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How Toshiba Lost $6 Billion

Since its founding in 1873 as Japan’s first maker of telegraph equipment, Toshiba has survived a litany of challenges, from the Great Kanto earthquake of 1923, to having its factories bombed into rubble during World War II, to the drubbing of the Zune mu ...

Daily Headline - global.abi.org - 02/20/2017 - 22:21 - 0 comments

Toshiba’s Meltdown: Chairman Out, $6.3 Billion Write-Down

Toshiba Corp.’s problems threatened to spiral out of control as the electronics giant projected a $6.3 billion write-down, postponed its earnings report because of allegations of impropriety and said its chairman was resigning—all in the space of a day, ...

Daily Headline - global.abi.org - 02/14/2017 - 20:21 - 0 comments

Takata Faces Fresh Bankruptcy Fears

Investors in Takata have begun to price in the growing risk of a court-led bankruptcy after Chinese-owned Key Safety Systems emerged as the leading bidder for the Japanese automotive supplier mired in a global recall crisis over exploding airbags, the ...

Daily Headline - global.abi.org - 02/06/2017 - 21:41 - 0 comments

China’s Global Auto Ambitions Get a Boost as Takata Picks Bidder

A year ago, Ningbo Joyson Electronic Corp. would have been an unlikely name on a shortlist of candidates to rescue Takata Corp., the Japanese air-bag maker that’s behind the biggest safety recall in automotive history. The Chinese components supplier, fo ...

Daily Headline - global.abi.org - 02/05/2017 - 21:38 - 0 comments

Takata Shares Fall Sharply as Specter of Bankruptcy Looms

Takata Corp. shares fell sharply Monday as investors rushed to sell ahead of a possible bankruptcy filing for the company, which faces a potential multibillion-dollar bill for recalls related to its faulty air bags, The Wall Street Journal reported. ...

Daily Headline - global.abi.org - 01/23/2017 - 21:38 - 0 comments

With Guilty Plea, Takata Clears Way for a Likely Global Rescue

With a $1 billion fine and a criminal guilty plea, Takata, the Japanese auto parts maker, took a major step on Friday toward putting the scandal over its deadly airbags behind it, the International New York Times reported. Next up: a sale of the fina ...

Daily Headline - global.abi.org - 01/16/2017 - 22:58 - 0 comments

Takata Restructuring Delayed as Bidders Evaluate Business

Takata Corp.’s selection of a potential buyer will miss the year-end target as the shortlisted bidders need more time to review the air-bag maker pummeled by a record auto-safety recall of its products, according to people familiar with the matter, Bloom ...

Daily Headline - global.abi.org - 12/15/2016 - 19:54 - 0 comments

Numbers of Japanese Elders in Workforce Soar

Despite Japan’s reputation for economic sluggishness, Tokyo is flooded with help-wanted signs. The unemployment rate has fallen to 3%, and on Tuesday the government said the number of unemployed people fell below two million for the first time since 1995 ...

Daily Headline - global.abi.org - 11/29/2016 - 21:47 - 0 comments

KKR No Longer In Bidding For Japan's Takata

U.S. buyout firm KKR & Co is no longer in the bidding to buy Takata Corp, the Japanese parts maker at the center of the world's biggest auto recall, according to a person briefed on the bidding process. KKR did not attend meetings last week betw ...

Daily Headline - global.abi.org - 11/02/2016 - 21:58 - 0 comments

3 Japanese Shipping Companies to Merge Container Businesses

In a fresh sign of the economic fallout from weaker global trade, Japan’s three largest shipping companies agreed on Monday to merge a major portion of their businesses, saying they needed to join forces to survive, the International New York Times D ...

Daily Headline - global.abi.org - 10/31/2016 - 18:42 - 0 comments

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