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May 01, 2024
 

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SUMITOMO

BUSINESS / Companies
Apr 26, 2019
Trading house Sumitomo to manage Japan-financed special economic zone near Dhaka
Major trading house Sumitomo Corp. will manage a special economic zone financed by Tokyo and expected to open near the Bangladesh capital, Dhaka, in early 2022, according to the Japan International Cooperation Agency (JICA), the government's development aid arm.
Japan Times
BUSINESS / Companies
Apr 4, 2019
Toshiba Memory to draw ¥1.3 trillion in bank loans before going public
Toshiba Memory Holdings Corp. is set to draw a total of ¥1.3 trillion ($11.7 billion) in loans from four Japanese banks, sources familiar with the situation said late on Wednesday.
Japan Times
BUSINESS
Apr 1, 2019
Nippon Steel & Sumitomo Metal adopts 'inclusive' trade name minus second part of its official moniker
Nippon Steel & Sumitomo Metal Corp., the world's third-biggest steelmaker, changed its name to Nippon Steel Corp. on Monday to start afresh with an "inclusive" trade name as it aims to further expand overseas operations.
JAPAN / Crime & Legal
Feb 15, 2019
South Korean lawyers to start sale of Nippon Steel's assets over wartime labor
Lawyers visiting from South Korea say they will soon liquidate assets seized from Nippon Steel and Sumitomo Metal Corp. in a wartime labor ruling to compensate the four plaintiffs.
Japan Times
JAPAN
Feb 14, 2019
South Korea plaintiffs eye liquidating assets seized over wartime labor case
A lawyer for South Korean plaintiffs who won a wartime forced labor case against Japanese steel-maker Nippon Steel & Sumitomo Metal Corp. last year indicated Thursday they will soon begin the process of liquidating the company's seized assets, possibly by the end of February, to secure compensation if it continues refusing to hold talks with them.
BUSINESS / Companies
Feb 5, 2019
With new Kinto firm, Toyota gears up for more leasing as car ownership in Japan goes into reverse
Toyota Motor Corp. said Tuesday it has set up a new company with a Sumitomo Corp. affiliate to launch auto-leasing services to individual customers, in response to consumers who are shifting away from owning cars.
Japan Times
BUSINESS / Companies
Jan 11, 2019
Next Nippon Steel chief Eiji Hashimoto aspires to secure top global spot
Nippon Steel & Sumitomo Metal Corp.'s Executive Vice President Eiji Hashimoto expressed his ambition to make his company the world's top steel-maker after being appointed to become the next chief of the Japanese steel giant on Thursday.
Japan Times
JAPAN / Politics
Jan 9, 2019
Japan seeks talks with South Korea on asset seizure after forced labor ruling
The Foreign Ministry summons South Korea's ambassador after a South Korean court approved the seizure of Nippon Steel assets for failing to comply with a court order on wartime forced labor.
JAPAN / Crime & Legal
Jan 2, 2019
South Korean forced labor plaintiffs seek Nippon Steel asset seizure
Lawyers representing South Korean plaintiffs in a wartime forced labor case said they have launched procedures to seize South Korean assets of Japanese steelmaking giant Nippon Steel & Sumitomo Metal Corp., according to an official statement released Wednesday.
Japan Times
JAPAN
Dec 24, 2018
Civic group proceeds with seizure of Nippon Steel assets in S. Korea over forced labor ruling, after firm ignores deadline
A civic group supporting South Korean plaintiffs who secured a ruling against Nippon Steel & Sumitomo Metal Corp. over wartime forced labor has said it will proceed with steps to seize the steel giant's South Korean assets after the firm ignored a Dec. 24 deadline.
Japan Times
JAPAN
Dec 4, 2018
Lawyers in South Korean wartime labor case set deadline for response from Nippon Steel & Sumitomo Metal
Lawyers representing South Korean plaintiffs in a World War II labor court case against Japan's Nippon Steel & Sumitomo Metal Corp. have set a Dec. 24 deadline for the firm to show willingness to discuss a court verdict on compensation.
Japan Times
JAPAN
Nov 12, 2018
South Korean lawyers representing wartime laborers rebuffed by Nippon Steel in Tokyo
Their attempt to sit down with the mill's executives in Tokyo did not go well.
Japan Times
BUSINESS / Companies
Oct 25, 2018
More common in moon rocks, the metal scandium could transform planes and cars
