Business

Toshiba to spin off 4 key operations

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Toshiba Corp said Monday it will spin off four key operations including its infrastructure systems to keep its shaky financial standing from affecting its healthy businesses. Roughly 24,000 of some 30,000 Toshiba employees are likely to be transferred to the newly established companies. Engineers in the research and development division… Read

Business

Japan steel industry head says concerned by Trump 'protectionism'

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Japan Iron and Steel Federation chairman Kosei Shindo said on Monday he has strong concerns over "protectionism" by U.S. President Donald Trump. "We will carefully observe the U.S. trade probe against imported steel," Shindo, who is also president of Nippon Steel & Sumitomo Metal Corp, told a news conference. Trump… Read

Business

Global investment banks beef up transaction business in Asia

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With dealmaking in Asia sluggish and Chinese investment banks taking market share from global rivals, some foreign banks are ploughing resources into transaction banking, the workaday business of financing trade, managing cash and facilitating payments. At a time of growing intra-regional trade in Asia, the largest trading region in the… Read

Business

Fujifilm delays earnings report over NZ unit accounting problems

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Fujifilm is delaying the release of its financial results as it probes accounting irregularities at a New Zealand unit, raising fears Japan Inc is headed for another embarrassing accounting scandal. The company said it is setting up an independent committee of outside experts to look into the "appropriateness of accounting… Read

Business

Investors push for more info on lobbying at U.S. companies

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Dozens of major U.S. companies are facing shareholder votes this spring that seek to require more disclosure about political lobbying, as activists demand greater corporate transparency. Votes are set to take place at more than 40 annual meetings, including those for Boeing, Wells Fargo, Ford, General Electric and Facebook. The… Read

Business

GM plans to launch 10 electric cars in China by 2020

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General Motors Co. plans to launch 10 electric and gasoline-electric hybrid vehicles in China by 2020, an executive said, as automakers speed up the rollout of alternative vehicles under pressure from Beijing to promote the industry. GM will start production of a pure-electric model in China within two years, Matt… Read

Business

Japan Inc braces for labor reform

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Japan's plans to implement more employee-friendly laws are set to prove painful for many companies, with half saying labor costs will rise and two-thirds considering ways to lift productivity to offset the impact of the reforms, a Reuters poll showed. Prime Minister Shinzo Abe's government last month endorsed an action… Read

Business

Ricoh sets 100% clean energy target as part of RE100 initiative

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Office equipment maker Ricoh Co has become the first Japanese company to join RE100, a global initiative that encourages businesses to use 100% renewable energy in an effort to reduce climate-damaging emissions, company officials said. Ricoh plans to retrofit all its offices and factories at home and abroad to make… Read

Business

Sony nearly triples annual profit forecast

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Sony on Friday nearly tripled its annual net profit forecast, citing lower-than-expected costs in its chip business and other divisions, including the PlayStation games business. The Tokyo-based firm is now expecting net profit of 73 billion yen ($668 million) for the fiscal year to March, well up from its last… Read

Business

Beyond China, carmakers seek new drivers of Asian growth

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Southeast Asia's potential beckons as global automakers look beyond China's massive market to extend their sales boom in the region, but executives say they face a struggle to match the explosive Chinese growth. Chinese passenger-car sales have quadrupled over the past 10 years to 24.38 million last year, having become… Read