Watami Founder Launches 1,284-Yen Buyout to Take Izakaya Chain Private, With Suntory Staying In
Founder Miki Watanabe raised his offer eight times before the board agreed. Suntory, the No. 2 shareholder, will roll its stake into the buyout vehicle.
Business
India Clears Fairfax's Takeover of IDBI Bank in INR 529 Billion Stake Sale
Fairfax will pay INR 81 a share for 60.72% of the lender, but an RBI review, an open offer and a decision on CSB Bank still lie ahead.
PetroChina Profit Rises 21.6%, Sinopec's Jumps 57% Even as China Fuel Sales Fall
China's two biggest refiners made more money from refining while selling less fuel at home. CNOOC's board meets Friday to approve its nine-month results.
Pop Mart Revenue Falls Up to 50% in Third Quarter as Labubu Sales Weaken
Overseas sales shrank by more than half and online sales in China slumped, deepening a slowdown that first showed in the toy maker's interim results.
Banking
Standard Chartered Raises 2026 Outlook as Profit Jumps 27% on Record Wealth Income
Pretax profit far outpaced forecasts as wealth and trading income surged, and the bank now expects a return on tangible equity of about 14% this year.
China's Big Four Banks Lift Third-Quarter Profit Up to 10.8% as Margins Hold Steady
ICBC, China Construction Bank, Agricultural Bank and Bank of China posted their best quarterly growth in years, helped by cheaper deposits and bond gains.
Japan's FSA Inspects Sony Financial as Prudential Sees $1.3 Billion Japan Sales-Ban Hit
Regulators took their probe of Sony Life's cash scandals to its parent, while Prudential said its Japan profit fell 25% as a sales halt dragged on.
NAB Cash Profit Falls 13% as Bad-Debt Charge Nearly Doubles to A$1.55 Billion
A software write-down and bigger provisions for a slowing economy hit National Australia Bank, which joined Westpac in sharply raising its bad-loan charge.
Oil and Gas
CNOOC Third-Quarter Profit Rises Just 2.7% Despite 32% Jump in Realized Oil Price
China's offshore oil producer sold its crude for far more, but lower gas output, higher taxes and rising costs absorbed most of the windfall.
China's Coal Output Falls 6.8% in September as Prices Hit Three-Year Highs Before Winter
Nuclear, wind and solar covered the gap as hydropower slumped, but thin port stocks have pushed thermal coal above 1,000 yuan a ton.
CATL Profit Growth Slows to 14.5% as China Battery Taxes Squeeze Margins, Shares Drop 12%
The world's largest battery maker posted record revenue of 165 billion yuan, but a new consumption tax and a smaller export rebate pushed its gross margin down to 20.69%.
China's Solar Additions Fall 54% Through September Even as Wind and Solar Top 2,000 GW
A September rebound to 13.64 GW offered some relief for panel makers, while thermal plants kept being built at the fastest pace in years.
Earnings
Japan Tobacco Raises Profit Forecast to Record 662 Billion Yen as Ploom Sales Jump
Price increases did most of the work, while heated tobacco volumes rose nearly 40% and Ploom gained share in Japan.
Anta and Li Ning Report Falling Third-Quarter Sales as China's Sportswear Demand Cools
Anta's flagship brand slipped into a mid-single-digit decline and Fila shrank too, while its other labels, including outdoor brands Descente and Kolon Sport, kept growing.
Amorepacific Operating Profit Rises 25% in Third Quarter as Aestura and Korea Sales Climb
Home sales and a derma brand drove the gain, but net profit fell 14.3% on non-operating costs and its Innisfree and Etude unit shrank.
Luckin Profit Jumps 45%, Yum China's 10%, Even as Same-Store Sales Fall Up to 11%
China's top coffee chain and restaurant company are earning fatter margins, but older stores are selling less against last year's subsidy-inflated base.
Japan Take-Privates
Bain and LY Top EQT Again in Kakaku.com Fight as Tender Deadline Nears
The Bain-backed bidder lifted its planned price above EQT's live offer, but it still needs the Tabelog owner's board to change sides.
PAG Agrees to Buy 51% of Evergrande Property Services for HK$4 Billion, Below Market
Evergrande's liquidators agreed to sell the stake after a yearlong auction, and PAG's HK$0.8359-a-share offer for the rest sits below where the shares closed Friday.
India's Affle Agrees to Buy Perion for $420 Million in All-Cash Ad-Tech Deal
The Indian mobile-advertising group is paying a 34.5% premium for the Nasdaq-listed Israeli company, which holds about $228 million in cash and has seen revenue shrink for two years.
Mitsubishi Logistics to Buy Hankyu Hanshin Express for 120 Billion Yen in Freight Push
The Tokyo warehouse operator is buying the Osaka air-freight forwarder from Hankyu Hanshin Holdings, creating what it estimates is Japan's fourth-largest forwarder and lifting its overseas sales share to 31%.
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