Subscribe free to our newsletters via your
. Energy News .

Japan firms say mergers held up by China regulators
by Staff Writers
Tokyo (AFP) Dec 21, 2012

Sony and Olympus said Friday their planned medical device merger has been delayed until next year, with reports and some firms saying it was the latest corporate marriage held up by Chinese regulators.

Firms in Japan, which is embroiled in a territorial row with Beijing, have launched a string of mergers and acquisitions including blockbuster deals such as Softbank's $20 billion takeover of US-based Sprint Nextel.

But some are blaming delays in completing the deals due to holdups by China's anti-trust regulators, with home builder Daiwa House Industry saying it is delaying a planned 50 billion yen ($595 million) purchase of contractor Fujita.

A share transfer that was to happen Thursday will now be pushed back "because procedures under Chinese competition law remain in effect", Daiwa House said in a statement.

Transactions that encompass operations in more than one country often require competition regulators in different nations to sign off on the deals.

Electronics giant Sony and camera and medical equipment maker Olympus, which are planning a joint venture to develop endoscopes, said Friday the launch of their new company will be delayed until next year "because procedures in some of the countries are taking longer than expected".

An Olympus spokesman declined to comment further, but Dow Jones Newswires reported that a person with knowledge of the matter had said the pair are awaiting anti-trust approval from China and an eastern European country.

Other deals awaiting the green light from Chinese regulators include ad giant Dentsu's planned $5.0 billion purchase of Britain-based Aegis Group and reportedly Marubeni's $3.6 billion acquisition of US grain giant Gavilon Group.

Dentsu said it has received approval from seven countries including Australia, Germany and the United States, with China the lone holdout.

The Japan-China territorial dispute flared in September when Tokyo nationalised some East China Sea islands that are also claimed by Beijing, sparking anti-Tokyo protests and a consumer boycott of Japan-brand goods.

But experts said China is often slower than other countries in clearing antitrust applications, and it was uncertain if the holdup for Japanese firms was intentional.

The value of deals by Japanese firms abroad has topped $110 billion so far this year, according to data provider Dealogic, a shopping spree driven by a strong yen and limp domestic market.


Related Links
Global Trade News

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Luxury firms pin hopes on China
Beijing (AFP) Dec 21, 2012
Clad in a black and orange Prada winter coat with a diamond-shaped pattern she snapped up during a trip to Milan, Jennifer Ren embodies China's nouveau riche. For the 27-year-old exhibition planner, accessories such as Dior handbags, Chanel perfume and necklaces by French jewellery house Van Cleef & Arpels are daily fashion essentials. "Luxury goods have become a necessary part of my lif ... read more

Indian washermen spin out decades-old tradition

National Grid Creates Big Questions for Transmission Industry

Zimbabwe and China ink $400 mn electricity deal

Germany energy 'revolution' on course despite concerns

Keystone XL: Welcome to the Proxy Energy War

Judge clears BP's $7.8 bn settlement in US oil spill

Exxon extends Africa's energy enterprise

YPF seeks $37B cash for shale development

China's wind towers face U.S. tariffs

Offshore wind power: AREVA and STX France ally their expertise

US confirms duties on 1towers from China, Vietnam

Ground broken on Irish Midlands wind farm

Top-10 Solar Market Predictions for 2013

KYOCERA Surpasses Two Million Solar Modules Produced in North America

Solar panel companies in federal probe

Asian Supermarket Distribution Center Completes Solar Installation

Swedish nuclear reactor shut after sea water infiltration

Faults said risk to Japan nuclear plants

Vattenfall wants 3.5 bn euros in German nuclear spat

Talks on SoCal nuclear plant restart held

NC State Study Offers Insight Into Converting Wood to Bio-Oil

Can Algae-Derived Oils Support Large-Scale, Low-Cost Biofuels Production?

Plastic packaging industry is moving towards completely bio-based products

Gases from Grasses

Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

Action by 2020 key for limiting climate change

University of Tennessee study predicts extreme climate in Eastern US

Major climate change report draft leaked online: IPCC

Climate modelers see possible warmer, wetter Northeast winters by 2070

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement