Nissan abandons Ghosn's US strategy after earnings plunge
Nikkei -- May 15
Nissan Motor will reverse the bullish expansion strategy led by former chairman Carlos Ghosn in pursuit of more moderate growth after its worst earnings performance in more than a decade.

Nissan said net profit in the fiscal year ending in March 2020 would fall 47% to 170 billion yen ($1.5 billion), based on an assumption that the yen will trade around 110.0 against the U.S. dollar during the year, from around 110.9 yen in the year just ended.

The company expects annual revenue to fall to 11.3 trillion yen, down 2.4%, with operating profit to slide 27% to 230 billion yen.

"We made a start after getting out of an unexpected event, but we still have accumulated issues," said Nissan CEO Hiroto Saikawa. "A majority of the problems is an outcome of the negative legacy from our previous structure. Our current focus is to get out of the sluggish earnings result."

"We will restructure our earnings as soon as possible to return to shareholders," said Saikawa, apologizing for cutting the company's expected dividend to 40 yen per share for the year to March 2020, down from 57 yen for the year ended in March.

Japan's second-biggest automaker said it will sell 5.54 million vehicles globally this fiscal year, and produce 5.40 million units, a slight increase from the 5.36 million units in the year ended in March.

Weak sales in its core U.S. market, as well as additional expenses arising from incentives to car dealers -- a costly discount strategy strategy employed by Ghosn to boost market share -- are still weighing heavily on the beleaguered company.

News source: Nikkei
Aug 21
Japan's current bubble tea craze has sent tapioca imports soaring to meet the demand for the drink made with cold milk and tapioca balls. (Asahi)
Aug 21
Japan has approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month, two sources told Reuters news agency, ahead of talks between government officials this week to resolve a bitter dispute stemming from their wartime past. (aljazeera.com)
Aug 21
Up to 3.41 million people, accounting for about 5 percent of Japan’s total labor force, are estimated to be working as freelancers, according to a recent survey conducted by the government. (Japan Times)
Aug 18
Japan will tighten control over foreign investments in domestic companies involved in semiconductors and other high-tech industries by focusing on the purchase of shares that carry voting rights, Nikkei learned Saturday. (Nikkei)
Aug 10
LCD maker Japan Display has escaped immediate bankruptcy by lining up 80 billion yen ($758 million) in aid from Chinese investors, but the company remains dogged by uncertainty over the long-delayed rescue. (Nikkei)
Aug 10
Japan's economy grew at a faster-than-expected clip in the second quarter, official data showed on Friday, helped by celebrations to usher in a new imperial era. (Japan Today)
Aug 10
Earnings season in Japan is highlighting a recent plunge in inbound spending and its impact on drugstore chains, cosmetics makers and department stores previously favored by big-spending Chinese tourists. (Nikkei)
Aug 09
To much of the world Japan is the home of video games. (newsonjapan.com)
Aug 08
Japan Post Bank appears set to place a limit on over-the-counter international cash transfers to better address money laundering. (NHK)
Aug 07
A government panel decided Tuesday to end Saturday delivery for standard mail to deal with a labor shortage at Japan Post Co and a drop in demand due to increased use of the internet. (Japan Today)