Thu, Jul. 28, 4:45 AM
Sat, Jul. 23, 1:18 PM
- The Japanese government and the European Commission are working together to connect their global positioning systems in a coordinated effort to clear a path for autonomous vehicles.
- By linking Japan's Quasi-Zenith Satellite System and EU's Galileo satellite network the margin of error of the combined system will be improved dramatically.
- The development could be positive for Japanese automakers (OTCPK:NSANY, TM, HMC, OTCPK:MZDAY, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:MMTOF) and suppliers such as Mitsubishi Electric (OTC:MIELF, OTCPK:MIELY), Hitachi (OTCPK:HTHIF) and NTT Data (OTC:NTTDF).
Wed, Mar. 23, 8:53 AM
- Mitsubishi Electric Corp. ADR (OTCPK:MIELY) plans to pay a year-end dividend of ¥18/share, bringing total dividend to ¥27/share in FY16.
- The actual dividend will be declared at the Board meeting when financial results for fiscal 2016 are to be approved.
Sep. 2, 2014, 3:03 AM
- The European trade body in China has dismissed reports stating Beijing was planning to require foreign auto parts suppliers in the country to form local joint ventures.
- The rumors surfaced as Chinese regulators cracked down on the country's auto industry, seeking to enforce a 2008 antitrust law.
- Last month, China issued $201M in fines against 12 Japanese companies for manipulating prices, while many foreign automakers have lowered their spare parts prices to appease local regulators.
- Related Stocks: OTCQX:VLKAY, OTCPK:FIATY, OTCPK:DDAIY, TTM, TM, HMC, OTCPK:NSANY, OTCPK:HTHIY, OTCPK:SSUMY, OTCPK:MIELY, OTCPK:JTEKY, OTCPK:DNZOY
Aug. 20, 2014, 3:10 AM
- China's anti-monopoly regulator has issued fines against 12 Japanese companies for colluding over prices of auto parts and bearings.
- The penalties total 1.2B yuan ($201.8M) and fine companies including Hitachi (OTCPK:HTHIY), Sumitomo (OTCPK:SSUMY), Mitsubishi Electric (OTCPK:MIELY), Jtekt (OTCPK:JTEKY) and Denso (OTCPK:DNZOY).
- China has been increasing its efforts to bring companies into compliance with an anti-monopoly law enacted in 2008, and has recently taken aim at the country's auto sector.
Jul. 3, 2014, 9:25 AM
- Mitsubishi Electric (MIELY), a missile supplier to Japan's Self Defense Forces, has agreed to partner with European missile consortium MBDA (comprised of Airbus (EADSY), BAE Systems (BAESF) and Finmeccanica (FINMF)), to develop an air-to-air missile for the F-35 fighter jet.
- Looking to bring down its costs of defense manufacturing, Japan is now looking into selling to the global arms market.
- If the partnership finalizes, it will mark the first time Japanese-made defense components will be used on missiles sold abroad, after the country lifted its four decade-old ban on military exports.
Apr. 10, 2013, 8:32 PMJapan's Nikkei opened to another multiyear high, quickly rising 1.2% to 13,452 as the dollar continued to move up against the yen. The broader Topix is also outperforming with a 1.6% rise. Exporters and financials lead: Hitachi Ltd. JP:6501 +2.81% (HTHIY.PK +3.4%), Mitsubishi Electric (MIELY.PK +3%), Panasonic (PC +3%), Daiwa Securities (DSEEY.PK +6%), Nomura (NMR +6.3%) and Dai-ichi Life Insurance (DCNSF.PK +4.4%). | Apr. 10, 2013, 8:32 PM
Sep. 23, 2012, 4:20 AM
Japanese state-backed investment fund Innovation Network is in talks with major manufacturers - reportedly including Toyota (TM) and Panasonic (PC) - about acquiring struggling chipmaker Renesas, which is the subject of a bid of over ¥100B ($1.3B) from KKR. The Japanese government fears that KKR would "cut off the less-profitable operations" that are important for Japanese end users.| Sep. 23, 2012, 4:20 AM | 1 Comment
Aug. 29, 2012, 2:39 AM
KKR (KKR) is reportedly in negotiations to invest about ¥100B ($1.3B) in Renesas (RNECY.PK) in a deal that would give the U.S. P-E firm a controlling stake in the unprofitable Japanese chipmaker, which is owned by NEC, Hitachi and Mitsubishi Electric. The speculation sent Renesas' shares surging 35% in Tokyo.| Aug. 29, 2012, 2:39 AM