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Orix to Absorb Tsukuba Lease, Plan Dissolution After Company Split

Orix (TYO:8591) said it will implement an absorption-type company split to transfer the business of subsidiary Tsukuba Lease to itself and Orix Auto, followed by the unit's dissolution and liquidation, according to a Monday filing on the Tokyo Stock Exchange.The split is aimed at improving operational efficiency and optimizing resource allocation within the group as it integrates Tsukuba Lease's operations.Under the plan, Orix and Orix Auto will take over Tsukuba Lease's lease and installment sales businesses, including associated assets, liabilities, and contractual rights, with the effective date scheduled for Aug. 1.The companies will pay consideration based on the book value of Tsukuba Lease's lease receivables and installment receivables as of July 31. Tsukuba Lease will be dissolved and liquidated after the split takes effect, while its business will continue under the successor companies.

TYO:8591

Asia153d ago

CCReB Advisors Partners with Kokopelli to Expand CRE Services

CCReB Advisors (TYO:276A) said it has entered into a business alliance with Kokopelli (TYO:4167) to expand services for regional financial institutions, according to a Monday filing on the Tokyo Stock Exchange.The partnership will integrate Kokopelli's BM Portal platform with CCReB Advisors' real estate matching system to enhance corporate real estate services and improve access for regional lenders and businesses.The companies aim to accelerate regional expansion of matching services and develop new business opportunities by leveraging their respective networks and technology platforms.

TYO:276ATYO:4167

Asia153d ago

Chinese Rare-Earth Companies Finish High on Increases in Q2 Prices

Chinese rare-earth companies saw spikes in their closing prices on Monday following an increase in their second-quarter product prices.Inner Mongolia Baotou Steel Union (SHA:600010) finished 5% higher, while China Northern Rare Earth Group High-Tech (SHA:600111) closed at 1% higher.The companies said their rare earth concentrates were priced at 38,804 yuan per ton, according to separate Saturday filings with the Shanghai bourse.The increases come as Beijing applied retaliatory export curbs following tariffs by U.S. President Donald Trump, according to a separate Bloomberg report Monday.

Shanghai Composite^SZSESHA:600010

Asia153d ago

Giftee Sees Limited Impact from Middle East Tensions on Operations

Giftee (TYO:4449) said the impact of the current situation in the Middle East on its business and financial results remains limited, according to a Monday filing on the Tokyo Stock Exchange.The company said its e-gift platform operations across Japan, ASEAN markets and the MENA region continue to be driven mainly by domestic demand, with no significant disruption reported.In the Middle East, where its subsidiary operates, giftee said business locations and employees remain safe and operations are continuing as normal.The company said prolonged geopolitical tensions could lead to higher crude oil prices and currency volatility, which may indirectly affect client performance and, in turn, its financial results.

TYO:4449

Equities153d ago

Bernstein Adjusts Price Target on Chevron to $216 From $194, Maintains Market Perform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $210.08, according to analysts polled by FactSet.

$CVX

Equities153d ago

Jefferies Adjusts Price Target on Chevron to $236 From $227, Maintains Buy Rating

Chevron (CVX) has an average rating of overweight and mean price target of $210.08, according to analysts polled by FactSet.

$CVX

Equities153d ago

Bernstein Adjusts Price Target on Exxon Mobil to $195 From $159, Maintains Outperform Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $163.12, according to analysts polled by FactSet.

$XOM

Asia153d ago

Nara Space Technology Wins KRW2 Billion Government Contract

Nara Space Technology (KOSDAQ:478340) secured a contract for a simulated satellite-ground control system from South Korea's Agency for Defense Development, according to a Monday filing with the Korea Exchange.ADD is a state-run institute dedicated to advancing South Korea's defense technologies.The contract, valued at 1.98 billion won, is valid till Aug. 31, 2028.Shares of Nara Space Technology jumped nearly 7% at market close.

KOSDAQ:478340

Asia153d ago

Npr-Riken Unit to Acquire Hastings to Expand Piston Ring Business

NPR-Riken (TYO:6209) said it will acquire all shares of Hastings Holding through its U.S. unit, aiming to strengthen its global piston ring business, according to a Monday filing on the Tokyo Stock Exchange.The acquisition will be carried out by Riken Corporation of America, making Hastings Holding a wholly owned subsidiary, the company said. Financial terms were not disclosed.Hastings Holding oversees manufacturing operations in the U.S. and Europe and owns the Hastings brand, which has a strong presence in the global piston ring aftermarket, particularly in North and Central America.NPR-RIKEN said the deal will complement its existing customer base and regional footprint, enhancing competitiveness and profitability through production and sourcing synergies.

TYO:6209

Research153d ago

HSBC Downgrades NIKE to Hold From Buy, Adjusts Price Target to $48 From $90

NIKE (NKE) has an average rating of overweight and mean price target of $61.18, according to analysts polled by FactSet.

