Still, "higher prices of natural rubber and other raw materials will reduce our operating profit by 24 billion yen ($212 million) in 2017," said Gota Matsuo, general manager at Yokohama Rubber, told a news conference. To minimize the impact, the firm plans ... ( read original story ...)
Embattled Osaka kindergarten chief apologizes for denigrating Koreans, Chinese
Osaka Gov. Ichiro Matsui urged the kindergarten to refrain from using such derogatory language at a regular news conference on Friday. “Even though we have the right of free speech, we should not use vulgar expressions,” Matsui said. The kindergarten ... ( read original story ...)
Japan's manufacturing sector hasn't looked this good in years
Japan’s manufacturing sector enjoyed another strong month in February with activity levels improving at the fastest pace in nearly three years. The Nikkei-IHS Markit “flash” manufacturing purchasing managers index (PMI) rose to 53.5 in February ... ( read original story ...)
Negative rates put corporate Japan in a spending mood
TOKYO -- The introduction of negative interest rates a year ago by the Bank of Japan is prompting listed companies here to funnel the money they save on borrowing costs toward takeovers and capital investment. The average borrowing rate of 1,387 ... ( read original story ...)
Japan's regional bank consolidation gains momentum
TOKYO -- The planned consolidation of three regional banks in greater Osaka highlights an increasingly harsh business environment and a pressing need to raise efficiency in Japan's shrinking market amid ultralow interest rates. The financial institutions ... ( read original story ...)
Saudi favours New York for Aramco IPO, also considers Toronto, London – WSJ
Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo and Shanghai but are unlikely to pursue ... Saudi officials expect the IPO to value Aramco at a minimum of $2 trillion (£1.61 trillion). Saudi Arabian Oil Co, known as Saudi Aramco ... ( read original story ...)
Japan's SMFG, Resona in talks to combine regional units: sources
TOKYO Sumitomo Mitsui Financial Group (8316.T) (SMFG) and Resona Holdings Inc (8308.T) are in talks to merge some of their units, sources said, in what would be the latest in a slow but steady wave of consolidation in Japan's regional banking industry. ( read original story ...)