Isabel's Feed
Jan 30, 2012

Canon earnings outlook falters, president steps down

TOKYO, Jan 30 (Reuters) – Canon Inc’s
76-year-old chairman and CEO will take on the additional role of
president after the $60 billion Japanese camera and printer
maker forecast weak earnings growth and said its current
president was stepping down.

Like other export-focused Japanese manufacturers, Canon,
which makes 80 percent of its revenue overseas, has been hit by
a strong yen and a weak economy, on top of last year’s floods in
Thailand that closed a printer plant and ruptured supply lines.

Jan 27, 2012

Nintendo sees profit next year, but shares tumble

TOKYO (Reuters) – Nintendo President Satoru Iwata dismissed the idea that the age of the dedicated handheld games device was over and said he aimed to return the company to substantial profit in 2012/13, after it warned of its first ever operating loss this year.

Shares in Kyoto-based Nintendo Co Ltd tumbled nearly 8 percent to an 8-year low after it slashed its full-year guidance for the third time in 6 months, and analysts said the potential market for its products was shrinking rapidly.

Jan 27, 2012

Nintendo sees bigger loss as smartphones hit sales

TOKYO (Reuters) – Nintendo President Satoru Iwata dismissed the idea that the age of the dedicated handheld games device was over and said he aimed to return the company to substantial profit in 2012/13, after it warned of its first ever operating loss this year.

Shares in Kyoto-based Nintendo Co Ltd tumbled nearly 8 percent to an 8-year low after it slashed its full-year guidance for the third time in 6 months, and analysts said the potential market for its products was shrinking rapidly.

Jan 26, 2012

Elpida aims for Micron deal as early as next month

TOKYO (Reuters) – Japan’s Elpida Memory Inc (6665.T: Quote, Profile, Research, Stock Buzz) aims to reach a deal as early as next month for a capital infusion from Micron Technology (MU.O: Quote, Profile, Research, Stock Buzz), the Nikkei business daily said, as it confronts a punishing memory chip market and imminent debt repayments.

The two have yet to hammer out details on an equity tie-up, in which Elpida will eventually seek to include Taiwanese chipmaker Nanya Technology Corp’s (2408.TW: Quote, Profile, Research, Stock Buzz) parent, Formosa Plastics Group, the Nikkei said.

Jan 26, 2012

Nintendo Q3 profit slumps, guidance slashed

Jan 26 (Reuters) – Nintendo Co Ltd posted a
61 percent drop in quarterly operating profit on Thursday and
forecast a 45 billion yen ($580 million) operating loss for the
year to March, far worse than market expectations, hit by weak
sales and the strong yen.

The full-year operating loss will be the first since the
company started announcing earnings in their current form in
1981. The company blamed yen strength and weaker-than-expected
sales.

Jan 26, 2012

Elpida aims for Micron deal as early as next month -Nikkei

TOKYO, Jan 26 (Reuters) – Japan’s Elpida Memory Inc
aims to reach a deal as early as next month for a
capital infusion from Micron Technology, the Nikkei
business daily said, as it confronts a punishing memory chip
market and imminent debt repayments.

The two have yet to hammer out details on an equity tie-up,
in which Elpida will eventually seek to include Taiwanese
chipmaker Nanya Technology Corp’s parent, Formosa
Plastics Group, the Nikkei said.

Jan 24, 2012

Sony and Panasonic brace for grim earnings season

TOKYO (Reuters) – Sony Corp and rival Panasonic Corp are set to report a slump in quarterly earnings and may cut full-year forecasts after being hit by yen strength, Thai floods and consumer gloom in Europe during the vital pre-Christmas period.

Both companies saw their debt ratings downgraded by Moody’s Investor Services last week, as their TV divisions continue to bleed red ink despite restructuring efforts.

Jan 23, 2012

Sony top contender for Olympus equity tie: report

TOKYO (Reuters) – Sony Corp is the leading contender among firms jostling for an equity stake in Olympus Corp, Japanese business weekly Diamond reported on its website, as the scandal-hit medical equipment maker moves to shore up its finances.

Olympus may hold a news conference as early as this week on a possible tie-up with Sony, which would boost its existing 0.03 percent holding in the endoscope and camera maker to several percent, the magazine said.

Jan 23, 2012

Sony top contender for Olympus equity tie -magazine

TOKYO, Jan 23 (Reuters) – Sony Corp is the
leading contender among firms jostling for an equity stake in
Olympus Corp, Japanese business weekly Diamond reported
on its website, as the scandal-hit medical equipment maker moves
to shore up its finances.

Olympus may hold a news conference as early as this week on
a possible tie-up with Sony, which would boost its existing 0.03
percent holding in the endoscope and camera maker to several
percent, the magazine said.

Jan 20, 2012

Sony, Panasonic debt ratings cut on TV losses

TOKYO (Reuters) – Japan’s Sony and Panasonic both had their debt ratings downgraded on Friday by Moody’s Investors Service, which cited concerns about continued losses in their TV divisions, two weeks ahead of their earnings announcements.

Sony will find it hard to meet its target of pulling its TV division back into profit in the next two years amid harsh competition and the strong yen, despite pulling out of an LCD panel joint venture with Samsung Electronics, Moody’s said.