|Bid||3,385.00 x 0|
|Ask||3,385.00 x 0|
|Day's Range||3,340.00 - 3,465.00|
|52 Week Range||2,840.00 - 3,980.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||20.78|
|Earnings Date||Feb 12, 2019 - Feb 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3,796.70|
Surging production of U.S. liquefied natural gas (LNG) and slower growth of demand in Asia this year could leave companies that have committed to long-term purchase contracts struggling to find markets. Several European and Asian utilities have signed up to long-term deals for U.S. LNG that last 10 to 15 years. When they signed up five years or so ago, buyers were confident Asia could soak up any extra supplies produced by the U.S. LNG industry, which at the time had barely got going.
YOKOHAMA, Japan (AP) — Toshiba Corp. unveiled a remote-controlled robot with tongs on Monday that it hopes will be able to probe the inside of one of the three damaged reactors at Japan's tsunami-hit Fukushima nuclear plant and grip chunks of highly radioactive melted fuel.
Leveraged finance is off to a promising start in Asia Pacific in 2019, with a handful of big-ticket private equity buyouts set to hit the loan market despite high levels of economic uncertainty. The strong deal flow in Asia stands in contrast to the US and European markets, where concerns over growth prospects and lending standards are hobbling activity. In Australia, three leveraged buyouts are in the works for healthcare company Healthscope, adult education provider Navitas and accounting software maker MYOB.
Hitachi's decision to freeze its $28 billion (£22 billion) nuclear power project in Britain strengthens the hand of France's EDF and its Chinese partner in talks with the government on how to finance new reactors. Funding new nuclear plants has become critical as Hitachi became the second Japanese firm to say its British nuclear power project had hit the buffers over financing. The two projects would have covered about 13 percent of Britain's power needs.
LONDON/TOKYO (Reuters) - Japan's Hitachi Ltd put a $28 billion nuclear power project in Britain on hold on Thursday, dealing a blow to the country's plans for the replacement of ageing plants. Hitachi's UK unit Horizon Nuclear Power failed to find private investors for its plan to build a plant at Wylfa in Anglesey, Wales, which was expected to provide about 6 percent of Britain's electricity. "We've made the decision to freeze the project from the economic standpoint as a private company," Hitachi said, adding it had booked a write-down of 300 billion yen ($2.8 billion).
China’s General Nuclear Power Corporation (CGN) (IPO-CGNP.HK) will bring forward plans to build a nuclear plant in Britain, it said on Thursday, helping plug a gap left by the failure of two Japanese projects. Japan's Hitachi Ltd confirmed on Thursday it had frozen plans for a plant in Wales, while Toshiba Corp scrapped its British NuGen project last year. The British government said it offered a package of financial support to Hitachi after it requested more help, but the firm said the economics still did not add up.
LONDON (Reuters) - Britain will explore its options for funding new nuclear plants as the cost of renewables has fallen so sharply it could not justify much higher subsidies for Hitachi's Horizon nuclear ...
Britain is committed to the nuclear power sector, Prime Minister Theresa May's spokesman said on Thursday, after Japan's Hitachi Ltd froze a 3 trillion yen (£21.37 billion) nuclear power project in Wales. Hitachi had called on the British government to boost financial support for the project. "Any deal needs to deliver for UK consumers and taxpayer.
LONDON/TOKYO (Reuters) - Japan's Hitachi has yet to decide whether to proceed with its trillion yen (£7.2 billion) nuclear project in Britain and talks with the government are continuing, the company and government said on Friday. Hitachi's Horizon Nuclear Power unit has struggled to find investors for its plans to build a plant in Anglesey, Wales, which could provide about 6 percent of Britain’s electricity. Japan’s Nikkei business daily reported that Hitachi had decided to freeze the project, although it also reported that the board had yet to vote to make it a formal decision.
China's fourth Westinghouse-designed AP1000 reactor went into full operation after a trial run this week, the operator said, marking the completion of the first phase of the project after years of delays. China signed a deal with the U.S. firm in 2007 to build four reactors, hoping to create a platform for Beijing's ambitious nuclear power expansion plans, but the roll-out of the unproven "third-generation" technology has been beset by safety concerns and design problems. The second unit of the Haiyang nuclear power project on the eastern coast of China's Shandong province is now ready to go into full commercial operation after 168 hours of full-load operations, China's State Power Investment Corp said in statement on Thursday.
Syndicated lending in Asia Pacific, excluding Japan, grew for the first time in four years to US$484.82bn in 2018 and recorded the second-biggest annual tally since US$523bn in 2014, despite a muted year for event-driven financings amid increasing equity and bond market volatility. Lending in Asia Pacific was 8.9% higher than US$445.31bn in 2017 after late surges in Australia, China and Singapore, as three of the region’s major loan markets showed significant growth despite the overhang of US interest rate rises for most of the year. “Asian loan markets remained stable in 2018 despite volatility in global capital markets and a slowdown in overall M&A financing activity amidst a reduction in China cross-border M&A activity,” said Benjamin Ng, Citigroup’s head of debt syndicate, loans and acquisition finance in Asia.
