Business Topics

Nov 9, 2014

Nissan recalls 52,000 vehicles over faulty Takata air bags

Nissan announced Saturday that it is recalling more than 52,000 vehicles for passenger air bags that can explode with too much force and send shards of metal into the passenger compartment. The vehicles have air bag systems made by troubled Japanese supplier Takata Corp. ...

Two banks emerge as potential buyers of Citigroup Japan units

Nov 8, 2014

Two banks emerge as potential buyers of Citigroup Japan units

Citigroup Inc. has held the second round of an auction to sell its retail and credit card businesses in Japan, apparently short-listing two domestic banks, sources close to the matter said. Sumitomo Mitsui Banking Corp. and Sumitomo Mitsui Trust Bank are considered potential buyers ...

Nov 7, 2014

Higo and Kagoshima banks talk of merger

Higo Bank and Kagoshima Bank are finalizing talks on a merger, officials said on Friday, amid broader realignment moves in the regional banking sector. The combined assets of the two banks, based in Kumamoto and Kagoshima prefectures respectively, stand at more than ¥8.3 trillion, ...

Nov 7, 2014

Mitsui announces Brazil rail joint venture

Mitsui & Co. announced Friday a joint venture with Brazil’s Odebrecht TransPort S.A. which will focus on railway investments there. Mitsui will invest 500 million Brazilian real (¥22.5 billion) by the end of the year to take a 40 percent stake in the venture, ...

Nov 7, 2014

NTT cuts profit forecast on slack cellphone business

Nippon Telegraph and Telephone Corp. said on Friday its group net profit dropped 10.3 percent to ¥290.33 billion in the first half of the fiscal year through September, compared to the same period a year earlier, dragged down by the slack mobile phone business. ...

Nov 7, 2014

Facing U.S. safety probe, Honda expands air bag recall

Honda Motor Co., facing a U.S. safety probe, strengthened its recall of U.S. cars to replace potentially defective Takata Corp. air bags linked to several deaths. Japan’s third-biggest carmaker said late Thursday it was adding to its recall an undisclosed number of cars from ...

Takata widens loss forecast as air-bag recalls mount

Nov 7, 2014

Takata widens loss forecast as air-bag recalls mount

Takata Corp., the Japanese air-bag maker at the center of a safety crisis, widened its annual loss forecast and warned it can’t estimate the full financial liability as regulators urge automakers to speed up recalls. The auto-parts maker expects a ¥25 billion ($218 million) ...

Nov 6, 2014

McDonald's suffers ¥7 billion loss over meat scandal

McDonald’s Holdings Co. (Japan) on Thursday reported a group net loss of ¥7.54 billion for the January-September period as sales slumped in the wake of the food safety scandal involving a China-based meat supplier. That compared with a profit of ¥6.39 billion a year ...

Nov 6, 2014

Japan, U.S. to launch joint research on methane hydrate

Japan and the United States agreed Thursday to launch joint research into the development of methane hydrate, an energy source also known as burning ice. Japan Oil, Gas and Metals National Corp. signed a memorandum of understanding in Tokyo with the National Energy Technology ...

Nov 6, 2014

Panasonic, Polypore to collaborate on new battery technology

Polypore International Inc. said its Celgard LLC subsidiary and Panasonic Corp. will jointly develop a component for use in advanced lithium-ion batteries. Polypore, a U.S. maker of chemical membranes and separators, said the two companies will work on the development of coated and uncoated ...

Nov 5, 2014

Toyota raises forecast on profit jump, weak yen

Toyota raised its annual earnings forecast after posting a 23 percent jump in quarterly profit Wednesday as a favorable exchange rate added to momentum in its sales growth. Toyota Motor Corp.’s fiscal second quarter profit was a better than expected ¥539 billion, up from ...