Companies

Hitachi Chemical to cut 1,000 domestic jobs this year

TOKYO -- Hitachi Chemical aims to let go of 1,000 employees through voluntary retirements in a move to streamline at home as it prepares to step up investment abroad. The call will go out at the core unit and domestic subsidiaries for about a mon...

  • JR Freight eyes trucking customers with massive shipment center

    TOKYO -- Japan Freight Railway will invest 30 billion yen ($291 million) to create one of the largest distribution centers in the country, aiming to draw clients away from its truck-using competitors. The company, better known as JR Freight, will...

  • Microwaves stanch wounds with pinpoint accuracy

    OSAKA -- Precision pump company Nikkiso has developed a device that uses microwaves to stop bleeding with minimal effect on surrounding tissue. The new device promises to cost one-third as much as conventional ultrasound-based hemostatic devices....

  • Yoshinoya to beef up expansion with share sale

    TOKYO -- The operator of the Yoshinoya beef bowl chain announced Friday that it will raise up to 17.3 billion yen ($168 million) in a public offering and use the proceeds to finance new restaurants. Yoshinoya Holdings, which also operates the Han...

  • Baidu's revenue, profit increase on mobile strength

    HONG KONG (Dow Jones) -- Baidu Inc. gave an upbeat revenue outlook after reporting a 34% rise in second-quarter profit as the Chinese Internet giant's bet on mobile services started to pay off. The company said Friday it will continue to invest hea...

  • Mitsubishi Heavy taking its urban rail systems to the world

    TOKYO -- Mitsubishi Heavy Industries has global plans for its urban transportation systems. The Japanese company is revamping the design of its systems to slash installation and maintenance costs by half, and plans to open bases for sales and ser...

  • Myanmar industrial park being finished 2 years early

    YANGON -- The developer of Myanmar's Thilawa industrial park will complete the project two years sooner than initially planned in response to strong calls for its early operation. The project is being handled by Myanmar Japan Thilawa Development,...

  • Taiwanese airline confirms 48 dead in Typhoon Matmo crash

    TAIPEI -- TransAsia Airways has confirmed 48 people dead in a crash last night on an island off Taiwan. Ten more passengers and five people on the ground were injured, and nine of the surviving passengers remain hospitalized. Local television s...

  • Apple touch panel maker pinched by falling tablet demand

    TAIPEI -- Taiwanese touch panel supplier TPK Holding, a supplier to US consumer goods giant Apple, has suffered significant second quarter drops in revenue and profit year on year due to strong competition and slipping global demand for tablet comput...

  • Saudi Aramco diversifying to break dependence on oil

    DUBAI, United Arab Emirates -- Saudi Aramco is stepping up its diversification efforts as it tries to wean itself off its crude oil dependence. The world's largest oil company manages 260.2 billion barrels of crude oil reserves each year and oper...

  • 7-Eleven Malaysia looks to Japan for inspiration

    KUALA LUMPUR -- Fresh from an initial public offering in May that raised $226 million, 7-Eleven Malaysia is set for a major refurbishment and expansion of its outlets, and it is looking to Japan for ideas on store layouts and items to stock, such as ...

  • Hong Kong's NWS to buy Guangdong expressway operator

    HONG KONG -- Infrastructure company NWS Holdings will pay 2.56 billion yuan ($412 million) for a 51% stake in the operator of a Chinese highway. NWS expects the deal to give it stable revenues from tolls collected on part of the Erguang Expresswa...

  • Hitachi throws down gauntlet to top 3 train makers

    TOKYO/LONDON -- Hitachi on Monday unveiled standard rail cars developed for overseas customers, an occasion that revealed the company's vaulting ambition for a market dominated by three giants. Switching to standardized production helps Hitachi c...

  • NTT pivoting to cloud computing overseas

    TOKYO -- Nippon Telegraph and Telephone is working to make cloud computing the core of its information technology business outside Japan, selling off a subsidiary handling equipment sales while building up data center infrastructure and personnel. ...

  • Orix to tap Japan's geothermal power with smaller facilities

    TOKYO -- Japan's Orix plans to build up to 15 geothermal power plants in the next five years, aiming to capitalize on the nation's rich supply of subterranean heat. The company, better known as a financial services provider, will build smaller fa...

  • Japan's Lixil teams up with Chinese realty company in housing R&D

    TOKYO -- Lixil Group has partnered with Chinese real estate company Greenland Group on research and development in the housing field. The two companies plan to set up a research organization in Shanghai. Using Lixil's expertise, the organization ...

  • China's Xiaomi enjoying meteoric growth

    BEIJING/MUMBAI -- Called "the Apple of China" for its popularity among young consumers, smartphone maker Xiaomi has grown rapidly over its short life span, potentially reaching the equivalent of 1 trillion yen ($9.75 billion) in annual sales just fiv...

  • Malaysia Airlines could be taken private by state-owned fund

    SINGAPORE -- Malaysian sovereign wealth fund Khazanah Nasional could buy all the stock in Malaysia Airlines and temporarily nationalize the carrier due to expectations of even weaker finances in the wake of the crash of one of its jetliners in Ukrain...

  • China Mobile's money set to improve Thai wireless carrier True's trajectory

    BANGKOK -- A massive investment by China Mobile appears to have Thai wireless carrier True poised for a return to profitability after three years of losing money. True, a telecommunications unit of conglomerate Charoen Pokphand Group, is the thir...

  • Li & Fung hopes brand business spinoff strengthens its trading empire

    HONG KONG -- Li & Fung, a leading supplier of consumer goods based in Hong Kong, has spun off its brand management unit and taken it public in the Chinese territory. Global Brands Group Holding, the newly listed entity, has licenses to hundreds o...