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The Star
3 days ago
- Automotive
- The Star
Japan factory declines slow in May but tariff worries persist, PMI shows
Workers assemble Honda Motor Co. North America-bound Fit vehicles on the production line at the company's Suzuka factory in Suzuka, Mie, Japan, on Tuesday, Aug. 23, 2016. Photographer: Kiyoshi Ota/Bloomberg TOKYO: Japan's factory activity shrank at the slowest pace in five months in May as the decline in new orders eased, but worries over U.S. tariffs have dampened the recovery from an almost year-long contraction, a private-sector survey showed on Monday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to 49.4 in May from 48.7 in April, marking the 11th consecutive month of staying below the 50.0-line that indicates contraction. Still, the reading was higher than the flash figure of 49.0 and the highest so far this year. "Manufacturing conditions in Japan moved closer to stabilisation in May, according to latest PMI data, with companies signalling a softer decline in sales and improved jobs growth," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. Among sub-indexes, new orders fell for the 24th straight month, with manufacturers citing U.S. tariffs and increased client hesitancy as factors behind subdued demand conditions. Factory output also contracted for a ninth consecutive month, at a quicker pace than in April, the survey showed. To mitigate the impact of the U.S. tariffs on cars and other manufacturing sectors, which are the backbone of the Japanese economy, Tokyo has held four rounds of trade talks with Washington and plans a fiscal package to support households and businesses. In a positive sign, input cost inflation eased to a 14-month low in May, while output price inflation slowed to the softest in nearly four years. Employment increased for the sixth month in a row as firms filled vacancies and prepared for anticipated production increases, according to the survey. Business confidence on future output strengthened from April's near five-year low, with firms citing expectations of stronger market demand particularly in the semiconductor industry. However, some expressed concerns over U.S. tariffs, inflation and Japan's declining population as potential headwinds to growth, the survey showed. - Reuters
CNBC
26-05-2025
- Business
- CNBC
Asia-Pacific markets set to trade flat as Trump's tariff threats on Apple and the EU dent investor sentiment
A customer places a Japanese 10,000 yen banknote on a checkout counter while making a purchase at an Akidai YK supermarket in Tokyo, Japan, on Monday, June 27, 2022. Kiyoshi Ota | Bloomberg | Getty Images Asia-Pacific markets are set to trade mixed Monday, trailing losses on all three key benchmarks on Wall Street last Friday after U.S. President Donald Trump's threats to impose tariffs on tech giant Apple as well as stiffer duties on the European Union. Japan's benchmark Nikkei 225 was set to open slightly higher, with the futures contract in Chicago at 37,250 while its counterpart in Osaka last traded at 37,190, against the index's last close of 37,160.47 Futures for Hong Kong's Hang Seng index stood at 23,479, pointing to a weaker open compared to the HSI's Friday close of 23,601.26. Australia's S&P/ASX 200 is slated to start the day inching higher, with futures tied to the benchmark at 8,387, compared to its last close of 8,360.90. — CNBC's John Melloy and Lisa Kailai Han contributed to this report.
Wall Street Journal
14-05-2025
- Business
- Wall Street Journal
Sony Sees Modest Hit From U.S. Tariffs
Lin Tao, chief financial officer, said Sony had diversifed production sites for the PlayStation 5 and built up U.S. inventory to deal with tariffs. (Kiyoshi Ota/Bloomberg News)
Toronto Sun
12-05-2025
- Automotive
- Toronto Sun
Nissan job cuts double to 20,000 in huge overhaul
Published May 12, 2025 • Last updated 0 minutes ago • 2 minute read A Nissan Motor Co. Ariya electric crossover sport utility vehicle (SUV), bottom, on display in a showroom at the company's global headquarters in Yokohama, Japan, on Wednesday, Nov. 9, 2022. Photo by Kiyoshi Ota / Bloomberg Nissan Motor Co. will eliminate 11,000 more jobs than previously planned, NHK reported Monday, as part of a plan to restructure its flailing business. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The Japanese carmaker said in November it would cut 9,000 positions after weak sales in the US and China led to a 94% drop in first-half net income. Now those job cuts will be closer to 20,000, or around 15% of the entire workforce, according to Japan's national broadcaster. The redundancies will occur both at home and overseas, it added. Nissan declined to comment. Nissan's crisis is in danger of getting even worse after the company warned shareholders last month that it will see a net loss on restructuring costs of as much as ¥750 billion ($5 billion) for the fiscal year that ended March 2025. The breadth of the automaker's financial woes first became clear late last year when as well as the 9,000 job cuts, it announced it would reduce production capacity by 20% and slashed its profit guidance. Nissan has since further lowered its outlook, as it buckled under aggressive competition in the US and China. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. A lifeline from its peer, Honda Motor Co., looked somewhat promising when the pair signed an agreement in December to combine both brands under a single holding company. However within weeks, what could've have created one of the world's biggest carmakers — at least in theory — fell apart due to disagreements over an inherent power imbalance between the two legacy brands. The alliance was formally ended in February, and Nissan has been sliding further into its worst position in some 26 years. Despite the failed merger, Nissan and Honda are continuing a strategic partnership focused on EVs and batteries, leaving room for future talks. Nissan also doesn't have a strong lineup of hybrid vehicles to offer customers in key markets and has been embroiled in management turmoil and infighting since former Chairman Carlos Ghosn was arrested and ousted in 2018. This advertisement has not loaded yet, but your article continues below. Meanwhile, President Donald Trump's tariffs on cars and car parts imported to the US have been painful to most global brands, but crippling in Nissan's case. Aside from its sales challenges, Nissan's liabilities are also poised to rise dramatically. Nissan and its affiliates face $1.6 billion in debt maturities this year, rising to $5.6 billion in 2026 — the highest level since at least 1996, according to data compiled by Bloomberg. Ivan Espinosa, who was appointed chief executive officer in April, faces the hefty task of turning Nissan's fortunes around. He'll be expected to shed light on speculation over job cuts and potential plant closures when Nissan announces fiscal results on Tuesday. Sunshine Girls Health Sunshine Girls Toronto Maple Leafs Toronto & GTA
