Akebono Brake to accept ¥20 billion from turnaround fund

Business / Corporate Jul 19, 2019

Akebono Brake to accept ¥20 billion from turnaround fund

Struggling auto parts maker Akebono Brake Industry Co. said Thursday it will receive ¥20 billion in fresh capital from Japan Industrial Solutions Co., a public-private corporate turnaround fund. To accelerate its business reconstruction, Akebono Brake will also accept an official from the fund as a ...

Tesco, Britain's biggest retailer, set to ax up to 9,000 jobs

Business Jan 29, 2019

Tesco, Britain's biggest retailer, set to ax up to 9,000 jobs

Britain's biggest retailer, supermarket group Tesco, said Monday that it planned to ax up to 9,000 jobs under the next stage of a vast restructuring program, as it continues to come up against increasing competition from German discount retailers Aldi and Lidl. Tesco, which employs ...

Toshiba says Westinghouse board to decide on bankruptcy

Business / Corporate Mar 23, 2017

Toshiba says Westinghouse board to decide on bankruptcy

Toshiba Corp. said the board of its nuclear unit Westinghouse will decide whether to file for bankruptcy, suggesting that is one option under consideration as it struggles with billions of dollars in liabilities from cost overruns on nuclear construction projects. "Whether or not Westinghouse files ...

Business / Corporate May 24, 2016

Sharp to keep solar panel business under Taiwan's Hon Hai

Sharp Corp. is set to retain its struggling solar panel business, judging that it can become profitable with the help of Taiwan's Hon Hai Precision Industry Co., according to an in-house document. In the document posted Monday on its website for employees, Sharp President Kozo ...

Business / Corporate Jan 29, 2016

Mitsui O.S.K. expects to sink into red ink for business 2015

Shipping giant Mitsui O.S.K. Lines Ltd. said Friday it will fall into the red in the business year ending in March after incurring huge restructuring costs amid deteriorating profitability on sluggish demand linked to China's economic slowdown. The company is forecasting a consolidated net loss ...