Nov. 5, 2015, 3:13 AM
- Takata (OTCPK:TKTDY) shares fell by a quarter on Thursday as Mitsubishi Motors (OTCPK:MSBHY) and Mazda (OTCPK:MZDAY) became the next automakers to question the safety of its air bag inflators, casting further doubts on the future of the company.
- The decisions to consider switching away from the component came a day after Honda (Takata's biggest customer) said it would no longer use the inflators.
- Air bag parts contributed 38% of Takata's total sales last year. The company reports its first-half results on Friday.
Sep. 30, 2015, 3:52 AM
- Rio Tinto (NYSE:RIO) has agreed to sell its 40% stake in the the Bengalla coal mine in eastern Australia to New Hope (OTCPK:NHPEF) for $606M in a deal that could signal Rio's eventual exit from coal.
- Rio has also taken full control of its Coal & Allied subsidiary, which manages mines in the Hunter Valley region of Australia's New South Wales state, from Japan's Mitsubishi (OTCPK:MSBHF). The latter will swap its 20% holding in Coal & Allied for a 32.4% stake in the Hunter Valley operations.
- The transactions come amid soft demand for coal, oversupply and low prices. (PR)
- Rio's shares are +1.9% in London.
Aug. 28, 2015, 7:47 AM
- Mitsubishi (OTCPK:MSBHY) is buying a 20% stake in Olam International (OTCPK:OLMIY), valuing the agri-trader at about $5.5B.
- Olam said it will issue 332.7M new shares to Mitsubishi at S$2.75 per share, amounting to about 12% of its total capital.
- The Japanese company will also buy about 222M secondary shares from the founding Chanrai family, representing about 8% of Olam.
Aug. 27, 2015, 1:36 PM
Aug. 18, 2015, 2:23 AM
- The two explosions in the Chinese port of Tianjin last week could generate total insurance losses of $1B-$1.5B, Credit Suisse analysts said, citing initial estimates based on media reports.
- Over 8,000 vehicles worth about $625M were destroyed in the blasts, including cars made by Volkswagen (OTCQX:VLKAY), Toyota (NYSE:TM), Renault (OTCPK:RNLSY), Hyundai (OTC:HYMLF) and Mitsubishi (OTCPK:MSBHY), while damage is still being assessed in other sectors.
- Zurich Insurance (OTCQX:ZURVY), Allianz (OTCQX:AZSEY) and other groups say they have already received insurance claims but could not provide an estimate of potential losses.
Sep. 22, 2014, 6:42 AM
- In yet another move expanding its foods business, Mitsubishi (OTCPK:MSBHY) has offered to buy Norwegian fishery Cermaq (OTC:CRMQY) for 8.9B kroner ($1.4B). The offer is 14% more than Cermaq’s closing price on Sept. 19.
- Norway's Ministry of Trade, Industry and Fisheries, Cermaq’s biggest shareholder (with a 59.2% stake) says it’s prepared to sell its shares to Mitsubishi, although it could switch to another buyer if presented with a more attractive offer.
Aug. 21, 2014, 7:13 AM
- Petrovietnam has entered talks with banks to secure financing for a seven-year loan of up to $1.8B for its bid to buy a stake in Murphy Oil's (NYSE:MUR) Malaysian oil and gas assets.
- The $1.8B offer tops a $1.5B bid previously made by India's Oil & Natural Gas and Oil India. Mitsubishi (OTCPK:MSBHY) is also bidding on the assets.
Aug. 7, 2014, 2:02 AM
- Japanese partners in the Cameron LNG terminal say the project has secured its last investment approval by obtaining $7.4B in financing.
- The move brings Japan a step closer to importing significant amounts of LNG from the U.S.'s abundant supply of shale gas.
- The Cameron project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY), Mitsui & Co. (OTCPK:MITSY), and a joint venture between Mitsubishi Corp. (OTCPK:MSBHY) and Nippon Yusen KK (OTCPK:NPNYY).
Jul. 24, 2014, 6:42 AM
- Thirty banks are ready to sign a $7.5B loan next month for the U.S. Cameron LNG project that could offer Japan an alternative fuel source.
- Japan has been running record trade deficits after the nuclear industry shutdown forced it to boost energy imports following the 2011 Fukushima disaster.
- The $10B Cameron project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY), Mitsui & Co. (OTCPK:MITSY), and a joint venture between Mitsubishi Corp. (OTCPK:MSBHY) and Nippon Yusen KK (OTCPK:NPNYY).
May 1, 2012, 3:47 AM
Aussie oil producer Woodside Petroleum (WOPEY.PK) plans to sell a stake in its giant Browse natural gas project to Mitsui and Mitsubishi for $2B. The two Japanese firms will also work with Woodside to market LNG to the Asian market and to help Woodside raise money to finance the project. (PR)| May 1, 2012, 3:47 AM
Apr. 12, 2012, 2:27 AMShell (RDS.A), Mitsubishi Corp., China National Petroleum and Korea Gas Corp are in the final stages of talks to build a $12.35B liquefied natural gas terminal on Canada's west coast, according to a report in business daily Nikkei. A broad agreement is expected as soon as this month. | Apr. 12, 2012, 2:27 AM | 3 Comments
Dec. 28, 2011, 10:36 AM
Frustrated by financing delays, Western Australia invites China to take part in a $6B port and rail project to open up a new inland iron-ore province. This one project alone will increase worldwide iron-ore exports by 10% over current levels. Previously, Mitsubishi Corp. (MSBHY.PK) had exclusive development rights.| Dec. 28, 2011, 10:36 AM
Nov. 15, 2011, 9:23 AMIraq's cabinet OKs a $17B 25-year deal with Shell (RDS.A) and Mitsubishi (MSBHY.PK) to capture and make use of over 700M cubic feet per day of gas that is being flared off into the atmosphere. The contract is one of the largest that Iraq has signed as it rebuilds its oil and gas industry. | Nov. 15, 2011, 9:23 AM
Nov. 10, 2011, 2:14 PM
Chilean state copper producer Codelco says it has an option for 49% of Anglo American's (AAUKY.PK) Sur mining property, not just over the portion Anglo still holds after selling a 24.5% stake to Mitsubishi (MSBHY.PK), and will take legal measures to defend it. "We're not interested in how the other 51% is held... but Anglo can't sell our 49% to anyone," Codelco's Gerardo Jofre says.| Nov. 10, 2011, 2:14 PM
Nov. 10, 2011, 4:30 AM
Mitsubishi (MSBHY.PK) pays $5.39B for a 24.5% stake in Anglo American's (AAUKY.PK) Chilean copper unit. The deal is Japan's largest ever mining acquisition and will almost double Mitsubishi's copper output at time when global demand is expected to increase over 40% by 2020. (PR)| Nov. 10, 2011, 4:30 AM
Sep. 2, 2011, 12:44 PM