Deals

Going up

Elevator maker Fujitec forms joint venture in Sri Lanka

TOKYO -- Japan's Fujitec has established a presence in Sri Lanka to target the island nation's small but growing market for elevators and to give a shot in the arm to the company's South Asian business. In what is a first among elevator manufactu...

  • Leave it to bankers

    Tokyo government calls it quits on running bank

    TOKYO -- A regional bank owned by the Tokyo Metropolitan Government will join the Tokyo TY Financial Group, effectively ending the local government's 10-year venture in operating a bank. The Tokyo government is going to exchange its shares in Shi...

  • Export offensive

    Japan wholesalers team up to sell veggies, fruits, fish, flowers in Asia

    TOKYO -- Three major Japanese distributors of fresh produce, seafood and flowers are coming together to promote exports to the rest of Asia at a time when domestic demand is shrinking. Vegetable and fruit wholesaler Tokyo Seika, seafood distribut...

  • Energy from the earth

    Japan starts building large geothermal plant after long hiatus

    TOKYO -- Some 22 years after an on-site survey began, construction on a large-scale geothermal power plant in Akita Prefecture kicked off Monday. The project will generate 42,000kW, or enough electricity for 80,000 households a year, and is expec...

  • Mission complete

    Toymaker Tomy's top shareholder is to divest this week

    TOKYO -- Tomy is bidding farewell to a private-equity fund that provided the finances it needed for acquisitions now that they have been carried out successfully. The Japanese toymaker said Monday it is ending the capital and business alliance th...

  • Digging together

    Mitsubishi Heavy, IHI, JFE Engineering to merge tunneling machine businesses

    TOKYO -- Mitsubishi Heavy Industries will team up with IHI and JFE Engineering in a consolidation of their tunnel boring businesses, a move aimed at ramping up competitiveness on the world market. The major Japanese heavy machinery maker plans to...

  • Catching up to Coca-Cola

    Suntory Beverage to buy JT vending-machine ops

    TOKYO -- Japan's Suntory Beverage & Food will buy vending-machine operations from Japan Tobacco for roughly 150 billion yen ($1.22 billion), according to an announcement Monday, bringing the drink company a step closer to No. 1 player Coca-Cola (Japa...

  • Airport management deal

    Orix, French partner sole bidder to run Osaka airports

    OSAKA -- New Kansai International Airport, looking to sell the management rights of two Osaka-area airports to the private sector, had only one bidder in the auction's first round -- a duo comprised of Japanese leasing giant Orix and France's Vinci A...

  • Mahindra & Mahindra

    Indian farm machinery maker to buy into Mitsubishi Heavy unit

    MUMBAI -- Mahindra & Mahindra, an Indian manufacturer of automobiles and farm machinery, will join forces with a unit of Japan's Mitsubishi Heavy Industries to ramp up business in Asia and North America. The world's largest tractor manufacturer b...

  • Thailand's power industry

    Tepco to team with Thai utility to procure LNG

    TOKYO -- Tokyo Electric Power Co. is joining forces with Thailand's state-owned power utility in liquefied natural gas (LNG) operations. Tepco and the Electricity Generating Authority of Thailand (EGAT) would cooperate in the procurement, shipme...

  • Transportation infrastructure

    Contractors race to cash in on Southeast Asia's metro boom

    TOKYO -- Japanese general contractors won bids for a string of subway projects in Southeast Asia in 2013 and 2014, and they are now preparing to start construction. Among the projects is Singapore's Thomson Line, a 30km-long all-underground line that...

  • Flying the distance

    Hitachi Maxell to build drone batteries

    TOKYO -- Hitachi Maxell announced Tuesday that it will start making lithium-ion batteries for drones. The Japanese company will team up with Enroute, a drone manufacturer based in Saitama Prefecture. Enroute technology for battery packs and safet...

  • Renewable energy

    Kyushu Electric, Mitsubishi to build geothermal plant

    FUKUOKA, Japan -- Kyushu Electric Power and Mitsubishi Corp. are partnering to build a geothermal power plant in Japan as power companies increasingly look to boost supply from unconventional sources. To be located in the village of Minamiaso in ...

  • Expanding sales channels

    Purchase to give Nippon Life hand in independent agency market

    TOKYO -- Nippon Life Insurance plans to buy a midtier Japanese operator of independent insurance agencies, aiming to better respond to customer demand and expand its sales channels to connect with a younger base. Independent agencies allow custom...

  • Japanese budget airline

    2 banks to buy 33.4% stake in Skymark turnaround

    TOKYO -- Two lenders partnering with ANA Holdings will take a combined 33.4% stake in the rehabilitation of budget carrier Skymark Airlines, securing enough voting power to veto key decisions if necessary. The Development Bank of Japan and Sumito...

  • Infrastructure export

    Hitachi wins order for railway signals in Myanmar

    TOKYO -- Hitachi will supply a signal system to a Myanmar railway project in an order that ultimately could total 10 billion yen ($83 million). Working with trading house Mitsubishi Corp., the Japanese infrastructure builder will install a signal...

  • Empire building

    Alibaba buys Hong Kong brokerage

    HONG KONG -- Alibaba Group, China's largest e-commerce company, is ramping up its presence in Hong Kong through corporate buyouts and capital tie-ups, with local brokerage Reorient Group becoming the latest addition. According to a Hong Kong Stoc...

  • Bad news for rivals

    Wanda, Vanke team up to weather China's real estate slump

    HONG KONG -- Major Chinese property developers China Vanke and Dalian Wanda Group will join forces to get through protracted sluggishness in the real estate market. Wanda announced the move on a microblog Thursday morning. While details have yet ...

  • Industry consolidation

    India's Aditya Birla Retail to buy supermarket chain

    MUMBAI -- The retail arm of Indian conglomerate Aditya Birla Group will acquire a supermarket chain run by rival Jubilant Bhartia Group. The deal involves four supermarket stores in the southern city of Bangalore, Aditya Birla Retail said Tuesday...

  • Tie-up talks

    Hutchison and VimpelCom weigh Italian mobile merger

    HONG KONG -- Hong Kong conglomerate Hutchison Whampoa and Russian telecommunications company VimpelCom are in negotiations to combine their Italian mobile subsidiaries. According to Hutchison's announcement Thursday, they are discussing the merge...