Japan

Aiful Corp., the consumer lender brought to the edge of bankruptcy a decade ago, is on the verge of selling Japan’s first yen-denominated junk bond in the public markets, showing how local investors are willing to take on more risks as negative interest rates linger, Bloomberg News reported. The issuance would be a milestone in Japan’s bond market, where companies haven’t felt compelled to sell speculative-grade notes as they’ve traditionally had close ties with banks, who can be more forgiving than bondholders in tough times.

India’s debt-ridden Infrastructure Leasing and Financial Services (IL&FS) said on Sunday that Japan’s Orix Corp has expressed an interest in buying out the remaining 51% stake in IL&FS’s wind energy assets, Reuters reported. Orix Corp plans to buy the stake to exercise its right under the terms of an existing agreement that allows Orix to match the price offered by the highest bidder for buying a stake in the wind power plants, IL&FS said.

With more than $140 billion in debt and a junk-level credit rating, SoftBank Group Corp. might not look like an obvious candidate for more borrowing. Yet bankers say they are still eager to lend to the world’s largest technology investor, The Wall Street Journal reported. One reason is the big fees a relationship with SoftBank can bring in—especially the hundreds of millions of dollars in investment-banking fees generated each year by Chief Executive Masayoshi Son’s constant stream of deals.

SoftBank Group Corp. is in talks to invest about $230 million in Brazilian online lender Creditas as the firm expands investments in Latin America, according to people familiar with the matter, Bloomberg News reported. SoftBank is planning to do the deal via a joint investment from its Vision Fund and newly created Innovation Fund, according to the people, who asked not to be identified as the details aren’t public. No final decisions have been made, and SoftBank may still decide against the transaction, they said. SoftBank and Creditas declined to comment.

Police raided on Thursday offices of Japan Life Co, a bankrupt company suspected of having engaged in a fraudulent rental business, for allegedly failing to inform a customer in 2017 about its excessive debts when concluding a contract, an investigative source said, Japan Today reported. The police searched some 30 places in Tokyo and 11 other prefectures in connection with the case. The company went under in March 2018, with debts estimated at 240.5 billion yen as of March 2017, according to a credit research firm.

Nissan said on Wednesday that it expected its annual profit to be much lower than expected, a fresh blow to a company reeling from the arrest of its former top executive Carlos Ghosn, the International New York Times reported. The automaker told investors that its operating profit for the 2018 fiscal year, which ended in March, was expected to be 45 percent lower than the previous year, at 318 billion yen ($2.8 billion). It was Nissan’s second downward revision in two months, highlighting the difficulties it faces as it moves past the fall of Mr.

Japanese prosecutors on Monday formally charged Carlos Ghosn, the former head of the Nissan-Renault auto alliance, with breach of trust, piling a new count of financial impropriety onto his existing charges in a move that adds pressure on him and ensures he remains jailed, the International New York Times reported. Mr. Ghosn, who continues to maintain he is innocent, has been in a detention center on the outskirts of Tokyo since April 4, when prosecutors swarmed into his apartment in an early morning raid.

Nissan Motor Co is considering claiming damages against ousted boss Carlos Ghosn over alleged financial misconduct, the automaker's chief executive told shareholders on Monday, adding the scandal would not be fixed overnight. Hiroto Saikawa made the comments at an extraordinary shareholders' meeting in Tokyo, where Ghosn was expected to be voted out as a director, the International New York Times reported on a Reuters story.

Nomura Holdings Inc. is embarking on yet another sweeping overhaul of its international business, as it cuts $1 billion of costs and fires dozens of employees in its struggling global trading operations, Bloomberg News reported. Japan’s largest securities firm will cull about 150 jobs across the Americas and Europe, the Middle East and Africa on top of reductions in Hong Kong and Singapore as part of the overhaul, people with knowledge of the matter said.

Carlos Ghosn, the former Nissan Motor chairman facing charges of financial wrongdoing in Japan, was released on bail on Wednesday after being held in a Tokyo jail since late November, the International New York Times reported. A judge approved Mr. Ghosn’s release on bail of 1 billion yen, or almost $9 million, on Tuesday, and rejected an appeal by prosecutors to keep him detained until trial. Mr. Ghosn paid in cash on Wednesday and walked out surrounded by police guards in the late afternoon. Mr.