Japan Patrol Ship Crew Says N.korean Boat Hit Them

Japan patrol ship crew says N.Korean boat hit them

The crew of a Japanese patrol ship says a North Korean fishing boat suddenly approached it and came into contact with the vessel.

The patrol vessel of the Japanese Fisheries Agency and the North Korean boat collided on Monday in Japan's exclusive economic zone in the Sea of Japan about 350 kilometers off the Noto peninsula in Ishikawa Prefecture.

Toyota Chief Engineer Says Next 86 Has To Surpass The Supra

Toyota Chief Engineer Says Next 86 Has To Surpass The Supra

Details about the second generation of the Toyota 86 are sketchy at best, but according to the automaker’s chief engineer Tetsuya Tada, who led the development of both the 86 and the A90 Supra, the next-gen compact sports car will be even better than the original.

Profits Trump Nissan Renault Alliance For Company Says Analysts

Profits trump Nissan Renault alliance for company says analysts

The next head of Nissan Motor Co will need to prioritize a recovery in profits at the troubled Japanese firm ahead of trying to fix its relationship with top shareholder Renault SA, executives and analysts say. Reviving earnings would strengthen the carmaker's hand in negotiations with its French partner, and is something Renault itself would welcome as the owner of a 43.4% stake in Nissan. Japan's second-largest automaker said on Monday CEO Hiroto Saikawa would step down on Sept. 16 after he admitted to being overpaid in breach of company rules. It's another heavy blow for Nissan, which is already reeling from the arrest of former chairman Carlos Ghosn last year and a subsequent plunge in earnings. Its stock is down 20% this year. For Saikawa's yet-to-be-named replacement, the top priority will be lifting profits from a more than decade low. Earnings have been undercut by years of heavy discounts and low-margin sales to rental firms that have cheapened Nissan's brand image. Renault, which has unsuccessfully sought a full-blown merger with its larger partner, is likely to give the Japanese firm time to focus on its turnaround, a Nissan executive said. "It goes without saying recovery is the biggest priority," the executive said, declining to be identified because the information is not public. "We have Renault's understanding on that." Tensions in the Nissan-Renault partnership worsened after Ghosn's arrest. He is awaiting trial in Tokyo on financial misconduct charges that he denies. The strain has sparked investor concern about the future of the Franco-Japanese automaking alliance at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. Nissan executives have long complained about their unequal partnership with Renault, which saved the Japanese firm from bankruptcy in 1999. Nissan holds a 15% stake in Renault, but without voting rights. Tokyo is also seen as being uneasy about the French government's 15% holding in Renault, which makes Paris an indirect shareholder in Nissan. "Profitability is likely to remain under pressure and it (Nissan) is unlikely to promptly reach an agreement with Renault over the future shape of the alliance," analysts at Standard & Poor's said in a note. Tensions worsened when Renault tried to in vain to merge with Nissan and then Fiat Chrysler. Both Renault Chairman Jean-Dominique Senard and the French government may now have to hold off on their expressed desire for stronger ties with Nissan. "It's also in the French government's interest for Nissan to improve its bottom line," Janet Lewis, head of Asia transportation research at Macquarie Securities. "Renault's share price is going to benefit much more from a healthy Nissan than any kind of merger agreement." COO Yasuhiro Yamauchi will take over from Saikawa next week on an interim basis as a newly created nominations committee will recommend a successor by the end of October. Possible candidates include Nissan veteran Jun Seki, and Makoto Uchida, who currently head's the automaker's China operations. Two key tasks for the new CEO will be to see through Nissan's recovery strategy in the United States, where it is trying to stop flooding the market with discounted cars, and execute plans announced by Saikawa in July to cut excess production at its global plants. Saikawa on Monday suggested that his plan to improve U.S. profit by producing higher-quality cars while weaning dealers off of sales incentives was already paying off, and that signs of recovery would be evident at first-half results next month. The new CEO will also oversee a cut of around one-tenth of Nissan's global workforce - its deepest job cuts since 2009 - and slash production capacity, shuttering underutilized plants built as part of Ghosn's aggressive growth strategy in 2011 to grab 8% global market share. While steep, the challenges facing Nissan now are different from 1999, said Macquarie's Lewis, referring to the time when Renault rescued the automaker from the brink bankruptcy and dispatched Ghosn to overhaul the Japanese company. "Nissan has a very strong balance sheet, it has a very profitable business in China. They have some problems in the U.S. but they're not insurmountable," she said. "This is not a 1999 situation where Nissan needs to be rescued."

Japan Says China Exports Fell In 1st Half

Japan says China exports fell in 1st half

Japan's exports to China fell in the first six months of the year as companies shifted production elsewhere to avoid trade tariffs. About 20 percent of Japan's exports go to China.

Finance Ministry statistics show China-bound shipments in January-to-June fell 8 percent to about 66 billion dollars from the same period last year. Exports to China in July also dropped by 9 percent on year to 12 billion dollars.

Abe Says G7 Leaders Focused On Global Economy

Abe says G7 leaders focused on global economy

Japanese Prime Minister Shinzo Abe says one of the main topics at the Group of Seven summit was the increasing uncertainty over the future of the global economy.

"With regard to the downside risks, we have agreed that we need to work together to carry out prompt and thorough measures to support the global economy," Abe said.

Sony Says Playstation Could Get Expensive Due To Trade War

Sony Says PlayStation Could Get Expensive Due To Trade War

Sony has reached the impressive milestone of selling 100 million units of the PlayStation but it sees dark clouds ahead as it looks towards the future. The company has warned that the ongoing trade dispute between the United States and China could result in the price of its consoles going up.

Sony’s financial boss Hiroki Totoki has said that if the United States expands tariffs on Chinese products, it would likely result in a price increase for PlayStation consoles. Totoki says that Sony is considering a number of options to deal with this eventuality and that passing that additional cost on to the customers is one such option.

Govt. Says No Impact On Japan Confirmed

Govt. says no impact on Japan confirmed

The Japanese government says it has confirmed that no ballistic missiles have entered Japan's territory or its exclusive economic zone. It also says there is no immediate threat to the country's national security.

A task force at the prime minister's office and other government offices are gathering information on the developments.