Deals

New World Development

Hong Kong conglomerate steps back from hotel business

HONG KONG -- The family of Hong Kong billionaire Henry Cheng Kar-shun is reorganizing its extensive hotel investments, aiming to sharpen listed flagship company New World Development's focus on property endeavors. New World China Land, a Hong Ko...

  • Better service

    Rakuten, Yamato team on e-commerce delivery options, fulfillment

    TOKYO -- Rakuten and Yamato Holdings will collaborate on e-commerce, offering more delivery options for shoppers and helping retailers with order fulfillment, the two companies said Monday. "We will improve convenience for users and revitalize th...

  • Overseas expansion continues

    Hakuhodo DY buys Canadian ad company Sid Lee

    TOKYO -- Hakuhodo DY Holdings acquired Canadian advertising company Sid Lee, buying all shares Sunday for an estimated 10 billion yen ($80.9 million). Sid Lee, based in the province of Quebec, operates in four countries including the U.S. and Fra...

  • Closer partnership

    Kirin Holdings teams with San Miguel Brewery on soft drinks

    TOKYO -- Kirin Holdings will develop soft drinks with San Miguel Brewery, strengthening the Japanese company's partnership with the Philippines' largest brewery, President Yoshinori Isozaki told The Nikkei on Friday. Kirin has about a 48% stake i...

  • Exporting infrastructure

    Japanese consortium nabs major Thai railway deal

    BANGKOK -- Three Japanese companies secured an order worth over 32 billion baht ($946 million) to equip a railway linking Bangkok with nearby suburbs, Thai Transport Minister Prajin Juntong told The Nikkei on Thursday. The deal, among the largest...

  • Telekomunikasi Indonesia

    Tower Bersama share swap talks extended

    JAKARTA -- State-owned Telekomunikasi Indonesia on Wednesday said it has extended negotiations on a share swap deal with a telecommunications tower lessor, after failing to reach an agreement by June. The state telecom company, known as Telkom, i...

  • Natural gas processing

    Samsung Heavy Industries lands $4.7bn floating LNG order from Shell

    SEOUL -- Samsung Heavy Industries will build three floating liquefied natural gas facilities for Royal Dutch Shell, the South Korean shipbuilder said Wednesday. FLNG facilities are a new type of maritime vessel that are designed to process natura...

  • Seeking growth overseas

    SMBC to buy loan portfolio from GE European finance unit

    TOKYO -- Sumitomo Mitsui Banking Corp. has agreed to buy loans from a financial unit of General Electric for about $2.2 billion to boost business opportunities overseas. By purchasing loans involving about 100 companies from GE Corporate Finance ...

  • Pirelli CEO interview

    Italian tire maker can offer tech to new Chinese parent

    MILAN -- Italian tire manufacturer Pirelli can gain access to large Asian markets by moving under the umbrella of China National Chemical, or ChemChina, while providing technologies in return. Marco Tronchetti Provera, chairman and CEO of Pirelli...

  • Emerging markets in mind

    Mitsubishi Heavy-affiliated forklift maker to buy Japanese peer

    TOKYO -- Mitsubishi Nichiyu Forklift is poised to acquire UniCarriers Holdings for more than 100 billion yen ($803 million) in a move that will raise it from sixth place to third in the global forklift market. The public-private Innovation Networ...

  • Asian economic integration

    Thailand's Saha to step up distribution with help from Seino

    BANGKOK -- Thai consumer goods conglomerate Saha Group and Japan's Seino Holdings will form a joint distribution business with an eye toward regional expansion, Saha announced Friday. Seino-Saha Logistics will be set up in September. Saha will co...

  • Power infrastructure development

    Mitsubishi Electric to provide technical support to Myanmar transformer maker

    TOKYO -- Mitsubishi Electric has formed Thursday a technical license agreement with Myanmar's biggest manufacturer of transformers. The company will be lending technological support to Asia General Transformer, which will be mass-producing large ...

  • Expanding power infrastructure

    Hitachi entering joint venture in Myanmar to produce transformers

    YANGON -- Hitachi will join with a company in Myanmar to make transformers to meet the country's burgeoning power demand. A subsidiary, Hitachi Industrial Equipment Systems, is expected to reach agreement on the joint venture next month with My...

  • Investing in Southeast Asia

    Itochu to join Singapore startup fund

    YANGON -- Itochu will invest in an incubation fund for information technology startups, seeking to tap promising companies in Southeast Asia. The Japanese trading house will pump a little over 100 million yen ($800,000) into a fund to be set up a...

  • Alibaba sells US subsidiary 11 Main to US E-commerce company OpenSky

    HONG KONG/BEIJING (Dow Jones) -- Alibaba Group Holding Ltd.'s decision to sell its U.S. online shopping site to a U.S. rival highlights the challenges facing the Chinese electronic-commerce company in mature Western markets dominated by competitors s...

  • Finding imperfect smartphone displays

    Konica Minolta to buy US measurement equipment maker

    TOKYO -- Konica Minolta plans to acquire U.S. measurement equipment manufacturer Radiant Vision Systems to tap into the company's technology in detecting pixel defects in the displays of smartphones and other devices. The Japanese company is expe...

  • Retail banking takeover

    SMBC will keep Citibank staff after acquisition

    TOKYO -- Sumitomo Mitsui Banking Corp. will absorb all 1,600 personnel in Citibank Japan's retail banking division when it takes over the unit Nov. 1. Under a plan to be announced Wednesday, subsidiary SMBC Trust Bank will keep roughly 1,450 curr...

  • Fubon Financial Holding

    Taiwanese company acquires 48% stake in Hyundai Life Insurance

    TAIPEI -- Taiwan's Fubon Financial Holding has agreed to pay 220 billion won ($200 million) via its insurance unit for a 48% stake in South Korea's Hyundai Life Insurance, pending on approval from both governments, the Taiwanese company said in a sta...

  • Capturing the Chinese consumer

    Onward Holdings, Laox to create clothing retailer

    TOKYO -- Apparel maker Onward Holdings and electronics retailer Laox said Monday that they will establish a clothing joint venture in September in an effort to tap the purchasing power of Chinese middle-class consumers. The main selling point of ...

  • Overseas infrastructure

    Taisei, Obayashi to build nuclear plant in Turkey

    TOKYO -- General contractors Taisei and Obayashi will join a nuclear power plant project in Turkey led by the Japanese and Turkish governments. Major French construction company Bouygues and two or three Turkish contractors will team with Taisei ...