Company in China-Taiwan group forgoes assistance to Japan Display, leaving bailout up in the air
A Taiwanese company that is part of a consortium planning to offer bailout funds to struggling Japan Display Inc. has decided to forgo providing the funds, sources said Saturday. The move deepens uncertainty over whether the maker of smartphone screens and Apple Inc. supplier can ...
Japan Display CEO to quit as struggling screen-maker plans more job cuts
Japan Display Inc., a supplier to Apple Inc., said Wednesday its CEO will quit in September to take responsibility for years of net losses as it unveiled additional restructuring measures and raised the number of domestic job cuts to 1,200. The latest reduction, up from ...
Nomura Securities Co. said Wednesday that it will close 25 outlets in urban areas as part of its branch consolidation plan announced in April. Operations at the 25 branches, located in the Kanto, Chukyo and Kansai regions, will be taken over by respective nearby outlets ...
Airlines downgrade 2019 forecast amid trade spats and fuel hike
The International Air Transport Association is lowering its 2019 profit forecast for the airline industry amid rising fuel prices and weakening world trade. The Montreal-based IATA said airlines are expected to earn $28 billion this year, down from the $35.5 billion it had predicted in ...
Citing weakening profitability, lower margins, Moody's downgrades Nissan's credit rating to A3
Nissan Motor Co.’s credit rating was cut a notch by Moody’s Investors Service, which cited the automaker’s weakening profitability and margins over the past two years. The issuer rating was lowered to A3 from A2, the rating company said in a statement Friday. Moody’s had ...
MUFG president tells investors of bank's plans to shutter 80 more outlets in Japan
Mitsubishi UFJ Financial Group Inc. President Kanetsugu Mike said core unit MUFG Bank will scrap about 80 more branches in Japan in a bid to further cut costs and improve earnings. He announced the plan at a meeting Monday with investors. Previously, the bank planned ...
Suruga Bank says fraudulent housing loans could top ¥1 trillion
Suruga Bank said Wednesday it has extended over ¥1 trillion ($9.1 billion) in confirmed and suspected fraudulent housing loans. In an attempt to restore trust among investors and clients following revelations last year of a spate of financing scandals, the regional lender also said it ...
Japan's mega-banks see challenging year ahead as profit drivers wane
Japan's biggest banks have warned investors of a tough year ahead. The nation's three mega-banks have been relying on the healthy status of borrowers and sales of so-called cross-shareholdings for earnings as rock-bottom interest rates crimp lending profitability. Results on Wednesday showed they are losing ...
Japan Display Inc. is considering reducing its workforce by around 1,000, mainly in Japan, as the Apple Inc. supplier accelerates restructuring to cut costs, sources close to the matter said Wednesday. The display-maker has agreed to a bailout by Chinese and Taiwanese firms. Japan Display is ...
Nissan faces mounting problems on its turnaround path, analysts say
The earnings report and forecast disclosed Tuesday by the automaker underscored a big problem after the arrest and ouster of former Chairman Carlos Ghosn— stabilizing its auto business.
Nissan projects weakest profit in a decade as Carlos Ghosn woes linger
Nissan Motor Co., trying to rebuild its tarnished reputation over failed corporate governance following the criminal investigation of two former executives, cut its operating profit outlook by a sharp 28 percent for fiscal 2019 to its lowest in a decade. At a news conference Tuesday ...
Major housing equipment maker Lixil Group Corp. has announced eight candidates for its board of directors to be submitted to a general meeting of its shareholders in June. Former Lixil President and Chief Executive Officer Kinya Seto, a current board director and Lixil shareholder, who ...
