Honda to recall 30,000 units of Odyssey in China
October 10, 2006Japanese automaker Honda Motor Co. will recall some 30,000 units of its Odyssey minivan for free repairs as defective rear-window wiper systems could cause a fire, officials said Tuesday. The vehicles were manufactured by Guangzhou Honda Automobile Co. between March 2002 and October 2003, they said.
Japan seeks early N. Korea resolution, more financial sanctions
October 10, 2006Japan on Tuesday stepped up efforts to seek early adoption of a U.N. Security Council resolution for sanctions against North Korea over its claimed nuclear test, while considering expansion of Tokyo's own sanctions. Prime Minister Shinzo Abe told a House of Representatives Budge Committee session, referring to a UNSC resolution containing Chapter 7 of the U.N. Charter, ''The U.N. Security Council should immediately start deliberation on a resolution for stern measures.''
Matsushita to retreat from home-use gas equipment market
October 10, 2006Matsushita Electric Industrial Co. will pull the plug on the home-use gas equipment business in line with its effort to promote electric kitchen and other household appliances, company officials said Tuesday. Matsushita will end production and sale of gas-powered cooking stoves, fan heaters, boilers and other products under the ''National'' brand by the end of next March, they said.
Tokyo market shows calm reaction to N. Korean nuclear test
October 10, 2006The Tokyo financial market remained composed Tuesday in the wake of North Korea's claimed nuclear test, contrary to expected reactions in an emergency situation. Although the yen came under selling pressure and dropped to the 119 level against the dollar, the barometer Nikkei Stock Average gained 41.19 points, or 0.25 percent, to end at 16,477.25, for the highest finish since May 15.
Idemitsu Kosan to go public Oct. 24
September 19, 2006Idemitsu Kosan Co. will go public on Oct. 24 in the second largest initial public offering in Japan this year as the Tokyo Stock Exchange authorized the major Japanese oil refiner's listing application Tuesday. Idemitsu is expected to offer up to 120.4 billion yen through the issuance of 11,521,000 new shares and secondary sales of up 1,157,500 outstanding shares, the second biggest IPO of 2006 after 131.2 billion yen to be marketed by Nomura Real Estate Holdings Inc. due to debut on the TSE on Oct. 3.
Toyota launches flagship LS sedan for Lexus brand in Japan
September 19, 2006Toyota Motor Corp. on Tuesday launched the flagship sedan for its Lexus premium brand, aiming to catch up with German rivals and grab a bigger share of the luxury car market in Japan. In contrast to its huge success in the United States, sales of Lexus models have been slow in Japan since the brand's launch here almost one year ago, despite signs of a pickup in the world's second-largest economy.
Mihama nuke reactor to begin test-operating from Sept. 26
September 18, 2006Kansai Electric Power Co. will begin test-operating a Mihama nuclear power plant reactor in Fukui Prefecture on Sept. 26 that has been suspended since five workers were killed and six others injured in an August 2004 accident, their families said Monday. During the test, the company plans to check instruments inside the No. 3 reactor, which caused the fatal accident, and see if it is possible to transmit power generated there to the Kansai region, they said.
Ambassador Schieffer eats 'gyudon' with U.S. beef at Yoshinoya
September 18, 2006U.S. Ambassador to Japan Thomas Schieffer ate a ''gyudon'' beef-on-rice dish containing U.S. beef Monday at a Yoshinoya D&C Co. restaurant in Tokyo as the company resumed sales of the mainstay dish after two years and seven months of suspension over mad cow disease fears. ''It was well worth the wait,'' said Schieffer after eating a large bowl of gyudon at a Yoshinoya shop close to the U.S. Embassy in Tokyo. ''I can really understand why it's been so popular because it is inexpensive, it's fast and it tastes good.''
Corporate profits up 80%, but wages slightly down
September 17, 2006Japanese companies' pretax profits have expanded by more than 80 percent during the economic upturn since February 2002 but wages per employee have slightly declined, an analysis by Kyodo News showed Sunday. Pretax profits at Japanese firms in all industries, excluding the financial and insurance sectors, stood at 14.49 trillion yen in the April-June quarter, up 86.5 percent from the first quarter of 2002, when the nation's economy started recovering, according to the analysis.
Former Murakami Fund head to plead not guilty to insider trading
September 16, 2006Yoshiaki Murakami, the founder of Japan's best-known investment fund, intends to plead not guilty to insider trading charges against him when his trial begins, despite having admitted to them at the time of his indictment, judicial sources said Saturday. Murakami's defense counsel informed officials of the Tokyo District Court and public prosecutors of his intention when the three parties met Friday to discuss how to proceed with the upcoming trial, the sources said. The court has yet to decide when to begin the trial.