
Mitsui & Co., Mitsui O.S.K. to buy UK offshore wind maintenance port
KENTO HIRASHIMA
TOKYO -- Japan's Mitsui & Co. and Mitsui O.S.K. Lines will acquire the Port of Nigg and related U.K. businesses that serve offshore energy companies, in a bid to bolster the Japanese groups' wind power supply chain in Asia.
The port in northern Scotland is operated by U.K.-based Global Energy Group (GEG).

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Japan Today
2 hours ago
- Japan Today
Nippon Steel to fall in red due to special loss over U.S. Steel deal
Nippon Steel Corp said it expects to end the fiscal year through March in the red by about 40 billion yen ($265 million), due to a one-off share transfer loss linked to the acquisition of United States Steel Corp. The company's latest outlook, a sharp reversal from its earlier forecast of a 200 billion yen net profit, includes a special loss of 240 billion yen from the sale of all its shares in an Alabama-based joint venture with global steel supplier ArcelorMittal SA. The earlier planned transaction was executed after the U.S. Steel purchase was finalized to address antitrust concerns. For the April-June quarter, it said revenues fell by 8.3 percent to 2.01 trillion yen, while it booked an operating loss of 139.56 billion yen and a net loss of 195.83 billion yen. Nippon Steel said in June it completed the $14.1 billion buyout of U.S. Steel after securing a national-security agreement with the administration of U.S. President Donald Trump, putting an end to a year-and-a half struggle to advance the deal with the iconic American company. The Japanese producer expects a full-year loss despite incorporating earnings of U.S. Steel for the nine months from July, expecting a lift by 80 billion yen. But "uncertainties persist" regarding the impact of Trump's higher tariffs on steel, auto and other products, Nippon Steel Executive Vice President Takahiro Mori said at a press conference on Friday. © KYODO


Nikkei Asia
5 hours ago
- Nikkei Asia
With AI use growing, Big Tech turns to nuclear power
Energy Japanese companies see opportunity as US looks to build more plants A data center owned by Amazon Web Services, front right, is under construction next to the Susquehanna nuclear power plant in Berwick, in the U.S. state of Pennsylvania, in January 2024. © AP YUJI OHIRA and KOSUKE SHIMIZU HOUSTON, Texas/PALO ALTO, California -- American technology giants are moving to procure more electricity from nuclear plants as demand for power-hungry artificial intelligence grows sharply.

Nikkei Asia
16 hours ago
- Nikkei Asia
Marcos in India, Hiroshima anniversary, Joshua Wong trial
Welcome to Your Week in Asia. In the wake of the conflict between Thailand and Cambodia over their disputed border, the two sides on Monday will work to resolve their differences at a special committee meeting. From the same day, Philippine President Ferdinand Marcos Jr. will be in India following an invitation from Prime Minister Narendra Modi, with business engagements and meetings with the country's growing Filipino community on the agenda. Get the best of our coverage of Asia and much more by following us on X, where our handle is @NikkeiAsia. We are also now on Bluesky, with the handle @ MONDAY Thailand-Cambodia border committee meeting Thailand and Cambodia will hold a General Border Committee meeting in Malaysia to discuss the ongoing border dispute. The meeting, which will last until Thursday, is a follow-up to the cease-fire agreement reached last week between the two countries. The venue was changed from Phnom Penh at Thailand's request. Representatives from Malaysia, the U.S. and China will also attend as observers on the final day of the meeting. Marcos visits India Philippine President Ferdinand Marcos Jr. heads to India for his first state visit to the country in a bid to deepen diplomatic and economic ties. The five-day trip through Friday comes at the invitation of Indian Prime Minister Narendra Modi. Marcos' visit follows the first joint maritime exercises between the two countries, which kicked off on Sunday, in waters near the South China Sea, a maritime flashpoint in the region with China. Ong Beng Seng hearing Property tycoon Ong Beng Seng is expected to plead guilty for his role in providing kickbacks to former Singapore transport minister S. Iswaran, who was given a year's jail term over the corruption case. He finished serving the sentence in June. Earnings: Mitsubishi Corp., Rohm, JFE TUESDAY Japanese automaker earnings Mazda Motor will release its April-June earnings on Tuesday, followed by Honda on Wednesday and Toyota on Thursday. Investors will be assessing how automakers are coping with the 25% U.S. automotive tariff introduced in April. Earnings: SoftBank Corp. Data: Singapore retail sales WEDNESDAY Hiroshima atomic bombing anniversary Japan will mark 80 years since the atomic bombing of Hiroshima amid worries over nuclear war following U.S.-Israeli military strikes on Iran in June and Russian aggression against Ukraine since 2022. Last year, a group of atomic bombing survivors won the Nobel Peace Prize for their persistent campaign against nuclear weapons. Philippine Senate on Sara Duterte impeachment case Philippine senators are set to convene to decide whether to proceed with the impeachment trial of Vice President Sara Duterte, a week after the country's top court dismissed a previous impeachment attempt. The political maneuvering highlights the volatile nature of domestic politics as the Marcos and Duterte families remain locked in a feud. RBI monetary policy meeting The Reserve Bank of India is widely expected to hold its key policy rate after the conclusion of a monetary policy committee meeting, pausing a dovish cycle that saw a 100 basis point reduction over the past few months. Though the focus remains on spurring growth, the central bank shifted back to a "neutral" stance in June from the more dovish "accommodative" position it had taken two months prior, indicating that it would be cautious and closely parse incoming data before the next shift in interest rates. Data: Vietnam inflation, trade and industrial output Earnings: Cathay Pacific THURSDAY Data: Philippines gross domestic product Earnings: DBS, UOB, Sony FRIDAY China robot show Beijing's flagship robot conference is due to feature 1,500 exhibits from about 200 companies. On the list are 50 makers of humanoid robots -- a key area of focus for China as it strives to develop high-tech industries. Joshua Wong trial Prominent Hong Kong democracy activist Joshua Wong once again faces trial, after he was charged in June for allegedly conspiring to collude with foreign forces. Wong, who was already sentenced last November to four years and eight months in prison for conspiracy to subvert state power, could see his prison time increase by anywhere from three years to a life sentence as a result of the new national security charge. Earnings: SGX Group, Tata Motors, State Bank of India, Eneos, Inpex, Idemitsu Kosan