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Japan economy contracts in 4th qtr

TOKYO, Japan - Japanese economic and fiscal policy minister Akira Amari holds a press conference in Tokyo on Feb. 14, 2013, on the country's gross domestic product data for the fourth quarter of 2012, released earlier in the day. Japan's economy shrank an annualized real 0.4 percent in October-December for the third straight quarterly contraction.

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Tokyo's Imperial Hotel hid 130 mil. yen in income

TOKYO, Japan - Undated file photo shows Imperial Hotel, a leading luxury hotel in the central Tokyo, Japan. Its operator, Imperial Hotel Ltd., was charged by the taxation authority for underreporting its total income by some 130 million yen for fiscal 2012 by booking yet-to-be-paid construction costs.

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Olympus returns to black in FY 2012

TOKYO, Japan - Hiroyuki Sasa, president of Olympus Corp., holds a press conference in Tokyo on May 15, 2013, to release the company's earnings for fiscal 2012. Olympus said it returned to the black in the year ended March 31, 2013, with a group net profit of 8.02 billion yen, compared with a loss of 48.99 billion yen in the previous year, due partly to an improvement in its medical business.

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Sony posts 1st net profit in 5 yrs

TOKYO, Japan - Sony Corp. Chief Financial Officer Masaru Kato speaks during a press conference at the Tokyo Stock Exchange in Tokyo on May 9, 2013. Sony posted a group net profit of 43.03 billion yen for fiscal 2012 ended in March 2013, returning to the black for the first time in five years, citing sales of assets and the benefit of a weaker yen.

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Sony posts 1st net profit in 5 yrs

TOKYO, Japan - Sony Corp. Chief Financial Officer Masaru Kato (2nd from front in left row) speaks during a press conference at the Tokyo Stock Exchange in Tokyo on May 9, 2013. Sony posted a group net profit of 43.03 billion yen for fiscal 2012 ended in March 2013, returning to the black for the first time in five years, citing sales of assets and the benefit of a weaker yen.

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Toyota expects 36% profit jump

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda (L) and Nobuyori Kodaira, an executive vice president, attend a press conference in Tokyo on May 8, 2013, to release the company's earnings report for the just-ended fiscal 2012 and earnings forecast for fiscal 2013. Japan's largest automaker said it expects to book a group operating profit of 1.8 trillion yen for the current business year ending in March 2014, up 36.3 percent from the year before, on the back of a weaker yen and brisk sales in North America and Asia.

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Toshiba's profit rises 10%

TOKYO, Japan - Makoto Kubo, senior managing director of Toshiba Corp., releases the company's earnings report for fiscal 2012 at a press conference in Tokyo on May 8, 2013. Toshiba's group net profit for the year to March 31, 2013, rose 10.7 percent from the previous year to 77.53 billion yen despite a 4.9 percent fall in sales to 5.8 trillion yen.

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Toyota expects 36% profit jump

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda ends a press conference in Tokyo on May 8, 2013, held to release the company's earnings report for the just-ended fiscal 2012 and earnings forecast for fiscal 2013. Japan's largest automaker said it expects to book a group operating profit of 1.8 trillion yen for the current business year ending in March 2014, up 36.3 percent from the year before, on the back of a weaker yen and brisk sales in North America and Asia.

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Toyota expects 36% profit jump

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda is surrounded by reporters after a press conference in Tokyo on May 8, 2013, held to release the company's earnings report for the just-ended fiscal 2012 and earnings forecast for fiscal 2013. Japan's largest automaker said it expects to book a group operating profit of 1.8 trillion yen for the current business year ending in March 2014, up 36.3 percent from the year before, on the back of a weaker yen and brisk sales in North America and Asia.

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Toyota expects 36% profit jump

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda attends a press conference in Tokyo on May 8, 2013, to release the company's earnings report for the just-ended fiscal 2012 and earnings forecast for fiscal 2013. Japan's largest automaker said it expects to book a group operating profit of 1.8 trillion yen for the current business year ending in March 2014, up 36.3 percent from the year before, on the back of a weaker yen and brisk sales in North America and Asia.

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Toyota expects 36% profit jump

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda attends a press conference in Tokyo on May 8, 2013, to release the company's earnings report for the just-ended fiscal 2012 and earnings forecast for fiscal 2013. Japan's largest automaker said it expects to book a group operating profit of 1.8 trillion yen for the current business year ending in March 2014, up 36.3 percent from the year before, on the back of a weaker yen and brisk sales in North America and Asia.

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Panasonic eyeing withdrawal from plasma TV operations

OSAKA, Japan - Photo taken in January 2012 shows Panasonic Corp.'s plants in Amagasaki, Hyogo Prefecture. Panasonic is considering withdrawing from plasma television operations possibly in fiscal 2014 as part of efforts to focus more on profitable products, corporate sources said on March 18, 2013.

