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Oct 30, 2013

Japan’s big manufacturers signal tentative willingness on wage hikes

TOKYO, Oct 30 (Reuters) – Japan’s big manufacturers, under
pressure from Prime Minister Shinzo Abe to boost wages and
create a “virtuous cycle” of growth to defeat deflation, are
showing signs they are willing to raise workers’ pay.

Abe’s reflationary policies to stimulate spending and
investment have boosted the fortunes of many corporations in
Japan, which is now the fastest growing of the G7 rich nations.

Oct 30, 2013

Honda profit up as U.S., Japan car sales offset Thai drop

TOKYO (Reuters) – Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) said strong car sales in the United States and Japan offset a slowdown in Thailand in the three months to September, helping the Japanese carmaker post a 46 percent growth in quarterly net profit.

Honda reported stronger-than-expected demand for its remodeled Fit subcompact that went on sale in Japan in September, a key model in its ambitious plans to boost global sales.

Oct 28, 2013

Toyota keeps top spot in auto sales rankings, outselling GM, VW

TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) kept its lead over rivals General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) this year, January-September global sales figures showed, as the Japanese carmaker closes in on a record annual profit.

Toyota’s groupwide sales totaled around 7.412 million vehicles, up 0.1 percent from the same period a year ago, the company said on Monday, as strong sales in the United States offset slowdowns in Thailand and China.

Oct 26, 2013

Mitsubishi Motors plans $2 bln share offer as early as Jan -sources

TOKYO, Oct 26 (Reuters) – Mitsubishi Motors Corp
plans to raise around $2 billion in a public share offering as
early as January to pay back top shareholders for a 2004 bailout
that enabled its decade-long turnaround, sources familiar with
the matter said on Saturday.

The capital raising will also allow the second-tier Japanese
automaker to pay dividends for the first time in nearly a decade
and a half. And it will maintain close equity ties to the
Mitsubishi group to meet the challenges of tightening
environmental standards and other technological advances while
it lacks a strategic automotive partner.

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.

    • 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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