Word: itoh
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...Meguro, strangers bowed and smiled to one another and shared special editions of newspapers published to commemorate the occasion. BABY GIRL! screamed headlines. Queues snaked around shops selling royal-birth specials. Red lanterns swayed and banners extolling congratulations hung from homes and buildings. Yasuhiko Teraza, 67, and Teruhiko Itoh, 69, both hightailed it here from across town when they heard about the birth on the TV news. "I think it's great that it's a girl," says Teraza, pulling at his gray felt baseball cap. "They've got female royalty in England. Why can't we?" Itoh nodded...
...widespread report that the "one solid issue" triggering Nicholas' downfall was his attempt to block one of Ross's major deals: Time Warner's sale of a 12 1/2% share in its movie, cable-TV and Home Box Office operations to two Japanese companies, electronics maker Toshiba and C. Itoh, a trading company, for $1 billion. Luce says that while Ross wanted to bring foreign investors into operations that Time Warner would continue to control, Nicholas favored selling off assets outright...
...Japanese anticipate major benefits too. C. Itoh, which initiated the joint-venture talks last year, plans to expand its cable-TV operations in Japan by drawing heavily on Time Warner's expertise. As the world's largest trading company, C. Itoh (sales: $151 billion) already manages cable firms, runs sports and music channels and owns a 40% stake in two communications satellites. But that still leaves it plenty of room to grow in Japan, where only 18% of the households are wired for cable -- most of them in rural areas with poor regular-TV reception. "Cable is going...
Cable also fascinates Toshiba (sales: $35 billion), which C. Itoh brought into the deal. Toshiba executives warmed to the venture after touring an advanced 150-channel system that Time Warner is building in New York City...
Having concluded the Toshiba-C. Itoh deal, Time Warner is now expected to look in the other direction -- Europe -- to form new strategic alliances. "And that," vows Ross, "is exactly what's going to happen." The company could sell an additional 7 1/2% stake in Time Warner Entertainment and still retain an 80% interest -- the minimum level of ownership that would permit it to deduct any losses from the partnership from Time Warner's own taxes...