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November 21, 2024
 

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CARMAKERS

Nissan Motor slashed its earnings outlook earlier this month and said it would cut 9,000 jobs and a fifth of its manufacturing capacity.
BUSINESS / Companies
Nov 21, 2024
Hedge fund Effissimo stirs speculation with its stake in Nissan Motor
News of the investment sent Nissan’s shares soaring 13% on Nov. 12.
Nissan has warned that missing a British government target on electric vehicles would lead to significant fines for manufacturers.
BUSINESS / Companies
Nov 21, 2024
Nissan urges U.K. to ease EV targets amid weak demand
A British mandate requires at least 22% of an automaker's new car sales in 2024 to be purely EVs, or they face hefty fines.
A Xiaomi SU7 electric vehicle on display at one of the company's stores in Shanghai on April 2
BUSINESS / Tech
Nov 18, 2024
China EV makers bet on self-driving models to fend off Tesla
Chinese electric car manufacturers say their advanced driving-assistance services — which can navigate highways or busy city streets — are coming very soon.
Former Nissan Chairman Carlos Ghosn poses during the opening of the Beirut Sports Festival in Beirut on May 23.
BUSINESS
Nov 16, 2024
French prosecutors request Carlos Ghosn and French minister stand trial
Ghosn's lawyers said he had learned about the request through media reports and challenged the legal basis of the legal procedures.
Nissan and its group firms have about $1.6 billion of debt due next year, a slight decrease from 2024, but that figure will jump to around $5.6 billion in 2026, the most in Bloomberg-compiled data going back to 1996.
BUSINESS / Companies
Nov 15, 2024
Nissan faces record debt bill with one year left to fix finances
The automaker and its group firms are seen having about $5.6 billion in debt due in 2026.
A fund controlled by Effissimo Capital Management has taken a stake in Nissan Motor.
BUSINESS / Companies
Nov 13, 2024
Nissan enters new era of turmoil as Effissimo takes stake
The big question is whether CEO Makoto Uchida can deliver a turnaround or be forced to make more drastic changes by an influential outsider.
Nissan’s filing said Suntera (Cayman) is the buyer of the 2.5% stake and listed Suntera as a trustee of ECM Master Fund.
BUSINESS / Companies
Nov 12, 2024
Nissan surges after firm linked to hedge fund takes 2.5% stake
The jump is a remarkable turnaround for Nissan’s stock, which plunged last week after the carmaker slashed jobs and said it would cut manufacturing capacity by a fifth.
Japan will urge automakers to make all new passenger cars biofuel-compatible by the early 2030s, with an action plan from the industry ministry expected next summer.
BUSINESS / Economy
Nov 12, 2024
Japan to aim for all new cars to be biofuel-compatible in 2030s
The ministry will adopt an action plan around next summer and also plans to support the necessary renovation of gas stations.
Japanese exporters could be hit by higher U.S. tariffs.
BUSINESS / Economy
Nov 11, 2024
Trump tariffs could have a significant impact on Japanese exports
The U.S. president-elect has promised 10% to 20% duties on all goods coming into the United States.
Sports motorbikes in various colors are sold at a Yamaha dealer in Chennai, India.
BUSINESS / Companies
Nov 11, 2024
Yamaha Motor targeting Generation Z in India
There is strong demand for motorcycles in the country of more than 1.4 billion people, and local automakers with cheap products command a sizable market share.
Toyota North America COO Jack Hollis said sales of all-electric vehicle should grow organically, without rules penalizing gas-powered car sales.
BUSINESS / Companies
Nov 11, 2024
Toyota executive lashes out at U.S. regulations promoting EV sales
The carmaker's North America COO, Jack Hollis, described them as "de facto mandates” out of sync with consumer demand.
A Toyota Motor car dealership in Mexico City in 2017
BUSINESS / Companies
Nov 10, 2024
Toyota to invest $1.45 billion in Mexico
The automaker will spend the money on production of next-generation models, including a hybrid version of the Tacoma pickup truck.
