Business Topics

Volkswagen Chairman Piech resigns after dispute over CEO

Apr 26, 2015

Volkswagen Chairman Piech resigns after dispute over CEO

Ferdinand Piech, chairman of the board of Volkswagen AG and a major figure in the German auto industry, has stepped down after clashing with other board members over his criticism of the company’s CEO. Volkswagen said in a statement Saturday that Piech, 78, was ...

'Star Wars' goods hit shelves in Tokyo, Kobe

Apr 25, 2015

'Star Wars' goods hit shelves in Tokyo, Kobe

by Kazuaki Nagata

With the release of the seventh “Star Wars” installation looming in December, Toys “R” Us Japan Ltd. on Saturday opened dedicated in-store displays at its Odaiba and Kobe stores in an attempt to expand the fan base. “We launched this promotion because we’d like ...

Apr 25, 2015

Ministry raises estimate for cost of nuclear power generation

The Ministry of Economy, Trade and Industry has raised its estimate for the cost of generating nuclear power to around ¥10 per kilowatt-hour, up by about ¥1, informed sources said Friday. The previous estimate was “at least ¥8.9,” the sources said. The revision was ...

Apr 24, 2015

Fast Retailing mulling delivery tie-up with Lawson

Fast Retailing Co., operator of the Uniqlo casual clothing chain, is in talks with convenience store operator Lawson Inc. for a tie-up in delivery services, aiming to expand its sales network, company officials said Friday. Asia’s biggest clothing retailer would start a new service ...

Apr 23, 2015

Nobel laureate Nakamura's lighting company opens office in Yokohama

Nobel loreate Shuji Nakamura said Thursday his U.S.-based company Soraa Inc. has opened an office in Yokohama, southwest of Tokyo, to market high-quality light-emitting diode lamps in Japan. “Japan boasts the world’s widest diffusion of LED lamps,” said Nakamura, one of three Japan-born scientists ...

Apr 23, 2015

Sharp's ¥200 billion bailout approved by Mizuho, BTMU

Sharp Corp. has effectively been given the green light to receive ¥200 billion ($1.7 billion) in financial support from its two main creditor banks on condition it engages in more drastic restructuring, sources close to the matter said Thursday. Mizuho Bank and the Bank ...

HondaJet makes maiden flight from Sendai to Tokyo

Apr 23, 2015

HondaJet makes maiden flight from Sendai to Tokyo

Honda Motor Co.’s first jet plane made its maiden flight Thursday as the company seeks to boost its reputation for cutting-edge technology. The seven-seat aircraft took off from Sendai and landed at Tokyo’s Haneda airport Thursday afternoon, said Kosuke Kachi, a Honda spokesman. The ...

Apr 23, 2015

MHI to shut two Yokohama plants, move some production offshore

Mitsubishi Heavy Industries Ltd. said Thursday it will shutter two Yokohama factories producing power generation equipment and move the operations elsewhere in Japan and overseas. Both MHI’s Kanazawa plant and a plant jointly run with Hitachi Ltd. are expected to be closed. MHI aims ...

Apr 22, 2015

Sony beats estimates as Hirai revamp fuels earnings growth

Sony Corp. raised its profit forecast for the second time since February as Chief Executive Officer Kazuo Hirai’s revamp stokes earnings from games and financial services. Operating income more than doubled to ¥68 billion ($569 million) in the year ended March, the company reported ...