Samsung Electronics Co.’s investment in struggling Sharp Corp. signals that the world’s top seller of TVs is accelerating a shift toward higher-end sets using OLED technology as it tries to widen the gap with Sony Corp.
Nomura Holdings Inc. and Daiwa Securities Group Inc., Japan’s largest brokerages, plan to cut costs as the faltering local economy, Europe’s sovereign credit crisis and U.S. debt impasse weigh on earnings.
Nikko Asset Management Co. this week began choosing lead underwriters for an initial public offering, said three people familiar with the plan, setting up the first debut share sale by a major Japanese asset manager in a decade.
Japanese shares rose, with the Nikkei 225 Stock Average extending an eight-month high, amid optimism the central bank will ease policy after the election, and on signs U.S. budget talks are progressing.
Japanese and Australian stock futures rose as global markets rebounded amid increasing corporate takeovers, rising commodity prices and reduced valuations that investors say make stocks from New York to London and Tokyo “cheap.”