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TYO:9401

2 stories mentioning TYO:9401Updated 36d ago

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Asia

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

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.

KOSDAQ:035760TYO:9401TYO:9418
Asia

Japanese Shares Recoup Early Losses as Investors Await US Fed Policy, Middle East Developments

Japanese shares recovered from early-session losses to close higher on Wednesday as investors positioned themselves ahead of the US Federal Reserve's decision on interest rates and monitored progress of the US-Iran conflict.The Nikkei 225 finished the day up 497.75 points or 0.72% at 69,902.25.Investors are awaiting the US Fed Chairman Kevin Warsh's comments on inflation, unemployment, and the economic outlook at his first post-Federal Open Market Committee press conference later in the day.On the economic front, Japan incurred a trade deficit of 378.7 billion yen in May, versus a revised trade surplus of 299.3 billion yen in April, according to preliminary data released by Japan Customs on Wednesday.The country's core machinery orders, which exclude volatile sectors such as ships and electric power, increased 8.7% month on month on a seasonally adjusted basis in April, according to data from the Cabinet Office released on Wednesday.On the corporate side, TBS Holdings (TYO:9401) repurchased 2.7 million shares for 16.82 billion yen through the Tokyo Stock Exchange's treasury share repurchase trading system on Wednesday, according to a filing on the Tokyo Stock Exchange.Also, Marubeni (TYO:8002) acquired EagleRidge Energy II, securing a production footprint in the Barnett Shale near Dallas, one of the largest metropolitan areas in the U.S, at an undisclosed value, according to a company statement on Wednesday.

Nikkei 225TYO:8002TYO:9401

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