$NKE

Asia153d ago

Glp J-Reit Warns Investors of May Expiry for 2023 Distribution Claims

Glp J-Reit (TYO:3281) said the right to claim distributions for its fiscal period ended February 2023 will expire on May 18, according to a Monday filing on the Tokyo Stock Exchange.The trust said distribution claims lapse if unclaimed for three years from the payment start date, in line with its articles of incorporation.It added that distribution rights for the fiscal period ended August 2023 and subsequent periods will also expire after three years from their respective payment dates.

TYO:3281

Research153d ago

William O'Neil Initiates Coherent at Buy

Coherent (COHR) has an average rating of overweight and mean price target of $285.53, according to analysts polled by FactSet.

$COHR

Asia153d ago

Singapore Shares Plummet, Track Regional Losses Following Collapse of US-Iran Peace Talks

Singapore shares sank on Monday, tracking broader regional losses after the US-Iran peace talks in Islamabad ended without a resolution.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,965.48 and 4,984.17 throughout the day. It ended the session at 4,984.17, down 5.24 points or 0.1% compared to Friday's close.Following the breakdown in discussions, the US military said that it will block all maritime traffic entering and exiting Iranian ports, with Tehran terming the US blockade as "illegal".On the corporate fund, shares of Mary Chia (SGX:5OX) slumped over 9% at the close as it received a statutory demand from Fullink Capital in respect of an alleged sum of around SG$902,640.Medtecs International (SGX:546) was down over 2% as the company pulled the plug on its joint venture with Shijiazhuang Hongray, following a strategic review of plans and prevailing market conditions.Meanwhile, CapitaLand Investment (SGX:9CI) closed its CapitaLand Asia Pacific Credit Program II (ACP II), securing $320 million in total equity commitments.

^STISGX:546SGX:5OXSGX:9CI

Research153d ago

Jefferies Upgrades Starbucks to Hold From Underperform, Adjusts Price Target to $92 From $86

Starbucks (SBUX) has an average rating of hold and mean price target of $100.16, according to analysts polled by FactSet.

$SBUX

Research153d ago

KeyBanc Upgrades T-Mobile US to Overweight From Sector Weight, Price Target is $260

T-Mobile US (TMUS) has an average rating of overweight and mean price target of $266.74, according to analysts polled by FactSet.

$TMUS

Research153d ago

Evercore ISI Upgrades PulteGroup to Outperform From In Line, Adjusts PT to $146 From $143

PulteGroup (PHM) has an average rating of overweight and mean price target of $137, according to analysts polled by FactSet.

$PHM

Research153d ago

Evercore ISI Upgrades Masco to Outperform From In Line, Price Target is $78

Masco (MAS) has an average rating of overweight and mean price target of $78.17, according to analysts polled by FactSet.

$MAS

Asia153d ago

Metaplanet Opens 60-Day ADR Fee Waiver for US Investors

Metaplanet (TYO:3350) said it has introduced a 60-day waiver on ADR issuance fees for its Sponsored Level 1 American Depositary Receipt program from April 13 to June 12, according to a Monday filing on the Tokyo Stock Exchange.The waiver applies to all investors converting existing F-shares or purchasing ADRs under the MPJPY ticker, with each receipt representing one ordinary share traded on the U.S. OTC market.The company said the move is aimed at improving accessibility and liquidity among U.S. investors, with ADRs settled through the Depository Trust Company system and supported by major broker platforms.

TYO:3350

Asia153d ago

Npr-Riken to Halt Japan Production of Key Casting Parts Amid Weak Demand

NPR-Riken (TYO:6209) said it will terminate domestic production of certain casting components, excluding camshafts, by September 2027 as part of a business portfolio review, according to a Monday filing on the Tokyo Stock Exchange.The move comes amid declining demand for cast iron automotive parts in Japan, driven by lower domestic vehicle production and a shift toward aluminum components and overseas sourcing.The affected business reported net sales of about 5.1 billion yen and an operating loss of 725 million yen for the fiscal year ended March 2025, accounting for roughly 3% of the company's consolidated revenue.

TYO:6209

Asia153d ago

Idom's Full-Year Profit Falls 11%

Idom's (TYO:7599) profit attributable to owners of the parent fell 11% to 11.9 billion yen for the fiscal year ended Feb. 28 from 13.4 billion yen a year earlier.The used car sales company's basic earnings per share declined to 118.66 yen from 133.93 yen a year ago, according to a Tokyo bourse filing on Monday.Net sales climbed 13% to 562.8 billion yen from 496.7 billion yen in the prior year.In a separate filing, Idom declared a final dividend of 20.17 yen per share, payable from May 27.The figure, which is lower than the most recent forecast of 21.92 yen and the 20.80 yen paid in the previous year, will be submitted for approval at the general shareholders' meeting on May 26.For the fiscal year ending Feb. 28, 2027, the company expects attributable profit of 14.2 billion yen, basic EPS of 141.42 yen, and net sales of 629 billion yen.Idom plans to pay interim and year-end dividends of 21.06 yen and 21.37 yen per share, respectively, for the year.

TYO:7599

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