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September 22, 1993
Tokyo brokerages see lower profitsThree of Japan's "Big Four" brokerages announced large downward revisions yesterday in their earnings forecasts for the current fiscal year because of lower-than-expected turnover on the Tokyo Stock Exchange. Japan's sagging economy and a string of scandals involving brokerage houses have reduced demand for stocks.
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BUSINESS
By Thomas Easton and Thomas Easton,Tokyo Bureau of The Sun | April 24, 1994
TOKYO -- The arithmetic for a capital market is simple: it should provide more capital than it absorbs. In a symbolic repudiation of Japan's prominence in global finance, dozens of major companies are concluding Tokyo Stock Exchange fails the test.Bell Atlantic is just one of many to recently announce delisting from the exchange, Japan's primary equity market, along with Goodyear Tire & Rubber, Eastman Kodak, and Chase Manhattan Corp.Most of these companies joined in the 1980s when Japan was flush with cash and confidence.
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BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau | June 19, 1992
TOKYO -- Japan's parliament enacted today the legislative keystone of the broadest reshaping this country's financial markets have seen since their re-establishment after World War II.The new law effectively tears out the "fire wall" that separates the banking and stock brokerage businesses, allowing the two to operateon each other's turf much as they are increasingly permitted to do in Europe and the United States.Final approval of the law in the upper house of the Diet, Japan's parliament, was virtually without debate, a sharp contrast to the pulling and hauling among deeply entrenched interests that accompanied its framing.
BUSINESS
By New York Times News Service | February 1, 1994
TOKYO -- Stock prices soared nearly 8 percent here yesterday in one of the biggest one-day rallies ever, after the Japanese Parliament broke a major legislative bottleneck by passing political reform bills late Saturday.The Parliament's action cleared the way for the government to focus on long-delayed emergency measures to revive the economy, sending spirits and stock prices soaring.It was the fourth-highest rise since the market reopened after World War II, the Tokyo Stock Exchange said.
BUSINESS
By New York Times News Service | February 1, 1994
TOKYO -- Stock prices soared nearly 8 percent here yesterday in one of the biggest one-day rallies ever, after the Japanese Parliament broke a major legislative bottleneck by passing political reform bills late Saturday.The Parliament's action cleared the way for the government to focus on long-delayed emergency measures to revive the economy, sending spirits and stock prices soaring.It was the fourth-highest rise since the market reopened after World War II, the Tokyo Stock Exchange said.
BUSINESS
By John Woodruff and John Woodruff,Tokyo Bureau of The Sun | June 23, 1991
Tokyo Ater a brief but bright spring, the Tokyo Stock Exchange headed toward summer in deep gloom last week, victim once again of the twin menaces of cascading scandals and free-falling prices.The worst day was Wednesday, when the 225-stock Nikkei Index, the market's most-watched gauge, lost 688.72 points -- 2.8 percent of its value -- in a single session.That left the Nikkei at 23,996.75, its first close below 24,000 since Feb. 6, when the TSE was belatedly joining the rest of the world's exchanges in their spectacular recovery from the effects of the Persian Gulf crisis.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau of The Sun | October 7, 1990
In future histories of international high finance, September 1990 is entitled to a footnote as the month when Japanese banks looked to the United States as a possible source of capital.After a decade of shopping their huge rolls of cash around the world, often undercutting competitors to get huge chunks of the "junk" bond issues that paid for the U.S. corporate takeovers of the 1980s, Japan's banks are themselves hunting for ways to borrow money.They are not always finding it.For the first time in a decade, key international rating houses have repeatedly downgraded major Japanese banks and put others on their "watch" lists for possible downgradings.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau of The Sun | February 23, 1991
TOKYO -- The Tokyo Stock Exchange is surging powerfully in response to mounting signs of a slowdown that would permit the government to relax its anti-inflation policies.After two weeks of repeated leaps, the 225-stock Nikkei index surged again Monday, gaining 886.27 points, or about 3.5 percent, to 26,297.84, its highest close since Aug. 21, 19 days after Iraq occupied Kuwait.Like many world markets, the TSE mostly marked time for the rest of the week, waiting for definitive news on the Persian Gulf war. Yesterday's news that Iraq had accepted a Soviet peace proposal sent the Nikkei up more than 200 points in early trading, but word of the U.S. response turned the market around.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau | March 20, 1993
TOKYO -- Is it time to think about fishing in the long-troubled waters of the Tokyo Stock Exchange?For two years, virtually every analyst in Tokyo has had the same answer: "No."A handful offered a tentative "yes" just over a year ago. But people who took their advice bought into an already-damaged market that promptly lost another 20 percent of the value reflected in its most-watched indicator, the Nikkei index of 225 stocks.Now, a rally -- the exchange's most sustained rise in half a year -- has added more than 10 percent to the Nikkei.
