Nissan Posts $6.2 Billion Annual Loss And Unveils Plan To Cut Costs

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years.

Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi.

Mitsubishi Heavy Logs Operating Loss For Fy2019

Mitsubishi Heavy logs operating loss for FY2019

For fiscal 2019 Mitsubishi Heavy Industries has posted its first operating loss in two decades. This is mainly due to a delay in the development of the first Japanese-made passenger jet.

The company reported a loss of 29.5 billion yen, or over 274 million dollars, from business activities for the fiscal year that ended in March. This came after the firm took a loss of about 2.42 billion dollars related to the Mitsubishi Spacejet project.

Freelance Performers Suffering From Loss Of Income

Freelance performers suffering from loss of income

A survey says about 40 percent of freelance performers cannot expect any income this month, as they are hit by cancellations of cultural events due to the coronavirus pandemic.

The survey was jointly conducted online last week by 10 organizations involved in theater, dance and music. More than 2,900 people responded to the survey.

Softbank Group Expects First Loss In 15 Years

SoftBank Group expects first loss in 15 years

Japan's SoftBank Group is expecting an annual operating loss and net loss for the first time in 15 years.

The company says turmoil in the financial markets amid the coronavirus pandemic has hit the value of its investments.

Nissan Could Report First Quarterly Loss Since March 2009

Nissan could report first quarterly loss since March 2009

TOKYO — Nissan may report its first quarterly loss in more than a decade on Thursday because of slumping sales, sources familiar with the company said, adding more pressure on efforts to rebuild the company after Carlos Ghosn's ouster.

Deteriorating profits underscore the challenges facing Nissan, which is unwinding many of the expansionist strategies championed by ex-Chief Executive Officer and Chairman Ghosn by slashing jobs, production sites and product offerings to save cash and ensure its survival.

Mitsubishi Posts Surprise Quarterly Loss As Car Sales Slip

Mitsubishi posts surprise quarterly loss as car sales slip

TOKYO — Mitsubishi Motors on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and Southeast Asia, as well as a stronger yen. The carmaker posted an operating loss of 6.6 billion yen ($60.2 million) for the October-December quarter, widely missing an average forecast for a profit of 11.6 billion yen, based on analyst estimates compiled by Refinitiv. It was the firm's biggest loss since the July-September 2016 quarter, when a mileage cheating scandal sapped profits. However, Mitsubishi stuck to an earlier forecast for a 73% drop in full-year operating profit to 30 billion yen in the fiscal year ending in March. The automaker's net loss for the quarter just ended came in at 14.4 billion yen. The fall in quarterly sales was worst in China and at home, while sales also slipped in ASEAN countries, traditionally a stronghold, leading to a 16% fall in global vehicle sales to 320,000 units. The automaker also said it would keep some of its offices in China closed through Feb. 9, as a new coronavirus spreads throughout the country and beyond. The automaking alliance of Mitsubishi, Renault and Nissan on Thursday said they had "no other option" but to drastically improve their joint operations to remain competitive in the fast-changing global auto industry.

Endo Suffers 2nd Loss On 8th Day Of Sumo Tourney

Endo suffers 2nd loss on 8th day of Sumo tourney

On the eighth day of the New Year Grand Sumo Tournament on Sunday, Endo suffered his second loss in an anticipated match with another popular rank-and-file wrestler, Enho.

Enho has risen to his best ranking and attracted attention. Endo, who defeated two Yokozunas and one Ozeki wrestler earlier in the tournament, lost the much-watched bout.

Softbank Group Reports Half-yearly Operating Loss

Softbank Group reports half-yearly operating loss

The head of Softbank Group has admitted to some poor decisions after the firm reported its first April-to-September operating loss in 15 years.

Chairman & CEO Masayoshi Son took the blame for a handful of bad investments as Softbank posted a loss of more than 140 million dollars for the period.

Coach, Players Comment After Loss In World Cup

Coach, players comment after loss in World Cup

The coach and players of Nadeshiko Japan spoke after failing to advance to the quarterfinals in the Women's World Cup in France.

Coach Asako Takakura said she felt sorry that the team could not turn scoring opportunities in the second half into goals.

