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Leo Lewis

Tokyo Bureau Chief

Leo Lewis is the Financial Times’ Tokyo bureau chief. Until the August 2024 market turmoil, he wrote award-winning columns and features as Asia Business Editor; and was previously the FT’s Tokyo correspondent, covering financial markets, investment, banking, and a broad sweep of Japanese industry. His experience of Japan and Asia is extensive – before becoming a journalist and working in London for the Independent on Sunday newspaper, he graduated in Oriental Studies. Roles at The Times (of London) included five years as Beijing bureau chief during a period that covered the rise of Xi Jinping.
Email Leo Lewis @urbandirt  on Twitter (link opens in a new browser window)
  • Tuesday, 10 September, 2024
    Nippon Steel
    Nippon Steel flies to Washington for last-gasp push to save US Steel deal

    Biden administration opposes Japanese company’s proposed $15bn takeover, which has become an election issue

    US Steel plant in Clairton, Pennsylvania
  • Monday, 9 September, 2024
    Seven & i Holdings Co Ltd
    Circle K owner still wants ‘friendly’ 7-Eleven deal after $39bn offer rejected

    Shares in Seven & i rise on hopes of improved offer from Canada’s Alimentation Couche-Tard

    People walk past a 7-Eleven convenience store in New York
  • Monday, 9 September, 2024
    Fortress Investment Group LLC
    Fortress to buy Japan’s eccentric Hawaii-themed hot springs resort for $100mn

    Tourist attraction 50km from site of Fukushima nuclear plant includes world’s largest onsen and hula-dancing troupes

    A screenshot from a Spa Resort Hawaiians advertisement video showing three women wearing leis and orange and green dresses, with a water park in the background
  • Friday, 6 September, 2024
    Japan
    Japan faces worst rice shortage in decades

    Empty shelves blamed on government’s policy of limiting production, tourist influx and extreme weather

    A farmer holding cut rice in a Japanese paddy field
  • Friday, 6 September, 2024
    Seven & i Holdings Co Ltd
    7-Eleven owner rejects $39bn cash offer from Couche-Tard

    Japanese company says Canadian rival ‘grossly undervalues’ group with proposal of close to $15 a share

    Circle K and 7-Eleven stores in Hong Kong
  • Thursday, 5 September, 2024
    Seven & i Holdings Co Ltd
    7-Eleven owner set to reject Couche-Tard takeover offer

    Special committee reviewing the bid views the offer as insufficient and is concerned about regulatory risk

    The Seven & i Holdings logo is seen on the glass door of a 7-Eleven convenience store in Tokyo, Japan. Through the door, a person inside the store is visible, looking at their smartphone.
  • Tuesday, 3 September, 2024
    Blackstone Group LP
    Blackstone set to acquire Australian data centre business AirTrunk

    World’s largest private equity group bets on growth of artificial intelligence in Asia-Pacific region

    Signage of the Blackstone headquarters in New York with the company name "Blackstone" prominently displayed on a black background.
  • Monday, 2 September, 2024
    The Big Read
    The takeover fight that could reshape Japan

    Couche-Tard’s approach to the owner of 7-Eleven could kick-start a wave of M&A activity in a country that has tended to avoid it

    Montage image of a $100 bill, a cityscape and the Seven & i logo
  • Saturday, 31 August, 2024
    Mergers & Acquisitions
    Seven & i shareholders set deadline for status briefing on takeover bid

    Artisan Partners want an update on negotiations after Couche-Tard’s unsolicited approach

  • Friday, 30 August, 2024
    Japanese society
    Japan woos military recruits with bigger steaks and better beds

    Military tries to reverse recruitment shortfall as population shrinks and ages

    Soldiers at an army garrison on the northern Japanese island of Hokkaido
  • Thursday, 29 August, 2024
    Japanese business & finance
    Japan must slay its start-up zombies

    The country needs to confront what it actually means to have a working capitalist metabolism

    María Hergueta illustration of a zombie hand coming out of an abandoned office desk covered with cobwebs
  • Tuesday, 27 August, 2024
    Seven & i Holdings Co Ltd
    7-Eleven’s Japanese owner explores protected status to thwart foreign bid

    Internal talks on blocking takeover attempt by Canada’s Couche-Tard comes despite official moves to look at best value for investors

