Kentaro Tsutsumi

Staff Writer at Nikkei Asia

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Articles

Japan companies reap nearly $56bn from 3 years divesting

Sep 13, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Japanese listed companies earned almost 8 trillion yen ($56 billion) from selling shares in subsidiaries and affiliates over the past three years, the highest tally since the 2008 global financial crisis, as they sought to put shareholder money to better use. The figure for the last fiscal year alone came to about 2.5 trillion yen, the third largest after fiscal 2018 and fiscal 2022, which saw big sales by Toshiba in 2018 and by Hitachi and Marubeni in 2022, cash flow statements show.
Japan companies reap nearly $56bn in 3 years from divestments

Sep 12, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Japanese listed companies earned almost 8 trillion yen ($56 billion) from selling shares in subsidiaries and affiliates over the past three years, the highest tally since the 2008 global financial crisis, as they sought to put shareholder money to better use.
Saudi Arabia ready to make aggressive play for Japanese gaming IP

Aug 31, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Saudi Arabia is set to step beyond investing in Japanese gaming and entertainment companies and become more of a collaborative partner, Nikkei has learned, a strategic shift intended to help leverage intellectual property across the Middle East. The kingdom's Public Investment Fund will take the first step in this direction as early as next year by transferring all its game-related stocks to its Savvy Games Group business subsidiary, a Savvy representative said.
Hitachi leans into IT services and power grid, fueling 150% profit surge

Jul 31, 2024 | asia.nikkei.com | Kotaro Hosokawa |Kentaro Tsutsumi

TOKYO -- Hitachi's group net profit for the April-June quarter rose 2.5-fold on the year to 175.3 billion yen ($1.1 billion), driven by strong AI-related demand in the IT services and power transmission and distribution businesses. Net profit exceeded the QUICK Consensus market forecast of 103 billion yen by about 70%. The company announced financial results for the quarter on Wednesday.
Hitachi tops Sony in market cap, lifted by AI stock fervor

Jun 27, 2024 | asia.nikkei.com | Kotaro Hosokawa |Kentaro Tsutsumi

TOKYO --Hitachi surpassed Sony Group in market capitalization for the first time in nearly nine years on Thursday as investors embraced its transformation into an artificial intelligence stock after more than a decade of restructuring. Based on Thursday's closing prices, Hitachi had a market cap of 16.94 trillion yen ($105.45 billion), against Sony's 16.89 trillion yen. Hitachi now ranks fourth in market cap among Japanese companies, after Toyota Motor, Mitsubishi UFJ Financial Group and Keyence.
Tokyo Electron, Kobe Steel court global investors as Japan stocks rally

Feb 29, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Japan-listed companies like Kobe Steel and Tokyo Electron have stepped up efforts to attract long-term investment from foreign shareholders amid an increased interest from overseas.
Entertainment sector helps carry Japan stocks to new heights

Feb 27, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Japanese entertainment shares have emerged as key drivers of the Nikkei Stock Average's record bull market, drawing international investors with their wealth of globally competitive intellectual property. The Nikkei average climbed to an all-time high for a third straight session Tuesday.
Tokyo Electron's market cap surpasses Sony on Nvidia boost

Feb 22, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Chipmaking equipment manufacturer Tokyo Electron on Thursday became Japan's third-most valuable company in terms of market capitalization, besting such mainstays as Sony Group, thanks to the buzz surrounding Nvidia and artificial intelligence. Tokyo Electron's market cap closed at 17.25 trillion yen ($114.6 billion), with the share price having gained 6% to finish at 36,580 yen.
Tokyo Electron ups net profit outlook to $2.28bn on China demand

Feb 9, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Semiconductor equipment maker Tokyo Electron upgraded its consolidated net profit forecast for the year ending March to 340 billion yen ($2.28 billion), a 33 billion yen increase, on Friday as its earnings are lifted by strong China sales. "The self-sufficiency rate of China's semiconductor industry is still low, and active investment will continue in the future," Hiroshi Kawamoto, Tokyo Electron senior vice president, said at an online briefing.
Tokyo Electron ups net profit outlook to $2.28bn on China, AI demand

Feb 9, 2024 | asia.nikkei.com | Kentaro Tsutsumi

TOKYO -- Semiconductor equipment maker Tokyo Electron upgraded its consolidated net profit forecast for the year ending March to 340 billion yen ($2.28 billion), a 33 billion yen increase, on Friday as its earnings are lifted by strong China sales and AI-related demand. "The self-sufficiency rate of China's semiconductor industry is still low, and active investment will continue in the future," Hiroshi Kawamoto, Tokyo Electron senior vice president, said at an online briefing.