Idemitsu Kosan to go public Oct. 24
September 19, 2006Idemitsu Kosan Co. will go public on Oct. 24 in the second largest initial public offering in Japan this year as the Tokyo Stock Exchange authorized the major Japanese oil refiner's listing application Tuesday. Idemitsu is expected to offer up to 120.4 billion yen through the issuance of 11,521,000 new shares and secondary sales of up 1,157,500 outstanding shares, the second biggest IPO of 2006 after 131.2 billion yen to be marketed by Nomura Real Estate Holdings Inc. due to debut on the TSE on Oct. 3.
Toyota launches flagship LS sedan for Lexus brand in Japan
September 19, 2006Toyota Motor Corp. on Tuesday launched the flagship sedan for its Lexus premium brand, aiming to catch up with German rivals and grab a bigger share of the luxury car market in Japan. In contrast to its huge success in the United States, sales of Lexus models have been slow in Japan since the brand's launch here almost one year ago, despite signs of a pickup in the world's second-largest economy.