News Headline Summary

As a reminder Japanese markets are closed today for Labour Thanksgiving day, however there are a couple of stories of note...

Liberal Democratic Party leader Abe, whose intense calls for drastic monetary easing have talked down the JPY, said that currency interventions are to drive the Japanese currency lower are not on his mind and have been ineffective. (WSJ)

Sharp (6753 JT)
- A senior executive said that a lack of earnings stability is hampering its negotiations for a capital alliance with Hon Hai Precision Industry of Taiwan, adding that the Japanese electronics company is open to making concessions because the original agreement is no longer feasible.

OJI Holdings (3861 JT)
- Co is to cut 2,000 jobs, according to Nikkei.

Canon (7751 JT), Fujifilm (4901 JT), Nikon (7731 JT), Olympus (7733 JT), Panasonic (6752 JT),Sony (6758 JT)
- Japan's six largest digital camera makers with 73% of the global market last fiscal year, cut combined outlook for current fiscal year to 94.2mln units from 104.7mln target set in August. (Nikkei)

Panasonic (6752 JT)
- Fitch cuts Co. to speculative grade, from 'BBB-' to 'BB', outlook negative and this downgrade reflects weakened competitiveness.

Sony (6758 JT)
- Fitch cuts Co. to speculative grade, from 'BBB-' to 'BB-', outlook negative and cites continuing weakness in digital AV business for Sony rating cut.

23 Nov 2012 - 07:15 - - Source: RANsquawk

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