Mitsubishi Electric data likely compromised in massive cyberattack blamed on Chinese group
Highly sensitive information on defense, electricity or other infrastructure operations, however, was not breached, the company said.
South Korea court rejects wartime labor claims against Mitsubishi Heavy from 54 plaintiffs
A lawyer said those whose claims were rejected were not able to gather relevant evidence or did not have enough recollection to prove their case.
WeWork bailout stalls as Japan banks balk at lending Softbank $3 billion
SoftBank Group Corp.'s talks to secure $3 billion (about ¥328 billion) from the nation's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion rescue package for WeWork. The technology conglomerate is ...
Masayoshi Son's bankers worried about their favorite client
Masayoshi Son's bankers are taking a hard look at their most important client. After the costly rescue of office-sharing startup WeWork and a series of other high-profile setbacks for Son, senior executives at two of Japan's biggest banking groups have said privately they've grown less ...
Some banks are levying more fees as a way to cover plunges in revenue, with industry leader MUFG Bank considering a maintenance charge for inactive accounts. The moves reflect a tougher business environment amid prolonged low interest rates as well as higher costs for labor ...
Mitsubishi Electric worker investigated over suicide of recruit
A Mitsubishi Electric Corp. employee has been referred to prosecutors for allegedly inciting suicide after one of the company’s recruits killed himself in August.
MUFG Bank will set up a joint company with human resources services provider Recruit Holdings Co. to launch a smartphone-based cashless payment service, it was learned Wednesday. The core banking arm of Mitsubishi UFJ Financial Group Inc. will seek to utilize Recruit's client base of ...
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 ...
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 ...
Japanese banks face headwinds even with current profit goals in sight
Even as the nation's biggest banks remain on course to achieve their full-year earnings goals, they are losing profit drivers. Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. all posted declines in fiscal second-quarter net income, as they ...
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 ...
