Nippon Life's $12 Billion Acquisition Spree Is Just Beginning

BNN BloombergDec 22 22:00 ET

The Nikkei average fell for the sixth consecutive day, closing at a low due to the decline in financial stocks.

On the 19th, the U.S. Stocks market was mixed. The Dow Inc. rose by $15.37 to close at $42,342.24, while the Nasdaq fell by 19.93 points to end at $19,372.77. After the opening, the market experienced an upward movement. The sharp drop the previous day, due to the indication from the Federal Reserve Board (FRB) of a slowdown in the pace of additional interest rate cuts during the Federal Open Market Committee (FOMC), was seen as an overreaction, leading to a wave of buying. The domestic Gross Domestic Product (GDP) for the July to September period was revised upward, and new unemployment Insurance claims were announced in the morning.

Fisco JapanDec 20 02:00 ET

And Do Holdings - Capital and business partnership with Dai-ichi Life HD.

And Do Holdings <3457> announced on the 18th that it has entered into a capital and business partnership contract with Dai-ichi Life HD <8750>, and resolved to dispose of its own shares, designating the company as the target for disposal and allocation, as well as third-party allocation through new stock issuance. Additionally, as part of this capital and business partnership, a stock transfer agreement was signed between major shareholder Masahiro Ando and Dai-ichi Life HD, under which the common stock owned by Mr. Ando will be transferred to Dai-ichi Life HD on January 10, 2025.

Fisco JapanDec 20 00:52 ET

And Do Holdings --- Decision on matters related to stock repurchase.

And Do Holdings <3457> announced on the 18th that the board of directors held on the same day passed a resolution regarding matters related to the acquisition of its own shares based on Article 156 of the Companies Act, as applied by Article 165, Paragraph 3 of the same law. The purpose of this acquisition of treasury stock is to promote a capital and business partnership with Dai-ichi Life Holdings <8750>, and it will be executed through a third-party allocation of treasury stock with the company as the disposal destination. The type of shares being acquired is common stock.

Fisco JapanDec 20 00:49 ET

Three points to focus on in the latter half of the session - temporarily recovering to the 39,000 yen level, but facing heavy resistance above.

In the trading session on the 20th, three points should be noted. ・The Nikkei average rebounded for the first time in six days, briefly recovering to the 39,000 yen range, but resistance is strong. ・The dollar-yen exchange rate is weak, with adjustments in selling due to the slowdown of U.S. interest rates. ・The top contributor to the increase is TDK <6762>, and second is Sony Group Corp <6758>. ■ The Nikkei average rebounded for the first time in six days, briefly recovering to the 39,000 yen range, but resistance is strong. The Nikkei average rebounded for the first time in six days, up 76.37 yen (+0.20%) to 38,889.95 yen (estimated Volume of 1.1 billion shares).

Fisco JapanDec 19 22:34 ET

The Nikkei average rebounded for the first time in six days, briefly recovering to the 39,000 yen level, but the upside remains heavy.

The Nikkei average rebounded for the first time in six days, finishing the morning session at 38,889.95 yen, up 76.37 yen (+0.20%) from the previous day (estimated volume 1.1 billion shares). The U.S. stock market on the 19th was mixed. The Dow Inc was up 15.37 dollars at 42,342.24 dollars, while the Nasdaq closed down 19.93 points at 19,372.77. After the opening, the market rose. Following the Federal Open Market Committee (FOMC) indicating a slowdown in the pace of additional rate cuts by the Federal Reserve Board (FRB).

Fisco JapanDec 19 22:10 ET