Business Topics

May 27, 2015

MUFG record profit masks vanishing loan earnings in Japan

Record profits at Mitsubishi UFJ Financial Group Inc. and at least 26 of the nation’s banks mask vanishing returns on lending in Japan that’s spurring them to venture overseas. Funding costs and administrative expenses related to operating hundreds of branches exceeded what the two ...

May 27, 2015

Toshiba execs to have salaries cut by up to 50%

All 41 executive officers of Toshiba Corp. will have their salaries cut by up to 50 percent as the company takes responsibility for accounting irregularities, sources close to the matter said Wednesday. The pay cuts, which range between 10 percent and 50 percent, will ...

May 25, 2015

McDonald's revives free smiles, launches monthly events

McDonald’s Holdings Co. (Japan) on Monday revived its “smile for zero yen” campaign and said it will designate the 25th day of each month as a “mac smile day.” On each “smile day” this year, McDonalds will hold events in its outlets aimed at ...

May 25, 2015

Tepco wins Qatar utility contract estimated at ¥300 billion

Tokyo Electric Power Co. has jointly won a large power and water infrastructure contract in the desert state of Qatar, it said Monday. Tepco and trading house Mitsubishi Corp. have been selected by a firm backed by the Qatari government to build and operate ...

Giants Sharp, Toshiba face dire prospects

| May 25, 2015

Giants Sharp, Toshiba face dire prospects

by Tomoyuki Tachikawa

Several electronics makers have regained profitability largely thanks to restructuring measures and the weakening of the yen, but Sharp Corp. and Toshiba Corp. are unlikely to catch up with their domestic rivals soon. Struggling Sharp’s latest rehabilitation plan got a cold reception from the ...

Tottori Starbucks opening draws 1,000 people

May 23, 2015

Tottori Starbucks opening draws 1,000 people

About 1,000 people lined up Saturday for the opening of the first Starbucks outlet in Tottori Prefecture. Japan’s least populated prefecture was the last in which the coffee chain lacked a presence. The outlet, near a train station in the city of Tottori, the ...

Canadian class actions against Takata over airbags to expand

May 22, 2015

Canadian class actions against Takata over airbags to expand

A Canadian law firm said Thursday it planned to expand its class actions against embattled Japanese auto parts giant Takata and car manufacturers over defective air bags. The plaintiffs are seeking more than 3 billion Canadian dollars (¥297 billion) from Takata and auto manufacturers ...

May 22, 2015

Toshiba expands probe into accounting irregularities in several projects

Toshiba Corp. said Friday it will expand the scope of an independent investigation into the its accounting practices. The probe will cover Toshiba’s television, personal computer and semiconductor operations, in addition to its infrastructure business. Toshiba launched an independent investigation panel on May 15, ...

May 22, 2015

Yahoo Japan names SoftBank's Nikesh Arora as chairman

Yahoo Japan Corp. has announced that Nikesh Arora, vice chairman of its biggest shareholder, SoftBank Corp., will replace Masayoshi Son as chairman, subject to shareholder approval at the company’s annual general meeting in June. Son, who has been chairman since July 1996, will remain ...