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Past Issues78 published

Past Issues

Sep 11, 2026

China's 99.2% Chip-Gas Tariff, and a Tax Pledge Tokyo Keeps Repeating

Beijing slaps a provisional 99.2% tariff on a semiconductor gas just as Tokyo repeats a familiar tax pledge; elsewhere, bidders keep raising and buybacks keep resetting.

China's Provisional 99.2% Tariff Hits a Key Chipmaking Gas, Tokyo ProtestsJapan's Finance Minister Rules Out Deficit Bonds to Fund Food Tax CutKakaku.com's Suitor Raises Bid to ¥3,680 a Share, Buys Three More Weeks

Sep 10, 2026

EQT Sweetens Its Kakaku.com Bid Again, Digital Garage Eyes a ¥122bn Payday

EQT just raised its Kakaku.com offer a third time, to ¥3,680 a share, as Bain Capital and LINE Yahoo refuse to fold, with Digital Garage watching a ¥122.4bn exit hang in the balance.

EQT Raises Kakaku.com Bid to ¥3,680 as Bain Capital Rivalry Drags OnJapan's Finance Minister Says G7 and Washington Backed Currency Intervention, No G20 Objections RaisedJapan's Finance Minister Rules Out Deficit Bonds to Fund Food Tax Cut

Sep 9, 2026

China's Chip-Gas Tariff Lands as Life Corp Pays Up for Albis

China slaps a near-100% provisional duty on a chip-grade gas the same week Tokyo tallies its US investment pledge, while Life Corporation sweetens its Albis buyout and SoftBank retires $25.9bn of OpenAI debt.

China's Provisional 99.2% Duty on a Chip-Grade Gas Lands as Japan Marks One Fifth of Its $550bn US Investment PledgeJapan's Economy Grew 0.5% in the April-June Quarter, Second GDP Estimate ShowsJapan's Finance Minister Ties Food Tax Cut Funding to No New Deficit Bonds

Sep 8, 2026

Japan's Growth Holds at 1.9%, Capex Doesn't Follow

Second-quarter growth held at an annualized 1.9%, but exports did the heavy lifting while business investment sat out, a reminder that a clean headline number can hide a shakier engine room.

Japan's Second-Quarter GDP Growth Holds at an Annualized 1.9% as Exports Cover for Weak CapexJapan's Finance Minister Rules Out Special Bonds to Pay for the Food Tax CutLife Corporation Bids ¥3,780 a Share for ALBIS as Dividend Is Cut to Zero

Sep 7, 2026

3D Investment Partners Crosses 10% of J. Front, Reserves the Right to Push Back

A Singapore fund crossed 10% of J. Front Retailing and reserved the right to demand board changes, asset sales, or a dividend rethink, while two more activists sharpen their targets elsewhere in Tokyo.

3D Investment Partners Pushes Past 10% of J. Front Retailing, Reserves Right to Demand Board ChangesOasis Management Lifts en inc. Stake to 13.45% and Adds Delisting to Its DemandsDigital Hearts Chairman Bids ¥1,060 a Share to Take the Company Private

Sep 4, 2026

Nidec's 844-case reckoning, and a trillion yen of new Japanese debt

Nidec's own investigators tallied 844 cases of quality misconduct across three units and blamed unrealistic targets and centralized control: proof that governance problems rarely announce themselves quietly.

Nidec investigators confirm 844 cases of quality misconduct, concentrated in three business unitsDentsu Group Locks Up Its 61.76% Stake Ahead of ITOCHU-Backed Bid for Dentsu SokenOasis Management Lifts SMS Stake to 24.65% While Pressing a Broad Slate of Proposals

Sep 3, 2026

Cash Down, Shares Pledged: Nippon Sheet Glass Changes Hands

Lumina paid ¥165bn cash for 72% of Nippon Sheet Glass, then handed those same shares to fourteen banks as collateral — proof a cash deal can still run on borrowed comfort elsewhere.

Lumina Pays ¥165bn Cash for 72% of Nippon Sheet Glass, Squeeze-Out Set for September 30Dai-ichi Life to Pay ¥59.6bn for Full Control of New Zealand's Fidelity LifeYamato HD to End Domestic Freighter Service With JAL as Air Costs Outrun Trucking

Sep 2, 2026

Japan Post's Freelance Fix, Zensho's Leveraged Founders, and a Going-Private Standoff

Japan's antitrust watchdog orders Japan Post to fix its freelance contracts after finding 167 disclosure failures and 140 late payments, opening a morning stacked with control fights, leveraged founders and one oversubscribed buyback.

