Business

SoftBank Group to acquire 40% stake in AutoStore for $2.8 billion
Japan Times - Apr 06
Norwegian robotics and software firm AutoStore AS said Monday that Japanese investment giant SoftBank Group Corp. will acquire 40% of its shares for $2.8 billion.

Mizuho president apologizes for ATM shutdowns
NHK - Apr 06
The president of one of Japan's major financial groups has apologized again for systems failures that shut down ATMs across the country. He said the problems have been fixed and the machines are more secure.

Sealed copy of Super Mario Bros. sets auction record at $660,000
Japan Times - Apr 04
A factory-sealed copy of Nintendo Co.’s Super Mario Bros. originally bought in 1986 has sold for $660,000 (about Y73.05 million) at U.S. auction house Heritage Auctions.

Japan cooking oil prices skyrocket
JapanNutrition.com - Apr 03
The price of cooking oil in Japan, which is indispensable for tempura, has risen sharply due to an increase in demand for soybeans and rapeseed.

Aso to look into warnings of major bank losses
NHK - Apr 03
Japan's financial services minister says regulators will look into the situation following warnings of massive losses by global banks.

Law urges companies to keep workers until 70
NHK - Apr 01
A new law requiring companies to try to keep their workers on the payroll until age 70 takes effect on Thursday in Japan.

Hitachi to buy US IT firm GlobalLogic
NHK - Apr 01
Japanese firm Hitachi has made a major acquisition to boost its information technology business overseas. The company will buy US software developer GlobalLogic for 9.6 billion dollars.

Why the Tokyo Olympics will be Japan’s ‘economic recovery’ games
South China Morning Post - Apr 01
The Tokyo 2020 Olympics, postponed due to Covid-19, will finally open on July 23 – with the Paralympics following from August 24 – although the organising committee has decided there will be no foreign fans and volunteers.

IMF chief says lack of fans at Olympics won't harm Japan's recovery
Japan Times - Mar 31
International Monetary Fund chief Kristalina Georgieva said Tuesday that Japan's economic recovery will not be derailed by staging the Tokyo Games without overseas spectators, while hailing the country's "strong response" to mitigate the fallout from the coronavirus pandemic through timely stimulus packages.

Owner of Asuka II to build Japan's largest luxury cruise ship
Kyodo - Mar 31
The owner of Japan's largest cruise ship, Asuka II, said Wednesday it will build an even bigger yet eco-friendly 51,950-ton ship with completion aimed for 2025, anticipating a post-pandemic recovery in travel demand.

Japan's retail sales fall for third straight month
WION - Mar 31
Underscoring the fragile nature of the economy's recovery from last year's slump, Japanese retail sales fell for the third straight month in February as households kept a lid on expenditure amid the coronavirus emergency.

Could Slots Overtake Pachinko in Popularity in Japanese Society?
newsonjapan.com - Mar 31
Gaming has always been a significant part of Japanese culture. When you visit the country, you’ll be taken aback by the number of arcades that house hundreds of locals and tourists trying to sample a piece of the action.

Container ship stranded in Suez Canal freed
NHK - Mar 30
Authorities in Egypt say a huge container ship that ran aground in the Suez Canal almost a week ago has been freed. Traffic through the canal is expected to resume following safety checks along the waterway.

Tokyo's landmark Imperial Hotel to be rebuilt
NHK - Mar 27
One of Tokyo's landmark hotels is slated for a 2-billion-dollar redevelopment plan. The operator says the project will make the Imperial Hotel Tokyo more competitive as availability of international 5-star accommodation has been increasing in the Japanese capital.

Muji promotes Xinjiang cotton as Chinese netizens lash rivals
Nikkei - Mar 26
Japanese fashion retailer Muji said on Thursday that its stores in China will continue to carry products made with Xinjiang cotton, separating itself from the uproar by Chinese netizens calling for a boycott of H&M and other foreign brands.

Line cuts off access from China to protect personal data in Japan
Nikkei - Mar 24
Japan's messaging app Line has stopped its Chinese affiliates and contractors from accessing the personal information of Japanese users, the company said Tuesday, in response to growing scrutiny over its data management practices.