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Japan's MUFG Bank head Hanzawa

MUFG Bank President Junichi Hanzawa (L) bows at a press conference in Tokyo on Dec. 16, 2024. He apologized over the alleged theft of more than 1 billion yen ($6.5 million) by a former employee from customers' safe deposit boxes at the Japanese megabank.

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Japan's MUFG Bank head Hanzawa

MUFG Bank President Junichi Hanzawa (C) speaks at a press conference in Tokyo on Dec. 16, 2024. He apologized over the alleged theft of more than 1 billion yen ($6.5 million) by a former employee from customers' safe deposit boxes at the Japanese megabank.

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Japan's MUFG Bank head Hanzawa

MUFG Bank President Junichi Hanzawa (C) bows at a press conference in Tokyo on Dec. 16, 2024. He apologized over the alleged theft of more than 1 billion yen ($6.5 million) by a former employee from customers' safe deposit boxes at the Japanese megabank.

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Japan's MUFG Bank head Hanzawa

MUFG Bank President Junichi Hanzawa speaks at a press conference in Tokyo on Dec. 16, 2024. He apologized over the alleged theft of more than 1 billion yen ($6.5 million) by a former employee from customers' safe deposit boxes at the Japanese megabank.

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US: Airport Fire Expands In Southern California, Destroys Homes 3

Airport Fire burning in Orange and Riverside Counties, Southern California has grown to more than 23,000 acres as of Wednesday morning, September 11. The fire injured at least seven people and destroyed homes.

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Toyota posts record high operating profit for April-June

TOKYO, Japan - Toyota Motor Corp. Managing Officer Takuo Sasaki briefs the press Aug. 5, 2014, on the automaker's financial results for the April-June quarter. Toyota group operating profit grew 4.4 percent from a year earlier to an all-time high of 692.73 billion yen for the quarter as brisk sales in North America more than offset a lackluster performance in Japan, where a sales tax hike April 1 triggered a sales decline.

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MRI International

TOKYO, Japan - Photo shows the building housing MRI International Inc.'s Japan office in Tokyo on April 26, 2013. The U.S. asset management firm is suspected of mishandling funds invested by thousands of Japanese clients, resulting in losses totaling more than 130 billion yen, sources familiar with the matter said April 26. The Securities and Exchange Surveillance Commission raided the Tokyo office of the Nevada-based company and other related locations that afternoon.

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'Kumamon,' popular mascot for Kumamoto

TOKYO, Japan - Photo shows ''Kumamon,'' the official black bear mascot for the southwestern Japanese prefecture of Kumamoto, when it visited the Kyodo News headquarters in Tokyo on Jan. 25, 2013. Sales of products featuring Kumamon swelled to at least 29.36 billion yen in 2012, about 11 times more than those of the previous year, local officials said Feb. 20, 2013.

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'Kumamon,' popular mascot for Kumamoto

KUMAMOTO, Japan - Photo taken Feb. 20, 2013, shows various merchandise featuring ''Kumamon,'' the official black bear mascot for the southwestern Japanese prefecture of Kumamoto, on display at the prefectural government offices. Sales of products featuring Kumamon swelled to at least 29.36 billion yen in 2012, about 11 times more than those of the previous year, local officials said the same day.

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'Kumamon,' popular mascot for Kumamoto

KUMAMOTO, Japan - Photo shows ''Kumamon,'' the official black bear mascot for the southwestern Japanese prefecture of Kumamoto. Sales of products featuring Kumamon swelled to at least 29.36 billion yen in 2012, about 11 times more than those of the previous year, local officials said Feb. 20, 2013.

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'Kumamon,' popular mascot for Kumamoto

TOKYO, Japan - Photo shows ''Kumamon,'' the official black bear mascot for the southwestern Japanese prefecture of Kumamoto, when it visited the Kyodo News headquarters in Tokyo on Jan. 25, 2013. Sales of products featuring Kumamon swelled to at least 29.36 billion yen in 2012, about 11 times more than those of the previous year, local officials said Feb. 20, 2013.

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'Kumamon,' popular mascot for Kumamoto

TOKYO, Japan - Photo shows ''Kumamon,'' the official black bear mascot for the southwestern Japanese prefecture of Kumamoto, when it visited the Kyodo News headquarters in Tokyo on Jan. 25, 2013. Sales of products featuring Kumamon swelled to at least 29.36 billion yen in 2012, about 11 times more than those of the previous year, local officials said Feb. 20, 2013.

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Sony-Olympus tie-up

TOKYO, Japan - Sony Corp. Kazuo Hirai (L) and Olympus Corp. President Hiroyuki Sasa hold a press conference in Tokyo on Oct. 1, 2012, on their new tie-up. Hirai said his company aims to achieve sales of more than 200 billion yen from the medical business through the new tie-up.

