|Bid||7.10 x 21500|
|Ask||7.15 x 29200|
|Day's Range||7.09 - 7.15|
|52 Week Range||5.29 - 7.95|
|Beta (5Y Monthly)||1.04|
|PE Ratio (TTM)||10.46|
|Forward Dividend & Yield||0.37 (5.15%)|
|Ex-Dividend Date||Sep. 28, 2020|
|1y Target Est||8.76|
(Bloomberg) -- Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc. and Goldman Sachs Group Inc. for its first dollar-denominated Islamic bond sale.The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. Islamic bonds, or sukuk, comply with the religion’s teachings, including its ban on interest.The firm is raising cash to help fund its commitment to pay out $75 billion in
(Bloomberg) -- After 30 years in Japan, former Goldman Sachs vice chair Kathy Matsui, known for research that shifted government policy on women at work, is starting a venture fund that could help put some of her ideas into practice.Matsui, who left Goldman Sachs Group Inc. at the end of 2020, has teamed up with three other experienced female financial executives to build a fund that aims to invest $150 million in sectors including health care, fintech, next-generation work and education, as well as the environment. The MPower Partners Fund, a rarity in Japan for its female leadership, will seek to secure high returns while imbuing startups with environmental, social and governance values, Matsui said.Kuroda Says BOJ Will Mull Climate in Monetary Policy Discussions“Our thesis is that for Japanese startups to really go global and to scale, one of the missing links is actually ESG,” she said in an interview last week. “We believe strongly that integrating ESG into their business strategies, good companies can become great companies and sustainably growing companies of the future.”Credited with coining the term “Womenomics,” Matsui published a series of reports over 20 years detailing the economic benefits of empowering women, as Japan’s labor force ages and shrinks. While former Prime Minister Shinzo Abe espoused her ideas, the country fell well short of a goal of having women in 30% of management positions by 2020, the year he stepped down. Japan ranked 120th in the World Economic Forum’s Gender Gap index for 2021.Japan’s venture investment market has expanded rapidly in recent years, but remains small by comparison with the U.S. and China, Matsui said. The new fund will aim to invest two thirds of its capital in growth to late-stage startups in Japan, she added, with the other third in early-stage startups overseas.The governance part of ESG can be interpreted to include things like ensuring diversity on corporate boards, something Japanese companies have often struggled to achieve. Women made up just 10.7% of board positions on the largest publicly listed companies in Japan in 2020, according to the Organisation for Economic Co-operation and Development, below the OECD average of 26.7%.According to Matsui, a “gap” in funding at the growth stage often prompts Japanese startups to go public on the Mothers section of the Tokyo Stock Exchange prematurely, which can limit their potential. Targeting businesses at this phase is also a chance to influence them more deeply.“Our hypothesis is, rather than try to change the ways of an adult or large company after they’ve gone public, let’s get proper ESG principles and values embedded into these organizations when they’re teenagers or children, before they go public,” Matsui said. “That should set the stage for longer-lasting and deeper integration.”The launch comes at a time of growth for ESG investment in Japan. Assets under management in Japanese ESG exchange-traded funds have risen to about $35 billion, compared with $24 billion at the start of 2020, according to Esther Tsang, an ESG analyst with Bloomberg Intelligence.Yumiko Murakami, previously head of the OECD Tokyo Centre who spent 20 years working for Goldman Sachs and Credit Suisse, is also a partner in the fund. The third partner is Miwa Seki, who had switched to university teaching and translating business best-sellers after a career in portfolio management and investment banking. Eriko Suzuki, who has worked for Morgan Stanley and UBS Securities, serves as managing director.MPower’s lead investors are Dai-ichi Life Insurance Co., Sompo Holdings Inc. and Sumitomo Mitsui Trust Group.Like Matsui, the daughter of a Japanese farmer who became a successful California flower wholesaler, Murakami comes from an entrepreneurial background. Her mother started a chain of pharmacies in rural Shimane prefecture at the age of 48, later selling out to a larger company. It wasn’t easy for a woman to get started decades ago.“My mother, in the countryside of Shimane, housewife, no one would make loans to her -- nobody,” Murakami said of the venture. “I’d like to change that with this fund.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Toshiba Corp. plans to return an additional 150 billion yen ($1.37 billion) to shareholders and establish a strategic review committee to examine options for the business, including proposals to take it private.The move comes after weeks of takeover discussions sparked by private equity firm CVC Capital Partners’ $21 billion acquisition bid. The Japanese energy-to-electronics conglomerate has been pressured by 3D Investment Partners and other investors to conduct a full strategic review and explore any serious interest in the company in order to rebuild shareholder trust.Toshiba, which deemed the CVC proposal insufficiently detailed to evaluate, said Friday it has appointed UBS as financial adviser and will consider potential offers, without committing to a transaction. It made the announcement while releasing its quarterly earnings.Chief Executive Officer Satoshi Tsunakawa, who stepped into the role in April after former CVC dealmaker Nobuaki Kurumatani stepped down, said the firm will do its utmost to improve relationships with a wide range of shareholders and will consider any proposals that improve shareholder value, including going private.“There’s big opportunity ahead of us focusing on infrastructure, energy and renewables -- as tackling global warming is a global trend,” the CEO said, declining to specify what he would consider a good proposal for taking Toshiba private.Read more: Toshiba Investor 3D Calls for Strategic Review After CVC BidThe company’s stock has seen large swings since the CVC bid, with the shares closing as high as 4,895 yen on April 15 before falling in recent weeks. It closed at 4,510 yen after Friday’s announcement.It’s not clear whether other reported bidders will proceed with a formal offer. After CVC’s initial approach, private equity firm KKR & Co. and Canadian investment giant Brookfield Asset Management Inc. began exploring potential offers, Bloomberg News has reported. Bain Capital has entered into discussions with Japanese banks, including units of Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., to secure funding for a potential bid, Reuters has reported.Separately, Toshiba is investigating a claim by the hacker group DarkSide that it breached the computer systems of affiliate Toshiba Tec Corp. The group is claiming to have stolen information on management, new businesses and personal information. General Executive Masaharu Kamo said no other Toshiba units were affected by the cyberattack.Toshiba will provide specifics on how it intends to execute the shareholder return plan in June. It has not yet decided its dividend plan for the year ahead, but will maintain its basic policy and look to increase, it said.(Updates with CEO comments from fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.