co-head of investment banking Yuichi Akai as vice-chair of Japan, based in Tokyo....
...“The Kuroda bazooka is over and now it’s really up to the new governor to change things and start from scratch,” said Mari Iwashita, chief market economist at Daiwa Securities....
...The introduction last year of Hong Kong’s controversial National Security Law, under which 47 activists were arrested earlier this month, had created increasing fear in Japanese boardrooms, said Kitao....
...Securities....
...“Europe had said no to coal [before the Ukraine war] but now Germany is burning it so they’re basically being opportunistic,” said Saito, acknowledging the need for countries to prioritise energy security...
...What else we’re reading SMBC Nikko trading scandal threatens future of its equities division What started as a routine inspection at Japan’s SMBC Nikko has evolved into a sprawling investigation that now...
...The country’s 12.5 per cent corporate tax rate has been one of the lowest in Europe, although Ireland has signed up to the OECD reform to lift it to 15 per cent....
...“It’s become a lesson for markets as well as policymakers that Japan must not become like the UK in terms of the turmoil that it caused,” says Mari Iwashita, chief market economist at Daiwa Securities....
...However, others including Morgan Stanley as well as Japan’s Daiwa Securities argue that the market has overreacted to Moody’s move to review the company....
...Thanks for reading FirstFT Europe/Africa. Here’s the rest of today’s news — Gordon....
...The prospects are not good, according to Europe Express newsletter writer Valentina Pop....
...Securities Q3, H&M FY, Saipem Q3, UniCredit FY, Volvo Q4 World events Finally, here is a rundown of other events and milestones this week....
...The region-wide Stoxx Europe 600, which rose to all-time highs earlier this week, set a fresh record after climbing 0.1 per cent....
...The following year Germany’s Aquila Capital entered into a partnership with the infrastructure arm of Japan’s Daiwa Securities, while in December Singapore asset manager Sun Venture agreed to pay £552m to...
...Europe’s Stoxx 600 benchmark fell 1 per cent in early dealings while the UK’s FTSE 100 and Germany’s Xetra Dax both lost 1.2 per cent, following falls in Asian markets earlier in the session....
...“Investors viewed this change as restricting the RBNZ’s ability to continue with ultra-easy monetary policy,” said Chris Scicluna, an economist at Daiwa....
...“Their model is not to give loans in order to be able to seize security,” he says....
...Some smaller banks have moved on to a wider range of currencies: for example, Daiwa Next Bank, a banking arm of the Daiwa Securities group, is advertising interest of 1 per cent in South African rand, 1.5...
...Investor demand was six times bigger than the original offer size of ¥20bn ($190m), according to lead underwriter Daiwa Securities....
...Carlton Lai, an analyst with Daiwa Capital Markets, believes limiting internet companies’ data collection will hurt their competitiveness....
...“Compared to before, Mr Son may have a freer hand to make bolder moves,” said SMBC Nikko Securities analyst Satoru Kikuchi....
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