Business
Popular Japanese pub chain shuts 20% of its locations due to virus
The Japanese owner of several popular pub chains said it was shutting down 20% of its bars in Tokyo, saying the latest lockdown measures made it difficult to keep them open. Monteroza, which owns the Shirokiya and Uotami pub chains known for their inexpensive food and all-you-can-drink menus, said it… Read
9,500 JR Central employees to take leave due to declining travel demand
Central Japan Railway Co said Friday about 9,500 employees will take several days off in the period between Jan 25 and the end of February, as travel demand has declined amid a resurgence of coronavirus infections. The railway company, which operates shinkansen (bullet train) services connecting Tokyo and Osaka, decided… Read
Novavax bosses cash out for $46 mil with COVID-19 vaccine trials still under way
Top executives at U.S. pharmaceutical company Novavax Inc aren't waiting to see how well their COVID-19 vaccine works before they reap the financial rewards. Chief Executive Stanley Erck and three of his top lieutenants have sold roughly $46 million of company stock since the start of last year, according to… Read
Uniqlo owner Fast Retailing's operating profit beats pre-pandemic level
The owner of Japanese clothing chain Uniqlo said on Thursday its quarterly operating profit beat pre-pandemic levels, boosted by China's resurgence and solid demand for comfortable clothing such as stretchy jogging pants. Fast Retailing's profit in the three months through November rose to 113.1 billion yen ($1.09 billion), up 23%… Read
Toyota to pay $180 mil in U.S. for failing to report emissions defects
Toyota will pay $180 million to settle U.S. government allegations that it failed to report and fix pollution control defects in its vehicles for a decade. The company also agreed in court to investigate future emissions-related defects quickly and report them to the U.S. Environmental Protection Agency in a timely… Read
U.S. weekly jobless claims jump on COVID-19, renewed supplementary payments
The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as a worsening COVID-19 pandemic disrupts operations at restaurants and other businesses. The larger-than-expected increase in weekly unemployment claims reported by the Labor Department on Thursday was seen by some… Read
Universal Studios Japan delays Nintendo area opening due to state of emergency
Universal Studios Japan said on Thursday it would postpone the opening of its Super Nintendo World area from a scheduled date of Feb 4 until after the lifting of a state of emergency in the Osaka Prefecture. On Wednesday Japan widened the emergency beyond Tokyo, the capital, to seven more… Read
Corporate bankruptcies in 2020 fall to 31-year low with gov't aid
The number of corporate bankruptcies in Japan dropped to the lowest in 31 years in 2020, aided by government financial support amid the novel coronavirus pandemic, data released by a credit research company showed Wednesday. Business failures with debts of at least 10 million yen fell 7.3 percent from 2019… Read
Honda to temporarily halt UK car output due to COVID-related supply issues
Japanese carmaker Honda said Wdnesday it would halt output at its British factory from Monday to Thursday next week due to COVID-19 related global supply chain issues, the latest production suspension in recent weeks. "The situation is currently being monitored with a view to re-start production on Friday 22 January,"… Read
China's 2020 auto sales fall for third year amid coronavirus
China's sales of SUVs, minivans and sedans fell for a third year in 2020 as the coronavirus hurt already weak demand in the industry's top global market, an industry group reported Wednesday. Sales declined 6% compared with 2019 to 20.2 million, according to the China Association of Automobile Manufacturers. Sales… Read
