NEWSWORTHY
Japan shifts toward digital storage of records after Moritomo, SDF and other scandals
The government plans to shift toward digital management of most public records by the time the new National Archives of Japan building opens in fiscal 2026, aiming to prevent the record management scandals that have plagued the Abe government. Such scandals include the Finance Ministry's ...
Nissan CEO Hiroto Saikawa won't be charged over Ghosn's underreported pay, sources say
Prosecutors have decided not to indict Nissan Motor Co. CEO Hiroto Saikawa for his involvement in the alleged underreporting of former Chairman Carlos Ghosn's remuneration, sources close to the matter said Friday. A man in Tokyo had filed a complaint, alleging that Saikawa violated the ...
EU fines Japan's MUFG and four U.S. and British banks €1.07 billion over forex cartel
The European Union on Thursday fined MUFG Bank and four major British and U.S. banks a total of €1.07 billion (¥131 billion; $1.2 billion) for rigging the spot foreign exchange market for 11 currencies. The European Commission, the executive organ of the European Union, found ...
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 ...
Nissan to keep Hiroto Saikawa as CEO and name Renault chief Thierry Bollore to board, say sources
Nissan Motor Co. plans to keep Hiroto Saikawa as its CEO and newly appoint Thierry Bollore, CEO of its alliance partner Renault SA, to its board, pending shareholder approval in June, sources said Thursday. In a management revamp following the arrest of former Chairman Carlos ...
Embattled Japanese regional lender Suruga reportedly to tie up with Shinsei Bank
Struggling regional lender Suruga Bank is seeking support from Shinsei Bank, according to sources with knowledge of the matter. A comprehensive tie-up between the two, including a capital partnership, will be announced as soon as Wednesday, the sources said Monday. The tie-up is expected to help ...
Lawyer for Ghosn says ex-Nissan boss received no money via Oman in bank accounts
Former Nissan Motor Co. Chairman Carlos Ghosn did not receive any money sent by the automaker through Oman to his personal accounts, according to his lawyer. "He doesn't have a company, he doesn't control a company there, formally or effectively," Junichiro Hironaka, the former global ...
With Carlos Ghosn out of picture, questions loom for Nissan amid falling sales and profits
Nissan is seeing sales volumes fall and profits tumble as its once revered former chairman, Carlos Ghosn, awaits trial on charges of financial misconduct. Nissan Motor Co. says it is beefing up corporate governance and sticking with its alliance with French partner Renault SA and ...
Carlos Ghosn's successor, Hiroto Saikawa, under siege from within as Nissan profit sinks
Nissan chief Hiroto Saikawa finds himself under pressure from several angles, including a drop in company profits and slumping U.S. sales.
IHI vows to improve product safety in wake of jet engine inspection scandal
IHI Corp. said Friday it will boost steps to ensure product safety after an inspection scandal revealed that jet engines and parts it made had been given improper inspections for a decade. The supplier to aviation giants Boeing Co. and Airbus S.A.S said one of ...
Nissan to lower midterm sales goal, sources say, in shift from Ghosn's expansionary policy
Nissan Motor Co. is planning to lower its midterm sales goal, in an apparent pivot from former Chairman Carlos Ghosn's expansionary policy, sources with knowledge of the matter said Thursday. The automaker is expected to announce the downward revision on Tuesday, when it is scheduled ...
Foreign institutional investors in Lixil Group Corp. said Thursday they have withdrawn their request for an extraordinary shareholders meeting that was based on a proposal to dismiss Chairman Yoichiro Ushioda, after the chairman announced his intention to quit. In the request the four investors, including ...
