Deals

Mitsui to acquire coal mine interest in Mozambique

TOKYO -- Mitsui & Co. agreed with resource group Vale to purchase stakes in a Mozambique coal mine and associated rail and port facilities for about $770 million.Mitsui will acquire a 15% stake in the coal mine and a 35% interest in the rail and port...

  • Japan's Terumo making play for US medical device business

    TOKYO -- Terumo is looking to purchase a portion of U.S.-based Abbott Laboratories' medical device business, part of efforts by the Japanese company to capitalize on rising global demand.Abbott has put some operations on the auction block, and the To...

  • AB InBev-SABMiller deal leaves Japanese rivals flat

    TOKYO -- As the world's two largest brewers formally announced plans to merge, their Japanese rivals risk being left in their shadow.The proposed Oct. 10 deal between Belgium's Anheuser-Busch InBev and SABMiller of Britain was approved by shareholder...

  • JCB to issue credit cards with Indonesian bank

    JAKARTA -- Japan's JCB looks to issue 50,000 credit cards to Bank Central Asia's wealthy account holders in the first year of a partnership with the Indonesian financial institution.JCB will offer the cards as soon as next year. The Japanese company ...

  • Ritz-Carlton to expand Japanese footprint with Nikko hotel

    UTSUNOMIYA, Japan -- Ritz-Carlton Hotel plans to open a property in Nikko, Tochigi Prefecture, as early as 2019, as part of a push to expand operations in Japan.The U.S. luxury-hotel operator will work with Japan's Tobu Railway, which owns roughly 20...

  • Amazon partners with Bollywood for Prime push in India

    NEW DELHI -- Amazon is going full throttle to expand operations in India, where the e-commerce giant has begun teaming with Bollywood production houses to offer popular flicks on its digital streaming platform, expected to launch soon in Asia's third...

  • Global containership alliance to sail on without Hanjin

    TOKYO -- Three leading Japanese containership operators and their partners will likely launch an alliance without Hanjin Shipping, a major South Korean player that went belly up last month, a key Japanese industry figure said Wednesday.Japan's Nippon...

  • Exclusive

    Hitachi, Toshiba, Mitsubishi Heavy near nuclear fuel tie-up deal

    TOKYO -- Three major Japanese companies are in final talks to integrate their nuclear fuel businesses as early as spring, as Hitachi, Toshiba and Mitsubishi Heavy Industries aim to keep those operations afloat even while most of the country's nuclear...

  • Japan regional banks team up in overseas services

    TOKYO -- Bank of Yokohama and Nishi-Nippon City Bank will make services at their overseas locations available to corporate clients of both banks in an effort to support Japanese companies' operations abroad.The two large regional banks are looking of...

  • Takata to sell US unit to cover airbag recall costs

    TOKYO -- Japanese autoparts maker Takata appears ready to sell a U.S. unit to cope with its airbag recall costs.The troubled airbag maker is to sell Irvin Automotive Products to U.S. peer Piston Group, sources said Tuesday. It would put part of the 1...

  • Exclusive

    Japanese Coca-Cola bottlers agree to merge

    FUKUOKA -- Japan's two leading Coca-Cola bottlers have reached a basic agreement to merge as early as next spring, a move that will create a company with annual sales of more than 1 trillion yen ($9.95 billion) in a domestic soft-drink market that ha...

  • Rolling Stone magazine sells 49% stake to Singapore's BandLab

    SINGAPORE -- BandLab Technologies, a Singaporean internet venture company led by the son of a local palm oil billionaire, is to acquire 49% of the well-known American pop culture magazine Rolling Stone.BandLab did not disclose how much it was paying ...

  • China's steel giant merger may help ease global glut

    SHANGHAI -- Could the merger of Baosteel and Wuhan Steel help arrest China's persistent gushing of too much steel on the global market?

  • Startups impress financial giants at Tokyo fintech summit

    TOKYO -- A dozen startups from Japan and elsewhere showcased innovation at a two-day financial technology summit that concluded here Wednesday, winning the hearts of big-name companies interested in collaborating with them.Twelve of the 25 prescreene...

  • Japanese solar giant eyes energy-savings venture in Thailand

    TOKYO -- Major solar power installation company West Holdings will partner with Japanese banks to provide businesses in Southeast Asia with energy-efficiency expertise via services ranging from consulting to equipment installations.The Japanese compa...

  • China's Baosteel takes over Wuhan to create world's No.2 steelmaker

    SHANGHAI (Reuters) -- China's Baosteel Group will fully take over Wuhan Steel Group to create the world's second largest steelmaker after ArcelorMittal, as Beijing aims to increase the concentration level of the scattered industry.The new entity will...

  • Idemitsu outlet operators support stalled merger

    TOKYO -- A national association of Idemitsu Kosan-affiliated oil distributors will communicate support for the refiner's proposed merger with rival Showa Shell Sekiyu to the founding family, in hopes of finally ending the standoff between the company...

  • Daio Paper sells literary museum to Chinese publisher

    TOKYO -- Daio Paper has sold a museum dedicated to renowned Japanese author Junichi Watanabe to China's Qingdao Publishing Group.The museum, located in Sapporo, opened in 1998. Daio created it to celebrate the recipient of the Naoki Prize, a Hokkaido...

  • Baosteel, Wuhan Steel take step toward mega-merger

    SHANGHAI -- Baosteel Group and Wuhan Iron and Steel Group will combine their listed units, the subsidiaries said Tuesday.The two state-owned steel companies had been negotiating a possible integration for some time, and a specific arrangement is now ...

  • Kirin launches talks on Brazilian beer tie-up

    TOKYO -- Japan's Kirin Holdings began negotiating with three peers Tuesday, seeking an ally to help turn around its foundering Brazilian beer operations.Kirin is in talks with Netherlands-based Heineken; Belgium's Anheuser-Busch InBev, Brazil's large...