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Sony-Olympus tie-up

TOKYO, Japan - Sony Corp. Kazuo Hirai (L) and Olympus Corp. President Hiroyuki Sasa shake hands in a press conference in Tokyo on Oct. 1, 2012, on their new tie-up. Hirai said his company aims to achieve sales of more than 200 billion yen from the medical business through the new tie-up.

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Toyota Tsusho to acquire French trading house CFAO

NAGOYA, Japan - Jun Karube, president of Toyota Tsusho Corp., speaks at a press conference in Nagoya on July 26, 2012. Toyota Tsusho, a trading house in the Toyota Motor group, said the same day it will seek to acquire a controlling stake in CFAO SA, a French trading house dealing in automobiles and medicines in African countries, by investing more than 100 billion yen.

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AIJ, ITM chiefs arrested over pension fund fraud

TOKYO, Japan - A police investigator brings in cardboard boxes for a search operation at the building housing the head offices of AIJ Investment Advisors Co. and ITM Securities Co., which is effectively under AIJ's control, in Tokyo's Chuo Ward on June 19, 2012. AIJ President Kazuhiko Asakawa and others, including ITM president, were arrested the same day in connection with a high-profile fraud allegation over losses of more than 100 billion yen in pension assets entrusted to AIJ, police said.

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IBM hit by Japan's largest corporate tax allegation

TOKYO, Japan - Photo shows the headquarters of IBM Japan Ltd. in the Nihombashi district in Tokyo's Chuo Ward on March 18, 2010. The IBM Japan group is suspected of failing to declare more than 400 billion yen in income, an amount believed to be the largest ever in the country.

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Hatoyama warned of doubling public money misuse

TOKYO, Japan - Japanese Prime Minister Yukio Hatoyama (R) receives a report on misuse of public money in fiscal 2008 from Board of Audit Commissioner Masaki Nishimura at the premier's office Nov. 11, 2009. The board found a record 236.45 billion yen, almost double the previous year, in improper spending of taxpayers' money in a more thorough inspection than the past.

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Moneylender SFCG goes under with over 300 bil. yen in debts

TOKYO, Japan - SFCG Co. chairman Kenshin Oshima bows at a press conference at the Tokyo Stock Exchange on Feb. 23 in which he announced the Tokyo-based moneylender, formerly known as Shohkoh Fund Co., filed for bankruptcy protection with the Tokyo District Court after accumulating debts of more than 300 billion yen.

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Panasonic may mark over 300 bil. yen in FY 2008 group net loss

OSAKA, Japan - Photo taken on Jan. 28, 2009, shows the headquarters of Panasonic Corp. in Osaka. Panasonic is expected to report more than 300 billion yen in consolidated net loss in the business year through March due chiefly to additional outlays needed to streamline its manufacturing operations and valuation losses on its stock holdings, sources familiar with the matter said Feb. 1.

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Police raid ex-Katokichi exec over suspicion of document forgery

TAKAMATSU, Japan - Police agents carry away boxes of evidence from the home of a former executive of major frozen food company Katokichi Co. in Mitoyo, Kagawa Prefecture on Nov. 12, after a search on suspicion that the former executive used falsified seals in documents of transactions between a Katokichi subsidiary and an Osaka-based trading house. Katokichi has allegedly been involved in so-called circular trading totaling more than 100 billion yen on fake invoices.

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Police raid ex-Katokichi exec over suspicion of document forgery

TAKAMATSU, Japan - Police agents enter the home of a former executive of major frozen food company Katokichi Co. in Mitoyo, Kagawa Prefecture, on suspicion of using falsified seals in documents of transactions between Katokichi Suisan Co., a Katokichi subsidiary, and the Osaka-based trading house T.Chatani & Co. Katokichi has allegedly been involved in so-called circular trading totaling more than 100 billion yen on fake invoices.

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Japan Post profit dives 51% on halving of savings division's gains

TOKYO, Japan - Japan Post President Yoshifumi Nichikawa speaks at a press conference in Tokyo on May 23. He said that the company's net profit in fiscal 2006 plunged 51.0 percent from the year before to 947.7 billion yen as net profit from its postal savings section, its biggest division, more than halved to 941.6 billion yen.

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High court rejects state appeal, raises damages over base noise

TOKYO, Japan - Plaintiffs and their supporters applaud after the Tokyo High Court ordered the state to pay more than 4 billion yen in damages over aircraft noise to residents around Atsugi base in Kanagawa Prefecture which is jointly used by the U.S. Navy and Japan's Maritime Self-Defense Force.

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi (3rd from right) speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year to March 31, 2006.

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year, which saw Mitsubishi Tokyo Financial Group Inc. merged with UFJ Holdings Inc.

