Softbank eyeing US Market
After purchasing rival eAccess two weeks ago, Softbank is once again in the headlines. This time they are purchasing a 70% stake in Sprint Nextel for $20 billion – the largest ever overseas acquisition by a Japanese firm.
Japan Shocks France in Soccer Friendly
In a friendly played in Paris on Friday, Japan’s national soccer team (men’s) defeated France 1-0. Though the match has no bearing on World Cup qualifing, it is seen as a major coup for the Japanese side.
Breaking Financial Stories
Finance Minister, Koriki Jojima urged European officials to act quickly in dealing with the recent debt crisis, fearing the impact may cause Japanese GDP growth to slow below 2%. In an unrelated move, Japan’s Financial Services agency plans to subject foreign banks to its deposit insurance system in order to provide more protection for its depositors.