Business Topics

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, ...

May 11, 2016

Takata logs ¥13 billion loss as recalls continue

Scandal-stricken Takata on Wednesday logged an annual net loss of ¥13.08 billion as the company struggles with massive recalls over exploding air bag inflators. The problem has been tied to 13 deaths in the United States and Malaysia. U.S. auto safety regulators last week ...

May 11, 2016

Tokio Marine to up stake in Vietnamese insurer to 51%

Tokio Marine Holdings Inc. announced Wednesday that it will raise its equity stake in Vietnam’s Bao Viet Tokio Marine Insurance Co. to 51 percent from 49 percent. The company said it has reached a definitive agreement with Vietnam’s largest insurance group to buy the ...

May 10, 2016

SoftBank reports 8.8% jump in profit for year on Sprint savings

SoftBank Group Corp. on Tuesday said operating profit rose 8.8 percent in the just-ended business year, a tad short of analysts’ estimates, pushed up by robust domestic operations and cost cuts at U.S. subsidiary Sprint Corp. The telecoms conglomerate reported profit of ¥999.5 billion ...

May 9, 2016

Sumitomo Corp. misses profit target, warns of uncertainty

Sumitomo Corp. warned that its business outlook is becoming more uncertain after missing its full-year profit target due to widening impairments on its resources investments. The Tokyo-based trading house said net income in the year through March was ¥74.5 billion, below the ¥100 billion ...