Business Topics

Jul 29, 2015

Scandal-hit Toshiba eyes retaining Muromachi as president

Toshiba Corp. is looking at the possibility of retaining temporary President Masashi Muromachi when it appoints its new management team next month as it regroups following an accounting scandal, according to company sources. Muromachi, who is also Toshiba chairman, tentatively took over the presidency ...

Jul 27, 2015

Canon profit tumbles 20.5% on weak camera demand

Canon Inc. said Monday that its net profit fell 20.5 percent in the first six months of the year as smartphones increasingly take a bite out of demand for digital cameras. The photography and office equipment giant reported a ¥102.13 billion ($830 million) profit ...

Mitsubishi Tanabe Pharma to revamp drug development divisions

Jul 27, 2015

Mitsubishi Tanabe Pharma to revamp drug development divisions

Mitsubishi Tanabe Pharma Corp. said Monday it will reorganize its three drug development-related divisions on Oct. 1 to speed up new drug launches. Specifically, the company’s three divisions — basic research, clinical trials and quality control — will be reorganized into two divisions. Of ...

Mitsubishi Motors to shutter U.S. plant if no buyers found

Jul 27, 2015

Mitsubishi Motors to shutter U.S. plant if no buyers found

Mitsubishi Motors Corp. will stop making vehicles in the United States this year and will close down its plant in Illinois if no buyers are found. The automaker officially announced Monday it will cease producing the Outlander Sport at the Bloomington-Normal plant at the ...

Jul 25, 2015

Muromachi to lead Toshiba recovery

Toshiba Corp. plans to have interim chief Masashi Muromachi relinquish the title of chairman to focus on the role as president, informed sources told Jiji Press. Muromachi will lead an effort to recover from the accounting scandal that rocked the industrial and electronics company. ...

Jul 25, 2015

After surprise FT sale, focus turns to The Economist

The Economist Group could become the latest British media business to undergo a change of ownership this year as its co-owner Pearson focuses on education, bankers and industry sources said. The company, whose weekly magazine was first published in 1843, is partly held by ...