Japanese firms are shocked by Donald Trump's Twitter bomb dropped on Toyota Motor Corp. over a planned factory in Mexico, as their concerns about an attack by the U.S. president-elect have become reality.
Trump on Thursday threatened to impose a "big border tax" on Toyota if it builds the factory to manufacture Corolla sedans. Japanese companies doing business in North America are braced for the possibility of becoming Trump's next target.
Trump's tweet was apparently a response to a remark by Toyota President Akio Toyoda that the company will not change the Mexican factory plan.
Following the incoming president's online rage, Toyota published a statement Friday that it has "10 manufacturing facilities, 1,500 dealerships and 136,000 employees" in the United States and that it "looks forward to collaborating with the Trump administration."
Rakuten shares received a boost Wednesday following news of a stock buyback plan, but the rally's staying power is in question, as the Japanese company's key operations sputter including the mainstay e-commerce business in its home country. (Nikkei)
Japan's SoftBank Group Corp is prepared to give up control of Sprint Corp to Deutsche Telekom AG's T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers, according to people familiar with the matter. (Reuters)
Kanebo Cosmetics Inc. and 17 women, who were seeking a total of around 370 million yen ($3.2 million) in damages for developing blotches after using the company's skin-whitening products, reached a settlement Wednesday at the Yokohama District Court. (Kyodo)
Products bearing the image of "Kumamon," the black bear mascot of quake-hit Kumamoto Prefecture, racked up sales of at least 128 billion yen ($1.1 billion) in 2016, the prefectural government said Wednesday. (Japan Today)
The $3.3 billion acquisition by SoftBank Group Corp, the Japanese telecommunications, internet and solar energy giant, of Fortress Investment Group marks tycoon Masayoshi Son's latest step in building an investment empire. (Japan Today)
Tax-free store operator Laox, which once enjoyed record earnings from the phenomenon known as bakugai, or "explosive buying" by visitors to Japan, is struggling to keep up with consumers' shifting spending habits. (Nikkei)