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November 24, 2024
 

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SoftBank Group is in talks to acquire Graphcore, a struggling British semiconductor startup.
BUSINESS / Companies
May 9, 2024

SoftBank said to be in talks to buy troubled AI chip firm Graphcore

Graphcore reported just $2.7 million in revenue for 2022, a 46% drop from the prior year, according to its latest financial report.
Hong Kong is looking to Saudi Arabia in efforts to attract a new set of investors to replace Western nations who may be deterred from doing business in China at a time of rising geopolitical tensions.
BUSINESS / Markets
May 9, 2024

Hong Kong woos Saudi money in attempt to revive stock market

Its bourse operator has been having a tough time in recent years amid a stuttering Chinese economy and saber-rattling by Beijing and Washington.
The United States Steel's plant in Braddock, Pennsylvania. Nippon Steel is sticking to its plan to close a deal by year-end to buy U.S. Steel.
BUSINESS / Companies
May 9, 2024

Japan's Nippon Steel sticks to plan to close U.S. Steel deal by year-end

The takeover should bring Nippon Steel's global crude steel capacity to 86 million tons per year, close to its goal of 100 million.
U.S. President Joe Biden meets with Vietnam President Vo Van Thuong in Hanoi on Sept. 11, 2023. During Biden's visit to Hanoi last year, the U.S. and Vietnam elevated ties to a comprehensive strategic partnership.
BUSINESS / Economy
May 9, 2024

Vietnam's China ties loom large in U.S. hearing on market economy upgrade

Opponents cite Beijing's outsized influence on Hanoi while proponents argue that denial of market economy status would push Vietnam closer to its neighbor.
A host promotes lipstick on TikTok Shop
BUSINESS / Tech / FOCUS
May 10, 2024

Livestream shopping foils high-tech tools from stopping counterfeits

The sheer volume of violations means e-commerce infringement enforcement can feel like a game of "whack-a-mole" for those who monitor the internet.
People in a shopping district in Tokyo in March
BUSINESS / Economy
May 10, 2024

Japan’s households cut outlays as inflation remains sticky

Real outlays decreased 1.2% in March from a year before, falling for the 13th consecutive month.
LY said in November that there had been unauthorized access of its systems by a third party via Naver's cloud system, causing the leak of the personal data records of more than 300,000 Line users and others.
BUSINESS / Companies
May 10, 2024

Naver exploring options including stake sale in Line operator

Naver apologized for a recent security breach that led the Japanese government to issue administrative guidance.
U.S. President Joe Biden touts the economic benefits of semiconductor investment at Intel’s Ocotillo Campus in Chandler, Arizona, on March 20.
BUSINESS / Tech
May 13, 2024

Global chips battle intensifies with $81 billion subsidy surge

The rush of funding has hardened battle lines in the U.S.-China trade war, including in nations like Japan.
Pending the offer’s success, I’rom Group will be delisted and Blackstone will own 55% of the company.
BUSINESS / Companies
May 13, 2024

Blackstone to take Japan drug trial firm private in management buyout

A tender offer will be made to acquire I’rom Group shares at ¥2,800 per share — a roughly 50% premium to Monday’s closing price of ¥1,873.
Natural gas burns on a domestic kitchen stove in London.
BUSINESS / Companies
May 14, 2024

As war stems Russian gas, Norway's Equinor gains outsized market impact

Norway now supplies 30% of Europe's gas, and roughly two-thirds of Norway's exports last year were sold by Equinor.
Rakuten logged its fifteenth consecutive quarter in the red due to losses at its mobile service network unit.
BUSINESS / Companies
May 14, 2024

Rakuten logs 15th quarter of losses on mobile woes despite record financial unit profit

While its number of mobile subscribers rose to 6.48 million at the end of March, average revenue per user increased only fractionally.
U.S. President Joe Biden speaks about new actions to protect American workers and businesses from China's "unfair" trade practices, in the Rose Garden of the White House in Washington on Tuesday.
BUSINESS / Economy / ANALYSIS
May 15, 2024

Who’s toughest on China? Biden’s tariff tactic ups ante as election looms.