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Livedoor aims to take majority stake in mail-order firm Cecile

TOKYO, Japan - Takafumi Horie, president of Internet services firm Livedoor Co., speaks in reply to question at a press conference in Tokyo on Oct. 21. He said Livedoor is seeking to take control of Cecile Co. as a Livedoor subsidiary will obtain a majority stake in the mail-order company for more than 20 billion yen.

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(2)Ex-meat packer chairman gets 7 years in prison on beef fraud

OSAKA, Japan - Prosecutors walk into the Osaka District Court on May 27 to attend the trial of Mitsuru Asada, former chairman of meat packer Hannan Corp., who was indicted for swindling the government out of more than 5 billion yen by abusing a state beef buyback program established to calm concerns over mad cow disease. The court sentenced Asada to seven years in prison.

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Toyota launches pickup plant in Thailand

TOKYO, Japan - Toyota Motor Corp. said on Aug. 25 it has begun producing and selling a new pickup truck in Thailand, the first step in the automaker's plan to build a global supply network. The new pickup, the Hilux VIGO (photo), is the first of five newly developed models to be produced in four countries -- Thailand, Indonesia, South Africa and Argentina -- in an investment worth about 150 billion yen. The five models -- three pickup trucks, a minivan and a sport-utility vehicle -- will be sold in more than 140 countries outside Japan and North America.

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Ichiro agrees to $44 mil., 4-year deal with Mariners

SEATTLE, United States - Seattle Mariners leadoff hitter Ichiro Suzuki signed to stay with the club Dec. 18 after agreeing to a $44 million (about 4.75 billion yen), four-year contract, sources familiar with the deal said. The deal made the Mariners outfielder the first major leaguer from Japan to receive an annual average of more than $10 million (about 1.08 billion yen).

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Ripplewood to invest 3.5 bil. yen to improve Seagaia resort

MIYAZAKI, Japan - Michael Glennie, president of Ripplewood Lodging, speaks at a press conference in Miyazaki on Dec. 8 about a plan to invest more than 3.5 billion yen to renovate existing facilities at the Phoenix Seagaia Resort complex in Miyazaki.

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Resona Holdings incurs 1st-half group net loss

TOKYO, Japan - Resona Holdings Inc. Chairman Eiji Hosoya speaks at a news conference in Tokyo on Nov. 25. Resona racked up a group net loss of 1,769.64 billion yen in the first half of fiscal 2003 as it incurred more than 1.30 trillion yen in loan-loss charges.

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Hanshin makes move on Nakamura, offers 6-year deal

OSAKA, Japan - Katsuyoshi Nozaki (L), president of the Central League baseball club Hanshin Tigers, and its manager Senichi Hoshino (2nd from L) meet with Norihiro Nakamura (R), at a hotel in Osaka on Nov. 21 in a bid to lure the free agent slugger into signing a lucrative multiyear deal. Hanshin apparently offered Nakamura a six-year deal worth more than 3 billion yen.

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(2)Tokyo health food firm raided over suspected scam case

NAGOYA, Japan - Police officers walk into the headquarters of health food company Albien in Tokyo on May 14 for investigation over an alleged investment scam in which the firm illegally collected more than 7 billion yen from about 3,000 people.

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(1)Tokyo health food firm raided over suspected scam case

NAGOYA, Japan - File photo shows Masanori Eguchi, chairman of Tokyo-based health food company Albien, which police raided May 14 over an alleged investment scam in which the firm illegally collected more than 7 billion yen from about 3,000 people.

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Daiei's 3 main banks to provide 520 bil. yen in support

TOKYO, Japan - Kunio Takagi, president of struggling supermarket operator Daiei Inc., talks with journalists after announcing a fresh three-year restructuring program featuring 520 billion yen in financial support from its three main creditor banks, or 100 billion yen more than under an earlier bailout plan.

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Lower house OK's extra budget for jobs

TOKYO, Japan - The House of Representatives approves a 519.8 billion yen supplementary budget for fiscal 1999 to finance a package of measures to create more than 700,000 new jobs.

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Miyazawa pushes for job-creation extra budget

TOKYO, Japan - Finance Minister Kiichi Miyazawa makes a policy speech at the House of Representatives on July 12, urging the Diet to swiftly enact a 519.8 billion yen extra budget aimed at financing the creation of more than 700,000 new jobs and combating record unemployment. Behind Miyazazwa is Prime Minister Keizo Obuchi.

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Mita Industrial searched over illegal dividends

Prosecutors and police search the offices of failed photocopier maker Mita Industrial Co. on Oct. 13 on suspicion it paid dividends to shareholders while in the red. Some former executives of the Osaka-based, unlisted company violated the Commercial Code by paying dividends after window-dressing the firm's earnings reports, investigative sources claimed. The company applied Aug. 10 for rescue under the Corporate Rehabilitation Law, effectively going under with debts of more than 200 billion yen.

