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Oct 10, 2013

Toyota says slashes fuel cell costs by nearly $1 million for new hydrogen car

TOKYO (Reuters) – Toyota Motor Corp said it has slashed the cost of the fuel cell system in its next hydrogen-powered car by almost $1 million, putting it on course to launch a mid-sized sedan in 2015 with a price ticket below $100,000.

The world’s best-selling auto manufacturer and maker of the Prius gas-electric hybrid car says the fuel cell system will cost about 5 million yen ($51,000) compared with prototype costs of over $1 million.

Oct 3, 2013

Novartis overhauls Japanese unit after drug scandal

TOKYO (Reuters) – Novartis AG said on Thursday it had overhauled management operations and sanctioned key staff in Japan after a scandal involving research into its Diovan blood pressure drug in the country.

The Swiss company’s pharmaceutical head David Epstein said the episode would not have a significant impact on the group’s profits, although he acknowledged sales of the drug had fallen.

Sep 17, 2013

Eiji Toyoda, who helped steer Toyota’s rise, dies at 100

TOKYO (Reuters) – Eiji Toyoda, who helped steer Toyota Motor Corp’s global rise and pioneered the automaker’s vaunted production system, died on Tuesday, the Japanese automaker said. He was 100.

Toyoda, cousin of the automaker’s founder, died of heart failure in Toyota City, the company said in a statement.

Sep 16, 2013

New Mazda CEO says no discounts in drive to boost sales

TOKYO (Reuters) – Mazda Motor Corp (7261.T: Quote, Profile, Research, Stock Buzz) will hit its aggressive annual sales target of 1.7 million vehicles in three years without relying on discounts, its new chief executive said, helped by its new fuel-efficient technology and the yen’s depreciation.

In the global auto market with an annual demand of around 80 million vehicles, Mazda is a second-tier player that sells around 1.2 million vehicles a year.

Sep 16, 2013

Mazda to start selling new cars in Myanmar, CEO says

TOKYO (Reuters) – Mazda Motor Corp (7261.T: Quote, Profile, Research, Stock Buzz) will start selling new vehicles soon in Myanmar, its chief executive said, as carmakers rush to get a foothold in the country that until recently was under international economic sanctions.

As a part of a plan to sell cars in all member countries of the Association of Southeast Asian Nations (ASEAN), Mazda plans to send a range of vehicles to Myanmar rather than only sell low-grade models, Chief Executive Masamichi Kogai said.

Aug 20, 2013

Wrecked Fukushima storage tank leaking highly radioactive water

TOKYO (Reuters) – Contaminated water with dangerously high levels of radiation is leaking from a storage tank at Japan’s crippled Fukushima nuclear plant, the most serious setback to the clean up of the worst nuclear accident since Chernobyl.

The storage tank breach of about 300 tonnes of water is separate from contaminated water leaks reported in recent weeks, plant operator Tokyo Electric Power Co said on Tuesday.

Aug 20, 2013

Wrecked Fukushima plant springs highly radioactive water leak

TOKYO (Reuters) – Contaminated water with dangerously high levels of radiation is leaking from a storage tank at Japan’s crippled Fukushima nuclear plant, the most serious setback to the clean up of the worst nuclear accident since Chernobyl.

The storage tank breach of about 300 tons of water is separate from contaminated water leaks reported in recent weeks, plant operator Tokyo Electric Power Co said on Tuesday.

Aug 2, 2013

Toyota cautious on outlook after near-record quarterly profit

TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research) took a cautious stance on its profit outlook, worried over currency moves and a slowdown in Thailand and other emerging markets, even as healthy earnings on overseas sales lifted it to a near-record quarterly profit.

The world’s biggest carmaker trounced its rivals Volkswagen AG (VOWG_p.DE: Quote, Profile, Research) and General Motors Co (GM.N: Quote, Profile, Research) in earnings for the period as a weaker yen made exports more profitable and allowed Toyota to convert money made overseas at a more profitable rate.

Aug 2, 2013

Toyota raises profit outlook on weak yen, strong U.S. sales

TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) raised its operating profit forecast for the financial year ending March 2014 on Friday as the weaker yen makes exports more profitable and on the back of strong sales in its biggest market, the United States.

The world’s best-selling carmaker now expects to book 1.94 trillion yen ($19.55 billion) in annual operating profit, up from its previous forecast of 1.8 trillion yen.

Aug 1, 2013

Toyota, nearing record profit, slows in Southeast Asia

TOKYO (Reuters) – Toyota Motor Corp’s (7203.T: Quote, Profile, Research, Stock Buzz) slower-than-expected growth in Southeast Asia, its third biggest regional market, is becoming a headache as the world’s best-selling carmaker closes on its six-year-old profit record.

In ASEAN – the biggest market for Toyota after North America and Japan, overwhelming Europe or China – the company has been hurt by government policy swings in Thailand and Indonesia and underperformed industry-wide growth.

    • About Yoko

      "Based in Tokyo since 2007, I have been covering politics in the world's third-biggest economy, as well as Japan's nuclear disaster, energy issues and diplomacy."
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