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Japan's CyberAgent Inc. (TYO:4751) plans to establish a 2 billion yen fund by early next year to invest in Internet start-ups, targeting venture businesses with Internet operations on the Chinese mainland, Hong Kong, Taiwan and elsewhere. The online advertising agent will kick in some 500 million yen, with Japanese Internet-related firms and others to contribute the rest. If demand is brisk, the fund could grow to around 4 billion yen.
Japan's CyberAgent Inc. (TYO:4751) plans to establish a 2 billion yen fund by early next year to invest in Internet start-ups, targeting venture businesses with Internet operations on the Chinese mainland, Hong Kong, Taiwan and elsewhere. The online advertising agent will kick in some 500 million yen, with Japanese Internet-related firms and others to contribute the rest. If demand is brisk, the fund could grow to around 4 billion yen.
Sydney, Dec 10, 2009 AEST (ABN Newswire) - Asian investors continued cautious trading on Thursday amid ongoing debt jitters. Most Asian shares reversed to positive territory after some small drops at opening. Yesterday bourses across the region were hit by a series of credit rating downgrade. Japan's Nikkei fell 1.3 per cent, Hong Kong's Hang Seng Index dropped 1.4 per cent, and China's Shanghai Composite was down 1.7 per cent.

Company News

Seven & I Holdings (TYO:3382), Japan's largest retailer, said on Thursday it aims to boost its revenue from China fivefold to about 400 billion yen over five years. The company plans to increase its flagship Seven-Eleven convenience stores in the fast-growing market fivefold to more than 500 outlets within three years.

Tata Motors Ltd. (BOM:500570)(NYSE:TTM), India's largest automaker is in talks to acquire Sumitomo Corp's (TYO:8053) 53.5% stake in Swaraj Mazda Ltd. (BOM:505192), said a media report today. The deal size, including the open offer, may be around Rs 250 crore and an announcement may happen early next year, said the same source.

SK Telecom (SEO:017670)(NYSE:SKM), the South Korea's largest mobile carrier, is likely to spend more than 400 billion won to buy a 49 percent stake in Hana Card, a recently-established credit card unit of Hana Financial Group (SEO:086790). The two firms said the negotiations are still going on and it is still too early to give any details about a deal, including pricing.

Canada based Husky Energy Inc.(TSE:HSE) made a second significant deepwater gas discovery in the South China Sea. China's biggest offshore oil company CNOOC Ltd (HKG:0883) is entitled to hold a 51 percent stake in the production-sharing contract for the discovery. CNOOC said the newly discovered Liuhua 34-2 field, is capable of producing 55 million cubic feet of natural gas per day during test drilling. Husky, controlled by Hong Kong billionaire Li Ka-shing, started exploring in offshore China in 2002.

Taiwan Semiconductor Manufacturing Co. (TPE:2330)(NYSE:TSM) said Wednesday it has agreed to pay US$193 million for a 20% stake in solar-cell maker Motech Industries Inc.(TPO:6244) The deal will make TSMC the largest shareholder in Motech and comes as Taiwanese electronics makers expand into the renewable energy industry.

Japan's CyberAgent Inc. (TYO:4751) plans to establish a 2 billion yen fund by early next year to invest in Internet start-ups, targeting venture businesses with Internet operations on the Chinese mainland, Hong Kong, Taiwan and elsewhere. The online advertising agent will kick in some 500 million yen, with Japanese Internet-related firms and others to contribute the rest. If demand is brisk, the fund could grow to around 4 billion yen.

Related Companies

Tata Motors Limited       
Taiwan Semiconductor Mfg. Co. Ltd.       
Swaraj Mazda Limited       
Sumitomo Corporation       
SK Telecom Company Ltd       
Seven & i Holdings Co., Ltd.       
Motech Industries, Inc.       
Husky Energy Inc       
Hana Financial Group Inc.       
CyberAgent, Inc.       
CNOOC Limited             

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