FINWIRES · TerminalLIVE
FINWIRES

TBS Acquires 6.45% Stake in U-Next in Strategic Alliance

By

TBS (TYO:9401) has agreed to purchase 11.63 million common shares of U-Next (TYO:9418) for 20 billion yen through an off-market transaction, giving it a 6.45% voting stake and raising its total ownership to 8.03% post-deal.

The capital and business alliance aims to merge TBS's content production strengths with U-Next's streaming platform to boost global competitiveness in original content creation, according to a Tokyo bourse filing on Friday.

The partnership includes plans for a joint venture with South Korea's CJ ENM (KOSDAQ:035760), along with collaborations spanning video archives, background music services, karaoke systems, and cross-industry customer bases.

The transaction is scheduled to close on July 3, with only a minor impact on TBS's consolidated earnings expected.

U-Next, TBS and CJ ENM first disclosed plans to form a joint venture in February.

Related Articles

Asia

Media Reports: Small Aircraft Hits Citic Tower, Beijing's Tallest Skyscraper

Shanghai Composite^SZSE
Asia

China's Central Bank Plans Overnight Reverse Repo in End-June

The People's Bank of China will increase the overnight reverse repurchase operation in its open market operations on June 29 and June 30.The operation will adopt a fixed interest rate and quantity bidding, according to a Thursday statement.The new rate will be an addition to the PBOC's regular seven-day reverse repo rate, currently at 1.4%, which has served as the main policy benchmark since 2024, Bloomberg reported.Standard Chartered's Becky Liu said the move is a major step toward aligning with U.S. policy rate structures, according to the report. She added that the overnight reverse repo rate is the figure to watch and anything at 1.25% or below would amount to a de facto PBOC rate cut.

Shanghai Composite^SZSE
Asia

Hong Leong Bank Sells 640 Million Ringgit Bonds

Hong Leong Bank (KLSE:HLBANK) issued 640 million ringgit of bonds divided into two tranches, according to a Friday Malaysian bourse filing.The issue comprised 350 million ringgit of 10-year bonds carrying an interest rate of 3.9% per annum, and 290 million ringgit of 12-year bonds carrying a 4% interest rate.The call dates for the two tranches will be June 26, 2031, and June 27, 2033, respectively.The bonds were issued under the lender's multi-currency tier 2 subordinated bond program.

KLSE:HLBANK