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Japan's Diet enacts FY 2012 extra budget

TOKYO, Japan - Prime Minister Shinzo Abe bows at a plenary session of the House of Councillors in Tokyo on Feb. 26, 2013, after Japan's parliament enacted a 13.1 trillion yen ($140.7 billion) supplementary budget for fiscal 2012. To the left is Finance Minister Taro Aso.

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Nintendo slashes FY 2012 outlook

OSAKA, Japan - Nintendo Co. President Satoru Iwata holds a press conference in Osaka on Jan. 30, 2013. The game console maker revised downward its earnings outlook for fiscal 2012 ending March, forecasting a 20 billion yen group operating loss after seeing sluggish year-end sales.

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Aso holds phone talks with Geithner

TOKYO, Japan - Japanese Finance Minister Taro Aso (C) answers reporters' questions at the ministry in Tokyo on Dec. 28, 2012, after holding a 30-minute phone conversation with U.S. Treasury Secretary Timothy Geithner. Aso said he had asked Geithner to address uncertainty over U.S. fiscal policy, while acknowledging the over-valuation of the yen has been correcting recently.

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New economic policy minister Amari

TOKYO, Japan - New economic and fiscal policy minister Akira Amari is interviewed by Japanese media organizations in Tokyo on Dec. 28, 2012.

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Abe aims to boost Japan economy with tax reforms

TOKYO, Japan - Shinzo Abe (standing), head of the Liberal Democratic Party, speaks at a meeting of the party's tax panel at the LDP's headquarters in Tokyo on Dec. 21, 2012. Abe, who is set to become Japan's next prime minister, said he will speed up tax reforms to boost the economy, highlighting his aim of fully using fiscal measures to beat chronic deflation in the country.

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Japan keeps economic assessment

TOKYO, Japan - Bank of Japan Governor Masaaki Shirakawa (far R), Japanese economic and fiscal policy minister Seiji Maehara (C) and Japanese Prime Minister Yoshihiko Noda (far L, front) attend a meeting of Cabinet ministers concerned on the government's monthly economic report at the prime minister's office in Tokyo on Dec. 21, 2012. The government maintained its basic assessment of the Japanese economy, saying it is weakening amid the global economic downturn, but also noted signs of bottoming out in some key indicators such as production and consumption.

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New uniforms for JAL employees

TOKYO, Japan - Japan Airlines Co. unveils Dec. 20, 2012, at Tokyo's Haneda airport new uniforms for its pilots, cabin attendants and other employees to be introduced during the first half of the fiscal year starting April 2013.

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New uniforms for JAL employees

TOKYO, Japan - Japan Airlines Co. unveils Dec. 20, 2012, at Tokyo's Haneda airport new uniforms for its pilots, cabin attendants and other employees to be introduced during the first half of the fiscal year starting April 2013.

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Honda Motor president

TOKYO, Japan - Honda Motor Co. President Takanobu Ito speaks during an interview with Kyodo news in Tokyo on Dec. 18, 2012. Ito said the company is eyeing boosting production capacity in emerging Asian countries to help achieve its goal of doubling global auto sales to more than 6 million units in the five years through fiscal 2016.

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Japan's greenhouse gas emissions

DOHA, Qatar - Japanese Environment Minister Hiroyuki Nagahama answers reporters' questions on Dec. 5, 2012, in Doha, Qatar, where the 18th United Nations Conference of the Parties to the U.N. Framework Convention on Climate Change is being held. Greenhouse gases equivalent to 1,307 million tons of carbon dioxide were emitted in Japan in fiscal 2011 through March 2012, up 3.9 percent from the previous year, the Environment Ministry said the same day in a preliminary report.

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Japan economy stagnates in 3rd qtr

TOKYO, Japan - Japanese economic and fiscal policy minister Seiji Maehara gives a press conference in Tokyo on Nov. 12, 2012 on the country's gross domestic product data for the third quarter of 2012, released earlier in the day. GDP contracted an annualized real 3.5 percent from the previous quarter.

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Nissan lowers earnings outlook

TOKYO, Japan - Nissan Motor Co. Chief Operating Officer Toshiyuki Shiga holds a news conference in Tokyo on Nov. 6, 2012. The automaker said it has revised downward its earnings forecasts for fiscal 2012, amid plunging sales in China in the wake of recent anti-Japan protests in the country and the eurozone debt crisis.

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Sharp foresees record net loss

TOKYO, Japan - Sharp Corp. President Takashi Okuda speaks during a press conference in Tokyo on Nov. 1, 2012. Sharp announced it expects to post its largest-ever group net loss of 450 billion yen for fiscal 2012 to March 31, 2013, due mainly to its flagging television business.

