Page 46 - Japan

SoftBank's Q4 profit hits $2.11 bn in sign of comeback gaining steam

Monday's result marks the second straight quarter of profit for SoftBank, although for the full year the company remained in the red

G20 summit satisfying, forging friendships most significant: EAM Jaishankar

If closing out the G20 Summit was the most satisfying moment of his career, the most significant was being associated with "enormous changes in some crucial relationships" such as the US, Australia, UAE and Japan during the last five years, Foreign Minister S Jaishankar says. "These relationships have really changed tremendously in the last five years, last decade. And, the growth of the Quad, again that is something that we tried a decade and a half ago, not succeeded, did it a second time. This time it actually, really worked," Jaishankar told PTI in an exclusive interview at the news agency's headquarters. Jaishankar spoke on a range of issues in the nearly hour-long interview including his view of the world in 10 years from now, the challenges faced by India, and the rising profile of the country in the international arena under his watch. Hosting the G20 Summit last year "wasn't just the hard work", because in many ways the "prestige of the country" was riding on it, he said.

Soon, a Japanese Empress?

Amid shirking male heirs, Japanese are opening up to the idea of a reigning Empress. Yet change may be decades away

Vedanta to fully acquire Japanese display glass major AvanStrate

Mining billionaire Anil Agarwal-led Vedanta Ltd of Friday announced that it has acquired an additional 46.57 per cent stake in Japanese glass substrate manufacturer AvanStrate Inc. With this acquisition, Vedanta's total holding in AvanStrate has increased to 98.2 per cent. The transaction is likely to be completed by the first quarter of the current financial year. "The board of directors of Vedanta Limited on Friday... have approved the acquisition of additional stake of 46.57 per cent in AvanStrate Inc (ASI) (an indirect subsidiary of the Company with 51.63 per cent holding) from HOYA Corporation, Japan through Cairn India Holdings Ltd (CIHL), a wholly-owned subsidiary of the company," the mining conglomerate said in a filing to the BSE. Vedanta had bought a controlling stake in the Japanese company in 2017 for USD 158 million. The acquisition of AvanStrate aligns with the company's vision of pivoting towards technology and diversifying into hi-tech manufacturing, while expanding

Honda Motors sees full-year profit rising 2.8%, after it exceeded estimates

Japan's second-largest automaker by volume forecast full-year operating profit would rise to 1.42 trillion yen compared with an average profit estimate of 1.39 trillion yen

Nissan Motor upbeat on annual profit with 5.5% rise despite challenges

It also expects foreign exchange moves to boost its annual results, helping to offset inflationary pressures

Nissan Motor upbeat on annual profit despite challenges from inflation

It also expects foreign exchange moves to boost its annual results, helping to offset inflationary pressures

Legacy firms outperform modern, got 75% of PE-VC investments in 2023

75% of PE-VC investments were directed towards conventional sectors such as healthcare, retail, energy, advanced manufacturing

BOJ board turned hawkish in April, many saw need for more rate hikes

The debate underscores BOJ Governor Kazuo Ueda's recent remarks signalling the chance of multiple rate hikes ahead, and heightens the possibility of an increase in short-term borrowing costs

India overtook Japan to become 3rd largest solar power generator in 2023

Rapid solar energy deployment in India pushed the country past Japan to become the world's third-largest solar power generator in 2023, according to a new report. The report by global energy think tank Ember said India ranked ninth in solar energy deployment in 2015. Solar produced a record 5.5 per cent of global electricity in 2023. In line with the global trend, India generated 5.8 per cent of its electricity from solar last year, as reported in Ember's "Global Electricity Review". Ember's Asia Programme director Aditya Lolla said, "Increasing clean electricity is not just for reducing carbon emissions in the power sector. It is also needed to meet the rising electricity demand in an increasingly-electrified economy and to decouple economic growth from emissions, which is crucial for tackling climate change." Solar maintained its status as the world's fastest-growing electricity source for the 19th consecutive year, adding more than twice as much new electricity worldwide as coal

Japan's Sumitomo Mitsui Financial invests Rs 1,300 cr in SMFG India Credit

SMICC has separately invested Rs 150 cr in a subsidiary to expand its affordable housing finance solutions

Japanese steelmaker JFE eyes overseas investments amid slower profit growth

In February, JFE announced an average increase in steel product sale prices of 10% from April to reflect rising raw material costs and global inflation

Japan describes US President Biden's 'xenophobia' comment as regrettable

Last week Biden said "xenophobia" in economies from China to Japan and India was hobbling their growth, while arguing at a Washington fund-raising event that migration has been good for the US

Yen eases despite intervention threat, as RBA keeps interest rates steady

At the RBA's last meeting in mid-March, policymakers watered down their tightening bias, although Bullock declined to say whether policy has shifted to neutral

Asian shares at 15-mth high on rate cut bets; RBA seen turning hawkish

Japan's Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1 per cent rise overnight

Dollar broadly steady after soft US jobs report; yen starts on back foot

The offshore yuan was last at 7.1959 per dollar, and gained more than 1 per cent last week

Defence chiefs from US, Oz, Japan, Philippines vow to deepen cooperation

Defence chiefs from the US, Australia, Japan and the Philippines vowed to deepen their cooperation as they gathered on Thursday in Hawaii for their second-ever joint meeting amid concerns about China's operations in the South China Sea. The meeting came after the four countries last month held their first joint naval exercises in the South China Sea, a major shipping route where Beijing has long-simmering territorial disputes with a number of Southeast Asian nations and has caused alarm with its recent assertiveness in the waters. US Defence Secretary Lloyd Austin told reporters at a news conference after their discussion that the drills strengthened the ability of the nations to work together, build bonds among their forces and underscore their shared commitment to international law in the waterway. Australian Defense Minister Richard Marles said the defense chiefs talked about increasing the tempo of their defense exercises. Today, the meetings that we have held represent a very

'Xenophobia' stalling economic growth in China, Japan and India, says Biden

The IMF forecast last month that each country would see its growth decelerate in 2024 from the year prior, ranging from 0.9 per cent in highly developed Japan to 6.8 per cent in emerging India

Yen set for strongest week in over a year; dollar waits on US jobs

The yen rose to a session-high of 152.895 per dollar in early Asia trade and was set to clock a weekly gain of more than 3 per cent , its largest since December 2022

White House defends Biden's statement calling India, China 'xenophobic'

The United States is a country of immigrants, the White House has said, defending President Joe Biden's remarks calling two of his QUAD partners -- India and Japan -- as well as Russia and China "xenophobic" nations, asserting that none of these countries, unlike the US, welcome immigrants. Responding to a question about the remarks made by Biden at an election fundraiser on Wednesday, White House Press Secretary Karine Jean-Pierre said that the president was making a "broader point". He was making a broader point. Our allies and partners know very well that how much this president respects them," Jean-Pierre told reporters at her daily news conference on Thursday. "As you know, in regard to Japan, they were just here for the state visit. The US-Japan relationship is an important relationship. It's a deep, enduring alliance, she said. "He (Biden) was making a more broad comment, speaking about this country and speaking about how important it is to be a country of immigrants and ho