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May 03, 2024
 

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CORPORATE

Daihatsu's factory in the city of Ikeda, Osaka Prefecture. The company has suspended production at all its four factories in Japan.
BUSINESS / Companies
Dec 26, 2023
Daihatsu suspends all production in Japan amid safety test scandal
The suspension is set to last at least through the end of January, dealing a blow to over 8,000 suppliers and its parent company, Toyota Motor.
Officials from the transport ministry enter Daihatsu Motor's headquarters in Ikeda, Osaka Prefecture, on Thursday for inspection after a scandal regarding safety data manipulation emerged at the firm.
BUSINESS / Companies
Dec 21, 2023
Daihatsu offices raided after scandal halts all car shipments
The raid followed revelations that the carmaker and supplier had manipulated the results of various collision safety tests dating as far back as 1989.
Daihatsu said Wednesday that it will suspend shipments of all vehicle models made in Japan and abroad due to an unfolding scandal over misconduct in its crash tests.
BUSINESS / Companies
Dec 20, 2023
Toyota's Daihatsu to halt shipments as safety scandal widens
The results of an investigation suggest the scope of safety concerns, first disclosed in April, is now far greater than previously thought.
Seiichiro Nishioka, an outside director, apologizes at a news conference on Tuesday.
BUSINESS / Companies
Dec 19, 2023
Japan's Eneos dismisses president for hugging woman while drunk
The scandal is another blow to the firm, whose former CEO was forced to step down last year amid a report that he sexually harassed a hostess at a bar.
In Toshiba, JIP takes on a sprawling company far bigger and more complex than any it acquired before.
BUSINESS / Companies / FOCUS
Dec 19, 2023
In buying Toshiba, JIP takes on corporate Japan's toughest job
While the fund has quietly built up a track record by carving out businesses from big manufacturers, Toshiba is more complex than any it acquired before.
An office of Tokio Marine & Nichido Fire Insurance in Tokyo in 2016.
BUSINESS / Companies
Dec 19, 2023
FTC inspects nonlife insurers over alleged joint contract cartel
The on-site probes follow reports the firms prearranged premiums for joint insurance contracts with corporate and public entities.
Koo Yeon-kyung, the eldest daughter of LG's former chairperson Koo Bon-moo, at her home in Seoul on Oct. 3. The death of Koo Bon-moo in 2018 without a will sparked a power struggle within the Koo family and LG over the inheritance of his estimated $1.5 billion fortune — including his 11% stake in the company.
BUSINESS / Companies
Dec 19, 2023
Family split at LG tests corporate succession in South Korea
Wife and daughters of late chairman accuse adopted son and other executives of deception to steal their inheritance to bolster his claim to the company.
Taro Shimada, president and CEO of Toshiba, will remain in his post after the company goes private next week.
BUSINESS / Companies
Dec 14, 2023
JIP-led group to have majority on Toshiba board after delisting
The delisting will end the conglomerate's 74-year history as a public company.
The Tokyo Stock Exchange. The volume of management buyouts in Japan has increased to the highest on record this year, jumping 170% from a year earlier to at least ¥870 billion.
BUSINESS
Dec 8, 2023
Surge in management buyouts gives extra boost to Japanese stocks
The volume of management buyouts has increased to the highest on record this year.
A representative for Morgan Stanley, which in August said it was 70% of the way toward reaching the $1 trillion in sustainable financing it’s told investors it will achieve by 2030, declined to comment beyond referring to the bank’s latest ESG report.
BUSINESS / Companies
Dec 5, 2023
What banks really mean when they put trillions into ESG
With each bank announcing a different target, investors are left with little insight into the ways in which banks are defining what’s sustainable.
Kei Umeda, CEO of Mizuho Trust & Banking, speaks during an interview in Tokyo on Nov. 27.
BUSINESS
Dec 5, 2023
Mizuho sees firms scrambling to meet TSE's capital efficiency call
In January the Tokyo bourse will start publishing a list of companies that have disclosed action plans in line with its call to improve use of capital.
Buyouts by management and controlling parties have surged this year in Japan, with the total value now set to pass ¥1 trillion.
COMMENTARY / Japan
Dec 3, 2023
Being a listed company in Japan is losing its luster
Japan's corporate landscape is shifting as companies opt for management buyouts.
People walk past the booth of fashion retailer Shein during the first China International Supply Chain Expo (CISCE) in Beijing on Tuesday.
BUSINESS / Companies
Nov 29, 2023
