Business Topics

Oct 24, 2014

MHI, Chiyoda plan first offshore hydrogen plant

Mitsubishi Heavy Industries Ltd. and Chiyoda Corp. will jointly launch a project to build the world’s first offshore hydrogen production plant, NHK reported Friday. Mitsubishi Heavy Industries, a major shipbuilder, and Chiyoda, which develops hydrogen production technology, aim to create a ship-type plant to ...

JR Tokai helps push Washington-Baltimore maglev project

Oct 22, 2014

JR Tokai helps push Washington-Baltimore maglev project

Imagine whisking past some of the densest road congestion in the United States at 500 kph. That’s the vision of Northeast Maglev, a company seeking to bring a $10 billion Japanese magnetically levitated train line to the 64-km Washington-Baltimore corridor for 15-minute trips. Chairman ...

Aeon says it will create Japan's biggest drugstore chain

Oct 22, 2014

Aeon says it will create Japan's biggest drugstore chain

Retail giant Aeon Co. announced plans Wednesday to integrate drugstore chain subsidiary CFS Corp. with Welcia Holdings Co. to create Japan’s largest drugstore operator in 2015. Aeon said it will acquire a controlling stake in Welcia through a tender offer. Welcia reached agreement with ...

Oct 22, 2014

Third Point sells Sony, takes new stakes in eBay, Alibaba

Third Point LLC, the hedge fund firm run by Daniel Loeb, sold its investment in Sony Corp. and bought stakes in eBay Inc. and Alibaba Group Holding Ltd. in the third quarter. The New York-based firm also called for a breakup of biotechnology company ...

Oct 22, 2014

Daiwa closes convertible-bond principal trading desk in London

Daiwa Securities Group Inc. has closed its principal trading desk in London for convertible bonds as Japan’s second-largest brokerage reviews the profitability of its operations abroad. The firm shut the business this month, spokeswoman Misato Kinoshita said Wednesday, while declining to comment on the ...

JR West opens prayer rooms in Osaka Station

Oct 22, 2014

JR West opens prayer rooms in Osaka Station

In a first for the Japan Railway group, West Japan Railway Co. opened a worship facility in Osaka Station on Wednesday, with the aim of better serving foreign travelers. Although the facility is designed mainly for Muslims from Indonesia and Malaysia, individuals of any ...

Maglev line gets green light

Oct 17, 2014

Maglev line gets green light

Central Japan Railway Co. on Friday received a green light from the government to build a magnetically levitated train line between Tokyo and Nagoya by 2027. The maglev line will shorten travel time from Tokyo to Nagoya to about 40 minutes, according to JR ...

Orix presses ahead with solar despite grid constraints

Oct 17, 2014

Orix presses ahead with solar despite grid constraints

Orix Corp., the finance and leasing company with renewable energy investments, plans to increase its backing of large solar projects in Japan regardless of grid access constraints that are threatening to slow the industry. The Tokyo-based company is targeting 800 megawatts of “megasolar” projects ...