PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Japan and South Korea agreed to release some oil reserves alongside IEA partners

JAPAN

Kyocera Corp. (6971 JT) - Co. announced the development of a pluggable optoelectronic module supporting the PCIe 6.0 standard as part of its OPTINITY module series for data centres. (Newswires)

Mitsubishi UFJ Financial Group (8306 JT) - MUFG Bank and State Bank of India signed a strategic partnership agreement to collaborate on structuring and financing projects including M&A, aviation and real estate finance. (Newswires)

Mitsui O.S.K. Lines (9104 JT) - A container ship owned by the Co. was reportedly damaged near the Strait of Hormuz. (Nikkei)

Nidec Corp. (6594 JT) - Oasis Management, a Hong Kong-based activist investor, has acquired a 6.7% stake in the Co. (Nikkei)

Nomura Holdings (8604 JT) - Nomura Asset Management is reportedly shifting administrative work for investment trusts and other investments to India to support the global move toward next-day settlement. (Nikkei)

SoftBank Group (9984 JT) - PayPay has reportedly raised USD 880mln in its IPO, according to sources. (Newswires)

Energy - Japanese PM Takaichi said Japan will begin releasing oil reserves as early as March 16, including 15 days’ worth of private-sector reserves and one month of state reserves. (Newswires)

SOUTH KOREA

Hanmi Science (008930 KS) - Co. is reportedly moving to replace CEO of Hanmi Pharmaceutical with outsider Hwang Sang-yeon poised to lead the firm. (ChosunBiz)

Hanwha Aerospace (012450 KS) - Hanwha Group said it will showcase its integrated air and missile defence capabilities at a major European defence exhibition. (Yonhap)

Technology – South Koren Chipmakers are reportedly intensifying competition for talent as South Korean firms, Taiwan Semiconductor Manufacturing Co. and US tech companies ramp up hiring. (ChosunBiz)

Energy – South Korea will release 22.46mln barrels from its oil reserves under the IEA coordinated release plan. (Yonhap)