Shein’s IPO plan to fuel scrutiny over cotton and China roots
In addition to fighting skeptics, Shein is also locked in a battle with rival Temu
Shareholders arrive to attend Toshiba's extraordinary shareholders meeting in Tokyo on Wednesday.
BUSINESS / Companies
Nov 22, 2023
Toshiba shareholders approve plan to go private next month
The decision will allow a consortium led by JIP to buy all of Toshiba's remaining shares, marking the end of its decadeslong history as a public firm.
OpenAI said it fired chairman Sam Altman after it concluded that he was not candid with the company's board, hindering its ability to exercise its responsibilities.
COMMENTARY / World
Nov 21, 2023
Profit, not progress, animates the tech world
Reliable sources said Altman's firing came amid difference in views about the speed at which OpenAI should push its artificial intelligence.
By Monday, OpenAI's board were overseeing a company in name only, with virtually the whole staff committed to a pledge of seeing them go or quitting the firm for fired former CEO Sam Altman's project at Microsoft.
BUSINESS / Tech / FOCUS
Nov 21, 2023
AI doomsayers blamed in OpenAI's undoing
Harsh critics see a deeply troubled startup that fell victim to the pearl-clutching of an incompetent board that was divorced from reality.
Sam Altman participates in an event at the Asia-Pacific Economic Cooperation leaders week in San Francisco on Nov. 16.
BUSINESS / Tech
Nov 20, 2023
OpenAI appoints ex-Twitch boss as CEO, while Altman joins Microsoft
The decision not to reinstate Altman as CEO has confounded efforts by investors and employees of the firm to steady the ship by bringing him back.
Takarazuka Grand Theater in Takarazuka, Hyogo Prefecture
JAPAN
Nov 20, 2023
Scandal-hit Takarazuka to set up experts panel to improve culture
Japan's all-female theater troupe Takarazuka Revue will set up a panel of experts possibly by year-end as it seeks to improve its corporate culture.
Female managers of Mitsui Sumitomo Insurance take part in a training session in Tokyo in October 2018.
BUSINESS
Nov 20, 2023
Listed firms in Japan work on fostering female managers
An increasing number of publicly traded Japanese companies are actively fostering female managers to assume leadership roles in the future.
A report by MSCI ESG Research showed that just one-tenth of MSCI Japan Index firms have reached the 30% female board member threshold that the government is seeking for top-listed businesses.
BUSINESS
Nov 20, 2023
Japan boards may struggle amid pressure for diversity, MSCI says
Just one-tenth of MSCI Japan Index firms have reached the 30% female board member threshold that the government is seeking for top-listed businesses.
Weak yen fattens tourist wallets in Japan
People visit the Ameya Yokocho market in Tokyo's Ueno district during the Golden Week holiday on Tuesday.
Number of vacant homes in Japan hits record high of 9 million
A vacant house in Tokyo is seen demolished in January 2020.
'So hot you can't breathe': Extreme heat hits the Philippines
A pedestrian cools himself with a folding hand fan as he waits for a ride along a road in Manila on Wednesday, as extreme heat hit the Philippines.
Kishida sets sights on energy and climate in South America trip
Prime Minister Fumio Kishida will use a policy speech in Sao Paulo to set out his vision for ties between Japan and South America, almost 10 years after former Prime Minister Shinzo Abe advocated for stronger ties between the two in the same city.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.
Kishida sets sights on energy and climate in South America trip
Prime Minister Fumio Kishida will use a policy speech in Sao Paulo to set out his vision for ties between Japan and South America, almost 10 years after former Prime Minister Shinzo Abe advocated for stronger ties between the two in the same city.
Yellow sand allergy: A health issue made worse by climate change
A screenshot of the Meteorological Agency's satellite image of clouds and yellow sand (in pink) on Sunday.
Climate change, chalky grains and the risks for Japan’s rice farmers
A farmer plants seedlings in Satsumasendai, Kagoshima Prefecture. Japan’s self sufficiency rate for rice is nearly 100%, compared with 38% for food overall, on a calorie basis.
Japan wants you to spend more with ‘luxury tourism’
Performers play a traditional drum unique to Wajima, Ishikawa Prefecture, in the prefectural capital of Kanazawa on March 16 to mark the extension of the Hokuriku Shinkansen line to Tsuruga Station in Fukui Prefecture.
Theaster Gates’ ambitious ‘Afro-Mingei’ brings Black Chicago to Tokyo
Theaster Gates' “A Heavenly Chord” lines up church pews before seven speakers and a Hammond B3 organ, a type of electric organ prevalent in Black American churches.

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