A Brighter Future For Oracle
Oracle Systems, which has been struggling recently with losses from weak financial controls and a slowing market, has lined up $200 million in much-needed long-term financing from a new Japanese partner. Nippon Steel has agreed to buy preferred stock and debentures that can be converted to a maximum of 9.8% of Oracle's shares. Nippon will also buy a 49% stake in Oracle's Japanese subsidiary. Oracle began a big push into the fast-growing Japanese software market a year ago.
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