Two paths to entering Japanese equity market
Article Abstract:
Japan has made it easier for US corporations to enter its yen- and dollar-denominated bond markets, as well as its equity markets. Some US firms are listing on the Tokyo Stock Exchange, while Japanese investors are interested in purchasing US companies' securities. Japanese companies can legally invest up to 30 percent of their total assets in foreign entities. US stocks are cheaper than Japanese securities, partially as a result of the falling dollar in relation to the yen. US companies interested in attracting Japanese investors should first prepare a presentation through an investment banker with Japanese contacts to determine whether the stocks or securities will generate interest on Japan's equity market. The next step might be listing on the Tokyo exchange. The Japanese Ministry of Finance is waiving listing requirements for many US firms.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1987
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Insurance companies offer a steady source for varied financings
Article Abstract:
Corporations seeking loans may be better off approaching insurance companies instead of banks. Insurance companies can be easier to work with than banks, are more accepting of complicated situations, offer a bigger variety of loan vehicles, and have a non-interfering attitude toward clients once the deal is concluded. Insurance companies are also more able to deal one-on-one with their clients than banks and look for longer term relationships, irrespective of market or interest rate fluctuations. They can also consider smaller deals than banks. CIGNA, New England Life, Prudential, and the Travelers are among the insurance companies offering hybrid financing vehicles for modest deals. The deals are not cheap, however, and the appropriate insurer may be hard to find, since many are now highly specialized.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1988
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Guarantees open public credit markets to shy companies
Article Abstract:
Investors are scrutinizing corporate financing more carefully. Domestic banks are less willing to guarantee financing options for privately held corporations. However, a number of new sources of financial guarantees are available, such as Japanese banks and financial guarantee companies. The advantage of financial guarantees is that they allow closely held corporations to obtain the equivalent of a AAA rating, without having to disclose financial statements to the public or to investment rating firms.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1987
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