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Shionogi's new mid-term management plan briefing

On the 1st, Shionogi announced a new mid-term management plan to invest 500 billion yen in expanding overseas business and launching new businesses by FY2024. The company will also increase research and development expenses by 20% over the past five years to about 342.1 billion yen. In addition to strengthening its own sales of pharmaceuticals in Japan and overseas, the company will also invest heavily in products and services other than ethical drugs, such as vaccines.In terms of sales strategy, the company plans to strengthen its sales in the U.S. and China, and increase the ratio of overseas sales to more than 50% in FY2012 (18.5% in FY2007). President Tedairogi said, "We aim to become a drug discovery company that people from outside the company want to work with," and also indicated that the company will place importance on alliance strategies. (Photo taken on June 1, 2020, location unknown, credit: Nikkan Kogyo Shimbun / Kyodo News Images)

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Forest Sea's long-range wireless terminal "Geochat".

Forest Sea (Koto-ku, Tokyo) will launch a long-range wireless terminal called "Geochat" this fall to prevent mountain climbers and forestry workers from getting lost. It is capable of two-way communication of up to 200 kilometers in a clear environment with no obstacles. Even when cell phones are out of range, such as in mountainous areas, workers can carry the terminal to send location information and emergency requests. The company is aiming for sales of more than 5 billion yen in the communication terminal business in five years. 920 megahertz (mega means one million) band radio waves with an output of 250 milliwatts will be transmitted over a long distance. It can reach more than 200 kilometers in a clear environment. Three repeaters were able to cover the mountainous area of Hakone, sending text of about 30 characters and location information from the Global Positioning System (GPS). Photo taken on July 18, 2019, credit: Nikkan Kogyo Shimbun / Kyodo News Images

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Toyota launches pickup plant in Thailand

TOKYO, Japan - Toyota Motor Corp. said on Aug. 25 it has begun producing and selling a new pickup truck in Thailand, the first step in the automaker's plan to build a global supply network. The new pickup, the Hilux VIGO (photo), is the first of five newly developed models to be produced in four countries -- Thailand, Indonesia, South Africa and Argentina -- in an investment worth about 150 billion yen. The five models -- three pickup trucks, a minivan and a sport-utility vehicle -- will be sold in more than 140 countries outside Japan and North America. (Kyodo)

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(1)Ex-meat packer chairman gets 7 years in prison on beef fraud

OSAKA, Japan - Mitsuru Asada (file photo), former chairman of meat packer Hannan Corp., was sentenced to seven years in prison by the Osaka District Court on May 27 for swindling the government out of more than 5 billion yen by abusing a state beef buyback program established to calm concerns over mad cow disease. (yodo)

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(2)Ex-meat packer chairman gets 7 years in prison on beef fraud

OSAKA, Japan - Prosecutors walk into the Osaka District Court on May 27 to attend the trial of Mitsuru Asada, former chairman of meat packer Hannan Corp., who was indicted for swindling the government out of more than 5 billion yen by abusing a state beef buyback program established to calm concerns over mad cow disease. The court sentenced Asada to seven years in prison. (Kyodo)

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Livedoor aims to take majority stake in mail-order firm Cecile

TOKYO, Japan - Takafumi Horie, president of Internet services firm Livedoor Co., speaks in reply to question at a press conference in Tokyo on Oct. 21. He said Livedoor is seeking to take control of Cecile Co. as a Livedoor subsidiary will obtain a majority stake in the mail-order company for more than 20 billion yen. (Kyodo)

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year, which saw Mitsubishi Tokyo Financial Group Inc. merged with UFJ Holdings Inc. (Kyodo)

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi (3rd from right) speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year to March 31, 2006. (Kyodo)

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Japan Post profit dives 51% on halving of savings division's gai

TOKYO, Japan - Japan Post President Yoshifumi Nichikawa speaks at a press conference in Tokyo on May 23. He said that the company's net profit in fiscal 2006 plunged 51.0 percent from the year before to 947.7 billion yen as net profit from its postal savings section, its biggest division, more than halved to 941.6 billion yen. (Kyodo)

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Panasonic may mark over 300 bil. yen in FY 2008 group net loss

OSAKA, Japan - Photo taken on Jan. 28, 2009, shows the headquarters of Panasonic Corp. in Osaka. Panasonic is expected to report more than 300 billion yen in consolidated net loss in the business year through March due chiefly to additional outlays needed to streamline its manufacturing operations and valuation losses on its stock holdings, sources familiar with the matter said Feb. 1. (Kyodo)

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Moneylender SFCG goes under with over 300 bil. yen in debts

TOKYO, Japan - SFCG Co. chairman Kenshin Oshima bows at a press conference at the Tokyo Stock Exchange on Feb. 23 in which he announced the Tokyo-based moneylender, formerly known as Shohkoh Fund Co., filed for bankruptcy protection with the Tokyo District Court after accumulating debts of more than 300 billion yen. (Kyodo)