Japan Financial News

Nomura Holdings, Japan's biggest brokerage and investment bank, reported on Friday a 670% jump in quarterly net profit compared to a year earlier as its retail and investment banking income rose to their highest levels in eight years. January-March net profit was 56.8 billion yen ($363.87 million) compared to 7.3 billion yen a year earlier when worries about a global banking crisis engulfed global markets and hit Nomura's investment banking business.

Global shares are rising despite worries about the economic outlook and inflation in the U.S. and globally

Neogen Chemicals, the fast-growing speciality chemical company, is gearing up for a multifold scale-up in the coming years by virtue of being the first mover and arguably the most credible entrant in India’s promising EV battery chemicals space, said domestic brokerage firm Kotak Institutional Equities. In its recent report, the brokerage initiated coverage on Neogen stock with a 'buy' rating and a target price of ₹1,840 apiece.

investment firm Capria Ventures has concluded the fundraising for its India Opportunity Fund at Rs 153 crore (around $19 million). Previously known as Unitus Ventures, Capria had announced the first close of the fund at Rs 80 crore in February 2023.

Cboe plans to close its spot crypto trading platform by Q3, with cash-settled crypto futures moving to the Cboe Futures Exchange by 2025.

Bank of Japan left interest rates on hold on Friday, keeping traders on edge as to when and to what degree authorities in Tokyo may intervene. The yen fell by about 0.2% and weakened to 156.1 per dollar in the minutes after the announcement. The yen also nudged down to its weakest almost 16 years at 167.38 per euro and its weakest in nearly a decade on the Australian dollar.

fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified. Client withdrawals from US funds targeting environmental, social and governance goals reached $8.8 billion in the first three months of 2024, according to fresh data compiled by Morningstar.. That stood in stark contrast to the roughly $11 billion of inflows into ESG funds in Europe, where sustainable investing regulations are far more entrenched.

Benchmark U.S. crude oil for June delivery rose 76 cents to $83.57 per barrel Thursday

Spicy, steaming, slurpy, ramen might be everyone’s favorite Japanese food

REC Ltd on Thursday said it has secured a green loan for JPY 60.536 billion (about Rs 3,200 crore) to finance eligible clean energy projects. The green facility benefits from an 80% guarantee by Italian export credit agency, SACE (Italy). In January, the company had issued its first yen-denominated 61.1 billion green bonds under its $10-billion global medium term notes programme.

Japanese automaker Honda is putting $15 billion into their Ontario operations with a new electric vehicle manufacturing plant in Alliston, Ont. with a joint $5 billion coming from the federal and Ontario governments.

Honda plans to invest $11 billion, with the help of joint venture partners, to build out its electric vehicle efforts in Canada as it prepares for future demand in North America for the automobiles

Ramen noodles are so popular that they've become one reason to visit Japan

The Tokyo Stock Exchange aims to attract listings from Asian startups, leveraging the market’s recent ascent to record highs and positioning itself as a preferred fundraising destination for companies outside Japan. Under a new initiative, the exchange is working with banks and other partners to select a few startups from other parts of Asia this summer to help them grow their business for potential initial public offerings down the road, said Hiromi Yamaji, group chief executive of Japan Exchange Group, the parent company of the Tokyo exchange. “We want them to use the Japanese market as a springboard to become a global company," Yamaji said in a recent interview.

The rupee closed at 83.3150 against the U.S. dollar, barely changed from its close of 83.3225 in the previous session.

The surging dollar has hurt stocks outside the US but one group at least stands to gain: companies that export to the world’s largest economy.

US fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified.

lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China. India's Ministry of Mines began discussions with Australia and the United States last year, said the four sources, two from India's government and two industry participants. The Indian government and some private companies have also sought help from Bolivia, Britain, Japan, and South Korea, said the sources, who did not wish to be identified as the discussions were not public. Executives from Russia's TENEX, part of state-owned nuclear energy company Rosatom, approached the Indian government and have held at least two meetings with Indian officials this year, offering lithium processing technology and the possibility of collaborating with Indian companies, said one of the sources, a senior government official with direct knowledge of the plans.

Day trading stocks to buy today: Following weakness in the Asian stock market, the Indian stock market opened lower on Thursday, ending its four-day winning streak that started last Friday. The Nifty 50 index is down by nearly 60 points, the BSE Sensex is down by over 200 points whereas the Bank Nifty today is down by nearly 170 points. Asian equity markets dropped after Meta Platforms Inc.’s disappointing outlook raised concern about whether the industry that has powered the bull market in equities has run too far.

yen was pinned on the weaker side of 155 per dollar on Thursday as the Bank of Japan (BOJ) kicks off its two-day rate-setting meeting, leaving traders nervous as to whether Tokyo will intervene while policy deliberations are still underway. Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo. A 15% dive in shares of Meta in extended trading after the Instagram parent forecast lighter-than-expected current quarter revenue and higher expenses soured the mood, sparking a sell-off in U.S. tech and tech-related stocks.