Japan Post Ordered to Fix Contract Disclosure for 167 Freelancers, Late Pay for 140Zensho Founding Family Pledges 3 Million More Shares to Sumitomo Mitsui BankSeed's Top Shareholder Skips Luxshare's Tender Offer, Aims to Keep Majority Control

Sep 1, 2026

Oasis Grinds Past 22% at SMS as Board-Change Demands Land

An activist fund edges past a fifth of a healthcare staffer, an auditor won't sign off on a property group's books, and a titanium maker prices a raise nobody's cheering. Tokyo's Tuesday morning, sorted.

Oasis Lifts SMS Stake to 22.38% and Puts Board Changes, Asset Sales and Delisting on the TableREVOLUTION Probe Finds 28 of 251 Property Funds Mislabeled as Sales, Not LoansBaudroie's ¥2,970 MBO Price Carries a Fraction of the Premium in Comparable Japanese Buyouts

Aug 31, 2026

Apollo Buys the Keys to a Glassmaker, and Japan's Deal Season Keeps Rolling

A shell company capitalized at ¥5,000 just took control of a TSE Prime glassmaker, while Itochu folds a listed consultancy into a joint venture and a curry chain admits it's weighing going private.

Apollo-Backed Vehicle Takes 72% Control of Nippon Sheet Glass, Delisting Set for Late SeptemberItochu Vehicle Offers ¥2,880 a Share to Take Dentsu Soken PrivateIchibanya and House Foods Confirm Going-Private Review, Won't Verify Stake-Sale Report

Aug 28, 2026

ITOCHU Buys Out Dentsu Soken While Kakaku.com's Suitor Haggles Over One Yen

ITOCHU takes an IT consultancy private with a ¥2,880 offer and a canceled dividend, while Kakaku.com's buyer sweetens its bid by exactly one yen to buy two more weeks.

Itochu Vehicle Offers ¥2,880 a Share to Take Dentsu Soken PrivateKakaku.com Bidder Raises Buyout Price by One Yen to Buy Two More WeeksEvo Fund's Bitcoin Japan Stake Slips to 49.54% as Warrant Overhang Persists

Aug 27, 2026

Kioxia and SanDisk's ¥5tn Ask, With a Government String Attached

Kioxia and SanDisk want ¥5tn for Japanese chip plants by 2032, if Tokyo pays its share. Meanwhile Kakaku.com's suitor sweetened its bid by exactly one yen, because apparently that's how you win a standoff.

Kioxia and SanDisk Set ¥5tn Japan Investment Target Through 2032, With a Government CatchLuxshare's ¥795 Bid for Seed Leaves Its Largest Shareholder in ControlKakaku.com Bidder Sweetens Offer by ¥1 as Rival's Grip on Key Shareholder Lapses

Aug 26, 2026

DNP's Austrian Endgame, an Insider Buyout, and Activists on the March

DNP inches past Austria's finish line, a chairman buys the company he already runs, and activist funds press Wacom and COMSYS for bigger payouts as Tokyo's ownership season heats up.

Dai Nippon Printing Locks Up 96.55% of Austria's AustriaCard, One Approval Short of Sealing the DealART VIVANT's Own Chairman Buys Control of the Company He RunsWacom Investor AVI Lifts Stake to 18.1%, Presses for 65% Dividend Payout

Aug 25, 2026

Osaka Titanium's ¥22bn Bet Against Russian Metal

Osaka Titanium is betting ¥22bn plus a state subsidy that aerospace buyers keep shunning Russian metal, while Hitachi finally exits its last construction-machinery stake and Terra Drone wins Japan's lone interceptor-drone pass.

Osaka Titanium Raises ¥22bn and Taps State Aid to Chase Aerospace's Russia-Free Titanium DemandTerra Drone Is the Only Company to Clear Japan's Interceptor-Drone TrialJapan Drafts Distance and Capacity Rules for Power Plant Rebuilds

Aug 24, 2026

SoftBank Asks Retail Investors for ¥1tn — Coupon Up to 4.90%

SoftBank goes hunting for retail savings again, dangling a coupon as high as 4.90% on a ¥1tn bond, while Marui borrows for free and ANAP's shareholders brace for steep dilution at a September vote.