BUSINESS
By Thomas Easton and Thomas Easton,Tokyo Bureau of The Sun | April 24, 1994
TOKYO -- The arithmetic for a capital market is simple: it should provide more capital than it absorbs. In a symbolic repudiation of Japan's prominence in global finance, dozens of major companies are concluding Tokyo Stock Exchange fails the test.Bell Atlantic is just one of many to recently announce delisting from the exchange, Japan's primary equity market, along with Goodyear Tire & Rubber, Eastman Kodak, and Chase Manhattan Corp.Most of these companies joined in the 1980s when Japan was flush with cash and confidence.
BUSINESS
September 22, 1993
Tokyo brokerages see lower profitsThree of Japan's "Big Four" brokerages announced large downward revisions yesterday in their earnings forecasts for the current fiscal year because of lower-than-expected turnover on the Tokyo Stock Exchange. Japan's sagging economy and a string of scandals involving brokerage houses have reduced demand for stocks.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau | March 20, 1993
TOKYO -- Is it time to think about fishing in the long-troubled waters of the Tokyo Stock Exchange?For two years, virtually every analyst in Tokyo has had the same answer: "No."A handful offered a tentative "yes" just over a year ago. But people who took their advice bought into an already-damaged market that promptly lost another 20 percent of the value reflected in its most-watched indicator, the Nikkei index of 225 stocks.Now, a rally -- the exchange's most sustained rise in half a year -- has added more than 10 percent to the Nikkei.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau | June 19, 1992
TOKYO -- Japan's parliament enacted today the legislative keystone of the broadest reshaping this country's financial markets have seen since their re-establishment after World War II.The new law effectively tears out the "fire wall" that separates the banking and stock brokerage businesses, allowing the two to operateon each other's turf much as they are increasingly permitted to do in Europe and the United States.Final approval of the law in the upper house of the Diet, Japan's parliament, was virtually without debate, a sharp contrast to the pulling and hauling among deeply entrenched interests that accompanied its framing.
BUSINESS
By John Woodruff and John Woodruff,Tokyo Bureau of The Sun | June 23, 1991
Tokyo Ater a brief but bright spring, the Tokyo Stock Exchange headed toward summer in deep gloom last week, victim once again of the twin menaces of cascading scandals and free-falling prices.The worst day was Wednesday, when the 225-stock Nikkei Index, the market's most-watched gauge, lost 688.72 points -- 2.8 percent of its value -- in a single session.That left the Nikkei at 23,996.75, its first close below 24,000 since Feb. 6, when the TSE was belatedly joining the rest of the world's exchanges in their spectacular recovery from the effects of the Persian Gulf crisis.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau of The Sun | February 23, 1991
TOKYO -- The Tokyo Stock Exchange is surging powerfully in response to mounting signs of a slowdown that would permit the government to relax its anti-inflation policies.After two weeks of repeated leaps, the 225-stock Nikkei index surged again Monday, gaining 886.27 points, or about 3.5 percent, to 26,297.84, its highest close since Aug. 21, 19 days after Iraq occupied Kuwait.Like many world markets, the TSE mostly marked time for the rest of the week, waiting for definitive news on the Persian Gulf war. Yesterday's news that Iraq had accepted a Soviet peace proposal sent the Nikkei up more than 200 points in early trading, but word of the U.S. response turned the market around.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau of The Sun | October 7, 1990
In future histories of international high finance, September 1990 is entitled to a footnote as the month when Japanese banks looked to the United States as a possible source of capital.After a decade of shopping their huge rolls of cash around the world, often undercutting competitors to get huge chunks of the "junk" bond issues that paid for the U.S. corporate takeovers of the 1980s, Japan's banks are themselves hunting for ways to borrow money.They are not always finding it.For the first time in a decade, key international rating houses have repeatedly downgraded major Japanese banks and put others on their "watch" lists for possible downgradings.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | April 28, 1993
It's about time.Long-suffering investors in stock funds that emphasize Japanese equities, nearly losing hope over several dismal years, are pleased with the dramatic 1993 rally on the Tokyo Stock Exchange.They're also nervous that the always quirky Japanese market is getting ahead of itself.A recently unveiled fiscal stimulus package from the Japanese government, coupled with an interest-rate cut, should help that troubled economy. But the steps are unlikely to work miracles.New investors seeking to diversify by putting money into the revival of this Asian industrial giant should enter with their eyes open.
BUSINESS
By John E. Woodruff and John E. Woodruff,Tokyo Bureau of The Sun | October 14, 1990
Tokyo--Japanese businessmen, still struggling with the idea that there is no more easy money from the country's mammoth banks, are now learning that banks lent huge sums that helped rig prices on the Tokyo Stock Exchange.The manager of a Sumitomo Bank Ltd. branch has been charged with receiving kickbacks and lending $167 million to a stock speculator. Prosecutors have named Sanwa Bank Ltd. as the source of an additional $239 million of the same man's financing.Neither Sanwa nor any of its officials has been charged with wrongdoing.
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