Business

Japan's export credit agency to lend $2 bil to Nissan for U.S. sales financing

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Japan’s state-owned export credit agency has agreed to give Nissan Motor Co up to $2 billion as part of a credit agreement to help it finance car sales in the United States. The money is part of a $4.1 billion credit agreement for Nissan Motor Acceptance Corporation, a unit of… Read

Business

Disney to lay off 32,000 U.S. workers in 2021

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Disney said Thursday it will cut 32,000 jobs in 2021, primarily from its U.S. theme parks division, an increase from layoffs announced in September. The company, which previously said it would cut 28,000 jobs, has struggled with the pandemic and social restrictions. According to a filing with the Securities and… Read

Business

Ikea to open third store in Tokyo next spring

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Ikea Retail Japan will open in Shinjuku next spring. This will be the third location in central Tokyo, following the launch of Ikea Harajuku and Ikea Shibuya in 2020. Located just five minutes on foot from JR Shinjuku Station, Ikea Shinjuku will offer home furnishings and products at affordable prices… Read

Business

Australia's Bega Cheese to buy Kirin's local dairy unit for $412 mil

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Australia's Bega Cheese Ltd. said on Thursday it will buy the local dairy assets of Japanese drinks giant Kirin Holdings Co Ltd for A$560 million ($412 million) to drive consolidation in Australia's fragmented dairy industry. Australia's top cheesemaker plans to raise A$401 million in equity to fund the purchase of… Read

Business

Nikkei ends at new 29-year high driven by high-tech stocks

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Tokyo stocks rose Thursday, with the Nikkei closing at a new 29-year high, as investors flocked to shares of technology companies after strong overnight gains in their U.S. peers. The 225-issue Nikkei Stock Average ended up 240.45 points, or 0.91 percent, from Wednesday at 26,537.31, its highest closing since April… Read

Business

Japan to give tax breaks for long-term foreign residents to attract financial experts

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Japan plans to implement tax incentives for long-term foreign residents as part of efforts to turn the country into a major international financial hub, government sources said Wednesday. Under the current system, Japan imposes an inheritance tax on foreigners' overseas assets if they live in the country for more than… Read

Business

Mitsui Sumitomo to invest $350 mil in U.S. insurance startup Hippo

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Mitsui Sumitomo Insurance Company, a subsidiary of Japan's MS&AD Insurance Group, will invest $350 million in U.S. home insurance technology company Hippo Enterprises to fund its next stage of growth, the companies said in a joint statement. Mitsui bought a convertible note in Hippo that will turn into an equity… Read

Business

Tokyo stocks end higher on Wall Street rally but gains pared

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Tokyo stocks ended higher Wednesday on upbeat U.S. shares overnight, but some earlier gains were pared on reports that the Tokyo metropolitan government is planning to ask restaurants serving alcohol to shorten their business hours for about three weeks as COVID-19 cases surge. The 225-issue Nikkei Stock Average ended up… Read

Business

Japan's ramen shops struggle to stay open as COVID hammers small firms

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Sixty-year-old Yashiro Haga is folding his Tokyo ramen shop after 15 years in December, unable to overcome the prospect of a lasting customer slump due to the coronavirus crisis. "The flow of people has changed due to the coronavirus," Haga said, standing behind the counter of his ground-floor shop, Shirohachi.… Read

Business

Nissan to sell redesigned Note compact car in Japan as it looks to restore profitability

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Nissan Motor Co Ltd on Tuesday said it will sell a redesigned version of its best-selling Note compact car in Japan from December featuring new hybrid drive technology, to win market share from Toyota Motor Corp and Honda Motor Co Ltd. The Note's first full model change in eight years… Read

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