Economy | ANALYSIS
Households to take hit from tax hike
by Tomoko Otake
The consumption tax increase will hit every household in Japan hard, with many people’s financial future hanging on whether their wages rise enough to offset the hike's impact.
Business Topics
Corporate Sep 27, 2013
Ford acquires access start-up
Ford Motor Co. said Thursday that it acquired the start-up company Livio in a bid to accelerate its efforts to help drivers safely access content on their smartphones while on the road. Livio, which is based in the Detroit suburb of Ferndale, develops software ...
Corporate Sep 26, 2013
Nidec to buy out Mitsubishi Material's motor-making unit
Precision motor manufacturer Nidec Corp. said Thursday it will buy out a Mitsubishi Materials Corp. subsidiary that makes motors for automobiles as it prepares to jump into the growing market for such products. The acquisition of Mitsubishi Materials C.M.I. Corp. will enhance Nidec’s product ...
Corporate Sep 26, 2013
Lixil to pay $4 billion for Grohe of Germany
German sanitary fittings maker Grohe said Thursday that housing and building materials company Lixil has agreed to take it over in a deal valuing the German group at €3.06 billion ($4.1 billion). Grohe “has entered into an agreement with Lixil and Development Bank of ...
Corporate Sep 25, 2013
Amazon Japan begins online sales of OTC drugs, vitamins
Amazon Japan has begun online sales of over-the-counter drugs such as cold and digestive medicines, as well as vitamin supplements and other low-risk pharmaceutical products. The online retailer’s move came after Prime Minister Shinzo Abe’s administration lifted a ban on online drug sales as ...
Corporate Sep 25, 2013
Applied Materials to buy rival Tokyo Electron
Applied Materials Inc., the world’s largest supplier of chip-making equipment, has agreed to acquire Tokyo Electron Ltd., its closest rival, for $9.39 billion (¥926 billion) in stock, in the largest bid by a foreign corporation for a Japanese firm in six years. Gary Dickerson, ...
Corporate Sep 25, 2013
Toshiba to give wind power generation a whirl
Toshiba Corp. is planning a major push into the wind power business. One of its wholly owned subsidiaries plans to acquire Sigma Power Janex Co., a spinoff of wind power operator Japan New Energy Explorer Co., or Janex, in mid-November for billions of yen. ...
Corporate Sep 25, 2013
Top carmakers slash output after green subsidies end
The nation’s top three automakers cut domestic output in August by double digits after the “green car” subsidy program ended, data released Wednesday show. Toyota Motor Corp.’s output sank 10.9 percent on year to 233,514 vehicles, Nissan Motor Corp.’s output fell 11.7 percent to ...
Corporate Sep 25, 2013
Big battery eyed as green energy cure
Japan will build the world’s largest storage battery system in Hokkaido as early as this autumn in a bid to rectify fluctuations in the electricity produced by renewable energy sources. The project is aimed at promoting renewable energy by addressing a key defect — ...
Corporate Sep 24, 2013
Lamborghini eyes first SUV since '90s
by Anna Mukai
Lamborghini expects the concept Urus vehicle, its first SUV since the Rambo Lambo of the 1990s, to get cleared for production, the supercar-maker’s chief executive officer said. “We’re working on it and it will come, which will be good for the brand,” Stephan Winkelmann ...
Corporate Sep 24, 2013
New year but same story for Nippon Steel & Sumitomo Metal: slash costs
Nippon Steel & Sumitomo Metal Corp. is set to face the challenge of cutting costs further in the second year of its establishment. The nation’s leading steel-maker has promoted cost reductions by reviewing its production structure since it was created through the merger of ...
Corporate Sep 24, 2013
Fairfax bids $4.7 billion to take troubled BlackBerry private
BlackBerry’s largest shareholder has reached a tentative agreement to pay $4.7 billion for the troubled smartphone maker, even as many investors fret about its potential demise. BlackBerry Ltd. said Monday that Fairfax Financial Holdings Ltd. has signed a letter of intent that “contemplates” buying ...
Corporate Sep 24, 2013
Nippon Express tries halal route
Nippon Express Co. is seeking halal certification in Malaysia to start a food distribution business in the Muslim-majority nation. The major distributor said last week its local unit has already submitted an application to Kuala Lumpur and is seeking approval by next April. Halal ...