Major Japanese chipmaker Renesas Electronics Corp. will halt six domestic plants for up to two months due to China's economic slowdown, informed sources have said. The Chinese slowdown has dented demand for semiconductors for industrial machinery and consumer electronics, according to the sources. The six factories, ...
Companies led by ex-Nissan chief Carlos Ghosn donated to his children's school and Paris ball
Companies headed by Carlos Ghosn, the embattled former head of Nissan Motor Co. and Renault SA, made donations to his children's school and the posh debutantes' ball in Paris where his daughters were presented. The contributions, first reported by L'Express Magazine, were confirmed by the ...
ANA makes superjumbo-size bet it can fill axed Airbus A380s with Japanese tourists to Hawaii
Just as a tide of canceled orders has prompted Airbus SE to halt production of the A380 superjumbo, Japan's biggest airline is betting it can succeed where others have failed — by filling the luxurious double-deckers with tourists flying to Hawaii. From May 24, ANA ...
Japanese road builders to face record ¥60 billion fine for forming cartel to fix asphalt prices
The nation's antitrust watchdog will impose fines totaling nearly ¥60 billion ($536 million) on Maeda Road Construction Co. and seven other major road paving material companies for forming a cartel to raise the price of asphalt, sources said Wednesday. The Fair Trade Commission has started ...
Mizuho's surprise $6.1 billion charge exemplifies risks for Japan banks seeking returns abroad
Mizuho Financial Group Inc. announced another round of losses Wednesday on its foreign-bond holdings as part of a surprise writedown that will severely curtail full-year profit, as Japanese banks' quest to secure yield by investing overseas continues to create turbulence. Mizuho slashed its net income ...
Leading Southeast Asian ride-hailing provider Grab raised about $1.5 billion from SoftBank Group Corp.'s Vision Fund, bankrolling its effort to expand into new services across the region. The funding brings the amount of money the company has collected from investors in the past year to ...
Toyota joins rival carmakers BMW and Honda in sounding Brexit alarm bell
Toyota Motor Corp. has added its voice to warnings about potential Brexit fallout as the deadline for an agreement on the U.K.'s exit from the European Union looms less than four weeks away. Possible disruption to trade between the U.K. and the EU is Toyota's ...
Japan's Itochu invests in Singapore operator of doctor-focused social networking service
Major trading house Itochu Corp. is investing in Docquity Holdings, a Singapore-based operator of a specialized social media network for doctors, to expand its health care business in Southeast Asia. By investing $6 million through private share placements, Itochu became a "major" investor in Docquity ...
Head of Japanese furniture chain Otsuka Kagu says she wants to end feud with father and cooperate
Otsuka Kagu Ltd. President Kumiko Otsuka said she wants to seek a reconciliation with her father after their feud hurt the furniture retailer's brand image. "Although our opinions regarding how to manage a listed company differed, I think I share with my father the same ...
Japan's MUFG agrees to buy German lender DZ Bank's aviation finance arm for ¥710 billion
The unit acquired from Germany’s second-largest bank will be one of the Mitsubishi UFJ Financial Group’s biggest acquisitions since it was created in 2005.
Subaru announces global recall of 2.3 million vehicles, its biggest yet, over faulty brake lights
Subaru Corp. is recalling around 2.3 million vehicles worldwide over a brake light problem, the automaker's biggest-ever recall, as it grapples with a series of quality-related issues following rapid expansion. Japan's sixth-largest automaker said Friday that it was recalling around 300,000 of its popular Impreza ...
Lawyers request bail for ex-Nissan chief Carlos Ghosn for third time
Lawyers for Nissan Motor Co.'s former Chairman Carlos Ghosn, who has been detained for more than three months on financial misconduct allegations, filed a request for bail for the third time with a Tokyo court on Thursday. The latest filing with the Tokyo District Court ...