SoftBank Group Sells Retail Investors a ¥1tn Bond Paying Up to 4.90%Marui Sells ¥50bn Zero-Coupon Bonds to Fund Fintech Growth, Times a ¥15bn Buyback to MatchLintec's ¥30bn Buyback Trims Nippon Paper's Pending Share Sale by a Quarter

Aug 21, 2026

Apollo's Glass Exit Clears, Nidec's Boardroom Gets Noisy

Apollo's buyout of Nippon Sheet Glass finally has real dates, while Nidec shareholders demand a lawsuit and Oasis draws a hard line in the Kakaku.com fight.

Nippon Sheet Glass Clears Final Hurdle for Apollo's ¥165.0bn Buyout, Sets Delisting for September 28Oasis Draws a ¥3,640 Line in the Kakaku.com Takeover FightNidec Shareholders Demand Lawsuit Against Current and Former Directors

Aug 20, 2026

Japan's Exports Set Records, Its Trade Deficit Sets a Different Kind of Record

Japan's customs data show record exports and record imports for July — proof a weaker yen giveth and taketh away, widening the trade deficit 306% from a year ago.

Japan's July Exports Hit a Record, but the Trade Deficit Widens 306%Mitsubishi Electric Agrees to Pay $1.4bn for the Software Behind 60% of US Power GenerationSilchester Discloses 5.07% Stake in Hakuhodo DY Holdings, Signals Push on Payouts

Aug 19, 2026

Kansai Electric's Bigger Bill Lands the Same Week Hitachi Finally Lets Go

Kansai Electric will charge its biggest factories more starting in November, Hitachi finally lets go of the machinery maker's shares it still held, and Bain Capital's buyout already spent Baudroie's next dividend before shareholders saw a yen of it.

Kansai Electric to Raise Corporate Power Tariffs From November as Inflation and Green-Policy Costs BiteHitachi Construction Machinery to Buy Back ¥34bn in Stock as Hitachi Sells Its Entire StakeBain Capital's Buyout Cancels Baudroie's Planned Dividend

Aug 18, 2026

Don Quijote's Owner Posts a Record Year, Then Guides for Almost Nothing

Don Quijote's owner just posted its best year in memory, then all but promised an encore nobody should get excited about. Elsewhere, a bridge builder's quality problems go back to 1980, and Citadel just showed up in a stock register.

Don Quijote's Owner Posts 21.6% Profit Jump, Then Guides for Almost No GrowthKanadevia's bridge plant ran seven kinds of quality fraud, some dating to 1980Oasis Raises M3 Stake to 6.26% and Puts Board Removal, Delisting on the Table

Aug 17, 2026

Japan grows for a third straight quarter, but its companies still won't spend

Japan's economy grew again in the June quarter on household spending and exports, while companies kept their wallets shut; elsewhere, Seven & i's ¥300bn alliance money finally lands and Kakaku.com's suitor sweetens its bid for a second time.

Japan's economy grew 0.5% in the June quarter, but companies flinched on investmentSeven & i Completes ¥300.0bn Share Placement to SoftBank, PayPay and Mitsui Sumitomo CardKakaku.com Buyout Price Rises for a Second Time, to ¥3,570, as Key Holders Stay Out of the Tender

Aug 14, 2026

ASICS Clears ¥1tn, Advance Create Clears Its Conscience (Five Years Late)

ASICS just guided to ¥1tn in sales and spun off Onitsuka Tiger, while five years of Advance Create's books quietly got rewritten. Tokyo's earnings season cuts both ways today.

ASICS Tops ¥1tn Sales Outlook, Raises Dividend, Preps Onitsuka Tiger Spin-offKakaku.com Buyout Price Climbs to ¥3,570 as Bain Capital-Backed Rival Bid Forces Second IncreaseSMFG Hits 100% of Its ¥180bn Buyback Ceiling, Leaving 30% of Share Quota Unused

Aug 13, 2026

Kakaku.com's Bidders Raise the Stakes to ¥3,570

A takeover fight for Japan's price-comparison giant just got pricier, department stores are splitting shares on record profits, and Bitcoin's mark-to-market math finally caught up with one aggressive treasury bet.

EQT-Backed Bidder Raises Kakaku.com Tender Offer to ¥3,570, Pushes Deadline to August 27Isetan Mitsukoshi Splits Stock and Raises Profit Guidance After a Record QuarterSkylark Raises Profit Guidance as Diners Keep Spending Despite Pricier Menus

Aug 12, 2026

A Short Seller's Skin in the Game, and Three Auditors Who Said Not Yet

Gotham City admits it's short Sumitomo Pharma's stock and says the drug's science doesn't hold up; three other issuers just told Tokyo their auditors need more time.

