CashNews.co TOKYO (AP) — Toyota’s July-September profit sank to less than half of what it was in the same period the previous year, as a production stoppage that followed a certification scandal and recalls dented vehicle sales, the Japanese automaker said Wednesday. Toyota Motor Corp.’s quarterly profit through September totaled 573.7 billion yen ($3.7 billion), […]
CashNews.co TOKYO (Reuters) – Japan’s service activity contracted in October on weaker sales, with business confidence slipping to the lowest level since March 2022 on concerns over shortage of labour, a private survey showed on Wednesday. The final au Jibun Bank Service purchasing managers’ index (PMI) dropped to 49.7 in October from 53.1 in September, […]
CashNews.co By Stephen Nellis (Reuters) – Tenstorrent, a Silicon Valley artificial intelligence chip startup founded by Apple and Intel veterans, said it had won a deal with the Japanese government to help train up to 200 Japanese chip designers at its U.S. offices over five years. The contract announced on Tuesday, under which $50 million […]
CashNews.co By Sam Nussey KITAKAMI, Japan (Reuters) – Bain Capital-backed Kioxia said on Tuesday it expects demand for flash memory to increase by about 2.7 times in the five years to 2028 on the back of the boom in artificial intelligence. The chipmaker, which was hammered by a downturn in the market for memory chips, […]
CashNews.co Japan Securities Finance Co (JP:8511) has released an update. Japan Securities Finance Co. reported a significant 32.8% increase in profit attributable to owners for the second quarter of FY2024, driven by gains from real estate and stock sales. Operating revenue also saw a healthy rise compared to the previous year. These preliminary results highlight […]
CashNews.co Matthews Japan Fund (Trades, Portfolio), a stalwart in Japanese equity investments, has recently disclosed its portfolio adjustments for the third quarter of 2024. Established on December 31, 1998, the fund is committed to long-term capital appreciation, focusing primarily on Japanese stocks. Employing a bottom-up, fundamental investment philosophy, Matthews Japan Fund (Trades, Portfolio) aims to […]
CashNews.co TOKYO — Japanese investment company Nikko Asset Management is making a full-fledge entry into private debt, a high-growth area in Asian finance that is drawing more Japanese players. Nikko Asset Management finalized a capital tie-up in June with French counterpart Tikehau Capital, which specializes in developing and selling private asset products. The sides will […]
CashNews.co Nishimura & Asahi has become the only one among Japan’s five largest law firms to launch a direct branch office in Hong Kong, mainly targeting Japanese corporations with subsidiaries or branches in the global financial centre. Ryuichi Sakamoto Ryuichi Sakamoto, a finance partner and the representative of Nishimura & Asahi’s Hong Kong office, tells […]
CashNews.co (Bloomberg) — The Bank of Japan shouldn’t raise interest rates again before March next year, according to Yuichiro Tamaki, a key potential ally for Japan’s weakened government. Most Read from Bloomberg The central bank needs to closely examine the results of next year’s wage deal results before moving on policy again, Tamaki told Bloomberg […]
CashNews.co Scandals are mounting at Nomura Holdings Inc., threatening to derail a turnaround plan at Japan’s biggest brokerage just as it’s beginning to bear fruit. Chief executive officer Kentaro Okuda and other top managers agreed on Thursday to take a pay cut after the firm admitted an employee manipulated the bond market, prompting several firms to stop […]