Trading in Toshiba stock was halted Wednesday after the Tokyo-based technology conglomerate confirmed it had received a preliminary acquisition proposal. Toshiba Corp. said it had asked for more details on the proposal it had received on Tuesday, was giving it “careful consideration” and would make an announcement “in due course.” Major Japanese newspaper Nikkei reported […]
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Hitachi Ltd. is buying U.S. digital engineering services company GlobalLogic Inc. for $9.6 billion, the Japanese industrial, electronic and construction conglomerate said Wednesday. Tokyo-based Hitachi said the acquisition of the Silicon Valley company will strengthen Hitachi’s digital operations in a wide range of businesses, including IT, energy, industry and mobility. It will speed up efforts […]
Japanese automakers Toyota, Isuzu and Hino said Wednesday they are setting up a partnership in commercial vehicles to work together in electric, hydrogen, connected and autonomous driving technologies. Under the deal, Toyota Motor Corp., Japan’s top automaker, and truckmaker Isuzu Motors will each take a 4.6% stake in each other, the three companies said in […]
Japan’s top telecommunications company is getting 7.3 billion yen — about $67 million — in taxpayer money to design mobile tracking software to curb the spread of coronavirus infections during the Tokyo Olympics. There’s one catch: Few Olympic fans from abroad will be around to use it. Tokyo Olympic organizers and the IOC on Saturday […]
Japanese e-commerce giant Rakuten sold on Monday 13 percent of its shares, worth $2.2 billion, to several new investors, as the company attempts to strengthen its balance sheet, while rolling out a more aggressive mobile strategy. The new investors into Rakuten are Japan Post – the country’s largest insurer and bank by deposit, as well […]
Japan’s postal system is investing 150 billion yen ($1.4 billion) in an 8% stake in the e-commerce venture Rakuten to strengthen a partnership in deliveries, fintech and other areas. Rakuten’s shares shot up 8.6% in Tokyo trading Friday on news of the tie-up with Japan Post. Japan Post’s gained 4.9%. Japan Post Holdings President Hiroya […]
Japanese telecommunications and technology conglomerate Softbank Group Corp. reported Monday a whopping 1.17 trillion yen ($11 billion) profit for the October-December quarter as its investments rose in value. SoftBank’s profits were far better than what analysts had expected, zooming up 21-fold from the 55 billion yen profit recorded the previous year. The value of its […]
Japan aims to eliminate gasoline-powered vehicles in about 15 years, the government said Friday in a plan to achieve Prime Minister Yoshihide Suga’s ambitious pledge to go carbon free by 2050 and generate nearly $2 trillion growth in green business and investment. The “green growth strategy” urges utilities to bolster renewables and hydrogen while calling […]
Japanese technology company SoftBank Group Corp. said Monday it restored its profitability in the last quarter as its investments improved in value. The Tokyo-based company reported a 627 billion yen, or about $6.1 billion, profit in July-September, compared with a loss of 700 billion yen in the same quarter of 2019. SoftBank said its quarterly […]
Japanese tech giant NEC buys Swiss Avaloq, Europe’s largest banking software developer, for 2.05 billion Swiss francs ($2.2 billion), the company said in a statement issued on Monday. “NEC will be placing great importance on building long-term relationships with Avaloq and its customers and aims to create new solutions that combine Avaloq’s software with NEC’s […]