Sumitomo Pharma Disputes Short-Seller's Image-Duplication Claims on Kyoto-Linked DrugDMG Mori Taps Overseas Investors for ¥48.2bn to Fund Poland Plant and Chicago R&D HubOnto Innovation Becomes Rigaku Holdings' Top Shareholder as Carlyle-Linked Fund's Stake Shrinks to 0.29%

Aug 10, 2026

The BOJ Spots a Crack in the AI Trade While Japan Inc. Cashes In

The Bank of Japan just added a new line to its worry list: a possible AI stock bust. Meanwhile DIC, Sumitomo Metal Mining and Sony Financial Group show why the boom still pays, for now.

Bank of Japan Adds AI Valuation Risk to Its List of Threats to Japan's RecoveryDIC's AI Chip Boom Fuels Record Interim Profit, Dividend Rise and BuybackSumitomo Metal Mining Lifts Profit Outlook 55% on Copper, Gold and a Weaker Yen

Aug 7, 2026

Kirin's ¥218bn Wellness Bet, Plus a Record Day for Earnings Guidance

Kirin pays cash for Canada's biggest vitamin maker, INPEX and McDonald's Japan both raise guidance, and Sun* explains why its books need more time before anyone sees them.

Kirin Agrees ¥218bn Cash Buyout of Canada's Top Vitamin Maker Jamieson WellnessINPEX Lifts Full-Year Profit Guidance to a Record ¥510bn Despite Falling Oil SalesMcDonald's Japan Raises Full-Year Profit Guidance After Strong Half-Year

Aug 6, 2026

Japan Raises Drug Copays as Chipmakers Raise Profit Guides

Health regulators want a 25% surcharge on prescriptions that double as OTC drugs, chipmakers are raising profit guides on AI demand, and one chairman is buying out his own shareholders. Here's this morning's line-up.

Japan Drafts 25% Surcharge on 1,100 Prescription Drugs That Mirror OTC MedicinesDigital Hearts Founder Offers ¥1,060 a Share to Take Game-Testing Group PrivateKokusai Electric Raises Profit Forecast 46% as AI Chip Investment Accelerates

Aug 5, 2026

IHI's Real Record Hides Behind a Property Sale

IHI's headline profit jumped on a ¥40bn property sale, but strip that out and its aerospace business still posted a record first quarter on its own. Elsewhere, a BOJ governor skips his own meeting and steelmakers finally get a number.

IHI's Underlying Profit Hits a Quarterly Record Before Property Sales Are Even CountedBank of Japan Minutes Show Ueda Absent, Bond Taper Held to ¥2.7tn a MonthJapan's FSA Splits Its Main Supervisory Bureau, Adds a Crypto and Stablecoin Division

Aug 4, 2026

Nippon Steel Leads a Wave of Japanese Earnings Upgrades This Morning

Nippon Steel just raised its profit forecast by nearly a third on US steel strength and a United States Steel turnaround, and it had plenty of company this morning as Kubota, Ibiden and half of Japan's industrial roster followed with guidance hikes of their own.

Nippon Steel Raises Profit Forecast by Nearly a Third on US Steel StrengthEnergy Boom Drives a 65% Profit Jump at Mitsubishi Heavy IndustriesKubota Lifts Full-Year Profit Forecast a Third on Weak Yen and US Tariff Refunds

Aug 3, 2026

BOJ: Oil Shock First, Inflation Above 2% Later

The Bank of Japan says a Middle East oil shock will slow growth before inflation climbs back above 2%, a two-act forecast that gives megabanks, Nissan and Eisai plenty to argue about before the market even opens.

BOJ Outlook: Core Inflation to Clear 2% Later This Fiscal Year as Oil Prices Slow Growth FirstMUFG's Quarterly Profit Jumps 48% While Its Full-Year Target Stays PutNissan Swings to a ¥77.9bn Profit, But the Cash Keeps Draining

Jul 31, 2026

BOJ Holds at 1%, One Board Member Says Not Fast Enough

The Bank of Japan held rates steady 8-1 but one dissenter wants a faster hike, while Tokyo's earnings season serves up record AI profits and one costly dividend cancellation.

BOJ Holds Rate at 1.0% as Board Member Pushes for a Faster HikeNYK's ¥10,600 Bid for NS United Kaiun Zeroes the Dividend - But Only If the Deal ClosesKakaku.com Suitor Extends Deadline Again as Bain Capital and LINE Yahoo Float a Higher Bid
Past Issues | Tokyo Brief