Companies

US congressional committee probing Takata's air bag safety

NEW YORK -- U.S. lawmakers have launched an investigation into Takata's defective car air bags, which have sent metal fragments flying into passengers upon deployment. The U.S. House of Representatives Committee on Energy and Commerce announced t...

  • JGC, Chiyoda to design LNG plant in Indonesia

    TOKYO -- Japanese engineering corporations JGC and Chiyoda are expected to receive orders from U.K. petroleum giant BP to design a liquefied natural gas plant in Indonesia. BP will construct a plant for its Tangguh LNG project in West Papua Provi...

  • Toyota won't press parts suppliers to lower prices

    NAGOYA -- Toyota Motor has decided not to seek price cuts from parts suppliers for the October-March half, providing relief to smaller business partners being squeezed by the sliding yen. The Japanese automaker negotiates prices for engines, spri...

  • NEC to build smart-card system for mass transit in Bangladesh

    TOKYO -- NEC will construct a system in the Bangladeshi capital of Dhaka to let people ride buses or trains with a single smart card. The company has received a 320 million yen ($2.93 million) order for the project from the Japan International Co...

  • Honda's hastiness blamed for Fit fiasco

    TOKYO -- Honda Motor is paying a heavy price for its hasty effort to catch up with rival Toyota Motor in the hybrid market. Honda on Thursday announced it is recalling some 420,000 vehicles due to design problems with two key components. This is ...

  • Petrobras in hot water

    SAO PAULO -- Brazilian state-owned oil company Petroleo Brasileiro, known as Petrobras, is struggling amid declining production and a debilitating corruption scandal allegedly involving a bevy of politicians. With the South American country's pre...

  • Brother Industries looks to machine tool ops to boost revenue

    NAGOYA -- Japan's Brother Industries, a major maker of printers and other office equipment, is looking to its machine tools specialized for smartphone production to boost its results for the year through March 2015. These machine tools, known as ...

  • Daikin to double US output of building air conditioners

    HOUSTON, Texas -- Daikin Industries will double annual production of multisplit air conditioners at its Texas factory to 20,000 units in fiscal 2015. The Japanese company will take on an additional 250 workers at the plant, which it gained throug...

  • Becton to export microbe-culturing media to Asia from Japan

    TOKYO -- U.S.-based medical supplies manufacturer Becton, Dickinson and Co. will begin exports of bacteria-culturing media made at its Japanese factory to other Asian countries. Chief Executive Officer Vincent Forlenza revealed the plans while to...

  • Posco's operating profit gets a lift from auto steel

    SEOUL -- Posco's operating profit rose 39% on the year to 879 billion won ($832 million) for the July-September quarter, South Korea's largest steelmaker announced Thursday. Steel sheet for automobiles sold well in the U.S. and China, while iron ...

  • Japanese damaged-car dealer to triple exports to Myanmar

    TOKYO -- Tau, a Japanese company that buys and resells damaged cars, aims to increase its exports to Myanmar by more than 200% next year, setting up a marketing beachhead in the city of Yangon. The Yangon site will open as early as December, with...

  • Taiwan panel maker TPK logs 3Q loss; Apple Watch delay seen as factor

    TAIPEI -- Taiwanese touch panel supplier TPK Holding on Thursday said it booked red ink for the third quarter. The company cited delayed shipments of a key new product -- likely a reference to the Apple Watch -- and production issues with fresh techn...

  • Sumitomo Mitsui Trust partners with Taiwan's CTBC on lending business

    TOKYO -- Japan's Sumitomo Mitsui Trust Bank is partnering with major Taiwanese banking group CTBC Financial Holding. Sumitomo Mitsui Trust aims to leverage the Taiwanese lender's reach in Southeast Asia to expand its Asian operations. Sources say...

  • US hedge fund sells Sony shares

    TOKYO -- U.S. hedge fund Third Point has sold its share in Sony. In a letter to investors on Tuesday, CEO Daniel Loeb, said the sale had made a nearly 20% profit. Third Point revealed in May last year that it had acquired shares in Sony. The ...

  • Japan's Benefit One takes its employee motivation service to Indonesia

    TOKYO -- Benefit One, which provides client companies in Japan with employee motivation, will make a full-scale entry into Indonesia. The Japanese service provider has recently teamed up with an Indonesian company to develop new customers in...

  • China's Evergrande Real Estate branching into solar power

    GUANGZHOU, China -- Evergrande Real Estate Group, one of China's leading property developers, is adding solar power to its rapidly growing list of business endeavors. The company will invest 90 billion yuan ($14.7 billion) to build huge solar pow...

  • Mitsubishi Heavy moves Boeing 777 door production to Vietnam

    HANOI -- Japan's Mitsubishi Heavy Industries announced Wednesday that it has moved production of doors for U.S. aircraft manufacturer Boeing's 777 jetliner to Vietnam. The move is intended to enhance cost competitiveness by accumulating manufactu...

  • Fast Retailing defies retail slump, wins investor trust

    TOKYO -- Fast Retailing has held steady through the recent stock market turbulence, with investors hailing its flagship Uniqlo fast-fashion chain as one of the few clear winners in Japan's retail industry since April's consumption tax hike. Remai...

  • SoftBank's bets big on Indonesia with Tokopedia deal

    JAKARTA -- Japan's SoftBank said Wednesday it will lead a $100 million investment in online retailer Tokopedia, in what promises to be one of the biggest deals ever for an Indonesian startup. Softbank's U.S.-based subsidiary SoftBank Internet and...

  • Peso-pinching back-office service providers have a thing for the Philippines

    MANILA -- Business process outsourcing -- paying other companies to do some of your back-office tasks -- has a big footprint here. But the service providers are starting to spread out to other parts of the country where labor is cheaper. Transcos...