U.S. president is seen to be trying to "outtrump Trump" to appeal to voters who worry about geopolitical competition or hold anti-China sentiments.
Japan's banks are benefiting from the Bank of Japan's policy shift and strong loan demand among their corporate clients.
BUSINESS / Companies
May 15, 2024

Japan’s biggest banks forecast record profits as rates rise

The banks are benefiting from an earnings boost following the Bank of Japan’s policy shift in March.
Japan's gross domestic product shrank at an annualized pace of 2% in the three months through March.
BUSINESS / Economy
May 16, 2024

Japan’s economy contracts as consumers and firms cut spending

Gross domestic product contracted at an annualized pace of 2% in the three months through March.
Strong sales of Prius hybrids are delivering a cash boost for Toyota to invest in fully-electric cars.
BUSINESS / Companies
May 16, 2024

Hybrids delivering cash chest for Toyota and Honda’s EV ambitions

With the shift to battery-electric vehicles clearly taking much longer than anticipated, consumers are voting for hybrids with their wallets.
Job-seekers line up for interviews at a job fair in Chinchwad, India, in 2019.
BUSINESS
May 16, 2024

After Cambodia crypto scam, Indians demand more jobs at home

Unemployment is a leading concern in the ongoing general election that ends on June 1.
A representative explains the features of the Afeela electric vehicle, a Honda-Sony Mobility concept car, at the CES 2024 trade show, in Las Vegas on Jan. 9. The Honda-Sony alliance plans to deliver its first EV model in the spring of 2026 in North America.
BUSINESS / Companies
May 16, 2024

Honda to double investment in electric vehicles and software

The automaker had planned to invest ¥5 trillion ($32.3 billion) for the 10 years through March 2031, but it now plans to spend ¥10 trillion by that point.
Toshiba is cutting up to 4,000 jobs and relocating its head office from Tokyo to Kawasaki as part of its restructuring efforts.
BUSINESS / Companies
May 16, 2024

Toshiba to cut 4,000 jobs in restructuring effort under new ownership

Toshiba delisted in December due to a ¥2 trillion takeover by a consortium led by a private equity firm, capping a decade of scandal and upheaval.
Nippon Steel, Japan’s top steelmaker, is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh next week where he’ll meet with local staff and elected officials.
BUSINESS / Companies
May 18, 2024

Nippon Steel boosts efforts to woo U.S. Steel workers and politicians

Japan’s top steelmaker is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh, where he’ll meet with local staff and elected officials.
Japan's digital trade deficit in 2023 was up about 2.6 times over nine years since 2014, as smartphones have become ubiquitous tools and the digital services sector is dominated by U.S. information technology giants.
BUSINESS / Economy
May 20, 2024

Japan's digital trade deficit continues to expand

The deficit in Japan's balance of payments in digital services continues to expand steadily.
Tesla is offering discounts and service improvements to appease European leasing companies upset by price cuts and repair issues.
BUSINESS / Companies
May 20, 2024

Tesla giving discounts to European fleet buyers in damage-control drive

After years of sharp growth, Tesla's global sales and profits are declining, with an 8.5% drop in deliveries during the first quarter, marking its first decrease in four years.
A Bank of Japan survey on firms nationwide showed that many of them do not expect to be able to hire enough workers if they keep wage growth low, and see an economy where wages and inflation rise in tandem as more favorable.
BUSINESS / Companies
May 20, 2024

Japan's manufacturers want BOJ to keep yen stable, survey shows

The survey on roughly 2,500 firms underscores the importance they place on yen moves in assessing the impact of monetary policy.
Norinchukin Bank is one of Japan’s largest institutional investors with a ¥55.9 trillion ($357 billion) securities portfolio, and bonds make up more than half of its investments.
BUSINESS / Companies
May 21, 2024

Norinchukin weighs $7.7 billion fundraise to cover bond loss

As a result of restructuring its securities portfolio, the Tokyo-based bank may book about ¥500 billion in losses for the current fiscal year, one source said.
The main targets of a new bill on smartphone software are the app stores provided by Google and Apple, as consumers effectively have only two choices for smartphone operating systems: Apple's iOS or Google’s Android.
BUSINESS / Tech
May 22, 2024

