Nissan to invest ¥33 billion on advanced manufacturing technology
Nissan Motor Co. said Thursday it will invest ¥33 billion ($301 million) to introduce advanced manufacturing technology at a plant in Japan to tackle the challenges of producing next-generation vehicles such as electric, intelligent and connected cars. Nissan plans to introduce the manufacturing technology at ...
Mitsubishi, Chubu Electric to take over Dutch energy giant Eneco
Dutch energy company Eneco Holding NV says it has agreed to a proposed €4.1 billion (¥492 billion) takeover by Mitsubishi Corp. and Chubu Electric Power Co. Eneco said in a statement Monday that Mitsubishi will fund 80 percent of the deal and Chubu Electric the ...
Carlos Ghosn's strategy: Convince court he's the victim of a conspiracy
A year after his arrest, Carlos Ghosn's strategy to exonerate himself from allegations of fraud and financial wrongdoing is becoming clearer: It's all a conspiracy. Out on bail, the former chairman and chief executive officer of the global alliance between Nissan Motor Co., Renault SA ...
Japanese auto brands grab top three slots in Consumer Reports' annual rankings
Japanese brands dominated the top three slots in Consumer Reports' annual auto reliability rankings released Thursday. Toyota Motor Corp.'s Lexus luxury brand was rated as the most reliable by the U.S. magazine, followed by Mazda Motor Corp.'s Mazda and the Toyota brand. In fourth and fifth ...
Mitsubishi to shut Singapore oil-trading unit after losses by trader
Trading house Mitsubishi Corp. said Wednesday it will shut down a Singapore unit that trades crude oil and petroleum products after alleging earlier that a trader racked up $320 million of losses in unauthorized trading. Mitsubishi said the unit, Petro-Diamond Singapore, "has confirmed after closing ...
Six major Japanese electronics makers see net profits plummet amid U.S.-China trade war
Six of seven major Japanese electronics makers suffered year-on-year drops in group net profits in April-September, according to earnings reports released Friday. Net profit slid 1.9 percent to ¥189.2 billion at Hitachi Ltd., 14.9 percent to ¥340 billion at Sony Corp., 11.2 percent to ¥100.9 ...
Ex-Mitsubishi oil trader linked to $320 million loss denies he hid activities, lawyer says
The trader fired by Mitsubishi Corp for allegedly losing $320 million in unauthorized bets on the price of oil denied wrongdoing in a statement issued by a lawyer on Wednesday. Wang Xingchen, also known as Jack Wang, did not engage in unauthorized trades in crude ...
Mitsubishi unit in Singapore loses $320 million on unauthorized trades
Major Japanese trading house Mitsubishi Corp. said Friday it was carrying out an investigation after its Singapore-based subsidiary lost $320 million because of unauthorized trades by an employee. In a statement, the firm said the losses involved a local employee of Petro-Diamond Singapore who was ...
Mitsubishi and Mesa to explore potential 100-plane SpaceJet deal
Mitsubishi Aircraft Corp. saw a boost this week to sales of its long-delayed SpaceJet regional aircraft, as Mesa Air Group Inc. signed a pact to negotiate a potential 100-plane deal. The memorandum of understanding, signed Thursday, calls for Mitsubishi and Mesa to discuss terms for ...
Four Japan firms fined in South Korea for auto parts bid-rigging
South Korea's fair trade commission has ordered four Japanese companies to pay fines totaling 9.2 billion won (¥803 million) for rigging bids on auto parts supplied to South Korean automakers. According to media reports Sunday, the four are Mitsubishi Electric Corp., Hitachi Automotive Systems Ltd., ...
Tiny booths for telecommuting begin rollout ahead of Tokyo 2020 Olympics
Call it co-working, Japan-style. People on the go will soon be able to find a quiet place to sit down and tap away on a laptop, thanks to phone-booth-sized offices popping up at train stations, airports and skyscraper lobbies. An enclosure of just 1.2 sq. ...
Canada's pain Japan's gain as Mitsubishi buys CRJ jet
Mitsubishi Heavy Industries Ltd., which agreed Tuesday to buy Bombardier Inc.'s loss-making regional jet program, plans to exploit the Canadian company's support network and global customer list to rejuvenate its delayed efforts to conquer the jet market. Japan's return to the aircraft market for the ...
