Page 45 - Japan

Japan's Softbank's vision fund swaps splashy bets for 'timid' investing

Vision Fund II, which was launched in 2019, relies entirely on SoftBank money, a pool of capital that's expanded tremendously in the past week thanks to the company's majority ownership of Arm Holding

Japan growth data set to confirm its slip to 4th-largest economy last year

While the economy is seen returning to annualized growth of 1.2% in the fourth quarter after a bruising contraction in the summer

Bridgestone appoints Hiroshi Yoshizane as head of India operations

Japanese tyremaker Bridgestone on Monday announced the appointment of Hiroshi Yoshizane as its new Managing Director for India. He succeeds Stefano Sanchini, who will be moving into the role of VP of Consumer Replacement for Europe, Bridgestone India said. Yoshizane, who moves to the new role from Bridgestone Japan, is the third MD of Bridgestone's India operations in a little over one year. Sanchini had in January last year assumed the position from then-incumbent Parag Satpute. Earlier, Yoshizane served as executive vice president of solution business, retail, and service business in Bridgestone Tire Solution Japan Co Ltd, the company said. "India is a strategic, evolving, and growth market for Bridgestone, with a unique set of opportunities and challenges, as the country's automotive sector is poised for major advances both in terms of numbers and technology," said Yoshizane. The development follows Bridgestone Corporation's recent announcement regarding the global reorganisat

Honda results: Profit up 3.5% in Dec quarter on back of strong US demand

Japanese automaker Honda's profit rose 3.5 per cent in the October-December quarter from a year earlier on the back of solid demand in the US and Europe and a recovery in its home market, the company said on Thursday. Tokyo-based Honda Motor Corp's profit in the last quarter was 253.3 billion yen, or USD 1.7 billion. Quarterly sales jumped 21 per cent to 5.39 trillion yen (USD 36 billion). A favourable exchange rate helped amplify Honda's overseas profits in yen terms and is expected to continue through the rest of the fiscal year, which ends in March. The dollar has been trading at about 148 Japanese yen, up from about 140 yen last year. All the automakers have been hurt by shortages of computer chips and other parts, partly due to disruptions in manufacturing because of the coronavirus pandemic. The latest results show Honda has mostly but not yet fully recovered to pre-pandemic levels in some locations. Honda's motorcycle sales grew in recent months in Brazil and Europe, accord

SoftBank results: First profit in 5 quarters with $6.6 bn net income

Net profit totalled 985.5 billion yen ($6.6 billion) in the three months to December, versus a 744.7 billion yen loss in the same period a year earlier

Anger over Lionel Messi's behaviour grows in China before Japan game

Many commentators drew comparisons between Messi's behaviour in Hong Kong and his demeanor in Japan, where he is scheduled to play in a friendly on Wednesday evening.

Rome seeks larger Indo-Pacific role, will step up defence ties with Japan

The leaders of Japan and Italy said on Monday they will bolster their cooperation in security and defence, including their joint next-generation fighter jet development with Britain, as Tokyo welcomed the European nation's shift toward playing a greater role in the Indo-Pacific. Japanese Prime Minister Fumio Kishida, after meeting his Italian counterpart Giorgia Meloni, welcomed Italy's move to increase its presence in the Indo-Pacific region, where several visits by Italy's warships, including its strike group, and joint exercises are planned this year. Japan and Italy are valuable strategic partners that share values and principles such as freedom, democracy, human rights and the rule of law, Kishida said. Kishida also praised progress in their joint development of a new advanced fighter jet with Britain. The three countries in December signed an agreement to establish a joint organisation to develop a new advanced jet fighter for deployment in 2035. Meloni said that the ...

Toyota supplier Denso cuts forecast after Q3 profit hit by extra costs

Denso gets about half of its revenue from the Toyota group, which also includes Toyota truck unit Hino Motors and small-car maker Daihatsu

India equity-focused investment trusts in Japan grow 11% in January

In contrast, flows into Chinese shares dropped the most among 14 emerging markets that are covered by Japan's data on international investment positions

Landmark Indo-Pacific supply chain pact to come into force on February 24

The US on Thursday announced that a landmark agreement on supply chain resilience under the Indo-Pacific economic framework involving 14 partner nations, including India, Japan and Australia, will come into force on February 24. US Commerce Secretary Gina Raimondo said the pact will facilitate a collaborative approach to strengthen supply chains and prevent potential disruptions. The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24. The agreement is aimed at coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains. "This is a critical step in bringing the landmark, first-of-its kind agreement into action and promoting coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and