Japan aims to curb Apple and Google's smartphone app duopoly

A new bill would compel dominant platforms to allow third parties to launch their own app markets and to offer more payment options.
Kazuto Oku, CEO of Norinchukin Bank, during a news conference in Tokyo on Wednesday
BUSINESS / Companies
May 23, 2024

Failed bond bets at Norinchukin force it to change strategy

Given its ownership structure, there are limits on the bank’s investment options.
Service prices, a key component of Japan’s inflation data, may be sturdier than in the past.
BUSINESS / Economy
May 23, 2024

Steady and widening service price rises may spur BOJ’s next move

Service prices, a key component of Japan’s inflation data, may be sturdier than in the past.
Nvidia founder and CEO Jensen Huang delivers a keynote address on the latest innovations in AI, during a developers conference at the SAP Center in San Jose, California, on March 18. Nvidia on Wednesday issued a second-quarter revenue forecast of about $28 billion, topping the $26.8 billion predicted by analysts.
BUSINESS / Companies
May 23, 2024

Nvidia delivers on AI hype, igniting $140 billion stock rally

Its shares rose as much as 7.8% in extended trading on Wednesday, taking them above $1,000 for the first time.
Nomura Holdings Chief Executive Officer Kentaro Okuda
BUSINESS / Companies
May 24, 2024

Nomura pay for top executives rises 150% as profit rebounds

Total compensation paid to the firm’s eight executive officers in the year ended March 31 rose to ¥4.46 billion.
Japanese government bond yields have risen this month on hawkish hints from Bank of Japan officials, crossing 1% for the first time since April 2012.
BUSINESS / Markets
May 24, 2024

Japan's 10-year bond yield tops 1% for first time in a dozen years

The 10-year Japanese government bond yield inched up 0.5 basis point to 1.005%, its highest since April 2012.
Rakuten is working with eBay to market Japan's used fashion and accessories in the United States, taking advantage of the weak yen.
BUSINESS / Companies
May 24, 2024

Rakuten and eBay team up to test U.S. market for used Japanese fashion goods

The tie-up aims to capitalize on the currency effect and is also a move toward bargain hunting as cost-of-living pressures around the world crimp spending.
U.S. aircraft carrier returns to Japan carrying navy’s ‘most capable fighter’
U.S. 7th Fleet Commander Vice Adm. Fred Kacher speaks to reporters shortly after the arrival of aircraft carrier USS George Washington at Yokosuka naval base in Kanagawa Prefecture on Friday.
Tokyo police care for lost umbrellas, keys and flying squirrels
An employee at the Tokyo Metropolitan Police Department Lost and Found Center in the Iidabashi area of central Tokyo bags, tags and organizes thousands of items.
After Shohei Ohtani bump, Iwate ironware maker sees brighter future
Kaito Kikuchi's decision to send superstar Shohei Ohtani one of his company's traditional ironware tea kettles has paid off with a surge of interest from general consumers.
Japan approves ¥21.9 trillion stimulus plan
The policy chiefs of the Democratic Party for the People, Liberal Democratic Party and Komeito — Makoto Hamaguchi (left), Itsunori Onodera (center) and Mitsunari Okamoto — shake hands after reaching an agreement on an economic stimulus package on Wednesday.
Woman dies after train collides with car in Tochigi
A Moka Railway train car
133-year-old Kyushu railway station remains to be partially preserved
The remains of the original Moji Station in Kitakyushu
After Shohei Ohtani bump, Iwate ironware maker sees brighter future
Kaito Kikuchi's decision to send superstar Shohei Ohtani one of his company's traditional ironware tea kettles has paid off with a surge of interest from general consumers.
Shohei Ohtani wins National League MVP award
Shohei Ohtani celebrates after hitting a three-run home run against the Padres during the National League Division Series at Dodger Stadium in Los Angeles last month.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Construction takes place on the Takanawa Gateway Convention Center in Tokyo, slated to open in 2025.
A boom for business tourism in Japan?
By Kathryn Wortley

SUSTAINABLE JAPAN

mission sustainability vol.12 : Kose Corp.Kose takes pride in creating beauty in the world
mission sustainability vol.12 : Kose Corp.Kose takes pride in creating beauty in the world

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