Toyota Quarterly Profit Dips, But Sales Rose; Honda Reports A Loss

Toyota quarterly profit dips, but sales rose; Honda reports a loss

TOKYO — Japan's top automaker Toyota said Wednesday its profit for January-March fell 4% as vehicle sales lagged in North America, while smaller car manufacturer Honda reported a loss. Toyota recorded a quarterly profit of 459.5 billion yen, or $4.2 billion, down from 480.8 billion yen in the same period the previous year. Quarterly sales rose 2% to 7.75 trillion yen ($70 billion), the company said. The maker of the Camry sedan, Prius hybrid and Lexus luxury models is projecting a profit of 2.25 trillion yen, or $20 billion, for the fiscal year through March 2020, up nearly 20% from 1.88 trillion yen ($17 billion) for the fiscal year through March 2019. The company said results for the fiscal year through March this year were hurt by the absence of a U.S. tax break that boosted earnings in the previous fiscal year, and by investment losses. Still, the 30.2 trillion yen ($275 billion) in annual revenue Toyota reported was the first time a Japanese company has recorded sales above 30 trillion yen ($273 billion), a milestone for Japan, according to Japanese media reports. For the fiscal year that ended in March, Toyota sold 10.6 million vehicles around the world, up from 10.4 million vehicles in the previous fiscal year. Toyota's vehicle sales grew in Europe and Asia excluding Japan, but fell in North America, an important and lucrative market. Chief Executive Akio Toyoda told reporters Toyota must adapt to changes in the industry, such as self-driving vehicles, net-connectivity, ecological technology and car-sharing, to stay competitive. "My mission is to put Toyota through a full model change to become a mobility company," instead of just a car manufacturer, he said. Toyoda noted partnerships with Uber and other Silicon Valley businesses, as well as with SoftBank Group Corp., a Japanese internet company, will offer technology for various fields, not just vehicles. Toyota's production methods, admired around the world for efficiency and worker empowerment, are advantages, he said. But Toyoda, a grandson of the automaker's founder who has led the company since 2009, also recalled memories of hardship, such as a massive recall fiasco that had him questioned in U.S. Congress in 2010. "Every day has been nerve-wracking," he said. Also Wednesday, Honda Motor Co. reported a loss of 13 billion yen ($118 million) for January-March, despite growing sales, as an unfavorable exchange rate, income tax expenses and other costs hurt results. Chief Executive Takahiro Hachigo announced Honda will streamline its product offerings, consolidating model variations, and increase parts-sharing to cut costs. Nissan, reeling from the arrest of its former chairman, Carlos Ghosn, on financial misconduct charges, reports financial results on May 14.

Honda Reportedly Will Close Car Plant In Uk With Loss Of 3,500 Jobs

Honda reportedly will close car plant in UK with loss of 3,500 jobs

LONDON — Japanese carmaker Honda is set to announce the closure of its Swindon car plant with the loss of 3,500 jobs, Sky News reported on Monday. Sky News said that the announcement by Honda could come on Tuesday, and that the plant was scheduled to close in 2022. Spokesmen for Honda were not immediately available to comment on the report. "That's speculation so we wouldn't comment on that," a spokeswoman for Britain's business ministry said. Honda built just over 160,000 vehicles at its British factory last year, where it makes the Civic Hatchback and Type R, accounting for just over 10 percent of Britain's total output of 1.52 million cars. It ceased building the CR-V crossover there last year. The firm said last month that it will shut its British operations for six days in April to help it counter any border disruption from the Britain's departure from the European Union. It has also said it was preparing to front-load some production at its plant to ship overseas or build up inventories. Factors other than Brexit are said to have contributed to Honda's decision, Sky News reported, but any such announcement would come just over two weeks after Nissan canceled plans to build its X-Trail sport utility vehicle in Britain. The BBC also reported that Honda was due to announce the plant's closure. It quoted a tweet from a conservative member of Parliament, Justin Tomlinson, who said, "Honda are clear this is based on global trends and not Brexit, as all European market production will consolidate in Japan in 2021."

Japanese carmakers Nissan, Toyota and Honda build roughly half of Britain's cars and, along with the rest of the sector, have been proponents of free and unfettered trade after Brexit, calling on politicians to provide clarity as soon as possible. U.S. carmaker Ford told British Prime Minister Theresa May last week that it may have to move some production out of Britain because of Brexit, according to a source on the call. Honda has struggled in Europe and built increasing proportions of its cars for sale outside of the continent in recent years. For example, the Civic Type R's engine is built in Ohio and shipped to Swindon.

The Yellow Monkey's Pv For 'i Don't Know' Shows Instability And Sense Of Loss

THE YELLOW MONKEY's PV for 'I don't know' shows instability and sense of loss

The PV for THE YELLOW MONKEY's new song "I don't know" has been uploaded onto YouTube. 

"I don't know" is a rock tune with the theme "memory," and it was used as the theme song for TV Asahi's drama 'Keiji Zero.' It will be included in their upcoming album "9999" due out on April 17. Directed by Artem Sky, the PV portrays "instability" and a "sense of loss" that he felt in the song. 

Japan Out Of World Cup With Loss To Belgium

Japan out of World Cup with loss to Belgium

Japan has been knocked out of the FIFA World Cup in Russia after losing to Belgium 3-2 in their round of 16 match.

The Japanese side was hoping to book a spot in the World Cup quarterfinals for the first time. At one point it led 2-0.