Business Topics

Daihatsu shareholders approve full ownership by Toyota

Jun 29, 2016

Daihatsu shareholders approve full ownership by Toyota

Shareholders of Daihatsu Motor Co. on Wednesday approved a proposal for the Japanese automaker to become a wholly owned unit of Toyota Motor Corp. on Aug. 1. Toyota, which currently owns about 51 percent of Daihatsu, will acquire remaining Daihatsu shares through an equity ...

Kubota group starting production of grapes for wine

Jun 28, 2016

Kubota group starting production of grapes for wine

The Kubota Corp. group has started producing grapes on its farms, which have mainly produced rice for export, according to sources. To expand its foundation for agricultural business, the group will produce grapes, which are increasingly in high demand for wine production, the sources ...

Jun 28, 2016

Line shoots for ¥112 billion IPO amid market tumult

Line Corp., Japan’s most popular mobile-messaging service, and its owners are aiming to raise as much as ¥112 billion in what could become the biggest technology initial public offering globally this year. Backed by South Korean search portal Naver Corp., Line and its existing ...

Jun 28, 2016

Itochu buys U.S. power plant managing firm

Itochu Corp. said Tuesday it has acquired PurEnergy LLC, a U.S. power plant and energy asset management firm, through NAES Corp., a Seattle-based unit of the Japanese trading house. The value of the deal was not disclosed. Syracuse-based PurEnergy engages in a wide range ...

Jun 28, 2016

Idemitsu founding family opposes planned merger with Showa Shell

The founding family of Idemitsu Kosan Co. opposes its planned merger next April with Showa Shell Sekiyu K.K., the family’s representative said Tuesday, clouding the outlook of the creation of one of the largest oil distributors in Japan. The founding family, which owns a ...

Shareholders urge Japan's utilities to end nuclear power generation

Jun 28, 2016

Shareholders urge Japan's utilities to end nuclear power generation

Shareholders urged nine power companies Tuesday to end nuclear power generation, reflecting safety concerns lingering since the 2011 Fukushima disaster. However, the proposals were turned down at the firms’ shareholders meetings. The companies, including Tokyo Electric Power Company Holdings Inc., operator of the crippled ...

Jun 28, 2016

Drugmaker SSP to come under Sanofi's wing after asset swap

Japanese drugmaker SSP Co. will be put under the wing of Sanofi as the French health care titan and Germany’s Boehringer Ingelheim GmbH announced an asset swap agreement Monday. Under the deal, Sanofi will acquire Boehringer’s consumer health operation, including SSP, in exchange for ...