Mitsubishi Motors sees first loss in eight years amid scandal

Jun 22, 2016

Mitsubishi Motors sees first loss in eight years amid scandal

Mitsubishi Motors Corp. forecast its first loss in eight years after setting aside compensation costs related to manipulating fuel-efficiency ratings and falsifying test data. Net loss in the year ending March 31 will probably be ¥145 billion ($1.4 billion), the company said in a ...

May 23, 2016

Toshiba revises earnings results, plans to halve capital base

Toshiba Corp. has corrected fiscal 2015 earnings results released earlier in the month, as the industrial conglomerate reviewed its calculations of losses from its nuclear power business. Toshiba, hit by an accounting scandal that surfaced roughly a year ago, also announced it will more ...

May 17, 2016

Mitsubishi UFJ projects 11% lower profit amid negative rates

Mitsubishi UFJ Financial Group Inc. sees full-year profits falling 11 percent as negative interest rates squeeze loan profitability and the costs of bad loans increase. The country’s largest bank is targeting net income of ¥850 billion in the year ending March 2017, it said ...

May 12, 2016

Toshiba posts ¥483.2 billion loss on Westinghouse writedown

Toshiba said Thursday that it suffered a ¥483.2 billion full-year net loss as the troubled conglomerate booked a massive writedown of its U.S. nuclear unit. It said the worst was over and forecast profits for the current business year. Once a proud pillar of ...

May 12, 2016

Sharp's losses, liabilities underscore challenge for Hon Hai

Sharp Corp. posted a second straight annual loss and said its liabilities exceeded its assets, highlighting the turnaround challenge facing new owner Hon Hai Precision Industry Co., also known as Foxconn Technology Group. The net loss was ¥256 billion in the year ended March, ...

McDonald's Japan quarterly loss narrows after menu changes

May 12, 2016

McDonald's Japan quarterly loss narrows after menu changes

McDonald’s Holdings Co. (Japan)’s first-quarter loss narrowed as the fast-food chain won back some customers after being hit by a series of food safety scandals. The net loss was ¥176 million for the three months ended March 31 compared with ¥14.6 billion a year ...

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 ...