Cash Is King For Corporate JapanBy
Japan's corporate barons are probably bemused at Chrysler Corp.'s current predicament. Kirk Kerkorian's $20.5 billion takeover gambit would drain the auto maker's $7.3 billion cash reserves and add $10.7 billion in new debt. Such money grabs are unheard-of in clubby corporate Japan--and so are big shareholders bent on instant gratification. Small wonder: Compared with Chrysler's, the huge cash hoards at Toyota Motor, Matsushita Electric Industrial, and Hitachi are under lock and key.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.