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 ...

Apr 21, 2006

BOJ staff seen traveling on cheap, getting reimbursed in full

The Bank of Japan has overpaid on domestic air travel expenses claimed by many of the 2,150 employees at its head and branch offices since fiscal 1999, officials admitted Thursday after the Board of Audit reportedly ordered it to correct the practice. The overpayment ...

Apr 4, 2006

Manufacturers' confidence takes surprising drop

Confidence among major manufacturers dropped unexpectedly — albeit slightly — in the first quarter of the year due to high oil prices, marking the first decline in four quarters, according to the Bank of Japan’s closely watched “tankan” survey released Monday. However, despite a ...

Apr 1, 2006

Fuel spike helped push February CPI up 0.5%

The February core consumer price index rose 0.5 percent to 97.6 from a year ago, compared with the 100-point benchmark for 2000, the government announced Friday, marking the index’s fourth consecutive year-on-year increase. The Internal Affairs and Communications Ministry attributed the rise in the ...

Mar 18, 2006

Softbank will buy Vodafone K.K.

Softbank Corp. said Friday it has reached an agreement with Vodafone Group PLC to buy 97.7 percent of its Japanese unit for 1.75 trillion yen in a move that will allow it to acquire Vodafone K.K.’s 15 million users and its nationwide mobile communications ...