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 ...

Sep 29, 2015

Skymark launches new management team as it implements turnaround plan

Embattled carried Skymark Airlines launched a new management team Tuesday to implement a rehabilitation plan, picking top officials at an extraordinary shareholders meeting. Skymark concluded a code-sharing pact with All Nippon Airways, a unit of ANA Holdings Inc., as part of the rehabilitation plan, ...

Jul 31, 2015

Sharp logged group net loss in April-June for fifth straight year

Sharp Corp. said Friday it remained in the red in the April-June period for the fifth straight year with a net loss of ¥33.98 billion due to sluggish sales of liquid crystal displays for smartphones. The Osaka-based electronics maker quickly announced additional restructuring steps, ...

Jun 30, 2015

Sharp in 'selective default,' S&P says

Troubled electronics maker Sharp is in “selective default,” ratings agency S&P said, the latest blow to the one-time giant as it struggles to repair a tattered balance sheet. The move comes after Sharp announced that it was issuing preferred securities to its main lenders, ...