PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Japan’s ruling LDP proposed to scrap the NTT Law in 2025, while the requires the government to own at least a third of NTT (9432 JT) with the proposal aimed at boosting the Co.’s competitiveness

JAPAN

Isetan Mitsukoshi (3099 JT) - Co. plans to close 2 stores in Tianjin, China. (Newswires)

Itochu Techno Solutions (4739 JT) - Co. is to delist from the Tokyo Stock Exchange effective today. (Newswires)

Mitsubishi Estate (8802 JT) - Co. is to invest JPY 500bln over the next 10 years to develop its logistics facility. (Nikkei)

NEC Corp (6701 JT) - Co. is to invest JPY 20bln to boost defence equipment output. (Nikkei)

NTT (9432 JT) - Japan’s ruling LDP proposed to scrap the NTT Law in 2025, while the requires the government to own at least a third of the Co. with the proposal aimed at boosting the Co.’s competitiveness. (Japan Times)

Otsuka Holdings (4578 JT) - Co. California-based subsidiary announced the acquisition of Bonafide Health for USD 425mln. (Newswires)

Seven & I (3382 JT) - Co. is to buyback 2.83% of its shares worth JPY 110bln. (Newswires)

Sumitomo Mitsui Financial Group (8316 JT) - Co. named Deputy President Nakashima as its President and CEO effective December 1st. (Newswires)

Suntory Beverage & Food (2587 JT) - Co. plans to invest in Seattle-based Atomo. (Newswires)

Tsuruha Holdings (3391 JT) - Co. November same-store sales rose 1.7% Y/Y. (Newswires)

FX - Japan’s government did not intervene in the FX markets from October 30th to November 28th. (Newswires)

Other News - BoJ outlined its schedule of outright purchases for December with the frequency and purchase size ranges maintained from the prior month. (Newswires)

SOUTH KOREA

LG Energy Solution (373220 KS) - Co. is in talks with GM (GM) over tax benefit sharing with GM said to ask the Co. to allocate up to 85% of tax benefits. (Newswires)

Other News

South Korean President Yoon created a new office for policy and replaced all 5 senior secretaries, while the report added that senior economic affairs secretary Choi has been tapped to replace Finance Minister Choo who is expected to run for parliament. (Yonhap)

South Korean and US officials discussed the Inflation Reduction Act and chips subsidy rules in a meeting on Thursday. (Yonhap)

Geopolitical - US Treasury Department issued new North Korean sanctions targeting 8 individuals and the hacking group Kimsuky. (Newswires)

30 Nov 2023 - 23:41- Fixed IncomeResearch Sheet- Source: Newswires