Global chip makers are expanding their operations in Japan as the East Asian nation’s economy recovers from a 30-year low. According to the Nikkei Chinese website, Japan’s stock market has been on a winning streak, closing at 31,086.82 on May 22—the first time it exceeded 31,000 points since July 26, 1990 (31,369.75). It was the…

Global chip makers are expanding their operations in Japan as the East Asian nation’s economy recovers from a 30-year low. According to the Nikkei Chinese website, Japan’s stock market has been on a winning streak, closing at 31,086.82 on May 22—the first time it exceeded 31,000 points since July 26, 1990 (31,369.75). It was the…

Japan on April 11 signed contracts with Mitsubishi Heavy Industries to mass-produce long-range missiles as the country seeks to acquire “counterstrike capabilities” amid communist China’s growing military threats. Japan’s defense ministry awarded Mitsubishi with four contracts worth 378 billion yen ($2.8 billion), including mass production of ground-launched Type 12 guided missiles and a hypersonic ballistic…

While the latest gasoline engine Mitsubishi Outlander – the first built on the shared Renault-Nissan-Mitsubishi Alliance platform – was introduced last year, the second-gen plug-in hybrid version has finally been launched. Sharing many components with the above, and its cousin the Rogue, the powertrain however remains unique to the partially-electrified model, which is improved in…

TOKYO—Mitsubishi UFJ Financial Group Inc reported a 70 percent plunge in first-quarter net profit, blaming one-off losses related to the sale of MUFG Union Bank and a drop in the value of its stake in ride-hailing firm Grab Holdings. The bank, Japan’s largest lender by assets, booked an appraisal loss of 254 billion yen ($1.9…

TOKYO—Japan has protested a South Korean court order that assets seized from Mitsubishi Heavy Industries be sold off to pay compensation to two women subjected to forced labor for the company during Japan’s occupation of the Korean peninsula. A support group for the South Korean forced labor victims welcomed the court decision as a “step…

TOKYO—Mitsubishi UFJ Financial Group (MUFG) is pulling back from U.S. retail banking with the $8 billion sales of MUFG Union Bank (MUB) to U.S. Bancorp as digital technology and industry consolidation squeeze out smaller lenders. The deal includes $5.5 billion in cash and $2.5 billion worth of shares that will give Japan’s biggest lender a…

TOKYO—Mitsubishi Electric’s CEO said he will step down to take responsibility for “three decades of systematic deceit” during which the Japanese firm falsified inspection data for air conditioners and brake compressors used in trains. The admission by Mitsubishi, whose products range from air conditioners and vacuum cleaners to industrial printers and satellites, further dents Japan’s…