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...Kogyo — also rose significantly on speculation that it could become a target of industrial consolidation....
...debate has been limited....
...In any case, we believe the impact on FX is limited. Banks tend to fund in local currencies such as USD and EUR when investing in foreign bonds....
...company....
...Related links: The derivatives hour for the Japanese yen – FT Alphaville Jefferies: limited risk of TSY sell-off by insurance companies – FT Alphaville Earthquake – from Japan to the States, and back again...
...Separately, Yoshimoto Kogyo, a producer of television and radio programmes, rallied 8.6 per cent to Y1,040 after a local report said that the company’s management was also planning an MBO....
...However, the effect of these measures has appeared limited and many analysts are bracing for a rise in bankruptcies. “The pace is really abnormal....
...One of its most eyebrow-raising investments was Kokusai Kogyo, a bus and taxi company, which also owns hotels such as the Royal Hawaiian on Waikiki Beach, widely known as the “Pink Palace”....
...Real estate companies also had a tough day, after Creed, a real estate manager and investor, and Toshin Housing late on Friday filed for bankruptcy protection....
...More than 300 listed companies in Japan are majority-owned by a parent company, usually to the latter’s advantage....
...Shares in Kyowa Hakko Kogyo, a drug maker, soared 16.7 per cent to Y1,402 after the Nikkei reported that Kirin, the beer maker, would take a majority stake in the company....
...Kokusai Kogyo, a privately-held company that is the Imperial Hotel?s single-biggest shareholder, on Wednesday denied that it had entered into negotiations with Privee Zurich....
...Shares of Aplus, the consumer finance unit of UFJ, soared 11.3 per cent to Y273, after a the Nikkan Kogyo newspaper reported that UFJ was in the final stages of negotiations to sell the unit to Shinsei...
...There was little impact on the market from the weekend's legislative election, which saw pro-democracy candidates make only limited gains. Esprit shares rose 5.4 per cent to HK$39.40....
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