Yasushi Ando, a Liberal Democratic Party adviser on pensions, said that Japan's Government Pension Investment Fund should invest $95 billion in private equity and venture capital over a decade. GPIF is the world's largest pension fund with ¥124 trillion under management.
Japan
GS Holdings and LG to pay $598M for combined stake in South Korea's STX Energy
South Korean oil refiner operator GS Holdings Corp entered into an agreement with commodity trader LG International Corp to acquire a combined stake in STX Energy for $598 million.
Sprint's shares rise due to rumored merger with T-Mobile
Sprint Corp's shares climbed as much as 15% earlier in trading day today as speculation that it will be merging with rival T-Mobile US Inc rises, said a Bloomberg report.
Audi proposes $30.3 B investment plan to challenge Toyota, GM, BMW sales
Volkswagen AG's Audi division said today in a statement that it is aiming to challenge major automobile players in terms of global sales by pouring in €22 billion or $30.3 billion in auto model and technology development through 2018.
Fortress Investment Group plans to secure $1.9B for Japan's first infrastructure fund-sources
US-based Fortress Investment Group intends to raise $1.9 billion to form the first infrastructure fund in Japan called Fortress Japan Income Fund, sources told Reuters.
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Mizuho Financial Group Inc will be seeing its chairman, Takashi Tsukamoto, leaving its post after its lending unit received penalties the second time within a three-month period due to loans it extended to crime groups.
Japan's Softbank Corp is likely to tap the US bond market to fund the $20 billion acquisition of US wireless carrier T-Mobile, according to a report by the Nikkei business daily.
Sources said Japan is preparing to introduce guidelines for institutional investors known as the Japanese Stewardship Code, which would improve returns, transparency and corporate governance, Reuters reported.
Toshiba Corp is presently still in talks to buy a 50% stake in Britain-based NuGen nuclear consortium although the involved parties have yet to reach a deal, according to Toshiba Chief Executive Officer Hisao Tanaka.
Asian markets took cheer on Tuesday after Wall Street rang up more records and upbeat U.S. spending data burnished the outlook for the global economy, with Japan's Nikkei hitting a 2013 high after Tokyo markets opened after a holiday.
Brazil-based iron ore miner Vale agreed to sell a stake in logistics company VLI SA to Canadian firm Brookfield Asset Management in a deal valued at BRL2 billion ($842.78 million).
Chicago-based media firm Tribune has entered an agreement to purchase Gracenote, the California-based music data unit of Japanese conglomerate Sony in a deal valued at $170 million, according to a statement by Tribune.
The Japanese government will shoulder the decontamination costs from the 2011 Fukushima nuclear disaster through the sale of its shares in Tokyo Electric Power Co. Decontamination costs are estimated to reach ¥2.5 trillion.
Sprint chairman and SoftBank chief executive Masayoshi Son was reportedly meeting senior bank executives in New York. Sources said that banks are readying proposals for financing a bid by Sprint Corp. for T-Mobile US.
