Mitsubishi Heavy Scraps Troubled Passenger Jet Project
capitalfm -- Feb 07
Mitsubishi Heavy Industries said Tuesday it had abandoned its struggling project to develop a passenger plane, a decade after the jet was due for commercial rollout.
The Japanese company said its SpaceJet, which suffered repeated delivery delays and technical glitches, had “failed to confirm sufficient business viability”.
The development of the twin-engine plane for short flights had marked a new chapter for Japan’s aviation sector, which last launched a commercial airliner in 1962.
But the project — started in 2008 under the name Mitsubishi Regional Jet, with the first deliveries planned for 2013 — had big trouble getting off the ground.
Some test flights were aborted because of air conditioning defects and other software problems, and the delays meant revisions to the original design were required. ...continue reading

beincrypto.com - Mar 28
Chinese tech giant Alibaba will open a blockchain laboratory in Japan next month in an effort to push Web3 adoption in the country.

theonlinecitizen.com - Mar 26
Nobutaka Sada, the President of bespoke suit company SADA, has become a viral sensation after successfully climbing Mount Kinabalu, the highest peak in Malaysia, while wearing a full suit and leather shoes.

Bloomberg - Mar 24
Japan’s inflation slowed for the first time in more than a year, as government energy subsidies masked the stronger underlying trend ahead of the Bank of Japan’s first leadership change in a decade.

Reuters - Mar 23
Toshiba Corp's board has accepted a buyout offer from a group led by private equity firm Japan Industrial Partners, valuing the company at 2 trillion yen ($15.2 billion), the company said on Thursday.

NOJ / TV Asahi - Mar 23
Suntory has announced that it will raise the prices of 11 domestically produced whisky brands, including Kakubin, starting July 1.

Nikkei - Mar 23
One of the most famous of Japan's ukiyo-e woodblock prints has sold for $2.76 million at the Christie's auction house in New York, a record for a print by Katsushika Hokusai.

Nikkei - Mar 23
Japan land prices gained the most in 15 years as a loose monetary policy and the lifting of COVID restrictions fueled demand for offices, condominiums and hotels.

Nikkei - Mar 23
Toyota Motor plans to discontinue sales of the Camry sedan in the Japanese market, focusing on countries where the automaker's 43-year-old flagship model remains popular.

NHK - Mar 23
Telecom giant NTT is joining efforts to fight telephone scams by offering free caller identification to households with older members.

Nikkei - Mar 18
The Bank of Japan's paper loss on Japanese government bond holdings grew more than 10 times at the end of last year from three months earlier as rises in long-term rates undercut the value of the assets.

Bloomberg - Mar 17
Ken Shibusawa, a member of Japanese Prime Minister Fumio Kishida's new capitalism panel and chairman of Commons Asset Management, discusses the challenges the economy, the government and the central bank face.

AFP - Mar 16
The hot springs at Tsuchiyu Onsen are beloved by bathers but also power a small geothermal plant, making use of an abundant yet barely tapped green energy source in Japan.

nasdaq.com - Mar 15
Japan's top companies offered their largest pay increases in a quarter century on Wednesday, as the outcome of annual labour talks showed Japan Inc heeding Prime Minister Fumio Kishida's calls for higher wages to counter a surge in inflation.

Nikkei - Mar 10
Japan's parliament on Friday approved academic Kazuo Ueda as the next Bank of Japan governor, entrusting him with the formidable task of minimizing the side-effects of the central bank's protracted monetary easing and preparing the ground for an exit strategy once its inflation target is within reach.

NHK - Mar 10
The prices of goods traded among companies in Japan rose in February. The increase was slower than the previous month due to slowing energy cost rises.