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Jun 10, 2011

Toyota sees 35 percent profit slump after earthquake

TOKYO (Reuters) – Toyota Motor Corp said on Friday it expects operating profit this business year to fall 35 percent to 300 billion yen ($3.7 billion) after Japan’s biggest earthquake on record severely disrupted car production and slashed sales and a strengthening yen cut into overseas earnings.

The 9.0 magnitude earthquake that rocked northeastern Japan on March 11 forced Toyota and other Japanese automakers to cut output at home and abroad as they struggled to secure vital parts. The ensuing nuclear disaster and power shortages have compounded problems.

Jun 3, 2011

Lockheed Martin: willing to outsource F-35 production to Japan

TOKYO (Reuters) – Lockheed Martin (LMT.N: Quote, Profile, Research, Stock Buzz) is willing to outsource some production of its F-35 Joint Strike Fighter to Japanese firms if the country’s government decides to buy them as its next mainstay fighter aircraft, an executive at the U.S. company said on Friday.

Lockheed Martin is also confident it can complete operational tests by 2016 and meet delivery and technical requirements set by Japan’s Ministry of Defense, said John Balderston, who heads Lockheed’s F-35 campaign in Japan.

Mar 29, 2011

Japan mulls Tokyo Electric nationalization

TOKYO (Reuters) – Japan may nationalize Asia’s largest utility, Tokyo Electric Power (9501.T: Quote, Profile, Research, Stock Buzz), as it struggles with the financial costs of the country’s worst nuclear disaster, a move that would please bondholders but hurt shareholders who would likely lose out.

Imposing state management is one option that Japan is mulling, National Strategy Minister Koichiro Gemba said on Tuesday, as the costs of compensating businesses and households affected by leaking radiation and the expense of repairing crippled nuclear reactors looked set to soar.

Mar 29, 2011

Japan govt mulls Tokyo Electric nationalisation – media

TOKYO (Reuters) – The Japanese government could discuss a possible nationalisation of Tokyo Electric Power among other options to deal with the operator of the plant at the centre of the country’s nuclear disaster, a senior cabinet minister said on Tuesday.

The future of Asia’s largest utility has been questioned since the March 11 earthquake and tsunami struck its Fukushima Daiichi nuclear complex, causing it to leak radiation. Its shares have fallen 70 percent and the cost of insuring its debt against default has risen 10-fold.

Mar 29, 2011

Japan government mulls Tokyo Electric nationalization – media

TOKYO (Reuters) – The Japanese government could discuss a possible nationalization of Tokyo Electric Power among other options to deal with the operator of the plant at the center of the country’s nuclear disaster, a senior cabinet minister said on Tuesday.

The future of Asia’s largest utility has been questioned since the March 11 earthquake and tsunami struck its Fukushima Daiichi nuclear complex, causing it to leak radiation. Its shares have fallen 70 percent and the cost of insuring its debt against default has risen 10-fold.

Mar 21, 2011

Japan bank recovery in peril as quake to prolong ultra-low rates

TOKYO/SINGAPORE (Reuters) – The massive earthquake that struck Japan could make its banks hostage to another vicious cycle of low interest rates, hitting profit margins and derailing the sector’s recovery from the global financial crisis.

One immediate threat to bank earnings after the disaster comes from the plunge in stock markets. But longer term, the bigger risk is weakness in core domestic lending, as the Bank of Japan maintains its ultra-easy monetary policy for months and possibly years to come.

Mar 18, 2011

Supply concerns grow as Japan lacks parts, power

TOKYO/SEOUL (Reuters) – From Apple Inc’s new iPad to Chevrolet pick-ups, concern is spreading down the global manufacturing supply chain about the impact of Japan’s earthquake last week.

Plant shutdowns across Japan following the earthquake, tsunami and nuclear crisis threaten supplies of everything from semiconductors to car parts for manufacturers across the globe.

Mar 18, 2011

Supply concerns grow as Japan lacks parts, power, people

TOKYO/SEOUL (Reuters) – From Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) new iPad to Chevrolet pick-ups and many of the world’s airplane kitchens, concern is spreading down the global manufacturing supply chain about the impact from Japan’s earthquake last week.

Plant shutdowns across Japan following the earthquake, tsunami and nuclear crisis threaten supplies of everything from semiconductors to car parts to manufacturers across the globe.

Mar 18, 2011

$1 billion in settlements may be disrupted by glitch – Mizuho

TOKYO (Reuters) – Japan’s Mizuho Financial Group warned Friday that nearly $10 billion (6 billion pounds) worth of transactions could be disrupted by the failure of its computer systems after last week’s devastating earthquake, hobbling basic banking services for businesses and millions of Japanese.

Mizuho, Japan’s second-largest bank by assets, said its automatic teller machines, which first showed signs of trouble on Thursday, would be disabled until March 21. Internet banking services would also be down until that date.

Mar 18, 2011

Mizuho says nearly $1 bln settlements may be disrupted by glitch

TOKYO, March 18 (Reuters) – Japan’s Mizuho Financial Group
warned Friday that nearly $10 billion worth of transactions
could be disrupted by the failure of its computer systems after
last week’s devastating earthquake, hobbling basic banking
services for businesses and millions of Japanese.

Mizuho, Japan’s second-largest bank by assets, said its
automatic teller machines, which first showed signs of trouble
on Thursday, would be disabled until March 21. Internet banking
services would also be down until that date.

    • About Mariko

      "From Tokyo, Mariko covers daily news and deals involving Japanese real estate companies and airlines."
      Hometown:
      Tokyo
      Joined Reuters:
      2004
      Languages:
      Japanese and English
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