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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)
  • Wednesday, 18 September, 2024
    Behind the Money podcast19 min listen
    How a 7-Eleven takeover could reshape corporate Japan

    Companies in Japan have long avoided foreign acquisitions, but that could be changing

    2 hours ago
  • Tuesday, 17 September, 2024
    US-China trade dispute
    US and Japan near deal to curb chip technology exports to China

    Potential agreement comes despite fears Beijing will choke critical minerals supplies in response

    A close-up of a hand with blue gloves holding a chip fabricated in China by Semiconductor Manufacturing International Corp.
  • Sunday, 15 September, 2024
    Global Economy
    Is the Bank of England ready to cut interest rates?

    Market Questions is the FT’s guide to the week ahead

    The Bank of England
  • Thursday, 12 September, 2024
    Japanese business & finance
    Japan has learnt a hard lesson about US friendship

    The Nippon Steel experience has broader ramifications for dealmaking

    María Hergueta illustration of a large blue chain being sawn by a contractor wearing a protective mask
  • Thursday, 12 September, 2024
    News in-depthJapanese politics & policy
    Japan gears up for ‘wild west’ leadership race

    Crowded field to succeed Prime Minister Fumio Kishida as ruling party chief could crown first female or youngest-ever leader

    Montage of Liberal Democratic party leadership candidates. Clockwise from bottom left, Taro Kono, Shinjiro Koizumi, Toshimitsu Motegi, Shigeru Ishiba and Sanae Takaichi
  • Thursday, 12 September, 2024
    Seven & i Holdings Co Ltd
    7-Eleven owner taps Nomura to advise on takeover battle after rejecting $39bn offer

    Circle K parent Alimentation Couche-Tard says it is focused on securing deal with Seven & i

    A Circle K store next to a 7-Eleven in Hong Kong
  • Tuesday, 10 September, 2024
    Seven & i Holdings Co Ltd
    US regulator signals doubts about proposed Circle K and 7-Eleven deal

    Merger of convenience store and petrol station chains would create one of the largest retail groups in America

    Circle K petrol station in Toronto
  • 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
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