Wartime Labor Plaintiffs To Apply For Asset Sales

Wartime labor plaintiffs to apply for asset sales

South Korean plaintiffs seeking damages for wartime labor plan to soon begin court procedures to sell assets seized from Japan's Mitsubishi Heavy Industries.

The plaintiffs include women who say they were forced to work for the Japanese firm during World War Two. Last November, South Korea's Supreme Court finalized lower court rulings awarding them compensation.

Norway Hydrogen Station Explodes, Toyota And Hyundai Halt Sales

Norway hydrogen station explodes, Toyota and Hyundai halt sales

A hydrogen station in Norway experienced an explosion on Monday, and the company who runs the station has since shut down 10 other hydrogen stations, according to several local sources. The station was in a suburb of the country's capital of Oslo. As of now, Nel Hydrogen (company who supplied the hydrogen and equipment) doesn't have an official explanation for the cause of the explosion. Reports from Norwegian outlets still don't specify or speculate as to the reasoning. There were no injuries or deaths that were a direct result of the explosion, but two people were taken to the hospital after the force of the blast caused the airbags to deploy in their car nearby.

In response to the incident, both Toyota and Hyundai have halted sales of their hydrogen-powered cars in Norway. The stations that Nel Hydrogen shut down are located across both Norway and other countries in Europe. For some context on the ownership of this station, Nel Hydrogen and Uno X (traditional fueling station company) have a joint agreement in operating that particular location. Due to some of the few stations being shut down across several countries, folks with hydrogen cars don't have many options for filling their cars at the moment.

Toyota Halts Fuel Cell Vehicle Sales As Hydrogen Station Explodes

Toyota Halts Fuel Cell Vehicle Sales As Hydrogen Station Explodes


Toyota has decided to halt sales of fuel cell vehicles in Norway after a hydrogen refueling station exploded earlier this week. The company that operated the station has also suspended operations at all of its other locations after the explosion. Hyundai has had a similar response to Toyota, it has temporarily stopped selling its fuel cell vehicles as well.

Even before electric cars become widely known as the one true alternative to combustion vehicles, hydrogen fuel cell technology has been regarded as one of the possible alternatives. However, such vehicles aren’t all that popular, largely due to the efficiency of the powertrain itself and longstanding concerns about the potential safety risks of using liquid hydrogen.

Toyota, Ram, Nissan Post Strong Sales In May

Toyota, Ram, Nissan post strong sales in May

Major automakers on Monday posted higher U.S. new vehicle sales for May, the first increase for 2019 as a strong economy and upbeat consumer sentiment fueled demand. Fiat Chrysler Automobiles NV,, Toyota Motor Corp and Nissan Motor Co Ltd all posted sales gains for May compared with the same month in 2018. U.S. new vehicle sales through April had fallen 3%, fueling expectations of a weaker year for automakers in 2019 than last year. Concerns of a downturn have been further heightened by recent threats from U.S. President Donald Trump that he will impose new tariffs on all Mexican imports. Fiat Chrysler (FCA) reported a 2.1% rise in sales, as demand for both light- and heavy-duty pickup trucks remained strong. The Ram pickup, a major profit-driver for FCA, had a 33% gain in sales versus May 2018. FCA and General Motors Co have both launched redesigned pickup trucks. Ford Motor Co has for decades built the single best-selling truck brand in its F-Series trucks, with the Chevy brand a solid No. 2 and Ram a distant third. But in the first quarter of this year, Ram brand trucks outsold Chevrolet-brand trucks. Both GM and Ford report sales quarterly instead of on a monthly basis. Japanese automaker Toyota posted a 3.2% sales increase, boosted by strong demand for its Camry sedans. Nissan said its sales rose 0.1%, driven by SUV and truck sales. The Japanese automaker's sales in the first fourth months of the year had fallen more than the industry average. Nissan has been heavily reliant on consumer discounts and low-margin fleet sales to boost U.S. demand, but has seen its market share drop since 2016. Honda Motor Co Ltd reported a 4.9% drop in sales for May, driven by declining sedan sales. Passenger car sales in the United States have fallen steadily in the last few years as Americans abandon sedans in favor of larger, more comfortable pickup trucks and SUVs, which are also far more profitable for automakers. U.S. auto sales are expected to be about 16.9 million units in 2019, a 2.5% fall from 2018, according to industry consultants J.D. Power and LMC Automotive.