There's an unexpected benefit from the boom in battery metals mining — it's going to boost production of scandium, an obscure element whose long-held promise to transform manufacturing of planes and cars has been stalled by a lack of supply.
Japan Times
BUSINESS / Companies
Oct 23, 2018
Toyota and Mazda look to integrate automobile loan units
Toyota Motor Corp. and Mazda Motor Corp. are considering integrating their automobile sales loan businesses in a deeper capital tie-up to cut costs amid the shrinking domestic market, sources close to the matter said Tuesday.
BUSINESS / Companies
Aug 14, 2018
Nippon Steel to boost output of automotive flat sheets in Indonesia
Nippon Steel & Sumitomo Metal Corp. will step up local production of automotive flat steel products in Indonesia to meet growing demand from Southeast Asia's largest auto market.
BUSINESS / Companies
May 23, 2018
Mitsui Sumitomo to buy 37.5% stake in Chinese life insurer
Mitsui Sumitomo Insurance Co. said Wednesday it will buy a 37.5 percent stake in a medium-sized Chinese life insurance company for 4.33 billion yuan ($675 million) to tap the world's third-largest insurance market.
Japan Times
BUSINESS / Companies
May 16, 2018
NSSMC to change name to Nippon Steel next year as it prepares for global competition
Nippon Steel & Sumitomo Metal Corp. (NSSMC) will change its name to Nippon Steel Corp. next April as the group pushes ahead with streamlining, the company said.
Japan Times
BUSINESS / Companies
Mar 24, 2018
Mega-banks to slash new hires in spring 2019 as ultralow interest rates take toll
Japan's three mega-banking groups plan to hire fewer new graduates in April 2019, it was learned Saturday.
Japan Times
BUSINESS / Companies
Nov 10, 2017
Japan's biggest banks prepare for massive downsizing and cost overhauls
Years of shrinking interest rates, demographic challenges and threats from rapidly advancing technology are finally coming to a head at Japan's biggest banks as they prepare to eliminate thousands of positions and downsize branches.
BUSINESS / Companies
Oct 13, 2017
Sumitomo Forestry plans luxury condo development in Bangkok with local developer
Sumitomo Forestry Co. is entering into housing development in Thailand through a joint project with a local developer, aiming to capitalize on growing demand for condominiums in Bangkok and to expand its overseas business.
'So hot you can't breathe': Extreme heat hits the Philippines
A pedestrian cools himself with a folding hand fan as he waits for a ride along a road in Manila on Wednesday, as extreme heat hit the Philippines.
Yen rebounds strongly after first slide past ¥160 since 1990
The yen dropped to ¥160.245 per dollar on Monday before heading into the other direction to ¥155.01 amid speculation of an intervention by Japanese currency authorities.
Did Japan intervene to prop up the yen? Analysts think it did.
A man walks past an electronic board displaying the exchange rate for the yen against the U.S. dollar (right) in Tokyo on Tuesday.
JAL cancels international flight after captain gets drunk at Dallas hotel
A Japan Airlines' flight from Dallas to Tokyo was canceled last week after its captain got drunk at a local hotel.
Golden Week crowds greeted with high temperatures as holiday period kicks off
The departure lobby for domestic flights is crowded with travelers at Haneda Airport in Tokyo on Saturday, the first day of this year's Golden Week holidays.
Climate change, chalky grains and the risks for Japan’s rice farmers
A farmer plants seedlings in Satsumasendai, Kagoshima Prefecture. Japan’s self sufficiency rate for rice is nearly 100%, compared with 38% for food overall, on a calorie basis.
Japan wants you to spend more with ‘luxury tourism’
Performers play a traditional drum unique to Wajima, Ishikawa Prefecture, in the prefectural capital of Kanazawa on March 16 to mark the extension of the Hokuriku Shinkansen line to Tsuruga Station in Fukui Prefecture.
Theaster Gates’ ambitious ‘Afro-Mingei’ brings Black Chicago to Tokyo
Theaster Gates' “A Heavenly Chord” lines up church pews before seven speakers and a Hammond B3 organ, a type of electric organ prevalent in Black American churches.
Casa del Cibo: A thriving jewel born from Tohoku’s harsh past
When chef Ryohei Ikemi moved to Hachinohe, Aomori Prefecture, and opened Casa del Cibo in 2011, it was the first proper Italian restaurant in the city.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.

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