Latest news with #NikkeiAsia
Nikkei Asia
2 hours ago
- Politics
- Nikkei Asia
Philippines 'open' to deal with Beijing to ease South China Sea tension
TOKYO -- The Philippines is considering establishing new diplomatic arrangements with China to ease tensions in the disputed South China Sea, according to Foreign Affairs Secretary Enrique Manalo. "If there were to ever be such an agreement, it would have to be consistent with our position, that it doesn't affect our sovereign rights, our sovereignty," Manolo told Nikkei Asia in an interview on the sidelines of the media company's Future of Asia conference in Tokyo. "So certainly, there's a possibility."
Nikkei Asia
3 hours ago
- Business
- Nikkei Asia
Pakistan to offer to buy more soybeans to slim trade surplus with US
TOKYO -- Pakistan will offer to purchase more American soybean seeds, edible oil and fuel to reduce its trade surplus with the U.S. while inviting investment in its mining and mineral sector during trade talks with the Trump administration, the South Asian country's top official told Nikkei Asia. The Pakistani government has already established a finance-ministry-led steering committee for the upcoming negotiations, and Minister for Commerce Jam Kamal Khan has written a letter to U.S. Commerce Secretary Howard Lutnick to initiate the trade talks, Khan said in an interview with Nikkei in Tokyo last week. A series of official- and minister-level negotiations, including "the State Department, the Commerce secretary and other departments" of the U.S. and their Pakistani counterparts, are expected to be held "within the month of June," Khan added.
Auto Blog
a day ago
- Automotive
- Auto Blog
The $700 Million Question: Why Nissan Is Selling Its Iconic Yokohama Headquarters
Nissan could follow in the footsteps on McLaren with a major potential sale to reduce debt. Nissan eyes sale of valuable property it's had since 2009 A report from Nikkei Asia citing sources familiar with the matter states that Nissan is considering selling its global headquarters in Yokohama, south of Tokyo, Japan, valued at over 100 billion yen ($698 million), by March 2026. Nissan would use the money to help cover restructuring costs associated with cutting its seven plants and cutting around 20,000 jobs. The automaker is expected to incur an additional 60 billion ($415.6 million) yen in restructuring costs for the current financial year, according to a Q&A session with the company and analysts on May 13. 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More 'We plan to cover the restructuring costs through asset sales,' CEO Ivan Espinosa said, according to Nikkei Asia. Due to pending restructuring costs and U.S. tariff impacts, Nissan hasn't yet released an earnings forecast for the year. Nissan global headquarters entrance — Source: Getty Nissan's roadmap to recovery Nissan is ailing after suffering a $4.5 billion loss last year, and current market conditions aren't helping its prospects. Two of the seven factories Nissan is closing are domestic sites, with indicators that the Oppama and Shonan plants are on the chopping block, according to Motor1. The Tochigi facility isn't being targeted because of its test course, which is vital for vehicle development. Nissan is also axing some new vehicles along with six platforms, leaving the company with seven platforms, down from 13. Autoguide reports that the manufacturer is simplifying vehicle architectures to reduce parts complexity by 70% using reassigned members from its research and development department. Nissan states that its recovery plan, named Re:Nissan, targets savings of more than $3 billion to return to profitability by the 2026 fiscal year. Nissan's headquarters have been in Yokohama since 2009, when it moved from Tokyo's Ginza district. Nissan told Autoblog that it's 'considering all possibilities to recover its business performance, but there are no specifics to share at this time.' 'In the face of challenging FY24 performance and rising variable costs, compounded by an uncertain environment, we must prioritize self-improvement with greater urgency and speed, aiming for profitability that relies less on volume. As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery,' said Nissan CEO Ivan Espinosa. Nissan Ariya at the automaker's global headquarters in Japan — Source: Getty Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Final thoughts While Nissan may sell its Yokohama, Japan headquarters, there's a good chance it'll lease back the space, similar to what McLaren did in 2021 to reduce debt. McLaren will continue using its Woking, England headquarters through at least 2041. The move might prove wise given that Nissan could make around $700 million and essentially stay put through signing a sale-and-leaseback deal, but we'll have to see how their other plans pan out.
Business Insider
2 days ago
- Business
- Business Insider
U.S.-Japan Trade Talks End with No Deal
Japan Economic Minister Ryosei Akazawa has concluded his meeting with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The meeting, which lasted over two hours and marked the fourth round of talks, ended without the two sides reaching a trade deal. Confident Investing Starts Here: Still, the two countries agreed to meet again with the topics of semiconductor and rare earth trade in mind ahead of the Group of Seven (G7) Leaders' Summit in July, according to Nikkei Asia. Japan Seeks Reversal of All U.S. Tariffs After the meeting, Akazawa said that it would be difficult to form a trade deal unless the U.S. agrees to drop all of its tariffs, including the duties set on Japanese vehicles. President Trump had previously enacted a 25% tariff on imported cars and trucks from Japan before reducing the rate to 10% for 90 days. In 2024, Japan exported roughly $148 billion of goods to the U.S. with vehicles accounting for about 28% of that figure. The U.S.' goods trade deficit with Japan stands at $68.47 billion.
Yahoo
3 days ago
- Business
- Yahoo
Japan's Watami to open training centre in Bangladesh
Watami, a restaurant group based in Japan, has announced plans to open a training centre in the Bangladeshi capital Dhaka, as reported by Nikkei Asia. The centre will train locals in farming, customer service, factory skills and food service, to send 3,000 individuals annually to Japan on specified skilled worker visas. The Japan Training Center, set to launch in October 2025, will be situated at the facilities of a Bangladeshi government agency. 1500 people will initially undergo a two-month training programme in skills such as customer service and factory work. Watami will leverage personnel from a Japanese language school operated by a group company to assist in the training. The development comes after Japan expanded its entry visa in 2023 to cover 11 industries, including the food service sector. The expansion allows foreign workers to engage in more complex roles such as store operations and management. Watami chairman and president Miki Watanabe stated: "Securing human resources is an obstacle to growth in the restaurant business. Being able to develop human resources in-house will be a strength." Established in 2020, Watami Agent, the human resources development unit of Watami, had welcomed 900 foreign workers by the end of March 2025. This included technical intern trainees and specified skilled workers, with 400 introduced to 107 companies. Japan is looking to recruit up to 100,000 workers from Bangladesh by 2030 to mitigate its labour shortage. Bangladesh's chief adviser Muhammad Yunus from the Bangladesh Seminar on Human Resources emphasised the interim government's commitment to facilitating employment opportunities for Bangladeshis in Japan. "Japan's Watami to open training centre in Bangladesh" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