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Sharp foresees record net loss

TOKYO, Japan - Sharp Corp. President Takashi Okuda speaks during a press conference in Tokyo on Nov. 1, 2012. Sharp announced it expects to post its largest-ever group net loss of 450 billion yen for fiscal 2012 to March 31, 2013, due mainly to its flagging television business.

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Sharp foresees record net loss

TOKYO, Japan - Sharp Corp. President Takashi Okuda speaks during a press conference in Tokyo on Nov. 1, 2012. Sharp announced it expects to post its largest-ever group net loss of 450 billion yen for fiscal 2012 to March 31, 2013, due mainly to its flagging television business.

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Sharp foresees record net loss

TOKYO, Japan - Sharp Corp. President Takashi Okuda speaks during a press conference in Tokyo on Nov. 1, 2012. Sharp announced it expects to post its largest-ever group net loss of 450 billion yen for fiscal 2012 to March 31, 2013, due mainly to its flagging television business.

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Sharp to forecast record net loss of 450 bil. yen

OSAKA, Japan - Photo taken in September 2012 shows the headquarters of Sharp Corp. in Osaka's Abeno Ward. Sharp will revise down its earnings forecast for the current fiscal year ending March 31, 2013, projecting a record group net loss of 450 billion yen, mainly due to its flagging television-making business, sources close to the matter said Nov. 1, 2012.

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Panasonic expects to incur huge loss in FY 2012

TOKYO, Japan - Kazuhiro Tsuga, president of Panasonic Corp., speaks at a news conference in Tokyo on Oct. 31, 2012. The electronics maker said it expects to book a group net loss of 765 billion yen in fiscal 2012 ending March 31, incurring a hefty loss for the second straight year due to massive restructuring costs amid a continued slump in its mainstay electronics operation.

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TEPCO logs 299 bil. yen group net loss for 2nd qtr

TOKYO, Japan - Tokyo Electric Power Co. President Naomi Hirose speaks about the outlook for fiscal 2012 ending March 31 at the company's head office in Tokyo on Oct. 31, 2012. The utility known as TEPCO reported a group net loss of 299.48 billion yen for the April to September half, pressured by higher fossil fuel costs to make up for the halt in nuclear power generation following the disaster at its Fukushima Daiichi complex in 2011.

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Kansai Electric Power

OSAKA, Japan - File photo taken in September 2012 shows Kansai Electric Power Co.'s head office in Osaka, western Japan. The company is considering skipping year-end dividend payments for the fiscal year through March 2013 as its business is deteriorating, sources close to the issue said on Oct. 23, 2012.

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Maehara, Draghi

TOKYO, Japan - Japan's economic and fiscal policy minister Seiji Maehara (L) shakes hands with European Central Bank President Mario Draghi ahead of their meeting in Tokyo on Oct. 13, 2012.

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Maehara meets Bernanke

TOKYO, Japan - U.S. Federal Reserve Chairman Ben Bernanke (R) and Japanese economic and fiscal policy minister Seiji Maehara shake hands prior to holding talks in Tokyo on Oct. 12, 2012 to exchange views on monetary policies in their respective countries and on the global economy. (Pool photo)

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Maehara meets Bernanke

TOKYO, Japan - U.S. Federal Reserve Chairman Ben Bernanke (R) and Japanese economic and fiscal policy minister Seiji Maehara hold talks in Tokyo on Oct. 12, 2012 to exchange views on monetary policies in their respective countries and on the global economy. (Pool photo)

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LDP leader candidates in discussions

TOKYO, Japan - Five candidates running in the upcoming presidential election of the main opposition Liberal Democratic Party -- (from L) Former Prime Minister Shinzo Abe, former Defense Minister Shigeru Ishiba, former Foreign Minister Nobutaka Machimura, LDP Secretary General Nobuteru Ishihara and former economic and fiscal policy minister Yoshimasa Hayashi -- hold discussions at the Japan National Press Club in Tokyo on Sept. 15, 2012.

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LDP leader candidates in discussions

TOKYO, Japan - Five candidates running in the upcoming presidential election of the main opposition Liberal Democratic Party -- (from L) Former Prime Minister Shinzo Abe, former Defense Minister Shigeru Ishiba, former Foreign Minister Nobutaka Machimura, LDP Secretary General Nobuteru Ishihara and former economic and fiscal policy minister Yoshimasa Hayashi -- join hands prior to their discussions at the Japan National Press Club in Tokyo on Sept. 15, 2012.

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LDP leadership race

TOKYO, Japan - Yoshimasa Hayashi, a former economic and fiscal policy minister, speaks during an event for Liberal Democratic Party leadership election candidates to make speeches at the LDP headquarters in Tokyo on Sept. 14, 2012. Five men including Hayashi filed their candidacies in the Sept. 26, 2012, presidential election of the Japanese main opposition party.

