Deals

Power drain

Tepco likely to buy 2 million kilowatts from outside groups

TOKYO -- Tokyo Electric Power is expected to procure more than two million kilowatts of electricity through bidding that closes Tuesday, a move aimed at ensuring stable supplies. That amount is equivalent to more than 20% of the generating capaci...

  • Diabetes devices

    Panasonic Healthcare to bid for Bayer business

    TOKYO -- Panasonic Healthcare Holdings is expected to make a bid to acquire German drugmaker Bayer's blood glucose meter business. Panasonic Healthcare expects to spend about 100 billion yen ($830 million) for the purchase. The company is 80% own...

  • Trimming debt

    Itochu unloading US building materials vendor

    TOKYO -- Itochu agreed Friday to sell PrimeSource Building Products to an American investment company, planning to apply the cash toward reducing debt taken on with an investment in China's Citic. The sale to Platinum Equity is the largest ever o...

  • Roppongi T-Cube

    Samsung to sell former Japanese headquarters

    SEOUL -- South Korea's Samsung Electronics will sell its interest in Roppongi T-Cube, the building that once housed its Japanese headquarters, to Mitsui Fudosan as early as fiscal 2015 in a deal expected to be in the tens of billions of yen. The ...

  • Eye on Diners Club

    Sumitomo Mitsui Trust to buy Citi's credit card unit

    TOKYO -- Sumitomo Mitsui Trust Bank plans to purchase Citigroup's credit card unit in Japan for just over 40 billion yen ($332 million), completing the American financial giant's exit from retail services here. Sumitomo Mitsui Trust and Citigroup...

  • Generic-drug giant born

    Sun Pharma wraps up Ranbaxy deal

    MUMBAI -- Indian drugmaker Sun Pharmaceutical Industries said Wednesday that it has completed its absorption of compatriot Ranbaxy Laboratories and plans to boost its R&D budget to $500 million in fiscal 2016 from the $300 million planned this fiscal...

  • British telecom

    Hutchison Whampoa to buy No. 2 UK mobile provider

    HONG KONG -- Hutchison Whampoa said Wednesday it has formally agreed to buy O2 UK, Britain's second-largest mobile communications provider, from Spanish telecom company Telefonica. Hong Kong-based Hutchison Whampoa, the core unit of magnate Li Ka...

  • Hungry for customer info

    SoftBank, FamilyMart to buy into point program operator

    TOKYO -- SoftBank and FamilyMart will invest an estimated 20 billion yen ($165 million) in the company behind the T-Point rewards program, aiming to better exploit customer data to improve their own offerings and marketing. The Japanese telecommu...

  • IHH Healthcare

    Malaysian hospital group acquires 51% of India's Continental

    KUALA LUMPUR -- Malaysia's premier hospital operator IHH Healthcare announced Monday that its wholly-owned subsidiary Gleneagles Development has acquired 51% stake in India's Continental Hospitals for 167 million ringgit ($45 million). Opened in ...

  • Looking beyond Japan

    Pasona buying Indonesia temp company

    TOKYO -- Japan's Pasona Group has decided to make a staffing services company in Indonesia its first foreign acquisition, as it looks abroad for growth due to the uncertain outlook for temporary staffing at home as the population decreases. Pason...

  • Tapping Asian growth

    Japanese railway duo rolling into Vietnam with condos

    OSAKA -- Nishi-Nippon Railroad, commonly known as Nishitetsu, and Hankyu Hanshin Holdings are joining to develop condominiums in Vietnam, seeking to offset flagging railway revenue in Japan due to a declining birthrate. Nishitetsu and Hankyu Hans...

  • Win-win deal

    Pirelli purchase puts China in tire market spotlight

    HONG KONG -- China National Chemical's planned acquisition of Pirelli will make the state-owned company a major player in the global tire market while giving the Italian tire maker a much-needed opportunity to grow. The Chinese government's push ...

  • Deal still possible

    Hon Hai, Sharp to extend investment talks by 1 year

    OSAKA -- Hon Hai Precision Industry and Japan's Sharp are expected to extend by one year their negotiations over the Taiwanese company taking a stake in the electronics giant. Back in March 2012, the two sides reached an agreement in which Hon Ha...

  • Racing ahead

    ChemChina to buy Italian tire giant Pirelli

    HONG KONG -- China National Chemical will purchase Italian tire maker Pirelli for 7.1 billion euros ($7.69 billion) in what is expected to be one of the largest foreign acquisitions by a Chinese manufacturer. The state-owned ChemChina and Pirelli...

  • Renewable energy M&A

    Bain Capital seeks to buy Japan Wind Development

    TOKYO -- U.S. private-equity firm Bain Capital plans to acquire Japan's third-largest wind power company through a tender offer. Bain will offer 580 yen ($4.76) for each of Japan Wind Development's shares, a 25% premium over the company's closing...

  • Nuclear power pact

    Turkey to build 4 reactors by 2028 with Japan's help

    ISTANBUL -- The Turkish government plans to place four nuclear reactors into service by 2028 under a commercial agreement with Japanese companies concluded in 2013, details of which were recently revealed. Japan's Mitsubishi Heavy Industries and ...

  • Renewed effort

    Hon Hai to propose investment in Sharp

    TAIPEI -- Taiwan's Hon Hai Precision Industry will offer to take a stake in Sharp as part of assistance to help the Japanese electronics manufacturer get back on its feet, it was learned Friday. Back in March 2012, the two sides agreed on a deal ...

  • Energy sector reform

    Myanmar seeks foreign capital in privatizing petro company

    YANGON -- Myanmar will privatize a state-owned petroleum products sales company under the Energy Ministry as early as this year, with plans to turn the new entity into a joint venture with foreign players. As part of efforts to privatize the ener...

  • Rakuten's e-book deal

    Playing the library card

    TOKYO -- Some book lovers prefer to buy, others to borrow. Rakuten's latest acquisition looks to an increasingly important outlet for digital reading material: libraries. The Japanese e-commerce group confirmed Thursday it will buy Cleveland, Ohio...

  • Hungry for growth

    Nippon Life earmarking 1 trillion yen for M&A

    TOKYO -- Nippon Life Insurance is ready to spend more than 1 trillion yen ($8.28 billion) on mergers and acquisitions over the next three years and has already lined up several overseas insurers and asset management companies for potential purchase....