PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Daiichi Life Group (8750 JT) unit's takeover proposal for Challenger (CGF AT) was rejected

JAPAN Daiichi Life Group (8750 JT) - Australian insurer Challenger rejected a takeover proposal from the Co.'s Australian subsidiary TAL, citing an insufficient offer price, but remains open to further discussions. (Nikkei) Rakuten (4755 JT) - Co. travel site was hacked and credit card data was stolen. (Newswires) Subaru (7270 JT) - Co. plans to phase out gasoline-powered vehicle sales in Europe by 2028, transitioning to an EV-only lineup as regulatory costs increase. (Nikkei) Sumitomo Corp. (8053 JT) - Co. aims to expand battery energy storage operations in Japan by applying expertise gained from its UK operations, including the integration of battery storage with electricity trading. (Nikkei) Energy Japanese and German companies plan to collaborate on nuclear fusion technology, including a commercial power plant in Germany during the next decade, with Kyoto Fusioneering seeking to improve equipment and power generation technology. (Nikkei) Other News Japan plans to provide approximately JPY 100bln over four years to support mass production and commercialisation of next-generation flexible perovskite solar cells. (Nikkei) Japanese life insurers, including Meiji Yasuda Life and Daiichi Life, are looking to increase purchases of higher-yielding long-dated JGBs as domestic bond yields rise. (Nikkei) SOUTH KOREA Industrial Bank of Korea (024110 KS) - Co. Q3 (KRW) net rose 2.7% Y/Y to 771.2bln (exp. 774.3bln), operating income rose 5.6% Y/Y to 1.03tln, rev. rose 78.9% Y/Y to 10.47tln. (Yonhap) LIG Defense & Aerospace (079550 KS) - Co.'s CEO denied involvement in bribery allegations linked to weapons procurement bids, after the Defense Acquisition Program Administration barred the Co. from bidding on defence contracts for two years, with the Co. planning legal action to challenge the sanction. (Yonhap)