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Market Update : 
March Retail Sales in Japan Rise 1.1%
Author: 123jump.com Staff
123jump.com
Last Update: 1:18 PM EDT April 28 2008

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March retail sales in Japan rose 1.1% from a year earlier and added 0.5% form February. Local media report sugeested that Matsushita Electric may take a stake in Sanyo Electric and purchase 300 billion yen of preferred stocks from Goldman Sachs at a discount. Stocks in Japan gained on the speculation that credit market related losses are not likely to rise after UBS upgraded its opinion on U.S. banks. Yahoo Japan fell 10% and led decliners in the Nikkei 225 index.

 
Yahoo Japan Corp. led decliners in the Nikkei 225 index shares with a drop of 9.50% followed by losses in Konami Corp. of 6.35%, in Fujitsu Ltd of 6.32%, in Advantest Corp. of 5.12%, and Terumo Corp. of 4.67%.

Asahi eyes Vietnam beer maker

Japan Today reported today that Asahi Breweries Ltd is considering investing in Vietnam beer maker Saigon Beer-Alcohol-Beverage Corp.

The brewer hopes to acquire a stake of 10% initially and increase it to 20% in the future.
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