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Honda is scaling down its full-time production workforce in China, with roughly 1,700 employees having agreed to leave thus far. https://www.japantimes.co.jp/business/2024/05/15/companies/honda-cut-china-workforce/

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Rakuten has logged its fifteenth consecutive quarter in the red as losses at its mobile service network unit outweighed a record performance from its financial unit. https://www.japantimes.co.jp/business/2024/05/14/companies/rakuten-consecutive-loss/ #business #companies #rakuten #internet #phones #telecoms

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Sony Group said it expects operating income of ¥1.28 trillion in the year to March, missing analyst expectations for both profit and sales as PlayStation 5 hardware sales wane. https://www.japantimes.co.jp/business/2024/05/14/companies/sony-profit-outlook/

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Nomura Holdings has set its its sights on almost doubling its pretax profit by the end of the decade, as its Chief Executive Officer Kentaro Okuda seeks to build on last year’s earnings revival. https://www.japantimes.co.jp/business/2024/05/14/companies/nomura-growth-plan/

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In the years since Russia invaded Ukraine, Norwegian oil and gas giant Equinor has quietly picked up its crown. Norway now supplies 30% of Europe's gas, and roughly two-thirds of Norway's exports last year were sold by Equinor. https://www.japantimes.co.jp/business/2024/05/14/companies/europe-gas-supply-company/ #business #companies #gas #energy #eu #europe #equinorasa #lng #norway

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SpaceX is building launch facilities, office buildings and even a shopping center in rural Texas, but the state's property records show the space venture and its contractors can be far slower to pay builders and suppliers than they are to break ground. https://www.japantimes.co.jp/business/2024/05/14/companies/musk-spacex-texas-bills/ #business #companies #elonmusk #spacex #texas #us #x

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President Emmanuel Macron has said he would be open to seeing a major French bank being taken over by a European Union rival in order to spur the deeper financial integration he sees as critical for the bloc’s future prosperity. https://www.japantimes.co.jp/business/2024/05/14/companies/macron-french-banks-europe/

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Japan’s legacy automakers are jumping on the big-tech bandwagon as they race to revive waning interest among Chinese consumers. https://www.japantimes.co.jp/business/2024/05/14/companies/japan-carmakers-china-push/

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Blackstone is working with the management of I’rom Group to take the Japanese pharmaceutical services company private. https://www.japantimes.co.jp/business/2024/05/13/companies/blackstone-drug-trial-firm-private/

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SoftBank Group reported a second straight quarter of profitability on Monday as the Japanese tech conglomerate benefits from an artificial intelligence investment boom that has buoyed prized assets like Arm Holdings. https://www.japantimes.co.jp/business/2024/05/13/companies/softbank-1q-profit/

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With scorching heat in the summer stopping many from going outside and shopping, some specialty stores and manufacturers in Japan are focusing on selling "cold bread" that can be eaten like a dessert. https://www.japantimes.co.jp/business/2024/05/13/companies/japan-frozen-bread/

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Chinese e-commerce giants are facing a delicate balance between discounts and profit, as consumers look for lower-cost shopping. https://www.japantimes.co.jp/business/2024/05/13/companies/chinese-ecommerce-giants-profit/

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The number of corporate bankruptcies in Japan rose 28.3% from a year earlier to 783 in April as smaller firms struggled to pass on higher costs stemming from rising prices to customers, credit research firm Tokyo Shoko Research has said. https://www.japantimes.co.jp/business/2024/05/11/companies/japan-corporate-bankruptcies-rise/

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South Korea's Naver said on Friday it is exploring various options including the potential sale of its stake in the company that controls LY, which operates the popular messaging app Line. https://www.japantimes.co.jp/business/2024/05/10/companies/naver-line-operator/

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Japan's logistics companies are boosting ties to maintain delivery services amid concerns about a looming truck driver shortage stemming from new regulations capping overtime. https://www.japantimes.co.jp/business/2024/05/10/companies/logistics-firms-partnerships/ #business #companies #trucks #workstylereform #jobs #laborlaws

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Japanese steelmakers have raised concerns with Australian authorities that BHP Group could become too dominant in the global supply of coking coal if it goes ahead with a takeover of Anglo American. https://www.japantimes.co.jp/business/2024/05/10/companies/japan-steelmakers-bhp-anglo-american/

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SoftBank Group’s flagship Vision Fund has sold or written down billions of dollars’ worth of holdings in recent years as founder Masayoshi Son shifts away from away venture capital deals toward investments in semiconductors and artificial intelligence. https://www.japantimes.co.jp/business/2024/05/10/companies/softbank-vision-fund/

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J-Power says it may close up to five coal-fired power generation units by fiscal 2030 as part of its efforts to reduce carbon dioxide emissions. https://www.japantimes.co.jp/business/2024/05/10/companies/j-power-coal-plants/

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China is losing its luster as a top country to invest in as firms seek to avoid geopolitical risks, according to a survey by European Union Chamber of Commerce in China. https://www.japantimes.co.jp/business/2024/05/10/companies/europe-china-investment-appetite-low/

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Nissan said Thursday that it nearly doubled its full-year net profit in 2023-24 but forecast a dip of around 10% for the current financial year. https://www.japantimes.co.jp/business/2024/05/09/companies/nissan-profit-doubles/

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Japan's Nippon Steel is sticking to its plan to finalize its $15 billion acquisition of U.S. Steel by year-end, despite political resistance. https://www.japantimes.co.jp/business/2024/05/09/companies/nippon-steel-deal-plan/

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Panasonic Energy's operating profit for the past business year fell short of its forecast due to lower electric vehicle battery production in Japan and a fall in sales of consumer products. https://www.japantimes.co.jp/business/2024/05/09/companies/panasonic-battery-unit-earnings/

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SoftBank Group is reportedly in talks to acquire Graphcore, a struggling British semiconductor startup once valued $2.8 billion (¥435.9 billion), according to people familiar with the matter. https://www.japantimes.co.jp/business/2024/05/09/companies/softbank-graphcore-acquisition/

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Toyota said that it posted a record net profit of ¥4.94 trillion ($31.9 billion) in the year to March thanks to foreign currency effects and brisk sales, notably of hybrid vehicles. https://www.japantimes.co.jp/business/2024/05/08/companies/toyota-posts-record-yearly-net-income-revenue/ #business #companies #toyota #electricvehicles #hybrids #carmakers

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A Japanese startup says it aims to use artificial intelligence to help translate manga comics into English five times faster and 90% cheaper than at present. https://www.japantimes.co.jp/business/2024/05/08/companies/startup-to-use-ai-to-translate-manga/

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