TOKYO (Reuters) – In ageing Japan, retailers are waking up to a hot new demographic: foreign visitors.
Driven by government tourism promotions and lately a weaker yen, the number of inbound travelers has quietly doubled in the past decade to top 10 million for the first time last year. In 2013, they spent $14 billion on everything from powdered green tea to Prada handbags, to rare, red-coral rings.
TOKYO (Reuters) – Last Christmas Eve, Ririko Saito and her 11-year-old daughter gathered some plastic bottles, pots and a kettle and made several trips to a nearby park to get water. Their utility had just turned off the tap after months of unpaid bills.
“I was going to take care of it as soon as I got my paycheck in a few days,” the 49-year-old single mother said. “I figured they wouldn’t be so callous to cut us off at that time of year. I figured wrong.”
TOKYO, May 14 (Reuters) – Ask Yukihiro Katsuta what anyone
could possibly need for sartorial comfort beyond heat-generating
innerwear in winter and a breezy, cooling undershirt in summer
and he’ll tell you that Uniqlo, the Japanese casual-wear brand,
is just getting started.
“I want about 15 ‘brands’ like that,” the head of research
and design at Uniqlo said, referring to the hot-selling Heattech
thermal line and the silky, feather-weight Airism series, the
latter of which earned the status last year as a strategic
stand-alone brand within the Uniqlo universe.
TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz), in its second-largest recall announcement, said on Wednesday that it would call back 6.39 million vehicles globally, and analysts saw automakers increasingly turning to recalls rather than risk bad publicity or legal costs.
Rival General Motors Co is in the midst of its own recall of 2.6 million cars related to an ignition switch problem, which has been linked to at least 13 deaths.
TOKYO (Reuters) – Toyota Motor Corp, in its second-largest recall announcement, said on Wednesday that it would call back 6.39 million vehicles globally after uncovering five different faults involving parts ranging from steering to seats.
The world’s biggest automaker said it was not aware of any crashes or injuries caused by the glitches, which were found in 27 Toyota models including the RAV4 and Yaris subcompact.
TOKYO, April 8 (Reuters) – The rise in Japan’s sales tax to
8 percent that took effect last week has driven a boom-and-bust
in sales of high-priced items like jewellery but passed with
little impact on sales of daily necessities, two leading
Japanese retailers said on Tuesday.
Takashimaya Co, Japan’s third-biggest department
store operator, said the last-minute rush of demand in March had
been stronger than the company anticipated, especially for items
like watches, jewellery and luxury brands. As a result,
Takashima sees a pullback in sales starting this month that will
continue through summer, the company’s president said.
TOKYO/MUMBAI (Reuters) – India’s Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion (1.9 billion pounds), betting it can fix factory quality glitches that plagued the current owner, Japan’s Daiichi Sankyo Co, and got Ranbaxy India-made drugs barred from the United States.
The all-share transaction, the biggest pharmaceutical sector deal in the Asia-Pacific region this year, will create the world’s fifth-largest maker of generic drugs. The acquisition comes as the pace of consolidation increases in a market that’s primed for growth in the U.S. and emerging markets and could be worth $335 billion globally by 2017, according to Lucintel.
TOKYO (Reuters) – Sun Pharmaceutical Industries Ltd (SUN.NS: Quote, Profile, Research) said it will buy Ranbaxy Laboratories Ltd (RANB.NS: Quote, Profile, Research) in a $3.2 billion all-share deal, creating the world’s fifth-largest generic drug maker from two firms struggling with quality issues in the lucrative United States market.
Ranbaxy, India’s biggest drugmaker by sales and 63.4 percent owned by Japan’s Daiichi Sankyo Co Ltd, is banned from exporting drug ingredients to the U.S. Sun Pharmaceutical’s Karkhadi plant is also barred from shipping products by the U.S. Food and Drug Administration.
TOKYO, April 7 (Reuters) – India’s Sun Pharmaceutical
Industries Ltd said it will buy Ranbaxy Laboratories
Ltd in a $3.2 billion all-share deal, creating the
world’s fifth-largest generic drug maker from two firms
struggling with quality issues in the lucrative United States
Ranbaxy, India’s biggest drugmaker by sales and 63.4 percent
owned by Japan’s Daiichi Sankyo Co Ltd, is banned from
exporting drug ingredients to the U.S. Sun Pharmaceutical’s
Karkhadi plant is also barred from shipping products by the U.S.
Food and Drug Administration.
TOKYO (Reuters) – Partners Toshiba Corp of Japan and SanDisk Corp of the United States separately filed civil lawsuits against South Korea’s SK Hynix Inc, seeking damages over the suspected theft of data related to their flagship flash memory chip technology used in smartphones and tablet computers.
SK Hynix said on Friday it had not yet received the litigation and had no comment to make. Hynix competes with both Toshiba and SanDisk, partners in flash memory technology for nearly 15 years, in supplying chips to device makers.