PRE-MARKET JAPAN AND SOUTH KOREAN STOCKS NEWS: Seven & i Holdings (3382 JT) is looking to expand its 7-Eleven convenience store business into Europe following its exit from India
The briefing reports Seven & i's prospective European expansion and other Japanese and South Korean corporate developments, cross-shareholding sales, and geopolitical statements.
News detail
JAPAN Fujitsu (6702 JT) - Co. signed an MoU with the US state of New Mexico to establish a quantum computing research centre and develop specialised talent. (Nikkei) Honda Motor (7267 JT) - Co. plans to sell a rebadged version of Mitsubishi Motors' (7211 JT) Thai-built Triton pickup truck under its own brand in Southeast Asia. (Nikkei) Kirin Holdings (2503 JT) - Co.'s Kirin Brewery has licensed South Korea's HiteJinro to produce its flagship Ichiban Shibori beer domestically, marking the first such agreement with an Asian brewer without capital ties. (Nikkei) Omron (6645 JT) - Co. is reportedly set to acquire US computer maker OnLogic as early as January for approximately JPY 100bln. (Nikkei) Seven & i Holdings (3382 JT) - Co. is looking to expand its 7-Eleven convenience store business into Europe following its exit from India, targeting the region as a fourth growth pillar alongside Japan, North America and Asia. (Nikkei) TDK (6762 JT) - Co. is reportedly considering selling its HDD magnetic head business and has entered talks with Toshiba and Seagate Technology (STX), although regulatory approval remains uncertain. (Nikkei) Toyota Motor (7203 JT) - Co. has introduced low-cost auto financing in Thailand to compete with cheaper Chinese EVs, while Co.-backed Hertha Metals has broken ground on a Texas plant to produce materials for high-performance rare-earth magnets and reduce US reliance on China. (Nikkei) Other News Japan's listed companies sold JPY 8.89trln (USD 56.2bln) in cross-shareholdings in the fiscal year ended March, the second-highest amount on record, as companies seek to improve asset performance. (Nikkei) SOUTH KOREA Hanwha Aerospace (012450 KS) - Co.'s US subsidiary Hanwha Defense USA has delivered its first Mobile Tactical Cannon (MTC) howitzer system to the US Army as part of efforts to replace ageing artillery systems. (Yonhap) Lotte Shopping (023530 KS) - Co. will introduce a shareholder benefit programme next month, offering discount coupons and points redeemable at its stores, becoming the first major South Korean conglomerate to implement such a scheme. (ChosunBiz) Shinsegae (004170 KS) - Co.'s Shinsegae Factory Store will hold its largest annual sale, Factory Day, from October 15th to 18th across 23 locations nationwide. (ChosunBiz) Geopolitical US President Trump said he may meet North Korean leader Kim Jong-un during his upcoming trip to Asia, raising the possibility of renewed summit diplomacy between Washington and Pyongyang. (Yonhap) South Korea's top envoy to the US said progress has been made in improving intelligence cooperation between Seoul and Washington amid concerns over friction between the two allies. (Yonhap)
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