GM reports 1st net loss in 13 years in 2005 business year
January 26, 2006General Motors Corp. said Thursday it incurred an $8,554 million net loss in the 2005 business year, its first such loss in 13 years. The poor showing marks a turnaround from the previous year's $2,789 million net profit.
Livedoor to correct past financial records
January 26, 2006Livedoor Co. will change its auditor and correct past financial statements under the new management launched after the arrests of some of its executives, company sources said Thursday. The corrections will be made to its financial reports for years since April 2004, when the fast-growing Internet services firm was listed on the Tokyo Stock Exchange's Mothers market for start-up companies, said the sources.
Horie made 10,000 yen donation monthly to ex-IT minister
January 26, 2006Arrested former Livedoor Co. President Takafumi Horie has made monthly monetary contributions to former information technology minister Toshimitsu Motegi since 2004, an income and expenditure report of a political fund showed Thursday. Horie, 33, has donated 10,000 yen every month as a membership fee to the support group of the House of Representatives member of the Liberal Democratic Party, according to the report.
Uniqlo clothing store operator to tie up with Daiei
January 26, 2006Fast Retailing Co., the operator of Uniqlo casual clothing stores, plans to open shops under a new brand at Daiei supermarkets, the two companies said Thursday. Fast Retailing plans to operate in Daiei stores as a tenant for the new line of clothing, they said. About 130 of 210 Daiei supermarket stores have tenant floor space for clothing.
NHK's Hashimoto hints at cutting viewer fees
January 26, 2006The head of public broadcaster NHK, Genichi Hashimoto, hinted Thursday that the broadcaster may reduce its mandatory TV viewing fees if it sees a decline in the number of viewers refusing to pay. Hashimoto, president of NHK, officially named Japan Broadcasting Corp., made the remark at a meeting of the governing Liberal Democratic Party's subcommittee on communications and broadcasting.
China top Japan trading partner for 2 yrs, overall surplus down
January 26, 2006Japan's two-way trade with China totaled 24,949.1 billion yen in 2005, making the country Japan's biggest trading partner for the second straight year despite soured bilateral political relations, according to Finance Ministry data released Thursday. Meanwhile, Japan's worldwide trade surplus in 2005 shrank 26.5 percent from the previous year to 8,785.2 billion yen, marking the first fall in four years as high crude oil prices inflated the value of imports, the ministry said in a preliminary report.
Capital gains from Livedoor shady buyout deals paid in dividends
January 26, 2006The Livedoor Co. group made investment unions under its control transfer gains on sales of stocks they had received in connection with equity swap deals to Livedoor in the form of dividends, sources familiar with its buyout deals said Thursday. According to the sources and prosecutors, the Livedoor group has carried out 18 corporate takeovers through stock swaps since 2001.
666,000 tourists visit Myanmar in 2005
January 26, 2006A total of 666,000 tourists visited Myanmar in 2005 and the tourism sector earned $153 million, a semi-official weekly newspaper reported Thursday. The number of visitors last year slightly increased from 657,000 in 2004, while the earnings of the tourism sector rose by $17 million, or 12.5 percent, Myanmar Times reported, quoting official figures.
Flat TV shipments top those of CRT sets in 2005 in Japan
January 26, 2006The shipments of plasma and liquid crystal display TVs totaled 4.69 million units in 2005, exceeding for the first time those of bulkier cathode-ray tube sets that came to 3.98 million units, an industry group said Thursday. More consumers opted for flat-screen TVs as they have become more affordable, according to the Japan Electronics and Information Technology Industries Association.