Company Briefs: Toshiba

Shares in Toshiba jumped about 7.4 per cent on Thursday, following a report that a domestic-led consortium is looking to buy the Japanese conglomerate for 2.8 trillion yen (S$27.3 billion).

News agency Kyodo reported on Wednesday that a group of companies led by Japan Industrial Partners, a domestic private equity group, had made the bid, which marked a premium of around 26 per cent from Wednesday's closing price.

The group, which includes Chubu Electric Power, had received the right of first refusal in its bid for Toshiba, the Nikkei business daily reported.

REUTERS

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UBS

UBS' Asia-Pacific investment bank head David Chin has resigned to step away from banking, five years after he was brought back to help bolster the Swiss lender's China business.

Mr Chin, 54, will be replaced by Mr Taichi Takahashi, the region's head of global markets, according to an internal memo on Thursday.

Mr Takahashi, who joined UBS as an equities trader in Tokyo in 1994 and moved to Hong Kong in 2012, will take over as head of investment bank, Asia Pacific effective Nov 1.

BLOOMBERG

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ByteDance

China's ByteDance is in talks with music labels for expanding its music-streaming service globally to compete with industry leaders such as Spotify, The Wall Street Journal reported on Wednesday.

The TikTok parent plans to eventually integrate music streaming within its short-video service and scale it to serve as a major platform for distributing music globally, according to the report.

The company had discussed in recent months launching its Resso music-streaming service, currently available in India, Indonesia and Brazil, in more than a dozen additional markets.

REUTERS