Arab Today, arab today nikkei going global with financial times takeover
Last Updated : GMT 20:09:30
Arab Today, arab today
Arab Today, arab today

Nikkei going global with Financial Times takeover

Arab Today, arab today

Arab Today, arab today Nikkei going global with Financial Times takeover

Financial Times
Tokyo - AFP

Japanese media giant Nikkei's surprise acquisition of the Financial Times for $1.3 billion underscores its goal to be the voice of Asia on economic affairs as part of a broader Internet-driven global expansion.

But the unlikely cross-border marriage -- Japanese media rarely venture overseas and are routinely criticised as timid in pursuit of investigative news -- has sparked concerns about editorial independence at the storied salmon-pink business paper founded in 1888.

"The merger of the Financial Times and Nikkei will give the group a major international presence in the media sector," the Japanese paper said in its Friday edition, touting it as the country's biggest-ever foreign media acquisition.

President and CEO Naotoshi Okada said on the Nikkei's website: "Our goal is nothing short of making Nikkei the leading media voice in Asia".

In Japan, the Nihon Keizai Shimbun -- or Nikkei daily -- is a must-read for executives and has a strong track record of financial scoops.

About 2.7 million copies of its morning edition are printed daily while the afternoon version numbers 1.4 million copies.

The FT deal adds an internationally known brand and about 225,000 print copies to the Nikkei's arsenal as it eyes a battle with business powerhouses the Wall Street Journal and Bloomberg.

Online, the Nikkei-FT marriage would catapult the group past the New York Times' 910,000 Internet subscribers.

Like the FT, the Nikkei is seen as a business bible.

Its 140-year-old history is inextricably linked with Japan's industrial sector and once-booming economy, and the Tokyo Stock Exchange's benchmark index -- the Nikkei 225 -- takes its name from the group.

- Digital domain -

The move into magazines, books and television, among other sectors, has left the Nikkei on solid financial ground, even as many major media struggle with their finances in the age of the Internet.

Meanwhile, the FT has earned a reputation as one of the most nimble media giants in the digital age, building a giant subscriber base and successfully attracting advertisers because of its upmarket readership.

"It's a good story for the Nikkei -- buying the FT offers the experience online and a foreign subscriber base in the dominant language in the world, English," said Yasuhiro Matsuzaki, deputy chief editor at the rival media group Tokyo Keizai.

"The Nikkei is already the most advanced Japanese newspaper in the digital domain but it takes time to get subscribers," he added.

However, the takeover could make for a rocky cultural exchange.

The FT, among other media, has strongly criticised the Nikkei's apparently privileged access to earnings results and other company news, often weeks before it is officially announced.

And the Japanese press is routinely accused of being conflict shy and self-censoring to avoid offence. That issue came into stark focus during the Fukushima nuclear crisis when some viewed the media as soft in its criticism of company and government officials.

"Worrying. Nikkei is basically a PR machine for Japanese biz; it initially ignored the 2011 Olympus accounting scandal (which FT broke)," a New York Times reporter wrote on Twitter, referring to one of Japan's worst ever accounting scandals.

Goushi Kataoka, an economist at Mitsubishi UFJ Research, was blunt in his assessment of the deal.

"I'm worried that the Financial Times could become like the Nikkei, and I hope that will not be the case," he said.

Robert Peston, former political editor and financial editor of the Financial Times and now BBC economics editor, also expressed concern at the sale.

"If I were still at FT, I'd ask if Nikkei respects culture of trying to hold all power to account (even if FT, like rest of us, often fails)," Peston wrote on Twitter.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nikkei going global with financial times takeover Arab Today, arab today nikkei going global with financial times takeover

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday