Mitsushige Akino News
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Third Point LLC, the hedge fund led by billionaire Daniel Loeb, increased its stake in Sony Corp. while pushing for talks with the board on a proposed initial public offering of the company’s entertainment business.
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Japanese stocks plunged, with the Nikkei 225 Stock Average entering a bear market at the close, as the yen rose to its strongest against the dollar in two months. All shares on the gauge fell for the second time this year.
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Billionaire Daniel Loeb proposed a breakup of Sony Corp. after saying his hedge fund was its largest owner. Data from Sony, a Goldman Sachs Group Inc. vehicle and Japan’s Finance Ministry don’t support that claim.
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Daiwa Securities Group Inc. led a plunge in Japanese financial shares, slumping to an eight-week low as the nation’s stock-market retreat worsens the profit outlook.
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Japanese shares fell, with the Topix index deepening its correction, as Nomura Holdings Inc. paced declines among brokerages and a stronger yen weighed on exporters’ earnings outlook.
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Mitsubishi Motors Corp. plans to reorganize its capital to help unload the worst accumulated losses in the automotive industry.
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ANA Holdings Inc., and Japan Airlines Co., the world’s biggest operators of Boeing Co. 787s, forecast a bigger impact this year from the plane’s grounding as they prepare to restart commercial flights with the Dreamliner.
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ANA Holdings Inc., and Japan Airlines Co., the world’s biggest operators of Boeing Co. 787s, forecast a bigger impact this year from the plane’s grounding as they prepare to restart commercial flights with the Dreamliner.
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Japanese stock futures rose after the benchmark U.S. equity index extended a record high amid bets the Federal Reserve won’t rush to scale back stimulus. Australian equity futures were little changed.
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Softbank Corp. fell the most in six months in Tokyo trading after Dish Network Corp. offered $25.5 billion for control of Sprint Nextel Corp., sparking concerns the Japanese wireless carrier may raise its own bid.
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