Hong Kong-based activist fund Argyle Street Management asked Japan's Toshiba Corp on Thursday to exit more non-core businesses such as office machinery company Toshiba TEC to bolster margins of the once-mighty conglomerate. Toshiba has already announced exits from its British nuclear power and U.S. LNG businesses as part of a plan to regain investor confidence after a 2015 accounting scandal uncovered widespread irregularities and forced it to recognise huge cost overruns at its now-bankrupt U.S. nuclear unit Westinghouse. "We believe that further firm commitments to divest other non-core businesses (such as Toshiba TEC for instance), would be well received and affirms management’s commitment to decisive execution of its plans," the investment fund said in a letter sent to Toshiba CEO Nobuaki Kurumatani and shown to Reuters.
TOKYO/PARIS (Reuters) - The possible withdrawal of Japanese conglomerates from nuclear export projects in Britain and Turkey would leave the nuclear newbuild industry open to Russian and Chinese state-owned companies as Western private firms struggle to compete. Japanese media reported this month that Mitsubishi Heavy Industries (MHI) was set to scrap the Sinop nuclear project in Turkey as cost estimates had nearly doubled to around 5 trillion yen (34.78 billion pounds). Last week, Hitachi was reported to be considering whether to scrap its 3 trillion yen Horizon nuclear project in Britain as cost estimates had risen, while Toshiba liquidated its UK project this year.
Toshiba Corp has no immediate plans to sell its 40.2 percent stake in Toshiba Memory Corp, its chief executive told Reuters, as the world's No. 2 producer of NAND flash memory chips prepares to go public within the next three years. Toshiba's stake is seen by some analysts as a concern at a time when overcapacity in NAND memory chips, used in smartphones and data storage servers, has pressured prices and forced companies to give a dull near-term outlook. The stake allows Toshiba to account for its former unit in its earnings, without having to further invest in it, CEO Nobuaki Kurumatani said in an interview.
Micron said it expected industry output, including from South Korean rivals Samsung Electronics Co Ltd and SK Hynix , to outstrip demand from the makers of phones, PCs and servers, pushing down Micron chip prices. Samsung had already warned of a slowdown in demand and drop in chip prices, flagging an end to a two-year boom in memory chips as global demand for mobile and other electronics devices wanes and fresh supplies from Hynix and Toshiba Corp hit the market.
Global private equity firm Bain Capital LLC has closed its new Asia-focused fund at $4.65 billion, a person with direct knowledge said on Tuesday, exceeding its target and adding to the region's already record-high dry powder. Bain Capital raised $4 billion from external investors, or limited partners, and $650 million from itself and related parties, the person said on condition of anonymity as the information is confidential. Bain's new pan-Asia fund, its fourth and biggest to date, is still petite versus some of its global and regional peers.
TOKYO/ZURICH (Reuters) - ABB (ABBN.S) will sell a majority stake in its Power Grids division to Japan's Hitachi and return the proceeds to shareholders, bowing to pressure from an activist investor to sell the business that makes transformers and converters. The acquisition, which values the unit at $11 billion (8.7 billion pounds), will see Hitachi become one of the largest players in the power grid industry.
The head of the state-backed $18 billion Japan Investment Corp (JIC), Masaaki Tanaka, said on Monday he and eight other board members would resign citing distrust of the trade ministry after a dispute over their pay. An official at the Ministry of Economy, Trade and Industry, which oversees the JIC, last week criticised what it sees as excessive pay demands by Tanaka and other top management and said trust between the ministry and the JIC had been damaged. The dispute highlights the difference in perceptions between the JIC and the government over the fund's mission.
Moody's Investors Service has assigned a first-time Ba2 corporate family rating (CFR) to ENN Ecological Holdings Co., Ltd. "ENN Ecological's Ba2 CFR reflects the favorable industry trends for its methanol production and clean energy related businesses, its long track record, and its diversified business portfolio," says Chenyi Lu, a Moody's Vice President and Senior Credit Officer. ENN Ecological benefits from favorable industry trends given its focus on expanding its methanol production and clean energy related businesses, namely energy construction and liquefied natural gas (LNG) production.
Nissan Motor Co’s former representative director Greg Kelly denies allegations of financial misconduct at the automaker, his lawyer said on Thursday. Kelly and former Nissan Chairman Carlos Ghosn were arrested on Nov. 19 on suspicion of falsifying the Japanese firm's annual reports to understate Ghosn's remuneration over several years, rocking Nissan's alliance with Renault (RENA.PA). "There was no additional compensation that needed to be stated" in the annual reports, the lawyer, Yoichi Kitamura, told Reuters.
Nissan Motor Co Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a leader hailed for rescuing the Japanese carmaker from close to bankruptcy. Ghosn is also chairman and chief executive of Nissan's French partner Renault (RENA.PA) and his departure will raise questions about the future of the alliance. Nissan said an internal investigation, triggered by a tip-off from a whistleblower, had revealed that Ghosn engaged in wrongdoing including personal use of company money and under-reporting for years how much he was earning.
Q2 2019 Toshiba Corp Earnings Q&A and Discussion of Toshiba’s Next Plan for Corporate Transformation For Analysts