Japan’s GDP Falls by Record 27.8% in Q2
Japan’s economy entered a recession even before the coronavirus pandemic and could be facing a long road to recovery.
Japan to Declare Emergency, Approves $1T Stimulus Package
The stimulus aims to limit job losses and bankruptcies and initiates a post-pandemic, V-shaped economic recovery.
Global Manufacturing Dives Amid Virus Lockdowns
Even export powerhouses Germany and Japan saw steep decreases in factory output last month as the coronavirus upended supply chains and crushed demand.
Japan’s Cabinet Approves $122B Stimulus Package
The country has struggled with a slump of exports, a sales tax hike in October, and natural disasters.
Mitsubishi Says Top Exec Knew of Data-Rigging
The Japanese firm reports that the former head of its cable-making subsidiary was made aware in February of guidelines for falsifying quality data.
Quality-Control Scandal Engulfs Kobe Steel
The steelmaker has admitted data falsification involving aluminum, copper and iron ore products, further tarnishing Japan's manufacturing reputation.
Sunoco to Sell Convenience Stores to 7-Eleven
The $3.3 billion deal is "the beginning of an exciting evolution for Sunoco into a premier nationwide fuel supplier," the company's CEO says.
Sompo to Buy Endurance Specialty for $6.3B
The Japanese insurer is paying a 43% premium for Endurance as it seeks to generate 25% of its profits from overseas operations by 2020.
Follow the Money
CFOs from different regions of the world have different plans for their excess cash.
Gap Worn Down By Declining Sales
The Gap announced it was closing 75 stores, including Old Navy Japan, as sales continue to plunge and profits dwindle.