Itochu Ends Consideration of Seven & I Holdings Acquisition Proposal

MT NewswiresMar 3 04:17 ET

The Nikkei average surged by 629 points, rebounding significantly, and the TOPIX also rose, marking the largest increase this year as of the afternoon of the 3rd.

On the 3rd, the Nikkei Average Stock Price rose significantly by 629.97 yen compared to the previous weekend, reaching 37,785.47 yen, marking the second largest increase of the year after January 7 (776.25 yen). The TOPIX (Tokyo Stock Price Index) also rose by 47.47 points to 2,729.56 points, exceeding the gain of 32.26 points on February 13 and achieving the largest increase this year. On February 28 in the local U.S. stock market, the concern over the resurgence of inflation eased, leading to broad buying of stocks, which also influenced the buying of Japanese stocks from the morning.

Kabushiki ShimbunMar 3 01:51 ET

After the acquisition plan of Japan's retailer Seven & i fell through, the CEO is reported to resign.

According to reports, Ryuichi Isaka, the CEO of Seven & i Holdings Co., will step down. It is reported that Board of Directors member Stephen Dacus will take over the position; he previously led the special committee related to evaluating the acquisition proposal from Canada’s Alimentation Couche-Tard Inc. Dacus joined the Seven & i Board of Directors in 2022 as an external member when Seven & i was under the scrutiny of activist investor ValueAct Capital.

Global market report.Mar 2 22:47 ET

The Nikkei average rose by 424 points, rebounding, with all 33 Industries increasing, and over 80% of Main Board stocks rising = March 3rd morning session.

On March 3, the Nikkei average in the morning session rose by 424 yen and 52 sen from the previous weekend, reaching 37,580 yen and 2 sen. The TOPIX (Tokyo Stock Price Index) also increased by 34.07 points to 2,716.16 points. Shortly after the market opened at 9:00 AM, the Nikkei average hit 37,720 yen and 36 sen, up by 564 yen and 86 sen. In the US stock market on February 28, the January PCE (Personal Consumption Expenditures) deflator rose by 0.3% compared to the previous month, aligning with market forecasts. There is concern over renewed inflation.

Kabushiki ShimbunMar 2 21:51 ET

The Nikkei average is up about 450 yen, and after a round of buying, it is in a sideways trading condition as of March 3rd, morning session.

On March 3rd at around 10:09 AM, the Nikkei average stock price was trading at approximately 37,605 yen, up about 450 yen from the previous weekend. Just after the market opened at 9:00 AM, it reached 37,720.36 yen, up 564.86 yen. In the US stock market on February 28, the January PCE (Personal Consumption Expenditures) deflator in the US rose by 0.3% compared to the previous month, matching market average expectations. Concerns over a resurgence of inflation eased, leading to broad buying of stocks. In response to this movement, Japanese stocks were also bought actively. However, buying...

Kabushiki ShimbunMar 2 20:13 ET

Itochu Shokuhin Co Raises FY Dividend Plan to Y140.00

Dow JonesFeb 27 23:00 ET