OSAKA, Japan (Reuters) – In a darkened industrial hangar in eastern Osaka, Yoshihiro Yamanaka is tearing up the rule book that once made Japanese manufacturing the feared global standard of efficiency.
At Fuji Spring, a company with one factory, one product and 18 workers, Yamanaka has dimmed the lights, allowed inventories to pile up and – most strikingly – shut off an automated part of his assembly to do more jobs by hand.
TOKYO, May 18 (Reuters) – Japan urged businesses and
consumers in the western part of the country to cut power use by
15 percent or more this summer to cope with shortages after all
nuclear reactors shut down in the wake of the Fukushima crisis.
The government also said on Friday that it aimed to avoid
rolling blackouts in the region but would need to be prepared
just in case, stopping short of the mandatory limits imposed
last year in eastern Japan.
TOKYO, May 14 (Reuters) – The assembly in a western Japanese
town that hosts a nuclear plant agreed on Monday it was
necessary to restart two off-line reactors, its chairman said,
the first such nod since all the country’s stations were halted
after the Fukushima crisis.
With power shortages looming in the region when demand peaks
this summer, the central government has been trying to win
approval from towns and prefectures that host reactors. All 50
reactors are off-line since the last one shut down for
maintenance on May 5.
TOKYO, May 10 (Reuters) – Olympus Corp reported on
Thursday a key measure of capital cushion that was way below
levels considered healthy, keeping alive the possibility that
the scandal-tainted Japanese camera and endoscope maker may seek
to raise funds.
The company, valued at around $3.9 billion, is now under new
management, led by former engineer Hiroyuki Sasa, after
shareholders approved a new board in April to restore Olympus’
tarnished reputation following last year’s $1.7 billion
TOKYO (Reuters) – Tokyo Electric Power Co (9501.T: Quote, Profile, Research, Stock Buzz), Japan’s biggest utility and the owner of the devastated Fukushima nuclear plant, will be taken over by the government after the country’s trade minister on Wednesday approved a $12.5 billion capital injection.
The takeover, the details of which have widely reported in recent months, will avert the collapse of Tepco, the supplier of power to almost 45 million people in and around Tokyo.
TOKYO, May 9 (Reuters) – Japanese Trade Minister Yukio Edano
approved on Wednesday a business turnaround plan for Tokyo
Electric Power Co, the owner of the crippled Fukushima
nuclear plant, paving the way for the utility to be nationalised
in return for a 1 trillion yen ($12.5 billion) bailout.
A government takeover will avert the collapse of Tepco,
which supplies power to almost 45 million people in and around
Tokyo, and allows the state to push though reforms at a company
that downplayed the risks of natural disasters at its nuclear
stations and covered up safety lapses.
TOKYO, April 23 (Reuters) – Kansai Electric Power Co, the
Japanese utility most reliant on nuclear energy, might face a
power shortage of about 20 percent in July unless it can restart
reactors taken offline after the Fukushima crisis amid safety
concerns, the company warned on Monday.
Kansai Electric’s expected deficit was the highest among
four Japanese nuclear plant operators that forecast shortfalls
for the summer, when demand peaks.
TOKYO (Reuters) – Shareholders of Olympus Corp (7733.T: Quote, Profile, Research) approved a new board on Friday, hoping for a fresh start at the camera and medical device maker that hid $1.7 billion of investment losses in Japan’s biggest corporate scandal in decades.
At a sometimes rowdy extraordinary meeting in a Tokyo hotel, local institutional investors and Olympus’ lenders and suppliers voted for a new management slate and approved five years’ worth of restated company accounts.
TOKYO (Reuters) – Six months after the biggest scandal in corporate Japan for decades, shareholders of Olympus Corp (7733.T: Quote, Profile, Research, Stock Buzz) were set on Friday to vote in a new board that will cement ties with its bankers but raise questions among foreign investors over whether any lessons have been learnt.
At an extraordinary meeting, which some hope will draw a line under the scandal, Japanese institutions and Olympus’ lenders, suppliers and customers were expected to approve a raft of restated financial accounts and new management put forward by the current, discredited board, all 11 of whom are standing down.
TOKYO, April 19 (Reuters) – The months-long hunt for the
next chairman of Tokyo Electric Power Co ended on
Thursday after Kazuhiko Shimokobe, a lawyer with expertise in
turning around businesses and a member of the bailout body for
the firm, accepted an offer to run the operator of the crippled
Fukushima nuclear plant.
The decision paves the way for Tokyo Electric (Tepco) and
the government-backed bailout body to submit this month a
delayed business turnaround plan, which will outline how the
utility aims to revive its business in return for one of Japan’s
biggest public bailouts outside the banking sector.