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Hokkaido Electric applies for additional 17% rate hike

Hokkaido Electric Power Co. on Thursday became the first utility to seek its second rate hike since March 2011, applying for permission to charge households around 17 percent more starting this fall. In its application to the Ministry of Economy, Trade and Industry, the utility cited the cost of buying ...

Aug 1, 2014

Panasonic, Tesla to build big U.S. battery plant

American electric carmaker Tesla Motors Inc. is teaming up with Japanese electronics company Panasonic Corp. to build a battery manufacturing plant in the U.S. expected to create 6,500 jobs. The companies announced the deal Thursday, but they did not say where in the U.S. ...

Jul 31, 2014

IMF's Japan report sees yen at fair value but warns on reforms

The International Monetary Fund said in a report released Thursday that the yen is currently at fair values against the other major currencies. The yen is assessed “as broadly consistent with medium-term fundamentals,” the Washington-based lender said in its annual assessment of the Japanese ...

Jul 31, 2014

Panasonic's revamp efforts continue to pay dividends

Panasonic Corp. said Thursday that its operating profit grew in the April-June quarter on the back of efforts to restructure by shifting focus to industrial markets instead of less profitable consumer products. The electronics giant said group operating profit rose 28.2 percent to ¥82.29 ...

Mitsubishi UFJ profit falls less than estimated on lending, fees

Jul 31, 2014

Mitsubishi UFJ profit falls less than estimated on lending, fees

Mitsubishi UFJ Financial Group Inc., the nation’s biggest bank, reported Thursday a smaller-than-estimated decline in first-quarter profit as lending income and fees rose, shrugging off an equity-market slowdown. Net income fell 5.8 percent from a year earlier to ¥240.5 billion in the three months ...