A voluntary recall had been announced by Toyota Motors around the globe due to a defective power window switch that could overheat, melt and lead to fires. According to Toyota, The recall includes 2.7 million vehicles in North America, 600,000 in Japan, and 1.2 million in Europe. The cars involved are Yaris, Corolla, Matrix, Camry, RAV4, Highlander, Tundra and other models, as reported by NBC New York.
Tags: Japan
Daniel Loeb's Third Point picks stake in Seven & I
The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
GoPro misses revenue targets on sluggish sales, marketing mistakes
GoPro Inc has announced quarterly results below the market forecast as the demand for new cameras has been sluggish in the market. Recently launched wearable cameras haven't been received well by the market.
Toshiba to sell sensor business to Sony for 20 billion yen, overhaul unprofitable semiconductor business
Japanese engineering conglomerate Toshiba announced on Wednesday that it will sell its image sensor business to Sony for a reported 20 billion yen, as it plans to overhaul its semiconductor business, which is still recovering from a $1.3 billion scandal.
Volkswagen says sorry in Japan auto show
Volkswagen AG, Europe's largest automaker, is maintaining an investment plan to build a new seven-seater sports utility vehicle. It is starting next year at its only manufacturing plant in Tennessee, although beset by issues of cost cuts in the wake of the company's diesel-emission manipulation scandal.
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Netflix reported a lower than expected performance today after the company reported a total revenue of $1.74 billion for its third quarter performance. The revenue contributes to earnings of $0.07 per share, which is lower than analyst expectation of $0.08 per share.
Japanese automobile major Toyota Motor Corp is planning to launch driverless cars in the market by 2020. Toyota will launch three models in semi-automatic range this year in Japan market. The semi-automatic cars equipped with Intelligent Transportation System (ITS) are technology-driven vehicles that change lanes, merge with traffic or even overtake other vehicles. The fourth generation Prius hybrid car is one among the three semi-automatic models is scheduled for launch in Japan market in 2015.
After five years of negotiations, 12 Pacific nations are about to conclude on a free trade agreement (FTA) as these countries have arrived on an understanding on Trans Pacific Partnership (TPP) deciding monopoly on new biotech drugs.
Japan is setting up a 53-megawatt solar powered station to be situated in northern Fukushima. Four lending institutions will back up the project namely Mitsubishi UFJ, Sendai-based 77 Bank which will provide the highest amount of loan of $57 million and other two lenders according to PV Magazine.
Marking a major development in US-China business relations, a group of firms from the world's second largest economy signed a deal with the US partner XpressWest to build a high-speed rail link between Los Angeles and Las Vegas.
The recent survey from Reuters shows that U.S. universities are the home of the most innovative projects. Though Asian universities have been fairly competent with universities from Korea, Japan, Singapore, and China.
While Korea is hurting from a long drop in exports, one industry is booming in shipments and posts double-digit growth. This draws the attention of policymakers seeking for a new way to grow its export.
Global markets these days have become more and more unpredictable with the US and Chinese stocks' consistent historical upswings and plunges in the past few months. To make things worse, the oil price has hit a six and a half year low. The condition can finally be compared to the days right after the 9/11 attacks.
Giant South Korean web portal operator Naver Corp is yet to decide on when put its messenger app unit Line Corp on Initial Public Offering (IPO) due to the present volatility of the market.
