NEWSWORTHY
China's HNA Group slims down after asset sales but debt concerns remain
Though HNA Group Co. has managed to reduce one of China's biggest debt piles by selling off dozens of assets, the embattled Chinese conglomerate will probably need to get much slimmer before regaining the trust of investors. Total debt fell 9.5 percent to 541.6 billion ...
Sharp Corp. plans to pull out from domestic production of major appliances and shift to overseas manufacturing as part of streamlining efforts under Taiwanese parent Hon Hai Precision Industry Co., a source said Friday. With the move, the Osaka Prefecture-based company will draw the curtain ...
An increasing number of regional banks have introduced lunchtime breaks in their service hours at branches and other outlets to rationalize their operations. On April 16, Bank of Nagoya introduced a one-hour break starting at 11:30 a.m. at its Kiba branch in Nagoya. Previously, the branch's ...
Japan's staff-heavy banks downsize and turn to technology for survival
These are tough times for banks. As the Bank of Japan's prolonged ultra-easy money policy weighs on earnings, the emergence of technology like artificial intelligence is transforming the mechanics of financing and threatening to replace thousands of roles with automated systems. The nation's major banks have ...
Cash-strapped Toshiba bids farewell to Times Square and 'Sazae-san'
Toshiba Corp. will remove its corporate logo from its prominent position atop the One Times Square building overlooking New York's iconic tourist hub as part of cost-cutting efforts, sources said Wednesday. In addition to terminating its contract for the Times Square screen in the first ...
Japan's regional banks, facing demographic challenges, turn to deal-making for revenue
The grim outlook for smaller regional banks, who are suffering as the rural population shrinks rapidly, is prompting some to dive into a new, potentially lucrative line of business that until now was largely taboo: mergers and acquisitions. In Japan's traditional banking culture, advising a ...
Nomura expected to shut London proprietary trading unit and lose four top managers: sources
Having struggled recently to make money from overseas trading, Nomura Holdings Inc. will shut a loss-making proprietary unit in London and four of the group's top managers may leave, according to people with knowledge of the matter. The group, run by Jonathan Och, employed 10 ...
Bank of Tokyo-Mitsubishi will close up to 20% of its branches across Japan
Bank of Tokyo-Mitsubishi UFJ plans to shut down 10-20 percent of about 480 branches across Japan, according to informed sources. Over the past decade BTMU has seen a 40 percent decline in customer visits to its branches. It intends to reduce branch operating costs in order ...
Japan Display Inc. is considering slashing around 4,000 jobs, about 30 percent of its total workforce, by streamlining manufacturing lines, mostly overseas, to turn around its struggling business, sources close to the matter said Tuesday. The liquid-crystal display maker, formed in 2012 through a merger ...
Toshiba Corp. said Monday it will spin off four key operations, including its infrastructure systems, to keep its shaky financial standing from affecting its healthy businesses. Roughly 24,000 of about 30,000 Toshiba employees are likely to be transferred to the newly established companies, but engineers ...
Toshiba submits unaudited results, raises questions about ability to survive as a company
Embattled Toshiba Corp. said Tuesday its grave financial situation puts it at risk of not being able to survive as a company. The reference was made in the earnings report for the April-December period of 2016 that Toshiba submitted the same day without approval from ...
Toshiba's U.S. unit bankruptcy dims Japan's nuclear ambitions
The bankruptcy filing by Toshiba Corp.'s U.S. nuclear unit highlights the tough business climate in the sector and the scale of the challenge Japan faces in seeking to sell its nuclear technology abroad. Westinghouse Electric Co. filed for Chapter 11 bankruptcy protection on Wednesday as ...
