Business Topics

Mitsubishi Motors sees first loss in eight years amid scandal

Jun 22, 2016

Mitsubishi Motors sees first loss in eight years amid scandal

Mitsubishi Motors Corp. forecast its first loss in eight years after setting aside compensation costs related to manipulating fuel-efficiency ratings and falsifying test data. Net loss in the year ending March 31 will probably be ¥145 billion ($1.4 billion), the company said in a ...

Jun 22, 2016

Toshiba chief vows to regain trust at shareholders meeting

Toshiba Corp. President Masashi Muromachi vowed Wednesday to rebuild trust in the electronics and machinery giant after an accounting scandal. “We’re resolved to do all we can to win back trust and restore the value of the firm,” Muromachi told a general shareholders meeting ...

Nissan CEO Ghosn's pay tops ¥1 billion for second year

Jun 22, 2016

Nissan CEO Ghosn's pay tops ¥1 billion for second year

Nissan Motor Co. President Carlos Ghosn, one of Japan’s best-paid executives, received more than ¥1 billion ($9.58 million) in pay for the second straight year after the carmaker’s profit climbed to a record. Ghosn, 62, was paid a total of ¥1.07 billion for the ...

SoftBank heir apparent Arora to resign over succession timeline

Jun 21, 2016

SoftBank heir apparent Arora to resign over succession timeline

A former Google executive who was seen as the heir apparent to the founder of mobile communications giant SoftBank has resigned because of a conflict over the timeline for his succession, the company announced Tuesday. SoftBank had just hours earlier cleared Nikesh Arora after ...

Jun 17, 2016

Japan's Idemitsu Kosan, Showa Shell to merge on April 1

Japanese refiner Idemitsu Kosan Co and smaller rival Showa Shell Sekiyu will merge on April 1 next year, the two companies said on Friday. Japan’s No.2 and No.5 refiners by revenue agreed last November in a deal worth about $4 billion to create the ...