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BUSINESS
July 13, 2000 | From Associated Press
A failing Japanese retailer filed for bankruptcy protection Wednesday, rejecting a government-backed bailout offer after a public outcry. Sogo Co. asked the Tokyo district court for protection from creditors after racking up debts totaling about $17.4 billion, the company said. The announcement comes just two weeks after the Deposit Insurance Corp., a government-affiliated financial institution and one of the country's largest banks, said it would forgive $4.
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BUSINESS
July 13, 2000 | From Associated Press
A failing Japanese retailer filed for bankruptcy protection Wednesday, rejecting a government-backed bailout offer after a public outcry. Sogo Co. asked the Tokyo district court for protection from creditors after racking up debts totaling about $17.4 billion, the company said. The announcement comes just two weeks after the Deposit Insurance Corp., a government-affiliated financial institution and one of the country's largest banks, said it would forgive $4.
BUSINESS
June 5, 1990 | TOM FURLONG, TIMES STAFF WRITER
Two Japanese companies have agreed to acquire a majority stake in a shopping mall being built at Rodeo Drive and Wilshire Boulevard in Beverly Hills, one of Southern California's best-known intersections, it was announced Monday. The exact price for the 135,000-square-foot complex, known as Two Rodeo Drive, was not revealed. But the sellers said the amount was "well over $200 million," a high price for retail space even by Beverly Hills standards.
BUSINESS
June 5, 1990 | TOM FURLONG, TIMES STAFF WRITER
Two Japanese companies have agreed to acquire a majority stake in a shopping mall being built at Rodeo Drive and Wilshire Boulevard in Beverly Hills, one of Southern California's best-known intersections, it was announced Monday. The exact price for the 135,000-square-foot complex, known as Two Rodeo Drive, was not revealed. But the sellers said the amount was "well over $200 million," a high price for retail space even by Beverly Hills standards.
BUSINESS
July 25, 2000 | Bloomberg News; Times Staff
Whatever is bugging U.S. tech investors, it's bothering Japanese and South Korean tech investors a lot more. While the U.S. Nasdaq composite index fell Monday to its lowest since July 11, selling in Japanese tech shares pulled the Nikkei-225 index down 1.6% to 16,547.12, its lowest since June 16. On the Tokyo Stock Exchange's first section, declining shares overwhelmed advancers 1,089 to 235. South Korea's main share index plunged 5.8% to 737.
BUSINESS
December 27, 2005 | From Times Wire Services
Seven & I Holdings Co., owner of 7-Eleven convenience stores in Japan and the United States, said Monday that it would buy department store operator Millennium Retailing Inc. in a cash-and-stock deal that would create Japan's largest retailer. Tokyo-based Seven & I aims to jump-start its growth with department stores that have been benefiting from improvement in Japan's economy, though the outlook for general merchandise and convenience stores remains gloomy because of market saturation.
BUSINESS
July 31, 2000 | MARK MAGNIER, TIMES STAFF WRITER
The resignation of the nation's top bank regulator Sunday over a payoff scandal threatens to further undermine Japanese government credibility at a time when its economy, political system and stock market are all on shaky legs. Prime Minister Yoshiro Mori effectively dismissed Kimitaka Kuze, chairman of the Financial Reconstruction Commission, over allegations that he received office space in the early 1990s worth $550,000 from Mitsubishi Trust & Banking Corp.
BUSINESS
August 11, 2000 | JESUS SANCHEZ, TIMES STAFF WRITER
Suffering a steep loss, the Japanese owners of Two Rodeo--a Beverly Hills shopping center that is home to Tiffany, Cartier and other luxury retailers--have sold the complex to a European family trust for $131 million. Despite the sharp rebound in Westside real estate values since the 1990s recession, the sale of Two Rodeo represents a $70-million loss for partners Kowa Real Estate Investment Co. and Sogo Co.
BUSINESS
June 24, 1996 | From Bloomberg Business News
It's about time the Japanese woke up to the persistent hold organized crime has over corporate Japan, said Raisuke Miyawaki, a former police official who has continued his campaign against gangs. Police revealed this month that the country's oldest and most prestigious department store, Takashimaya Co., had been paying thugs linked to organized crime for years to keep shareholders' meetings smooth and short.
BUSINESS
May 14, 2000 | MARK MAGNIER, TIMES STAFF WRITER
Foreign investors have spent years playing a fiscal version of "Where's Waldo?" searching for bad real estate deals and other debt bombs buried deep inside Japanese companies. Now they are finally getting help in their bid to expose this often dark, fetid area of Japan's economy. And if the early disclosures are any indication, Japan's day of corporate reckoning will be ugly.
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