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G-7 To Take Steps On Global Steel Glut

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THE JAPAN NEWS
 
TOKYO (Reuters) — The Group of Seven nations will take steps to tackle a global glut in steel that many blame on overcapacity at Chinese producers of the material used in construction and cars, according to a draft text obtained by Reuters.
If adopted at the G-7 summit in Japan l...

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Takata Reports Y13.8 Bil Annual Loss

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JAPAN TODAY
 
TOKYO — Scandal-stricken Takata said on Wednesday it logged an annual net loss of 13.8 billion yen ($120 million), as the company struggles with a massive recall crisis over exploding airbags tied to 13 deaths in the United States and Malaysia.
U.S. auto safety regulators last week ...

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Sharp May Cut 3,000 Jobs in Japan

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THE JAPAN NEWS
 
The Yomiuri Shimbun
Sharp Corp., which is undergoing management restructuring, is considering a plan to cut up to 3,000 jobs, or about 15 percent of its workforce in Japan. The job cuts will likely take place in its poorly performing solar power business and head office administr...

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Toyota Expects Strong Yen To End String Of Record Profits

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THE JAPAN NEWS
 
TOKYO (Reuters) — Toyota Motor Corp. forecast a bigger-than-expected 35 percent tumble in net profit for the current year due to the sharp appreciation of the yen, ending three straight years of record profits driven in part by a weak currency.
The automaker said on Wednesday pro...

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Seven & i's New Head Keen On Advisory Role for Departing CEO Suzuki

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JAPAN TODAY
 
TOKYO — The incoming head of Japan’s Seven & i said he is keen for his predecessor Toshifumi Suzuki, who resigned last month after a power struggle, to become an adviser to the $90 billion retail conglomerate - an olive branch that could help mend a divided board.
The gesture by Ryu...

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Suzuki’s Kingdom / Hands-on Leaader Helped Seven-Eleven Japan Leap Forward

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THE JAPAN NEWS
 
The Yomiuri Shimbun
This is the fifth installment of a series.
“Annual sales of Seven Premium-brand products surpassed ¥1 trillion for the first time,” Ryuichi Isaka, president of Seven-Eleven Japan Co., proudly declared on March 30.
Isaka, 58, was speaking at a spring event to e...

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Toshiba Hires New President to Steer Past Accounting Scandal

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JAPAN TODAY
 
TOKYO — Scandal-hit Toshiba on Friday appointed a new president to steer the vast conglomerate past a huge accounting scandal that has hammered its reputation.
Company veteran Satoshi Tsunakawa, 60, a senior vice president who joined Toshiba in 1979, will replace incumbent chief Mas...

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Recent Rise In Yen Extremely Worrying

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JAPAN TODAY
 
TOKYO — Japan’s finance minister says the recent sharp rise in the yen is “extremely worrying”, adding Tokyo will take action when necessary.
The remarks, which suggest Tokyo’s possible market intervention, came after the Japanese unit surged to an 18-month high against the dollar i...

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Tokyo Stocks Suffer Setback On Yen’s Surge

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THE JAPAN NEWS
 
TOKYO (Jiji Press) — Tokyo stock prices took another plunge on Monday, with investor sentiment bruised by the yen’s ascent to an 18-month high against the dollar, which fueled worries about corporate earnings.
On the Tokyo Stock Exchange, a flurry of selling sent the benchmark Ni...

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Mitsubishi Motors Has Cash To Weather Scandal, But Brand Battered

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JAPAN TODAY
TOKYO — Mitsubishi Motors’ (MMC) market value and Japanese orders have halved since it admitted last week to rigging fuel economy tests, but with more than $4 billion in cash and low debt, the automaker should contain the potential damages.
The scope of its cheating also now seems mor...

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