Business

Japan's economy grows less than expected in third quarter

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Japanese growth slowed significantly in the third quarter of the year, according to government data released on Thursday, sparking concerns for the health of the world's third-biggest economy. The economy expanded 0.1 percent between July and September, a slowdown from the 0.4 percent seen in the previous period, and much… Read

Business

Toshiba reports best profit in two years

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Toshiba Corp posted its highest quarterly profit in two years on Wednesday and said it will buy out three of its listed subsidiaries as the industrial conglomerate moves on from accounting scandals and a management crisis. Toshiba reported a much stronger-than-expected operating profit of 44.23 billion yen ($405.41 million) for… Read

Business

Japan Tobacco halves price of reduced-risk cigarette starter kit

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Japan Tobacco is halving the price of starter kits for its Ploom S reduced-risk cigarettes, as it struggles to compete against rival Philip Morris International. Japan is the world's biggest market for "heat not burn" products, which emit less smoke than conventional cigarettes, as regular e-cigarettes with liquid nicotine are… Read

Business

Japan's top 3 steelmakers cut profit forecast on weak Asian markets

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The top three Japanese steelmakers reduced their annual profit forecasts this month as slumping steel prices in Asia eroded their export margins while slower auto demand overseas and falling usage in machinery at home forced them to cut output. The firms are suffering from a softening global economy hit by… Read

Business

Nissan slashes full-year forecast as first-half profit falls

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Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the U.S. and Europe, as well as fallout from the arrest of former boss Carlos Ghosn. Nissan downgraded its net profit forecast to 110 billion yen ($1 billion)… Read

Business

Lawson to open no-checkout store on trial basis in 2020

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Japanese convenience store operator Lawson Inc said Tuesday it will open a no-checkout store on a trial basis in 2020 to address labor shortage and overwork problems. Lawson President Sadanobu Takemasu revealed the plan to open the "Lawson Go" cashier-less store, similar to Amazon.com Inc's Amazon Go grocery store, at… Read

Business

New H&M tagline sparks outcry over gender violence association

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A new collection from fashion giant H&M has unleashed protests from women's rights campaigners because it includes the slogan "I love GBV", the initials of the designer but also a widely used acronym for gender-based violence. H&M said the slogan, emblazoned on hats, a necklace and boxer shorts with a… Read

Business

SBI Holdings, Fukushima Bank to form capital tie-up

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Japanese internet banking giant SBI Holdings Inc and Fukushima Bank Ltd will form a capital and strategic tie-up, with SBI taking a 17.91% stake in the regional lender, the companies said on Monday. Fukushima Bank will issue new shares to SBI for 222 yen each for a total investment of… Read

Business

Decline in machinery orders raises doubts about business spending

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Japan's machinery orders fell for a third straight month in September, raising doubts that business spending will be strong enough to offset external pressures, which have clouded the outlook for the export-reliant economy. Capital spending has been a bright spot for the world's third-largest economy, driven by refurbishing of aged… Read

Business

Chinese consumers spend billions in 'Singles' Day' shopping spree

5 Comments

Chinese customers spent billions of dollars during the opening hours of the country's annual "Singles' Day" frenzy Monday, the world's biggest 24-hour shopping event that was kicked off by U.S. megastar Taylor Swift. E-commerce giant Alibaba said the first $1 billion spent on its platforms was reached in just 68… Read

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