Jun 5, 2015

Toshiba may skip summer bonuses for execs

Toshiba Corp., hit by an accounting scandal, may skip this year’s summer bonuses for its executives, informed sources said Friday. The machinery giant is mulling the move because the company has been unable to finalize its earnings report for fiscal 2014, which ended in ...

May 27, 2015

Toshiba execs to have salaries cut by up to 50%

All 41 executive officers of Toshiba Corp. will have their salaries cut by up to 50 percent as the company takes responsibility for accounting irregularities, sources close to the matter said Wednesday. The pay cuts, which range between 10 percent and 50 percent, will ...

Mitsui CEO eyes food, retail amid profit slump

May 20, 2015

Mitsui CEO eyes food, retail amid profit slump

Mitsui & Co., the nation’s top oil trader, is expanding its focus beyond raw materials as its incoming CEO contends with an expected 22 percent decline in profit this year. As much as 80 percent of Mitsui’s profit comes from such areas as iron ...

Toshiba puts downward profit revision at over ¥50 billion

May 14, 2015

Toshiba puts downward profit revision at over ¥50 billion

Toshiba Corp. has announced it might have to revise operating profit downward by just over ¥50 billion ($412 million) for the three years through March 2014 because of an in-house investigation into improper accounting at its infrastructure-related businesses. The estimate, contained in a statement ...

May 13, 2015

Nissan profit soars on weak yen, new models

Nissan Motor Co. said Wednesday its fiscal year net profit soared 17.6 percent to ¥457.6 billion, crediting a weak yen and the launch of new models for buoyant results that surpassed its earlier forecasts. The nation’s No. 2 automaker had earlier expected earnings of ...

SoftBank posts record profit, reveals potential successor

May 12, 2015

SoftBank posts record profit, reveals potential successor

SoftBank Corp. said Monday it posted a record group net profit for the fifth consecutive year last fiscal year and its top executive described a former Google Inc. executive as a possible successor to run the Japanese telecom giant in future. SoftBank’s group net ...

May 1, 2015

Otsuka Kagu posts first-quarter loss after proxy fight

Otsuka Kagu Ltd. said Friday that it swung to a net loss in the first quarter as clients shunned the Japanese furniture retailer following the proxy fight between the founder and his daughter. Otsuka Kagu posted a net loss of ¥740 million for the ...