Nissan sees its operating income plunging to just ¥150 billion in the fiscal year ending in March, down 70% from its previous forecast.
BUSINESS / Companies
Nov 7, 2024
Nissan cuts outlook and announces restructuring with 9,000 job cuts
The firm sees its operating income plunging to ¥150 billion in the fiscal year ending in March, down 70% from its previous forecast.
Toyota posted its first quarterly profit drop in two years, as slowing sales and production volume stalled the world's top-selling automaker's recent record run.
BUSINESS / Companies
Nov 6, 2024
Toyota keeps profit outlook despite weakness in Japan and China
The carmaker showed signs of recovery from domestic scandals in Japan and major recalls in the United States.
The e Vitara is Suzuki's global strategic EV model, which will also be supplied to leading Japanese automaker Toyota Motor.
BUSINESS / Companies
Nov 5, 2024
Suzuki unveils first mass-market electric vehicle
The model, the e Vitara SUV, will be launched in Japan, Europe and India starting around the summer of 2025.
Toyota is expected to report a 14% year-on-year operating profit decline in July-September, to ¥1.2 trillion ($7.9 billion), according to an average estimate by analysts.
BUSINESS / Companies
Nov 5, 2024
Toyota to post first profit drop in 2 years as demand cools after big run
Toyota is expected to report a 14% year-on-year operating profit decline in July-September, to ¥1.2 trillion ($7.9 billion), according to an average estimate by analysts.
New cars parked at Yantai port, in eastern China's Shandong province, on Oct. 21
BUSINESS / Economy
Oct 31, 2024
China tells carmakers to halt investment in some EU states, sources say
New EU tariffs on Chinese-built electric vehicles have prompted retaliation from Beijing.
Maruti Suzuki, which is majority-owned by Suzuki Motor, will begin production of a new EV from spring 2025 at its plant in the western Indian state of Gujarat.
BUSINESS / Companies
Oct 30, 2024
Toyota to get Suzuki's first-ever EV as partnership expands
Maruti Suzuki, which is majority-owned by Suzuki, will begin production of the EV from spring 2025 in Gujarat, India.
The Xiaomi SU7 Ultra on stage during its launch in Beijing on Tuesday. The Chinese tech company made its foray into the EV industry earlier this year.
BUSINESS / Companies
Oct 30, 2024
Xiaomi launches faster version of flagship EV in a challenge to Tesla
Xiaomi entered China's crowded EV market in March with the launch of its hit SU7.
Toyota's worldwide production fell for an eighth straight month in September, as both sales and output declined in its two biggest markets, the United States and China.
BUSINESS / Companies
Oct 30, 2024
Toyota sales fall in Japan and China, as hybrid demand grows in U.S.
Toyota’s sales in Japan shrank nearly 17% this year between January and September.
Ishiba delays meeting with Trump, citing legal restrictions
Prime Minister Shigeru Ishiba waves upon arrival for the Asia-Pacific Economic Cooperation forum, in Callao, Peru, on Friday.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Rising sex tourism exposes loopholes in Japan's anti-prostitution law
While financial misfortunes during the COVID-19 pandemic may have driven some women to work the streets, others simply want more money to spend — or want to pay off their debts — at host clubs.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
Ruling coalition and DPP strike last-minute deal over economic policy
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
Japanese expats in Asia find community through rugby
The Taiwan Fivewoods celebrate their victory at the 2023 Asian Japanese Rugby Cup in December of last year.
In Fukushima, a weekend of prose, poetry and translation
Aomori-based writer JJ Carter presented on tabletop gaming as creative inspiration for building characters and narratives.
For Dr. Nakamats, aging is just experience in action
Though he didn't win the recent gubernatorial election in Tokyo, the 96-year-old Dr. Nakamats' run was seen as inspirational in Japan's aging society.

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