Marriott International adds 12 properties with 1,431 rooms in India in 2023

Global hospitality group Marriott International on Wednesday said they added 12 properties in India in 2023 and over 60 in the Asia Pacific region, excluding China. This addition has brought the company's presence to more than 560 operating hotels and residences, and exceeded 10 per cent net rooms growth compared to 2022, the hospitality group said in a statement. In the last year, Marriott added over 60 properties to its portfolio, particularly in key travel markets such as Japan, India, and Vietnam, it said. The 12 hotels in India have approximately 1,431 rooms, as per the statement. The company also signed over 80 deals across 13 markets, representing approximately 18,000 rooms. At the end of 2023, Marriott's development pipeline for the region stood at over 320 hotels with over 69,000 rooms, it said. In 2023, 15 per cent of the deals signed in APEC were in the luxury segment and a record nine luxury hotels were opened in the region, including The Ritz-Carlton, Melbourne, whic

Japan's Mizuho finance group sets up global business centre in Chennai

Standard Chartered, Bank of America, NatWest among companies that already have such centres in Tamil Nadu's capital city

Japan's exports surge 10% in Dec on strong demand for autos, revived trade

Japan's exports surged almost 10% in December from a year earlier, helped by a revival in trade with China and strong demand for vehicles, machinery and computer chips. Imports fell almost 7%, leaving a trade surprise of 62 billion yen ($410 million), according to preliminary customs data released Wednesday. A weak Japanese yen has helped export manufacturers like Toyota, Honda and Sony, though it increases costs of imports of key commodities like oil and gas needed to fuel the world's third-largest economy. A decline in oil prices helped reduce the burden of energy imports in December, which fell by 18% from a year earlier. A recovery in demand in China contributed to a 10% increase in exports, while imports from China were flat. Another boost came from a surge in tourist arrivals, which are counted as exports in trade statistics. The improvement late in the year means that overall net exports should have made a significant contribution to GDP growth in the fourth quarter," Gabr

Against expectations, Japan's budget expected to remain in Red in FY25

Japan's primary budget has largely been in deficit in the postwar era with the exception of the asset bubble period between 1986 and 1991

Japan spacecraft lands on lunar surface, becomes 5th country to reach moon

Japan's space agency said early Saturday that its spacecraft is on the moon, but is still "checking its status". More details will be given at a news conference, officials said. The Smart Lander for Investigating Moon, or SLIM, came down onto the lunar surface at around 12:20 am. Tokyo time Saturday (1520 GMT Friday). No astronauts were onboard the spacecraft. If SLIM landed successfully, Japan would become the fifth country to accomplish the feat after the United States, the Soviet Union, China and India. As the spacecraft descended, the Japan Aerospace Exploration Agency's mission control said that everything was going as planned and later said that SLIM was on the lunar surface. But there was no mention of whether the landing was successful. Mission control kept repeating that it was checking its status" and that more information would be given at a news conference. It wasn't immediately clear when the news conference would start. SLIM, nicknamed "the Moon Sniper," started its

India takes investment spotlight while risks weigh in China: Suntory CEO

Japanese drinks maker Suntory is prioritising expansion in India while taking a cautious stance on business in China

Japan Airlines names ex-cabin attendant Tottori as first female president

Mitsuko Tottori, a senior managing executive officer who joined JAL in 1985, the year it suffered one of the worst crashes in airline history, will become president from April 1, it said in statement

SoftBank fully exits Policybazaar parent, collects $650 mn in returns

SoftBank had invested about $200 million in PB Fintech. In Dec 2023, Softbank's arm SVF Python II (Cayman) divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore

US, S Korea and Japan conduct naval drills as tensions deepen with N Korea

The United States, South Korea and Japan conducted combined naval exercises involving an American aircraft carrier in their latest show of strength against nuclear-armed North Korea, South Korea's military said on Wednesday, as the three countries' senior diplomats were to meet in Seoul to discuss the deepening standoff with Pyongyang. The training in waters off South Korea's Jeju island came as North Korean leader Kim Jong Un continues a provocative run in weapons testing and threats that has raised regional tensions to their highest point in years. At Pyongyang's rubber-stamp parliament this week, Kim declared that North Korea would abandon its long-standing commitment to a peaceful unification with South Korea and ordered a rewriting of North's constitution to eliminate the idea of a shared statehood between the war-divided countries. His speech on Monday came a day after the North conducted its first ballistic test of 2024, which state-media described as a new solid-fuel ...

Korean Air plane bumps parked aircraft in Japan, no injuries reported

A Korean Air plane carrying 289 people hit a parked Cathay Pacific aircraft while taxiing to a runway at northern Japan's New Chitose Airport but caused no fire or injuries on Tuesday, Japanese media reported. The incident happened only two weeks after a high profile collision between a Japan Airlines airliner and a coast guard plane on a runway at Tokyo's Haneda Airport. Airline passengers had to make an emergency exit due to a fire and five of the six crew members on the smaller plane were killed. On Tuesday, the KAL plane was heading to a runway for takeoff when it bumped into the empty Cathay Pacific plane, according to the Kyodo News agency. The news agency quoted a local fire department spokesperson as saying no fire or fuel leaks were detected. No other details, including the extent of damage to the aircraft or what caused the taxiing aircraft to clip the parked one, were immediately available. Transportation officials are investigating the cause of the fatal Haneda Airport