Tags: Shinzo Abe
Daniel Loeb's Third Point picks stake in Seven & I
The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
Land of rising sun warms up to investors
Despite down 12.7 percent from the 52-week high of 20,952.71 points, Japan's Nikkei offered 27.89 percent return for 2015 so far and the last two sessions of the previous week further indicated the upward momentum in the market.
Japan inflation weakens consumer purchasing power in July
Japan's economy continues to decline. Inflation rate and household spending crawled in July. This is according to data that was released onFriday that will possibly add pressure on the central bank to raise its barrage of monetary stimulus.
Drop in consumption, exports squeeze Japan’s export basket
The reduction in consumer spending and drop in exports are squeezing the world's third largest economy. During April-June quarter, exports from Japan eased putting further pressure on the Japanese economy, which slowed down at 1.6 percent annual growth rate as against the forecast of 1.9 percent.