Business Topics

May 12, 2016

Toshiba posts ¥483.2 billion loss on Westinghouse writedown

Toshiba said Thursday that it suffered a ¥483.2 billion full-year net loss as the troubled conglomerate booked a massive writedown of its U.S. nuclear unit. It said the worst was over and forecast profits for the current business year. Once a proud pillar of ...

May 12, 2016

Sharp's losses, liabilities underscore challenge for Hon Hai

Sharp Corp. posted a second straight annual loss and said its liabilities exceeded its assets, highlighting the turnaround challenge facing new owner Hon Hai Precision Industry Co., also known as Foxconn Technology Group. The net loss was ¥256 billion in the year ended March, ...

McDonald's Japan quarterly loss narrows after menu changes

May 12, 2016

McDonald's Japan quarterly loss narrows after menu changes

McDonald’s Holdings Co. (Japan)’s first-quarter loss narrowed as the fast-food chain won back some customers after being hit by a series of food safety scandals. The net loss was ¥176 million for the three months ended March 31 compared with ¥14.6 billion a year ...

Sharp may tap Hon Hai vice chairman Tai as new chief

May 12, 2016

Sharp may tap Hon Hai vice chairman Tai as new chief

Electronics maker Sharp Corp., currently undergoing restructuring in a buy-out by Taiwan’s Hon Hai Precision Industry Co., is looking to appoint a close aide of Hon Hai’s chief as its new president, sources close to the matter said Thursday. Tai Jeng-wu is vice chairman ...

Mitsubishi Aircraft to pitch MRJ in Latin America

May 12, 2016

Mitsubishi Aircraft to pitch MRJ in Latin America

Mitsubishi Aircraft Corp. plans to step up its sales pitch for the Mitsubishi Regional Jet, Japan’s first domestically produced passenger jet, particularly in Latin America, according to the chairman of its U.S. unit. “We want to grab customers” from Embraer, a Brazilian aerospace conglomerate ...

JR East to offer luxury train tours of northern Japan

May 12, 2016

JR East to offer luxury train tours of northern Japan

East Japan Railway Co. will start luxury train tours using the 10-car Train Suite Shiki-Shima next May 1, JR East President Tetsuro Tomita has said. Between May and June 2017, JR East will offer two-day and four-day trips. Ticket prices will range between ¥320,000 ...

May 12, 2016

Nissan in talks to own third of scandal-stung MMC for $1.8 billion

Nissan Motor Co is in advanced talks to take a roughly one-third stake in Mitsubishi Motors Corp with a $1.8 billion investment, as Mitsubishi struggles with a fuel-economy data scandal, two sources said. If the ¥200 billion deal goes through, Nissan, Japan’s second-largest automaker ...

USJ scraps plan to build theme park in Okinawa

May 11, 2016

USJ scraps plan to build theme park in Okinawa

USJ Co., the operating company of Universal Studios Japan in Osaka, said Wednesday that it has dropped a much heralded plan to open a theme park in Okinawa Prefecture, in whose economy the government saw the project playing a key part. USJ Chief Executive ...

May 11, 2016

Hitachi to invest ¥300 billion in Internet-connected projects

Hitachi Ltd. plans to invest about ¥300 billion ($2.8 billion) over the next three years in its “Internet of things” platform as the maker of power plants, bullet trains and elevators bets the technology will drive sales. The money will be used for acquisitions, ...