For the full year to March 31, the holding firm
expects a group net profit of 85 billion yen, down 24.
Dai-ichi Mutual was also considering buying Resona common shares from the government to raise its stake in the bank holding firm
to about 5 percent from 0.
Three subsidiary venture capital firms under financial holding firms
have reportedly exceeded the ceiling for their investments in four unlisted firms, owing stakes ranging 30-71%.
Moody's said it affirmed the ratings as the planned repurchase by the holding firm
of the preferred shares it sold to the government to replenish its depleted capital base is in line with its strategy to speed up the process of paying back the public funds, although there will be a negative impact on its group Tier 1 capital base.
The outstanding balance of bad loans at Chuo Mitsui, the core of the holding firm
, totaled 132.
shareholders on Wednesday endorsed a motion to create a holding firm
for the railway company and other Seibu group firms, thus reducing the group's control by 71-year-old Yoshiaki Tsutsumi, once listed by Forbes magazine as the world's richest man.
The stock retirement plan is therefore intended to respond to concerns among some inventors that if the holding firm
keeps these shares, they might be transferred to a third party to fend off a hostile takeover attempt or sold to the market, the paper said.
The new company, to be capitalized at 100 billion yen, will be created through an equity swap in which one share in Daido will be exchanged for 100 shares in the holding firm
, one share in Taiyo will be swapped for 55 shares in the holding firm
, and one share in T&D Financial will be traded for 15 shares in the holding firm
on Monday despite an announcement by the company's holding firm
Friday that it revised down the bank's group net balance estimate for the year to March 31 due to its greater-than-expected securities-related losses and loan-loss charges.
Under the plan, the companies will establish a new holding firm
, Nissho Iwai-Nichimen Holdings Corp.
The new holding firm
will oversee the financial group's entire business, and Mizuho Holdings will come under its control.
said Friday it will transform itself into a holding company on July 1, 2003, while reorganizing its group operations into four companies and put them under the wing of the holding firm