Nintendo Switch Lifetime Sales Cross Ps4 In Japan

Nintendo Switch Lifetime Sales Cross PS4 In Japan


Sony has for long been the hardware king in Japan’s console market with the PlayStation 4 but it appears that Nintendo has taken that crown back. According to a new report, the lifetime sales of the Nintendo Switch have now surpassed the PlayStation 4 in the company’s home country. The Switch has sold more units than the PlayStation 4 in Japan.

The latest sales charts from Famitsu show that the Nintendo Switch has sold 8,125,637 units in Japan compared to the 8,077,756 units for the PlayStation 4 and the PlayStation 4 Pro combined. That’s certainly an impressive feat.

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.

Ps4 Sales Will Soon Cross 100 Million Units

PS4 Sales Will Soon Cross 100 Million Units


To say that the PlayStation 4 has been a massive hit for Sony would be an understatement. The console has consistently outsold the Xbox One and will soon cross another major milestone. According to the figures officially revealed by Sony, it won’t be long before the PS4 sales cross 100 million units.

Sony did caution last year that the PlayStation 4 sales had fallen for the very first time year-over-year. That has happened once again in 2019 but it’s still a pretty strong showing by Sony’s console. The company sold 17.8 million PS4 units in the fiscal year ending March 31st, slightly down from the 19 million units sold in the previous fiscal year.

The Nintendo Switch Has Surpassed The N64 In Lifetime Sales

The Nintendo Switch Has Surpassed The N64 In Lifetime Sales

Nintendo’s future felt a bit murky during the era of the Wii U, where Nintendo was attempting to build on the success of the Wii with an updated model with newer features. Unfortunately, it never quite took and it felt like Nintendo might just drop out of the console race entirely. However, the company managed to successfully rally with the Nintendo Switch.

Not only has the Switch sold pretty well, but it has also managed to surpass the Wii U’s lifetime sales and there are no signs that it is slowing down. This is because according to Nintendo’s latest financials, it has been revealed that the Switch has also managed to surpass another Nintendo console, this time in the form of the N64.

Nissan Leaf Becomes The First Ev To Surpass 400,000 Sales

Nissan Leaf becomes the first EV to surpass 400,000 sales

Nissan said Tuesday that the Leaf surpassed 400,000 sales, making it the first electric vehicle to hit that sales plateau. Of course, it's also had a hefty head start over its closest competitors, the Tesla Model 3 and the Chevrolet Bolt, having first gone on sale in late 2010, and it has a few other advantages as well. Not to rain on the Leaf parade or anything.

Now in its second generation and sporting improved driving ranges, Nissan says Leaf owners have driven their cars more than 6.2 billion collective miles, equating to an estimated savings of 3.8 million barrels of oil per year. The battery-powered hatchback is now available in more than 50 markets across the world, with six new markets coming on board during the first half of 2019 in Latin America, and seven across Asia and Oceania by year's end. The Leaf was the best-selling EV in Europe in 2018 and the top-selling vehicle of any kind in Norway last year, Nissan says.

Lexus Reaches 10 Million Sales Since Its Inception 30 Years Ago

Lexus reaches 10 million sales since its inception 30 years ago

Almost immediately after Matt Farah's famed second-generation LS400 became the million-mile Lexus, the Japanese luxury brand is celebrating another major milestone: Lexus has now sold 10 million vehicles globally.

The Toyota luxury division, whose first car debuted 30 years ago at the 1989 North American International Auto Show in Detroit, famously pursued "perfection" when it came to build quality and ownership experience. The smooth, V8-engined LS400 was quickly followed by smaller additions to the lineup, and in the time Lexus has been around, it has sold a wide range of vehicles, from the Camry-related ES line and Land Cruiser-related SUVs to the LFA supercar.