Toyota likely to replace GM as world's biggest carmaker
December 20, 2005Toyota Motor Corp could become the biggest automaker in the world in 2006, taking the position long held by General Motors Corp of the United States, according to a production plan released by the top Japanese carmaker Tuesday. Toyota said it plan...
Bank of Tokyo-Mitsubishi, UFJ Bank to delay computer integration
December 20, 2005The Bank of Tokyo-Mitsubishi and UFJ Bank, which are due to merge Jan 1, are negotiating to postpone full integration of their computer systems for six months until around June 2008, sources familiar with the matter said Tuesday. The planned postp...
Kanebo to sell 2 realty business units to Osaka developer
December 20, 2005Kanebo Ltd said Tuesday it will sell its two realty business subsidiaries Kanebo Real Estate Ltd and Kanebo Holiday to Osaka-based realty developer Inter Planet Co. Kanebo, which is rebuilding itself with the help of the Industrial Revitalization...
Tokyo condo supply likely to top 80,000
December 20, 2005The number of condominiums put up for sale in the Tokyo metropolitan area in 2006 is expected to stay high at around 85,000 units, a research institute forecast Tuesday, dismissing concern over the impact of a high-profile building data fabrication s...
BOJ to sell Y6.9 trillion in bonds to gov't
December 20, 2005The Bank of Japan said Tuesday it has decided to sell 1.4 trillion yen in outstanding government bonds to the government in fiscal 2005 ending next March and an additional 5.5 trillion yen in fiscal 2006. The decision meets the government's plan t...
6 brokerages offer to give up profits on Mizuho trade error
December 20, 2005Six Japanese and foreign brokerages Tuesday offered to give up their profits arising from Mizuho Securities Co's mistaken sell order for 610,000 shares of J-Com Co for 1 yen each. The offer from the six, including UBS Securities Japan Ltd of the S...
Hitachi recalling 230,000 washer-dryers
December 20, 2005Hitachi Home & Life Solutions Inc said Tuesday about 238,000 of its washer-dryers have a defect that could lead to fire. The electric home appliance unit of Hitachi Ltd will check and repair these washer-dryers produced between August 2001 and Decemb...
Y200 mil Christmas cake on sale at Takashimaya department store
December 20, 2005A diamond-sprinkled Christmas cake was put on sale for 200 million yen, or about $1.71 million, at a Takashimaya department store in Tokyo's Chuo Ward on Tuesday as part of its Christmas shopping fair. The two-layered, hexagonal fruitcake is coate...
Tsurushima resigns as TSE president over system problems
December 20, 2005Tokyo Stock Exchange President Takuo Tsurushima resigned Tuesday to take responsibility for serious problems with the TSE's computer system that roiled the market recently, while TSE Chairman Taizo Nishimuro will double as president for the time bein...
Nihon Keizai Shimbun protests to CNN over erroneous report on its president
December 20, 2005The Nihon Keizai Shimbun said Monday it has lodged a protest with CNN to correct its earlier report saying that the economic daily's president will resign, and to investigate how the mistake had happened. CNN broadcast in its international edition...
Japan Post, 2 banks to accept ATM cards issued by Chinese banks
December 20, 2005Japan Post, UFJ Bank and Sumitomo Mitsui Banking Corp said Monday they will make their automated teller machines compatible with cash cards issued by Chinese banks next year. The new service is designed to enhance convenience for Chinese travelers...
Bridgestone Sports sues U.S. golf ball maker
December 20, 2005Golf goods maker Bridgestone Sports Co, a unit of Japan's largest tire maker Bridgestone Corp, on Monday sued U.S. golf ball manufacturer Acushnet Co over alleged infringement of golf ball patents. Tokyo-based Bridgestone Sports filed the lawsuit...
JGB underwriting syndicate to be abolished
December 20, 2005The Finance Ministry said Monday the syndicate of financial institutions to underwrite government bonds will be abolished at the end of the current fiscal year to next March 31. The underwriting syndicate of banks, brokerages, life insurers and ot...
Osaka restaurants resume serving U.S. beef
December 20, 2005Zenshoku Co on Monday added U.S. beef to its Korean barbecue menu again, becoming the first restaurant to offer American beef to consumers after Japan's resumption of imports from the United States. The restaurant chain operator has resumed servin...
Brazil's Petrobras to sell ethanol in Japan
December 20, 2005State oil monopoly Petroleo Brasileiro SA (Petrobras) said Monday it is incorporating Brazil-Japan Ethanol Co in Japan to import ethanol produced from sugar cane in Brazil and distribute it in the Japanese market. The new company, to be created th...