TOKYO : Japan Post Holdings said on Wednesday it's considering"various options" after Reuters reported on Tuesday it was looking into selling around a third of its stake in Japan Post Bank, a sale that could be worth nearly $9 billion.
Japan's national postal service currently owns around 89 per cent of the bank and is aiming to reduce the stake to around 60 per cent by the end of March, while the bank is considering buying back some of the shares, sources told Reuters. Shares in Japan Post Bank slide more than 6 per cent on Wednesday after the Tokyo stock market opened. Japan Post Holdings was down 1.8 per cent while the benchmark Nikkei index was down 0.9 per cent.
"The company is considering various options from the perspective of capital policy, but there is no truth that we have decided whether to conduct the reported measure, the scale or the timing of it," Japan Post and Japan Post Bank said in separately issued, similarly worded statements.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's central bank authorises ICBC Brazil as yuan clearing bankBEIJING : China's central bank has authorised ICBC Brazil to be a renminbi clearing bank in Brazil, it said on Tuesday.The establishment of such arrangements for the renminbi (RMB), or yuan, would be beneficial to cross-border transactions and further promote bilateral trade and investment facilitation,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive-Japan Post considers nearly $9 billion sale of stake in banking business -sourcesTOKYO : Japan Post Holdings Co is considering cutting its stake in its Japan Post Bank Co business by around a third by the end of next month, in a share sale potentially worth nearly $9 billion, people familiar with the matter said.The postal giant is considering selling the shares by the end of the curr
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Rapidus to build chip factory in Chitose, northern Japan -mediaTOKYO : Japan's state-backed chip venture Rapidus plans to build its first factory in Chitose city on Japan's northernmost major island of Hokkaido and is likely to make an announcement as early as next week, TV Tokyo reported on Tuesday.Chitose, a city of approximately 100,000 people in southwestern Hokk
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan's factory activity shrinks at fastest pace in 2-1/2 years-PMITOKYO : Japan's manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world's third-largest economy, which is facing weakening demand and struggling to tame cost pressures.The au Jibun Bank flash Japan manufacturing
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
G7 finance chiefs to meet on Feb 23 to discuss measures against RussiaTOKYO - Financial leaders of the Group of Seven (G7) will meet on Feb 23 to discuss measures against Russia that will put pressure on it to end the Ukraine war, Japan's Finance Minister Shunichi Suzuki said on Tuesday (Feb 21). Japan will chair the meeting of finance ministers and central bank governors from the G7 nations in the Indian...
Source: asiaonecom - 🏆 10. / 59 Read more »
BOJ's Kuroda: Wage growth to accelerate on tight job marketTOKYO : Bank of Japan Governor Haruhiko Kuroda said on Tuesday wage growth will likely accelerate as companies increase pay to compensate households for the higher cost of living, and cope with an intensifying labour shortage.Speaking in parliament, Kuroda also said the central bank will continue to scrut
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »