Feb 4, 2016

Mitsui slashes profit forecast 21% amid rout in commodities

Mitsui & Co., the nation’s second-biggest trading house, has lowered its full-year forecast 21 percent amid a collapse in commodity prices. The company expects a profit of ¥190 billion in the financial year to March, down from its previous forecast of ¥240 billion, according ...

Feb 3, 2016

Panasonic cuts full-year earnings outlook amid China slowdown

Panasonic Corp. cut on Wednesday its full-year earnings forecasts, hit by the slowing of the Chinese economy and other emerging markets. For the year through March 31, Panasonic now expects an operating profit of ¥410 billion ($3.4 billion), compared with ¥430 billion projected earlier, ...

Jan 29, 2016

Mitsui O.S.K. expects to sink into red ink for business 2015

Shipping giant Mitsui O.S.K. Lines Ltd. said Friday it will fall into the red in the business year ending in March after incurring huge restructuring costs amid deteriorating profitability on sluggish demand linked to China’s economic slowdown. The company is forecasting a consolidated net ...

Sony on net profit upswing as PlayStation sales soar

Jan 29, 2016

Sony on net profit upswing as PlayStation sales soar

Sony on Friday posted a nine-month net profit of ¥236.1 billion, as strong sales of its PlayStation video games console and image sensors used in mobile gadgets helped it move past years of losses. The once-iconic Japanese giant has been working to claw back ...

Dec 25, 2015

Toshiba fined record ¥7.3 billion over accounting scandal

The Financial Services Agency on Friday imposed a record ¥7.37 billion fine on scandal-hit Toshiba Corp. for falsifying financial reports. Japan’s financial watchdog set a Feb. 25 deadline for Toshiba to pay the fine. The company said it would pay the amount, adding, “We ...

Dec 22, 2015

Moody's lowers Toshiba's credit rating two levels to junk status

Toshiba Corp.’s long-term senior bond rating has been cut two levels by Moody’s Investors Service to Ba2, its second-highest junk rating, from Baa3. Moody’s also downgraded the short-term rating of the electronics company, the ratings agency said in a statement Tuesday. “We expect that ...