Business Topics

Toyota gets blowback from China after Abe plugs hydrogen car

Toyota Motor Corp., already falling behind competitors in China’s car market, is encountering a backlash from Chinese media over Prime Minister Shinzo Abe’s endorsement of its new Mirai fuel cell sedan. The automaker will face “turbulence” in its China sales after delivering its first hydrogen-powered Mirai to Abe earlier this ...

McDonald's chief pays price for fast-food giant's mounting woes

Jan 29, 2015

McDonald's chief pays price for fast-food giant's mounting woes

Fast-food giant McDonald’s replaced President and Chief Executive Officer Donald Thompson on Wednesday, after the company turned in another poor quarter of sales and earnings last week. The firm behind the world-famous Big Mac had been under pressure from investors to take swift action ...

| Jan 29, 2015

Carmakers face rosy quarter as commodity prices slump

Toyota Motor Corp. and Nissan Motor Co. are benefiting from a decline in the price of commodities like steel and rubber, which will make it cheaper to produce cars and give an extra boost to profits. Seven analysts who cover the industry said in ...

Jan 28, 2015

Skymark to file for protection from creditors

Struggling Skymark Airlines Inc. will file for protection from creditors at the Tokyo District Court, sources familiar with the matter said on Wednesday. The airline planned to make a formal decision on the matter at an extraordinary board meeting later in the day, the ...

Sony to cut 1,000 more jobs in smartphone business

Jan 28, 2015

Sony to cut 1,000 more jobs in smartphone business

Sony Corp. plans to eliminate another 1,000 jobs in its smartphone operations as the company tries to return the business to profit, according to a source familiar with the matter. It will shrink the division’s workforce to about 5,000 after including 1,000 job losses ...

Jan 28, 2015

Sony teaming with Aeon for share of budget smartphone market

Sony Corp. and major retailer Aeon Co. are planning a foray into the market for lower-priced smartphones, according to sources. From this spring at the earliest, Sony intends to sell earlier models of its Xperia smartphones at Aeon outlets at about half the price ...

Jan 28, 2015

JR Kyushu on track for stock listing in fiscal 2016

The transport ministry said Tuesday it will list Kyushu Railway Co. on the stock market in fiscal 2016 as the company becomes Japan’s fourth national rail operator to go private. JR Kyushu is currently owned by the government. It is one of the seven ...

Jan 28, 2015

Aeon announces tie-up with major Vietnamese retailers

Retail giant Aeon Co. said it has formed a capital and business tie-up with two of Vietnam’s major retailers in a bid to expand its business in the country. The company said Tuesday it has decided to take a 30 percent stake in Fivimart ...

Jan 28, 2015

Car parts firm Sanden agrees to pay U.S. fine for price-fixing

The U.S. Justice Department says Japanese automotive parts maker Sanden Corp. has agreed to plead guilty and pay a $3.2 million fine for its role in a price-fixing cartel for compressors used in air conditioning systems. Gunma Prefecture-based Sanden allegedly conspired to rig prices ...

Jan 27, 2015

Uniqlo set to open two outlets in Toronto

Fast Retailing Co. said Monday it will open two Uniqlo casual wear stores in Toronto in the autumn of 2016, in the brand’s first foray into the Canadian market. The move comes as part of Fast Retailing’s efforts to expand overseas operations of Uniqlo. ...

Jan 27, 2015

Toyota to change age-based pay scale

Toyota Motor Corp. plans to change its seniority-based pay structure for workers in Japan that will erase salary gaps between age groups, the company’s human resources chief said on Tuesday. The carmaker will consider introducing performance pay for younger employees and wants to tie ...