Murakami Fund wants Matsuzakaya to fire employees, close stores
February 2, 2006An investment fund led by financier Yoshiaki Murakami has urged department store operator Matsuzakaya Co. to review its business plan by firing all full-time employees and shutting down some of its stores, Matsuzakaya officials said Thursday. The proposal is ''absolutely unthinkable and goes against any common sense,'' a senior Matsuzakaya official said.
Nikkei hits new 5-year high on Wall St. gains, yen's fall
February 2, 2006Japan's key Nikkei stock average rose sharply Thursday, boosted by overnight gains on Wall Street and the U.S. dollar's rise to the 118 yen level. The 225-issue Nikkei Stock Average rose 230.46 points, or 1.40 percent, to 16,710.55, its highest closing since Sept. 1, 2000.