News On Japan

Toshiba facing nearly $1bn in claims from accounting scandal

Jun 14, 2017 (Nikkei) - Toshiba disclosed Tuesday a lawsuit from 70 plaintiffs, including foreign banks and institutional investors, that seek about 43.9 billion yen ($399 million) for losses they blame on the dodgy accounting that came to light in 2015.

The complaint was filed with the Tokyo District Court on April 3 and served Monday, the company said. The Japanese group has now been hit with 26 suits from institutional and individual investors relating to the scandal, demanding a total of around 108.4 billion yen in compensatory damages. This creates a potential stumbling block to efforts to repair the damage from losses in its U.S. nuclear power business.

Source: ANNnewsCH

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Large Typhoon No. 25 was moving northwest over waters south of Japan at 3 p.m. on September 19 and is forecast to strengthen as it approaches Kanto and the Izu Islands from September 20 through September 21, bringing the risk of torrential rain, violent winds and further damage in areas still recovering from last year's typhoon.

A black bear has been spotted near one of the most popular hiking trails on Mount Takao in western Tokyo, prompting authorities to urge visitors to take precautions ahead of the five-day Silver Week holiday and the approaching autumn foliage season.

Starbucks is considering selling a majority stake in its Japanese business, potentially valued at as much as $3 billion, or about 470 billion yen, as the U.S. coffee chain seeks to concentrate management resources on its struggling North American operations.

Japan's Halloween Jumbo Lottery went on sale nationwide on September 16, offering a combined top payout of 400 million yen for the first prize and its adjacent-number prizes.

A new top-tier "Supreme Class" offering fully private compartments above the level of Green Car service will debut on the Tokaido and Sanyo Shinkansen on October 1, with passengers able to experience the new seating at a demonstration booth at Shin-Osaka Station.

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