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Citigroup to sell Japan retail bank unit to SMBC

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JAPAN TODAY
 
Citigroup has agreed to sell its retail banking business in Japan to Sumitomo Mitsui Banking Corp, the companies said Thursday.
 
The deal involves the sale of Citibank Japan’s ATMs and 32 retail branches including 740,000 customer accounts and about 2.5 trillion yen (about $21 bill...

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Subaru scraps plan to shift Crosstrek production to U.S.

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JAPAN TODAY
 
Fuji Heavy Industries, the maker of Subaru brand cars and SUVs, has scrapped a plan to shift production of the new XV Crosstrek to its U.S. plant in Indiana and will instead make the crossover SUV in Japan, a source familiar with the company’s production plans said.
 
Fuji Heavy, wh...

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SMBC to buy Citi Japan retail business in October: sources

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REUTERS
 
Sumitomo Mitsui Banking Corp (SMBC) will buy Citigroup Inc's (C.N) Japanese retail banking operations in October for about 40 billion yen ($330 million), people with knowledge of the matter said on Wednesday.
 
The Sumitomo Mitsui Financial Group Inc (8316.T) unit will announce the long...

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Japan’s Farmers Brace for Change

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WALL STREET JOURNAL
 
ASHIWAZAKI, Japan—Like most Japanese farmers, Fumio Tamura works long hours and makes little money, especially with domestic rice prices down by around a quarter over the past couple of years.
 
“Rice has gotten so cheap that I can barely make any profit after paying all the...

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Narita passengers since 1978 opening top 900 million

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JAPAN TIMES
 
NARITA, CHIBA PREF. – The cumulative number of passengers at Narita International Airport in Chiba Prefecture topped 900 million Monday, 36 years and seven months after the airport’s opening.
 
Amid severe protests, the airport started operations with only one runway in May 1978. Bu...

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Thailand looking to Japan for railways revamp

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JAPAN TODAY
 
Thailand is talking to Japan with a view to building three rail routes in the Southeast Asian country, a Thai minister said on Saturday, the latest move by its military government to kick-start long-delayed plans to modernise its aging rail network.
 
Thailand wants three new lines ...

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Honda begins sales of all-new mini-vehicle N-BOX SLASH

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JAPAN TODAY
 
Honda Motor Co on Monday began sales of the all-new mini-vehicle, N-BOX SLASH, the fifth model of the N Series, at dealerships across Japan.
 
The N-BOX SLASH features a boxy and yet coupe-like form as well as complete coordination of exterior design with a custom car taste, bold in...

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Idemitsu eyes buyout of Shell Sekiyu

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JAPAN TODAY
 
Japan’s second-largest oil distributor Idemitsu Kosan is planning to acquire its smaller rival Shell Sekiyu in a deal worth an estimated $4.18 billion, a report said Saturday.
 
The deal, which would create a firm controlling nearly one third of the domestic market, would see Showa ...

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CEO of Japan energy start-up steps down after accounting probe

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JAPAN TODAY
 
The head of Japanese energy start-up Eneres Co, which debuted on Tokyo’s stock exchange amid much fanfare in October 2013, has resigned after an independent investigation flagged concerns over its accounting practices.
 
Eneres shares more than doubled in its first trading day and s...

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Japan announces solutions for suspended grid connection applications

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JAPAN TODAY
 
The Agency for Natural Resources and Energy of Japan’s Ministry of Economy, Trade and Industry (METI) has announced that it will review the operation of the feed-in tariff (FIT) policy with the aim of solving the problem of the suspension of grid connection applications.
 
The appli...

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