*http://www.nhk.or.jp/daily/english/index.html
** Japanese firms feel threat of new takeover rules* A survey shows that nearly 40 percent of Japanese manufacturers feel threatened by a new system facilitating acquisitions of Japanese companies by foreign investors. The new system, which went into effect last May, is designed to let foreign companies take over Japanese enterprises more easily by using their parent companies' shares. The state-backed Development Bank of Japan asked about 1,400 Japanese firms with capitalization of more than 1 billion yen, or 8.4 million US dollars, about the system. 29 percent of them said the system poses a threat to them as acquisitions will be more likely. In particular, 39 percent of manufacturers said the new system is a threat. Asked about takeover prevention measures, cross-holding of shares with other companies topped the list with 61 percent, followed by buying their own shares to reduce the number of stocks circulating on the market at 35 percent. The bank says companies which are internationally competitive through technology, including steel and chemical firms, have a greater sense of crisis than those in other industries. [Non-text portions of this message have been removed]
