The Japanese government will place 1 billion 60 million shares of Japan Post Holdings. As a representative of the Ministry of Finance of Japan told Bloomberg, 4 underwriters in Japan and 2 from abroad were selected for this purpose. Japan Post Holdings, which provides postal, courier and other logistics services, was fully owned by the state before the IPO in 2015. The Japanese government has previously placed 43% of the company's shares, which allowed it to attract about 2 trillion 800 billion yen. Now, it is preparing to sell the last tranche of the company's shares in order to reduce the state’s share in Japan Post to the level prescribed by law. Taking into account the current price of shares, which at the end of trading on Tuesday amounted to 1,286 yen, the new placement of Japan Post may bring 1 trillion 360 billion yen to the government. According to Nikkei, these funds are planned to be used to restore areas that were hit by tsunamis and earthquakes in 2011.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting ...