Shanghai's maritime court has seized a ship owned by Mitsui O.S.K. Lines Ltd. <9104> in connection with a wartime contract dispute involving the Japanese shipping company, according to an announcement by the court.
It is very rare that the property of a Japanese company in China has been confiscated in a dispute over wartime property damage claims.
The move is apparently part of Chinese authorities' pressure against the Japanese government and Japanese companies as relations between the two countries have been strained due to history issues.
According to reports in China and other sources, a Chinese shipping company rent two ships to Daido, a predecessor to Mitsui O.S.K., in Shanghai in 1936. But the Japanese company allegedly failed to return the ships and continued to use them without paying rents after a one-year contract expired. The ships eventually sank.
As if accommodating Chinese visitors on their usual shopping sprees weren't enough, major Japanese retailers are now actively working to lure this demographic to their storefronts for the Lunar New Year. (Nikkei)
Sharp Corp. and Hon Hai Precison Industry Co. on Friday signed a contract granting the Taiwan electronics giant preferential rights to negotiate over a bailout plan for the struggling Japanese company. (the-japan-news.com)
Japan and Iran signed a bilateral investment pact Friday in a move aimed at helping Japanese firms do business in the resource-rich country amid intensifying foreign competition for its market access. (Kyodo)
Police referred a 16-year-old high school student to prosecutors on Friday on suspicion of using software on other people's computers to obtain the online account details of several hundred people, including records of their online shopping. (Japan Times)
Author Victor Hugo once said, "Virtue has a veil, vice a mask," but what if Japanese, contemporary, and fetish masks are your vice? You'll want to check out Tokyo Mask Festival Vol. 2! (rocketnews24.com)
Wakayama Prefectural Police have arrest of two members of the Takumi-gumi organized crime group for the robbery of a jewelry store in Wakayama City two years ago, reports Wakayama Broadcasting System (Feb. 4). (Tokyo Reporter)