    A woman walks past a large Seven & i Holdings sign outside a 7-Eleven convenience store on a street in central Tokyo, with buildings and bicycles in the background.
  • Tuesday, 27 August, 2024
    Japanese politics & policy
    Japan says China’s airspace incursion ‘totally unacceptable’

    Tokyo says two-minute incident was first involving Chinese military plane and marked a threat to national security

    Yoshimasa Hayashi, Japan's chief cabinet secretary, speaks during a press conference at the prime minister’s office in Tokyo on Tuesday
  • Friday, 23 August, 2024
    Kioxia
    Japanese chipmaker Kioxia files for Tokyo’s biggest IPO of the year

    Memory products maker could achieve $10bn valuation as investors pile into AI and chip stocks

    Various Kioxia memory card products are displayed, including the Exceria, Exceria Plus and Exceria Pro series
  • Friday, 23 August, 2024
    Seven & i Holdings Co Ltd
    Private equity firms see opportunity in Canadian bid for 7-Eleven owner

    Groups look for ways to take part in deal for Japanese convenience store company

    A woman walks past a large Seven & i Holdings sign outside a 7-Eleven convenience store along a street in central Tokyo. The scene features a blurred motion of the woman, suggesting she is in a hurry, with bicycles and buildings in the background.
  • Friday, 23 August, 2024
    Bank of Japan
    Bank of Japan governor warns global markets are ‘unstable’

    Parliament told there will be no change to central bank’s basic stance on monetary easing

    Bank of Japan governor Kazuo Ueda, right, speaks at a microphone with raised hands in front of the House of Representatives Finance and Financial Services Committee. Japan's finance minister Shunichi Suzuki looks on, seated beside him. The meeting took place at the parliament in Tokyo on August 23. Several other individuals are visible in the background, listening attentively.
  • Thursday, 22 August, 2024
    Mergers & Acquisitions
    After 7-Eleven, Japan’s M&A scene may never be the same again

    Lawyers, bankers and PE fund supremos say the stage is set for a wave of smaller-scale, exploratory unsolicited takeovers

    María Hergueta illustration of a shopper carrying in a shopping trolley the logo sign of 7-Eleven.
  • Tuesday, 20 August, 2024
    Seven & i Holdings Co Ltd
    Canadian bid for 7-Eleven owner likely to face US antitrust scrutiny

    Tie-up between Couche-Tard and Japan’s Seven & i would create one of America’s largest retail chains

    A Circle K store
  • Monday, 19 August, 2024
    Seven & i Holdings Co Ltd
    Canadian group targets 7-Eleven owner in Japan’s biggest foreign takeover approach

    Seven & i shares jump 22% after ‘friendly’ proposal from convenience store rival Couche-Tard

    A 7-Eleven store
  • Friday, 16 August, 2024
    Equities
    Asian stocks rally as fears of US recession recede

    Regional indices follow Wall Street higher with Japan’s benchmark Topix rising 3%

    A picture of a globe with stocks going up
  • Wednesday, 14 August, 2024
    Japanese politics & policy
    Never a zealot, Fumio Kishida showed a surprising fearlessness

    The outgoing prime minister steered Japan through its most life-altering three-year period since the 1980s bubble

    Illustration of a man in a black suit walking away from the red sun on a white background of the Japanese flag
  • Wednesday, 14 August, 2024
    Japanese politics & policy
    Japanese prime minister Fumio Kishida to step down

    Premier will not contest Liberal Democratic party leadership election in September

    Japanese Prime Minister Fumio Kishida
  • Friday, 9 August, 2024
    Markets
    US stocks end rollercoaster week back where they started

    Global equities claw back bulk of losses from Monday’s sharp sell-off but mood remains cautious

    A trader works on the floor of the New York Stock Exchange
  • Friday, 9 August, 2024
    The Big Read
    The meaning of the market sell-off

    This week’s rout signals the end of post-pandemic stability and the beginning of a new period of unpredictability

    Montage of images of a trader seen from behind looking at his screen, a Japanse flag, the Nvidia logo and bar chart lines
  • Friday, 9 August, 2024
    Japan
    Japanese prime minister cancels trip over major earthquake warning

    Meteorological agency issues first-ever alert on potential quake

    A collapsed house
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