Economy of Japan | GlobalPost

Sumitomo Mitsui gets order for 2-km Jakarta metro section

Kyodo News InternationalJune 12, 2013 10:36

Sumitomo Mitsui Construction Co. said Wednesday that it and Indonesian ally Hutama Karya have received an order to build a 2-kilometer underground section of the envisioned 15.7-km railway system to link north and south Jakarta. The 15.6 billion yen order covers construction of both a shielded tunnel and two stations, Dukuh Atas and Bunderan HI, the Tokyo-based company said.

Japan's April core machinery orders down 8.8% on month

Kyodo News InternationalJune 12, 2013 00:30

Japan's core private-sector machinery orders in April dived a seasonally adjusted 8.8 percent from the previous month, the government said Wednesday, casting a shadow over prospects for a pickup in business investment that Prime Minister Shinzo Abe sees as a mainstay of economic growth.

Asian markets sink as BoJ move raises stimulus fears

Agence France-PresseJune 11, 2013 23:33

Asian markets tumbled in holiday-reduced trade on Wednesday, with Tokyo leading the losses as the yen surged against the dollar following the Bank of Japan's refusal to unveil any fresh stimulus measures. The greenback managed to claw back some ground in early Asian forex business but remains stuck more than six percent below its peaks seen at the end of last month. Tokyo tumbled 1.94 percent, adding to the 1.45 percent loss on Tuesday as investors were sent running by the BoJ announcement.

Tokyo stocks open 1.73% lower

Agence France-PresseJune 11, 2013 22:43

Tokyo stocks opened 1.73 percent lower Wednesday after US shares suffered broad declines over concerns about the limits of global central bank policy. The benchmark Nikkei 225 index slipped 229.96 points to 13,087.66 at the start. The Bank of Japan (BoJ) opted against additional stimulus measures on Tuesday, which triggered a sharp rise in the yen against other major currencies in New York.

Japan's Softbank sweetens offer for Sprint by $1.5 billion to $21.6 billion

The Canadian PressJune 10, 2013 22:30

OVERLAND PARK, Kan. - A month after being challenged by a rival to raise its bid for Sprint Nextel, Japan's Softbank did just that, by $1.5 billion. That brings Softbank's total bid to $21.6 billion for the nation's third-largest carrier, which is still short of the $25.5 billion offered by the rival Dish Network in April. Sprint, based in Overland Park, Kan., said already said it's determined that Dish will not be able to come up with an offer superior to Softbank's. It ended discussions with Dish and gave it a June 18 deadline for a best and final offer.

Tokyo stocks close down 1.45% after BoJ meeting

Agence France-PresseJune 11, 2013 09:32

Tokyo stocks ended 1.45 percent lower on Tuesday after the Bank of Japan (BoJ) delayed expanding April's huge stimulus scheme after a two-day meeting. The benchmark Nikkei 225 index, which soared 4.94 percent Monday, closed down 196.58 points at 13,317.62, while the Topix index of all first-section shares was down 0.97 percent, or 10.82 points, at 1,101.15.

Japan's SoftBank raises Sprint offer to $21.6 billion

Agence France-PresseJune 11, 2013 09:31

Japan's SoftBank said Tuesday it is raising its bid for US firm Sprint Nextel to $21.6 billion, the latest twist in a high-stakes bid to trump a rival offer and grab a chunk of the lucrative US mobile market. SoftBank said it would raise its original bid by $1.5 billion, just two weeks before Sprint shareholders vote on the proposed takeover of the US-based wireless carrier.

Asian markets mostly down, Tokyo hit by BoJ decision

Agence France-PresseJune 11, 2013 09:30

Asian markets mostly fell on Tuesday following the previous day's rally, with Tokyo tumbling more than two percent at one point after the Bank of Japan failed to announce any new stimulus measures. The dollar lost ground against the yen as dealers were left disappointed by the Japanese central bank, while Wall Street's lead was anaemic despite news that Standard & Poor's had upgraded its debt rating outlook on the United States.

SoftBank raises Sprint offer, wins key shareholder support

Thomson ReutersJune 11, 2013 07:35

By Mari Saito and Sinead Carew TOKYO/NEW YORK (Reuters) - Japanese mobile operator SoftBank Corp <9984.T> said it agreed with Sprint Nextel Corp <S.N> to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp <DISH.O>.

Japan's SoftBank raises Sprint offer to $21.6 billion

Agence France-PresseJune 11, 2013 07:32

Japan's SoftBank said Tuesday it would raise its bid for Sprint Nextel to $21.6 billion, the latest move in a high-stakes bid to trump a rival and grab a chunk of the lucrative US wireless market. SoftBank said it would increase its original bid by $1.5 billion just two weeks before Sprint shareholders vote on the proposed takeover of the third-largest US wireless carrier. If successful, it would mark the biggest overseas takeover by a Japanese firm.