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Prudential Set to Pick Up Japanese Life Insurer

Posted on: Wednesday, 22 September 2004, 06:00 CDT

US INSURER Prudential said it would buy Japan's Aoba Life Insurance for 20 billion yen (Pounds 99 million) to expand its presence in the country and cut costs. Aoba, set up in June 1997 to take over operations of the failed Nissan Life Insurance, has been owned by a unit of Artemis, holding company of French retail magnate FranAois Pinault, since November 1999.

Ericsson sees operating margins in 'high teens'

SWEDISH telecom equipment giant Ericsson said today that it expects to see operating margins in the "high teens" in the coming quarters. From April to June the company generated its best-ever operating margins of 22.8%. "We believe they should at least be sustainable in the high teens," Chief executive Carl-Henric Svanberg told reporters at an Ericsson media event in Hong Kong.

Mitsubishi seeks partners to revive US financial unit

MITSUBISHI, Japan's only lossmaking carmaker, says it is seeking a partner to revive the finance unit that contributed to its biggest- ever operating loss in North America. Mitsubishi Motors Credit of America is in talks with four finance companies, managing director Osamu Masuko told Bloomberg, but declined to name them.

Cameras click up major profits jump for Casio

JAPAN'S Casio Computer is expected to report a 79% jump in first- half group net profit thanks to strong sales of its core products, according to reports in Tokyo. Net profit could be as much as 9 billion yen (Pounds 44.6 million) in the six months to September on strong sales of digital cameras and watches. Sales are expected to be around 290 billion yen.

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