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Western Digital resubmits bid with KKR for Toshiba chip unit

27 Jun

Western Digital Corp. has said it resubmitted a bid with U.S. investment fund Kohlberg Kravis Roberts for Toshiba Corp.’s chip unit in a last-minute effort as the electronics giant moves closer to clinching a deal with a Japanese government-led consortium. “Western Digital resubmitted a bid with KKR where Western Digital will provide debt financing to […]

Tokyo stocks climb on weaker yen

27 Jun

Stocks gained ground again Tuesday, supported by the yen’s fall against the dollar. The Nikkei 225 average added 71.74 points, or 0.36 percent, to end at 20,225.09. On Monday, the key market gauge climbed 20.68 points. The Topix, which covers all first-section issues, finished 6.81 points, or 0.42 percent, stronger at 1,619.02, its highest finish […]

Dollar sheds gains in Tokyo after rising above ¥112

27 Jun

The dollar shed gains versus the Japanese currency Tuesday in Tokyo after earlier rising above ¥112 on firmer stock markets in and outside Japan. At 5 p.m., the dollar stood at ¥111.63-63, still up from ¥111.45-46 at the same time Monday. The euro was at $1.1187-1187, down from $1.1200-1200, and at ¥124.88-89, up from ¥124.82-84. […]

Nintendo wows gaming fans with surprise release of Classic Mini: Super Famicom

27 Jun

Nintendo Co. has finally unveiled its long-rumored Nintendo Classic Mini: Super Famicom gaming console — to be released in Japan on Oct. 5 — in a surprise announcement that thrilled gamers across the nation. The unit will retail for ¥7,980, with an AC adapter to be sold separately for ¥1,000. As a reissue of the […]

Shareholders express anger at Takata management

27 Jun

Shareholders of Takata Corp. expressed disappointment and anger Tuesday over how the air bag maker’s top management has handled its product safety fiasco. Hiroshige Kono, 75, of Kawasaki, who came to a shareholders meeting in Tokyo the day after the company filed for bankruptcy protection under the Civil Rehabilitation Law, said it was a “mistake” […]

Takata’s new Chinese owner a big player in auto safety, looks to keep operations intact

27 Jun

Wang Jianfeng has been on an epic acquisition tear over the past decade, assembling a formidable auto parts empire in China with $4 billion in revenue. Now, the 46-year-old Wang, founder and chairman of Ningbo Joyson Electronic Corp., is about to pull off his biggest deal yet: a $1.59 billion takeover of Takata Corp., the […]

Hitachi’s AI badges boost worker performance with happiness advice

27 Jun

Hitachi Ltd. says its artificial intelligence system has helped improve business performance by advising workers on how to increase their happiness. “In running organizations, we’ve relied on experience and gut feelings until now,” Kazuo Yano, corporate chief scientist at Hitachi’s Research & Development Group, said Monday. The AI system “teaches (us) how to make people […]

China’s message to Asia’s casinos: Place your bets elsewhere

27 Jun

SYDNEY/HONG KONG – China just sent a clear message to casinos sprouting across Asia: don’t peddle your baccarat here. A Shanghai court on Monday convicted 19 Crown Resorts Ltd. current and former staff of illegally promoting gambling on the mainland, handing out prison sentences of as long as 10 months. While they could have faced […]

Prospective new Chinese owner big player in auto safety, looks to keep Takata operations intact

27 Jun

Wang Jianfeng has been on an epic acquisition tear over the past decade, assembling a formidable auto parts empire in China with $4 billion in revenue. Now, the 46-year-old Wang, founder and chairman of Ningbo Joyson Electronic Corp., is about to pull off his biggest deal yet: a $1.59 billion takeover of Takata Corp., the […]

Seattle’s $15 minimum wage has cost jobs, new study indicates

27 Jun

SEATTLE – Seattle’s $15-an-hour minimum wage law has cost the city jobs, according to a study released Monday that contradicted another new study published last week. A University of Washington team studying the law’s effects found that the law has boosted pay in low-wage jobs since it took effect in 2015, but that it also […]