News Mix

Back to Contents of Issue: November 2002















* eBank to Start Money Transfer via Email
 Internet bank eBank has just started a new service allowing customers to transfer money via email accounts. The sender is now able to send money to the receiver by simply punching in his email account. Both the sender and the receiver need to register their email accounts in advance. Initially, the service will be limited to those who have an account with eBank, but the company will expand the service to money transfers to other banks' accounts.

* Tokyo Cheapest When It Comes to Broadband
Tokyo offers the cheapest broadband connections among major international cities, according to the Ministry of Public Management, Home Affairs, Posts and Telecommunications. For example, Flets ADSL in Tokyo charges JPY4,850 per month while Verizon Communications (Verizon Online DSL) in New York charges about JPY5,979 and BT Broadband charges JPY4,477 in London. Prices for cable TV Internet connections in Tokyo are also cheaper than in New York, London and Paris. But when it comes to cellular phone prices, Tokyo is the most expensive of all.

* Mitsubishi Corp. to Launch a Buyout Fund in the US
 There was a time when foreign buyout funds were called vultures, buying up what was left of ailing "Japan Inc." Over the past few years, the buyout business has become more common in Japan and there are now many Japanese buyout funds buying up Japanese firms. But major trading house Mitsubishi Corp. will launch a buyout business in the US. The company says it will establish a $150 million fund, Red Diamond Capital Partners, to buy small- to medium-size firms with annual sales of $30 million to $300 million. The Japanese media reported that the fund's focus will be "old economy" related businesses such as machinery and food makers. With Mitsubishi planning to buy ailing US firms, Japanese firms may become more active in the corporate revitalization business in the US.

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