Companies

Eyeing Southeast Asia, India

Shimadzu looks beyond China for growth

SINGAPORE -- Precision instruments maker Shimadzu aims to grow its sales in Asia, excluding its home country Japan and China, 40% by fiscal 2016, President Akira Nakamoto said Wednesday. It will shoot for 31 billion yen ($259 million) in revenue ...

  • Executive shake-up

    Toyota bringing in new blood with eye on sustained growth

    NAGOYA -- Toyota Motor's efforts to become stronger and build the next generation of management are reflected in its new executive appointments, including naming its first foreign executive vice president and sending officials to gain experience else...

  • Ditching the stick

    Suzuki offers more cars with simple automatic transmission in India

    TOKYO -- Suzuki Motor is widening the range of cars on offer in India that come equipped with its simple and inexpensive automatic transmission. Suzuki's proprietary Auto Gear Shift is an automated manual transmission, essentially a manual transm...

  • Oil, gas pipes

    JFE Steel to help build plant in Abu Dhabi

    TOKYO -- JFE Steel plans to build a joint-venture plant in Abu Dhabi to produce large-diameter steel pipes for use in pipelines. The plant will be owned 51% by Abu Dhabi state-owned investment company Senaat, 27% by JFE Steel and 22% by trading c...

  • Google

    Translation service found wanting in Myanmar

    YANGON -- Google kicked off a program on Saturday to improve accuracy in Myanmar of Google Translate, a popular service covering about 90 languages. Google's Love Your Language program was launched in Yangon with a translate-a-thon intended to im...

  • Zalora

    ASEAN fashion community

    JAKARTA - With financial backing from Germany's Rocket Internet, online fashion retailer Zalora plans to increase intraregional trade among the ten members of the Association of Southeast Asian Nations (ASEAN) when the ASEAN Economic Community (AEC) ...

  • Slow China sales hit Samsung

    Apple tops again in global smartphone sales

    SILICON VALLEY, Calif. -- Apple overtook South Korea's Samsung Electronics in worldwide smartphone sales in the October-December quarter of last year, climbing to the top spot for the first time in three and a half years. According to U.S. market...

  • Low-end market open, says Asia CEO

    China's ZTE to release cheap smartphone in Japan in April

    BARCELONA, Spain -- China's ZTE is planning to launch an inexpensive smartphone in Japan in April, as it tries to gain a foothold in a low-cost smartphone market that is expected to grow in the future. The plan was unveiled when Jacky Zhang, vice...

  • BTPN

    Indonesian bank getting $300M worth of lending fuel from SMBC, IFC

    JAKARTA -- Japan's Sumitomo Mitsui Banking Corp. and International Finance Corp., a unit of the World Bank, have agreed to provide $300 million worth of rupiah-denominated loans to Bank Tabungan Pensiunan Nasional. The goal is to help BTPN increase l...

  • Fiber provider

    Toray weaves production hub network

    SHANGHAI/NANTONG -- Toray Industries is stepping up efforts to develop tailor-made products for regional markets as it expands globally. For many years, the Japanese fiber maker has maintained a technological advantage over rivals. It has done so...

  • Heavy equipment maker acquistions

    Hitachi prepares for battle with Chinese rivals

    TOKYO -- Hitachi's recent purchase of the railway and signaling business of Finmeccanica, an Italian defense and aviation company, was unexpectedly expensive. It had to raise its bid to around 260 billion yen ($2.14 billion), due to the decline in th...

  • ASEAN capital markets

    Singapore, Malaysia, Thailand sign deal on common market rules

    SINGAPORE -- The Association of Southeast Asian Nations has moved one step closer to integrating its capital markets, with Singapore, Malaysia and Thailand agreeing to set up a framework for cross-border offering in securities. The Monetary Autho...

  • Capital spending

    Nippon Steel sees upgrades as vital to compete

    TOKYO -- Japan's Nippon Steel & Sumitomo Metal plans to spend an additional 100 billion yen ($826 million) a year on domestic equipment and step up hiring to further boost operational efficiency and take on rising Asian peers.Running ahead of schedul...

  • Solid in smartphones

    China's TCL logged 51% net profit surge for 2014

    BEIJING -- TCL's net profit jumped 51% in the year ended Dec. 31, the Chinese electronics giant reported Tuesday, buoyed by strong smartphone operations in the Americas and other overseas markets. Net profit rose a second straight year to 3.18 bi...

  • Population growth

    Tokyu Fudosan revs up housing in Indonesia

    TOKYO -- Tokyu Fudosan Holdings plans to develop roughly 5,000 condominium units and houses in Indonesia by 2023, based on projections of strong demand as the country's population grows. The Japanese real estate company intends to invest more tha...

  • Lifting drum output

    Japan's JFE Container to add second shift at Chinese plant

    TOKYO -- JFE Container plans to boost drum can production capacity at a plant in China by 60% to more than 300,000 units a month. Capacity will go up at JFE Steel Drum (Zhejiang), an 80-20 joint venture with steel trading house Marubeni-Itochu St...

  • Cultivating Japan

    China's Spring Airlines plans Kansai Airport hub

    OSAKA -- China's Spring Airlines announced plans Tuesday to make Kansai Airport one of its hubs, the first foreign low-cost carrier to create a hub in Japan. Spring Airlines currently flies from Kansai Airport near Osaka to six cities in China. T...

  • Building more trucks

    Hyundai Motor to raise capacity at home

    SEOUL -- Hyundai Motor will increase production capacity 50% at a domestic commercial-vehicle factory, enhancing competitiveness in a market segment the South Korean automaker was relatively slow to enter. The facility in Jeonju, Jeolla Province,...

  • Planting Mideast roots

    Japanese robot builder to open Saudi R&D base

    TOKYO -- Robot developer tmsuk plans to set up a Saudi Arabian joint venture this month as its third base for research and development. The Japanese company has been negotiating the venture with an investment firm affiliated with King Abdulaziz U...

  • Scaling back

    Nippon Steel to close blast furnace in Kyushu

    TOKYO -- Nippon Steel & Sumitomo Metal plans to halt operations at a blast furnace at Kyushu's Yawata works by the end of fiscal 2018 amid rising production by Chinese rivals and sluggish Asian demand. The closing of the furnace, at the Kokura br...