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MarketScreener Homepage  >  Equities  >  Tokyo  >  Japan Post Holdings Co Ltd    6178   JP3752900005

JAPAN POST HOLDINGS CO LTD

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Government leaves Nomura out of Japan Post share sale after information leak

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05/31/2019 | 04:49am EDT
FILE PHOTO: Nomura Holdings' CEO Nagai attends an interview with Reuters in Tokyo

TOKYO (Reuters) - Japan on Friday named six investment banks to lead manage a mammoth sale of shares in Japan Post Holdings, leaving out top-ranked Nomura Holdings days after it was disciplined over an information leak.

The Ministry of Finance said it had chosen Daiwa Securities, Mizuho Securities and SMBC Nikko Securities to handle the domestic sale.

Goldman Sachs, Merrill Lynch and JP Morgan were chosen for overseas sales, it said.

While the government has yet to announce the size of the share sale, it is widely expected to raise at least 1.2 trillion yen ($11 billion).

But Nomura, Japan's largest investment bank and brokerage and usually a fixture in the country's high-profile capital markets deals, was not named.

Japan's financial watchdog on Tuesday ordered Nomura to improve its business practices after the firm said an employee had leaked market information.

"We took into account issues that occurred during the review period," a director of government shareholding office at the ministry told reporters, referring to the leak of information related to listing and delisting criteria now under review by the Tokyo Stock Exchange.

A spokesman for Nomura declined to comment when asked by Reuters about the share sale.

The CEO of Nomura, Koji Nagai, last week took responsibility for the improper handling of market information and said he would take a 30% pay cut for three months.

An employee from its Nomura Research Institute affiliate leaked information about the expected changes to the chief strategist of its securities arm, who informed sales staff. The sales staff, in turn, told clients, Nomura has said.

(Reporting by Takashi Umekawa; Additional reporting by Takaya Yamaguchi and Junko Fujita; Editing by David Dolan and Christopher Cushing)

By Takashi Umekawa

Stocks mentioned in the article
ChangeLast1st jan.
DAIWA SECURITIES GROUP INC 1.88% 444.9 End-of-day quote.-18.61%
JAPAN POST HOLDINGS CO LTD 0.30% 995 End-of-day quote.-20.46%
NOMURA HOLDINGS INC 2.38% 392.1 End-of-day quote.-5.01%
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Financials (JPY)
Sales 2020 12 582 B
EBIT 2020 752 B
Net income 2020 431 B
Finance 2020 52 080 B
Yield 2020 5,20%
P/E ratio 2020 9,24x
P/E ratio 2021 8,98x
EV / Sales2020 -3,82x
EV / Sales2021 -3,82x
Capitalization 4 023 B
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Technical analysis trends JAPAN POST HOLDINGS CO LTD
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 11
Average target price 1 362,00  JPY
Last Close Price 995,00  JPY
Spread / Highest target 60,8%
Spread / Average Target 36,9%
Spread / Lowest Target 20,6%
EPS Revisions
Managers
NameTitle
Masatsugu Nagato President & Director
Hidetake Kikuhara Executive Officer
Seiji Yukino Executive Officer & Senior Manager-Group IT
Yasuo Suzuki Director & Representative SEVP
Miwako Noma Independent Outside Director
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