Word: nippon
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...Four of the world's top securities firms and seven of the ten largest commercial banks are now Japanese, and they are moving in a big way onto the American monetary scene. Last year Sumitomo Bank paid $500 million for 12.5% of the Goldman, Sachs investment firm. In March Nippon Life Insurance bought 13% of the Shearson Lehman Bros. brokerage house for $538 million. Just last week ailing BankAmerica confirmed it will sell $350 million worth of securities to Japanese financial companies...
...where four of the top ten banks are now Japanese owned: California First Bank, Sanwa Bank, Bank of California and Sumitomo Bank of California. On Wall Street, Japan's Sumitomo Bank shelled out $500 million for a 12.5% share of profits in the Goldman, Sachs investment-banking firm, while Nippon Life Insurance paid $538 million for a 13% slice of Shearson Lehman...
...Toshiyuki Nakamura, who was president of Japan's third largest paintmaker, Dai Nippon Toryo, was meeting in March with other executives in his office when he suddenly put his hand to his chest and fell from his chair, dead of a heart attack at 62. Nakamura had been trying to engineer a recovery for the company, which had plunged heavily into debt...
...Kosuke Asano, 63, president of Nippon Light Metal, felt fit enough to walk 20 minutes to his office each morning from a train station. But after returning home from work one day in March, he died of a stroke. His company, Japan's largest aluminum producer, had been battered by cheap imports and was desperately trying to diversify into consumer products like ice cream-making machines...
Running a large corporation in the hard-driving Japanese economy has always been a tough job, but these days it may be a fatal one as well. The chief executives of at least twelve major companies, including Seiko Epson, Kawasaki Steel and All Nippon Airways, have all died suddenly this year. The unusually high toll in executive suites -- there were only a third as many comparable deaths in all of 1986 -- is as mysterious as it is macabre. Most victims have been in their 50s and 60s, too young to die in a country where the average male life expectancy...