Business
Nissan sees profit dip as sales fall, offsetting cost cuts
Japanese automaker Nissan reported Thursday an 8 percent fall in profit for the latest quarter as declining sales offset the benefits of cost cuts. Nissan's July-September profit totaled 130.4 billion yen ($1.1 billion) Thursday, down from 141.6 billion yen the same period a year earlier. Quarterly sales dipped nearly 3… Read
Subaru recalls 640,000 vehicles globally for stalling problems
Subaru is recalling about 640,000 vehicles worldwide to fix two problems that can cause them to stall. The first recall covers about 229,000 Outback and Legacy vehicles in the U.S. from the 2018 model year. Government documents say a software problem can stop the low-fuel warning light from illuminating and… Read
Toshiba to shed assets, cut 7,000 jobs over 5 years
Toshiba Corp is liquidating its British nuclear power unit and selling its U.S. liquefied natural gas (LNG) business, as the once-mighty industrial conglomerate seeks to unload troubled assets and regain investors' confidence. The plans are part of a new five-year business strategy Toshiba announced on Thursday, which also included 7,000… Read
Gov't to urge companies to curb use of microplastics
The Environment Ministry plans to urge companies to reduce the use of microplastics, amid heightened global concern over marine pollution. Under its updated policy that the ministry plans to compile by year-end, companies would be asked to curb the use of microbeads used in facewash and toothpaste. Restaurants and shops… Read
Starbucks partners with UberEats in Japan
Starbucks Corp plans to partner with UberEats to deliver coffee and food in Tokyo starting Friday, as the world's largest coffee chain looks to boost sales in Japan, one of its major Asia-Pacific markets. Starbucks has been facing intense competition in the United States and China, its two largest markets, and… Read
With U.S. absent, world's exporters turn attention to China
There is a notable no-show among the dozens of national pavilions at Shanghai's massive import fair -- the United States -- a metaphor for isolationist Trump policies that attendees say are pushing them closer to China. The China International Import Expo opened Monday with thousands of foreign companies wooing Chinese… Read
Japan to consider easing M&A rules as regional banks struggle
Japan's government has kicked off debate on changing antitrust rules to make it easier for regional banks to merge, as they struggle to generate profits due a declining population and a limited number of corporate borrowers. In a meeting of a government advisory panel discussing Japan's growth strategy, Prime Minister… Read
Takeda CEO confident of investor backing for $62 bil Shire deal
The boss of Japan's Takeda Pharmaceutical says he is confident of securing investor backing for its $62 billion acquisition of London-listed Shire, despite some shareholders' fears about the resulting debt burden. Buoyed by a strong set of quarterly results last week - helped by strong demand for its existing drugs… Read
Hermes keeps firm grip on China luxury market as sales soar
French fashion house Hermes reported Wednesday another quarter of brisk sales growth, propelled by red-hot demand in China, where the ultrachic brand expects further growth as it opens stores and rolls out online sales. The company said sales in the third quarter climbed 9.4 percent to 1.46 billion euros ($1.68… Read
Toyota quarterly profit rises on growing sales, cost cuts
Toyota Motor Corp reported a 28 percent surge in its net profit in the last quarter, helped by growing sales in Europe, Asia and the Americas, and raised its earnings forecast for the full year. The top Japanese automaker said Tuesday that its July-September profit totaled 585.1 billion yen ($5.2… Read
