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The Mainichi
4 days ago
- Automotive
- The Mainichi
Former top execs of struggling Nissan got $4.5 mil severance pay
TOKYO (Kyodo) -- Four former Nissan Motor Co. top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen ($4.5 million) for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co. and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain management. Uchida and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants.
24-05-2025
- Automotive
Honda to Increase Hybrid Vehicle Production in U.S.
News from Japan Economy May 24, 2025 12:43 (JST) Greensburg, Indiana, May 23 (Jiji Press)--Japan's Honda Motor Co. plans to increase production of hybrid vehicles in the United States amid strong demand for hybrid models in contrast to sluggish electric vehicle sales. The automaker will also expand procurement of U.S.-made vehicle parts, including batteries for hybrid vehicles. Honda's assembly plant in Greensburg, Indiana, shown to the media Friday, makes the hybrid and gasoline versions of its popular CR-V SUV and flagship Civic. Its annual production capacity is 250,000 units. "We'll focus on expanding production of hybrid vehicles, for which demand is expected to increase further in North America," plant manager Daisuke Shimizu said. The Indiana plant is aiming to start procuring U.S.-made batteries by year-end. [Copyright The Jiji Press, Ltd.] Jiji Press
NZ Autocar
24-05-2025
- Automotive
- NZ Autocar
Honda achieves a milestone that few will emulate
Japanese motorcycle manufacturer is about to produce bike number 500,000,000. Honda Super Cub Few car makers have managed single models that really sell well, like Corolla and Golf, both around the 50million mark. But Honda eclipsed that with its Super Cub (above), managing over 100 million in its lifetime. And now Honda reports that it is about to build bike number 500 million in India, an Activa scooter. It has taken 76 years, the first Honda motorcycle produced in 1949. And that would be the Honda Dream D type (below). 1949 Dream D Type Since its founding in 1948, Honda has developed and provided products that meet the needs of customers in many countries and regions based on its belief that 'the purpose of technology is to make people's lives easier.' Honda motorcycle and scooter production facilities exist in 23 countries. The firm achieved its 100 million-unit milestone in 1997, its 200 million-unit milestone in 2008, and its 300 million-unit milestone in 2014. In 2018, Honda's annual production exceeded 20 million units for the first time in its history, and cumulative global production reached 40 million units in 2019. Honda's CB750 saw the rise of Japanese bike manufacturers worldwide. After COVID-19, demand has steadily recovered worldwide to pre-pandemic levels. In 2024 Honda had its 'first year of global expansion' for electric powered two-wheelers. Honda's annual production capacity now is more than 20 million units in 23 countries and 37 production entities. There are more than 30,000 Honda dealers worldwide. The next goal for Honda is achieving carbon neutrality, including through electrification. Toshihiro Mibe, Director, President and Representative Executive Officer, Honda Motor Co recently commented on the achievement. 'For Honda, motorcycle business…will continue to be the company's core business. 'We have built the trust of our customers through our many products and services, which has enabled us to achieve a cumulative production volume of 500 million units. 'I would like to thank our customers and all stakeholders who were involved in achieving this milestone, from development to production, sales, and service. 'Honda will continue to take on the challenge of expanding the joy of our customers around the world.' 1948 Honda Motor Co., Ltd. founded 1949 First full-fledged motorcycle model, the Dream D-type, launched 1958 First Super Cub model, the Super Cub C100, launched 1959 Honda becomes world's largest motorcycle manufacturer 1968 Cumulative global production reaches 10 million units 1969 The CB750 goes on sale 1975 The GL1000 Gold Wing goes on sale 1984 Cumulative global production reaches 50 million units 1986 The XRV650 Africa Twin joins the range 1992 The CBR900RR FireBlade goes on sale 1997 Cumulative global production reaches 100 million units 2004 Annual production exceeds 10 million units for the first time 2008 Cumulative global production reaches 200 million units 2014 Cumulative global production reaches 300 million units 2014 The Honda Super Cub becomes the most produced motorcycle in history (87 million units) 2018 Cumulative annual production exceeds 20 million units for the first time 2019 Cumulative global production reaches 400 million units 2022 Honda's electrification journey begins in Europe 2023 Honda introduces its Honda E-Clutch technology 2024 Honda introduces new V3 concept engine with unique electrical compressor 2025 Cumulative global production reaches 500 million units 2025 2025
Yomiuri Shimbun
23-05-2025
- Automotive
- Yomiuri Shimbun
Listed Companies' Financial Results: Overcome Headwinds with Proactive Strategies
