May 19, 2006

Sales slump fuels record Sanyo group loss

Struggling home appliance maker Sanyo Electric Co. reported a record group net loss of 205.6 billion yen for the business year that ended in March, due to falling sales and losses incurred in corporate restructuring, the company said Thursday. The result rewrites the previous ...

Aiful reports 13% fall in profit for '05

May 17, 2006

Aiful reports 13% fall in profit for '05

Troubled Aiful Corp. reported Tuesday that its net profit for fiscal 2005 dropped 13.1 percent to 65.827 billion yen on a consolidated basis due to a rise in customer demands that excess interest on loans be returned. The outlook is even grimmer for the ...

May 11, 2006

Softbank logs 1 trillion yen sales due to broadband

Softbank Corp. reported Wednesday that group sales reached 1.108 trillion yen in the business year that ended at the end of March, up 32 percent from a year earlier and achieving the 1 trillion yen threshold for the first time. The Internet investor attributed ...

May 11, 2006

ChuoAoyama handed suspension order, heads roll

The chairman of the ChuoAoyama PricewaterhouseCoopers board said Wednesday that both he and the deputy chairman will resign to take the responsibility for the firm’s failure to prevent three of its accountants from conspiring in the earnings falsification at Kanebo Ltd., just hours after ...

Auditor to face FSA sanctions

May 10, 2006

Auditor to face FSA sanctions

The government will slap major auditing firm ChuoAoyama PricewaterhouseCoopers with a business suspension order for its accountants’ involvement in window-dressing by Kanebo Ltd., Financial Services Minister Kaoru Yosano said Tuesday. The order, expected later this week, would be the FSA’s first suspension of one ...

May 3, 2006

New Corporate Law to foster additional M&As

In the weeks before the Corporate Law took effect Monday, Izumiya Co. announced measures to prevent hostile takeovers, expecting the law’s provisions to encourage mergers and acquisitions. Even before the law debuted, a number of high-profile hostile takeover bids attracted media attention, including Livedoor ...

Apr 29, 2006

BOJ keeps stance unchanged to steady recovery

Reflecting continued concern about the fragility of the country’s economic recovery, the Bank of Japan announced Friday it was maintaining its low interest rate monetary policy. “The Bank of Japan will encourage the unsecured overnight call rate to remain at effectively zero percent,” the ...

Apr 27, 2006

Honda achieved record 597 billion yen profit in '05

Honda Motor Co. said Wednesday that it logged a record consolidated net profit of 597.03 billion yen on record sales of 9.91 trillion yen for the business year that ended March 31, thanks to strong auto sales in North America and Europe. Group sales ...

Funeral entrepreneur champions affordable rites

Apr 26, 2006

Funeral entrepreneur champions affordable rites

Reserving one’s own funeral is something of a rarity — if not unheard of. But John Kamm, president of Tokyo-based startup All Nations Society Corp., believes “seizen-yoyaku,” or “preneed” funeral reservations, will catch on with the Japanese soon. Since entering the funeral business in ...