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LDP leadership race

TOKYO, Japan - (from L) Former Prime Minister Shinzo Abe, former Defense Minister Shigeru Ishiba, former Foreign Minister Nobutaka Machimura, Liberal Democratic Party Secretary General Nobuteru Ishihara and Yoshimasa Hayashi, a former economic and fiscal policy minister, attend an event to make speeches at the headquarters of the main opposition party in Tokyo on Sept. 14, 2012. The five men filed their candidacies in the Sept. 26, 2012, LDP presidential election.

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Yosano to retire from politics

TOKYO, Japan - Undated file photo shows Japanese veteran lawmaker Kaoru Yosano. He will not run in the next general election and will retire from politics due to health problems, sources close to him said on Sept. 5, 2012. Yosano joined the Cabinet of then Prime Minister Naoto Kan as economic and fiscal policy minister in January 2011 and played a major role in drawing up Japan's controversial sales tax hike plan.

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Coming-of-age ceremony in Fukushima

KAWAUCHI, Japan - Young women smile after a ceremony for young people coming of age this fiscal year in the Fukushima Prefecture village of Kawauchi on Aug. 14, 2012. Some villagers returned home earlier this year after all the villagers were forced to evacuate in the wake of the nuclear crisis in 2011.

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Coming-of-age ceremony in Fukushima

KAWAUCHI, Japan - Kawauchi Mayor Yuko Endo (R) hands a certificate to a young woman during a ceremony for young people coming of age this fiscal year in the Fukushima Prefecture village of Kawauchi on Aug. 14, 2012. Some villagers returned home earlier this year after all the villagers were forced to evacuate in the wake of the nuclear crisis in 2011.

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Hitachi aims to quadruple sales in Brazil by FY 2015

SAO PAULO, Brazil - Hiroaki Nakanishi, president of Hitachi Ltd., speaks at a press conference in Sao Paulo on July 24, 2012. Nakanishi said the Japanese electronics maker aims to quadruple its sales in Brazil to 120 billion yen by the end of fiscal 2015 by investing 24 billion yen in the country by fiscal 2015.

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BOJ refrains from more easing

TOKYO, Japan - Bank of Japan Governor Masaaki Shirakawa enters the central bank's head office in Tokyo on July 12, 2012. The BOJ decided later in the day to refrain from taking additional monetary easing steps amid encouraging signs in the domestic economy, while downgrading its forecast for the country's core consumer price index in fiscal 2012 on the back of the recent fall in crude oil prices. (Pool photo by Kyodo News)

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U.S. Sens. Levin, McCain on defense bill

WASHINGTON, United States - U.S. Sen. Carl Levin (L), chairman of the Senate Armed Services Committee, and committee member Sen. John McCain, hold a press conference on Capitol Hill in Washington on May 24, 2012, to discuss the National Defense Authorization Act for fiscal year 2013. The U.S. Senate has effectively rejected for a second-straight year funding for the planned partial transfer of U.S. Marines stationed in Japan's Okinawa Prefecture to Guam, as the committee cut the entire $26 million requested for the transfer while approving next fiscal year's defense budget earlier in the day.

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8 babies left at 'baby hatch' in Kumamoto

KUMAMOTO, Japan - Taiji Hasuda, president of Jikei Hospital in Kumamoto, speaks at a press conference in the southwestern Japanese city on May 22, 2012. Eight infants were left during fiscal 2011 at the ''baby hatch'' facility for unwanted newborns set up at the hospital, the lowest number since it opened in May 2007, the Kumamoto city office said the same day.

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Toyota expects 1 tril. yen in FY 2012 group operating profit

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda briefs reporters on the automaker's earnings for fiscal 2012 in Tokyo on May 9, 2012. The company said it expects its group operating profit to surge to 1 trillion yen for the fiscal year.

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Toyota initiation ceremony

NAGOYA, Japan - Toyota Motor Corp. holds an initiation ceremony for its newly hired employees at its head office in Toyota, Aichi Prefecture, on April 2, 2012. An estimated 800,000 people newly joined companies and government offices across Japan the same day, the first weekday of the country's new fiscal year.

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Initiation ceremony in tsunami-hit area

OTSUCHI, Japan - A newly hired employee of the Otsuchi town office in Iwate Prefecture receives a letter of appointment during an initiation ceremony at a temporary town office building in the tsunami-hit town on April 2, 2012. An estimated 800,000 people newly joined companies and government offices across Japan the same day, the first weekday of the country's new fiscal year.

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Environment Ministry initiation ceremony

TOKYO, Japan - A newly hired employee of the Environment Ministry gives a speech during the ministry's initiation ceremony in Tokyo on April 2, 2012. An estimated 800,000 people newly joined companies and government offices across Japan the same day, the first weekday of the country's new fiscal year.