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Nippon Life Insurance Co

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BUSINESS
January 6, 1990 | From Associated Press
American Express Co. said Friday that it will receive a $200-million cash infusion from Nippon Life Insurance Co., strengthening an alliance between the two financial services giants that began more than two years ago. Under terms of their agreement, Nippon will purchase American Express exchangeable preferred shares, which can be converted at any time to American Express common stock at a share price of $42.50.
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BUSINESS
August 8, 1995 | GEOFF BOUCHER
FHP International Corp. said Monday it has been selected to offer managed health-care benefits to more than 1,650 Japanese companies headquartered in California. FHP, a pioneer HMO that has undergone organizational upheavals in recent weeks, said it will be the first HMO offered through NLI Insurance Agency Inc., a subsidiary of the 106-year-old Nippon Life Insurance Agency Inc.
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CALIFORNIA | LOCAL
November 17, 1988 | VICTOR MERINA, Times Staff Writer
Called the first such foreign deal by a local government body, Los Angeles County officials signed an agreement this week to borrow the equivalent of $100 million in yen from two private lenders in Japan, county officials reported Wednesday. "This is our first borrowing in a foreign market and the first state or local government borrowing of this nature," county Chief Administrative Officer Richard B. Dixon said.
BUSINESS
January 6, 1990 | From Associated Press
American Express Co. said Friday that it will receive a $200-million cash infusion from Nippon Life Insurance Co., strengthening an alliance between the two financial services giants that began more than two years ago. Under terms of their agreement, Nippon will purchase American Express exchangeable preferred shares, which can be converted at any time to American Express common stock at a share price of $42.50.
BUSINESS
August 8, 1995 | GEOFF BOUCHER
FHP International Corp. said Monday it has been selected to offer managed health-care benefits to more than 1,650 Japanese companies headquartered in California. FHP, a pioneer HMO that has undergone organizational upheavals in recent weeks, said it will be the first HMO offered through NLI Insurance Agency Inc., a subsidiary of the 106-year-old Nippon Life Insurance Agency Inc.
BUSINESS
October 23, 1989 | From Reuters
Nippon Life Insurance, Japan's largest life insurer, said Friday that it had agreed to buy an 80% stake in the Paine Webber Building, a midtown Manhattan landmark, for $550 million. Equitable Life Assurance Society will hold the other 20% and continue to manage the 38-story building on the Avenue of the Americas, a Nippon Life spokesman said. Nippon has invested in five other U.S. buildings in cooperation with Equitable.
BUSINESS
November 30, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Battered by market weakness and its own blunders, Shearson Lehman Hutton announced Wednesday a reorganization that will demote Jeffrey B. Lane, the investment firm's current president and chief operating officer, and elevate a cadre of younger executives. The regrouping apparently makes Richard S. Fuld, 43, the leading candidate to eventually become Shearson's next president.
BUSINESS
May 12, 2009 | Times Wire Reports
Embattled insurer American International Group Inc. said it was selling its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion in cash. The transaction, which would be among the biggest divestitures New York-based AIG has made to reimburse the U.S. government for its massive infusion of aid, is expected to close in the second quarter.
BUSINESS
May 15, 1987
American Express Co. reported proceeds of $580 million from the initial public offering of 18 million shares in its Shearson Lehman Bros. Holdings Inc. investment subsidiary. The firm earlier had sold 13 million shares of cumulative preferred stock in Shearson to Nippon Life Insurance Co. for $508.3 million, so proceeds from the sales totaled nearly $1.9 billion.
BUSINESS
August 3, 1989 | JAMES BATES
A top Bank of Tokyo executive has been named chairman of Union Bank, effective Sept. 27. Jiro Ishizaka, 61, also was elected to the board of the San Francisco bank, effective immediately. Ishizaka most recently was an adviser to the president of Bank of Tokyo, Minoru Inouye. Union Bank is 77% owned by Bank of Tokyo. Ishizaka's office will be in Los Angeles, the bank said. Ishizaka replaces Tamotsu Yamaguchi, who will continue serving as a Union Bank director.
BUSINESS
November 30, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Battered by market weakness and its own blunders, Shearson Lehman Hutton announced Wednesday a reorganization that will demote Jeffrey B. Lane, the investment firm's current president and chief operating officer, and elevate a cadre of younger executives. The regrouping apparently makes Richard S. Fuld, 43, the leading candidate to eventually become Shearson's next president.
BUSINESS
October 23, 1989 | From Reuters
Nippon Life Insurance, Japan's largest life insurer, said Friday that it had agreed to buy an 80% stake in the Paine Webber Building, a midtown Manhattan landmark, for $550 million. Equitable Life Assurance Society will hold the other 20% and continue to manage the 38-story building on the Avenue of the Americas, a Nippon Life spokesman said. Nippon has invested in five other U.S. buildings in cooperation with Equitable.
CALIFORNIA | LOCAL
November 17, 1988 | VICTOR MERINA, Times Staff Writer
Called the first such foreign deal by a local government body, Los Angeles County officials signed an agreement this week to borrow the equivalent of $100 million in yen from two private lenders in Japan, county officials reported Wednesday. "This is our first borrowing in a foreign market and the first state or local government borrowing of this nature," county Chief Administrative Officer Richard B. Dixon said.
BUSINESS
April 17, 1987
American Express said its first-quarter profit fell by 21% from the same period in 1986, partly because of a $140-million gain last year from its sale of Warner Amex Cable Communications. The company's travel-related services posted a 17% increase in first-quarter net income, with higher charge card volume, up 17%, and travelers check sales, up 19%, contributing to the gain.
BUSINESS
November 24, 1989 | From Reuters
Japanese investors are expected to buy a large stake in France's Forum des Halles shopping center, a thriving new complex that is as much a part of the Paris cityscape as the Japanese-owned Rockefeller Center is to New York's skyline. France's Credit Lyonnais bank is about to clinch a deal to sell Nippon Life Insurance Co. nearly a third of the shopping center for $68 million, bank sources said today. In Tokyo, a Nippon spokesman declined to comment on reports of the deal.
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