Listed companies have been reporting strong financial results. However, this fiscal year, the situation has changed significantly, and they are likely to face headwinds from the negative impact of tariff measures by U.S. President Donald Trump. It is hoped that companies will not fall into a defensive posture, but rather implement proactive strategies to continue to grow, and will achieve high wage increases. Almost all companies listed on the Tokyo Stock Exchange have announced their earnings for the year ending March 31, 2025. The combined net profits of companies that make up the Tokyo Stock Price Index (TOPIX), excluding firms in the financial sector, hit a record high for the fourth consecutive year. In addition to the strong performance of semiconductor-related companies due to increased demand for chips, corporate performance in the automobile industry also remained firm. The total net profits of the manufacturing sector amounted to about ¥22.7 trillion. The railroad sector, which is benefiting from the full-fledged recovery of visitors to Japan, and information technology-related services, which are experiencing strong demand for investment in digital technology, also performed well. Mainly for these reasons, non-manufacturing companies' net profits increased. It can be said that the trend of listed companies achieving high growth and giving it back in the form of higher wages has been making steady progress. The concern is corporate performance for the fiscal year ending March 31, 2026, when the impact of the U.S. government's high tariff policy will be felt fully. Forty percent of the about 1,000 companies forecast a decrease in profits. In particular, the damage to the automobile industry, a key industry in Japan, is expected to be large. Toyota Motor Corp. has estimated that tariffs will be a factor in a ¥180 billion decline in operating profit for the two months of April and May. Honda Motor Co. also forecast an annual decline of ¥650 billion in operating profit due to tariffs. Four out of the seven major automakers have disclosed earnings forecasts. According to them, their total net profits are expected to fall 40% from the previous fiscal year. The automobile industry has led the way in high-level wage increases for three consecutive years until this year's shunto spring wage negotiations. If momentum for higher wages wanes, the transition to a growth-oriented economy, in which wages and investment both increase, could be derailed. With about ¥600 trillion in corporate internal reserves, companies should have the capacity to weather the adverse economic conditions. They need to continue their efforts to keep wage increases flowing. With the outlook becoming increasingly uncertain, many companies have begun to slash their workforces, even though they are in the black. The number of listed companies offering early or voluntary retirement is rapidly increasing. Panasonic Holdings Corp. has announced that it will cut a total of about 10,000 jobs in Japan and overseas. On the other hand, some companies are anticipating growth despite the headwinds. Ajinomoto Co. forecast its highest profit in three years for the fiscal year ending March 31, 2026, on the back of growth in electronic materials for semiconductors, among other factors. It is hoped that companies will look for new growth areas, rather than relying on restructuring. There is a possibility that the protectionist stance of the United States will be prolonged. It also will be important to reduce dependence on the United States and develop new sales channels. (From The Yomiuri Shimbun, May 23, 2025)
The Mainichi
22-05-2025
- Automotive
- The Mainichi
Japan auto body urges swift removal of Trump's additional tariffs
TOKYO (Kyodo) -- The head of Japan's auto industry body urged Thursday the swift removal of U.S. President Donald Trump's additional 25 percent tariffs on cars and their parts, as Tokyo plans another round of ministerial-level tariffs talks with Washington later this week. "We hope for tenacious talks to achieve an early agreement," Masanori Katayama, chairman of the Japan Automobile Manufacturers Association, told a press conference. He added that the association looks forward to "productive dialogue" to continue between Japan and the United States and hopes such discussions will foster the business environment of both countries' automotive industries. Japan's top tariffs negotiator, Ryosei Akazawa, is set to travel to the United States from Friday for the third round of tariffs talks with U.S. ministers, where negotiations in the auto and farm sectors are set to be in focus. Major Japanese automakers including Toyota Motor Corp. and Honda Motor Co. have projected a fall in net profits, while others skipped releasing their earnings estimates for the current year through March due to uncertainties over Trump's tariff measures. "It is impossible" for tariffs on autos not be negotiated in the talks with the United States, Katayama, chairman and CEO of Isuzu Motors Ltd., told reporters. Katayama stressed that Japanese automakers have contributed significantly to the U.S. economy, unveiling latest data that they have invested some $66.4 billion in the country since 1982, when local production there was launched, through the end of 2024. Data also showed that the automakers locally produced 100 million units. In 2024, 3.28 million units were produced, generating 110,000 jobs. Trump's auto tariffs have weighed on Japan's mainstay auto sector. According to official Japanese trade data, about 1.37 million vehicles were shipped to the United States in 2024, accounting for 28.3 percent of its total exports to the world's largest economy in terms of value.
