Latest news with #YukiNakao
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
SMBC to set up $300m fund for US fintech, AI startups
SMBC and Fin Capital's corporate venture capital fund will support financial technology startups. (Photo by Yuki Nakao) MASAYUKI SHIKATA TOKYO -- Sumitomo Mitsui Banking Corp. (SMBC) will establish a $300 million venture capital fund in partnership with a U.S. asset manager to invest in artificial intelligence and fintech startups, the Japanese lender announced Monday. The new SMBC Fin Atlas Beyond Fund will be set up in partnership with asset manager Fin Capital. SMBC will provide most of the funding, with plans to run the fund for 10 years.
Nikkei Asia
24-07-2025
- Automotive
- Nikkei Asia
Mitsubishi Motors' Q1 profit plummets as Trump tariffs bite
Mitsubishi Motors says its April-June profit fell partly because of a 14.4 billion yen U.S. tariff impact. (Photo by Yuki Nakao) YUICHI SHIGA TOKYO -- Mitsubishi Motors on Thursday announced an 84% year-on-year decline in its first-quarter operating profit, a sign of the "unprecedentedly challenging conditions" that followed U.S. President Donald Trump's imposition of a 25% tariff on cars in April. The Japanese automaker's operating profit fell to 5.6 billion yen ($35.5 million) in the April-June quarter, in part because of a 14.4 billion yen tariff impact. The company does not have a car assembly plant in the U.S., making it reliant on foreign production bases for sales in that market.
Nikkei Asia
25-06-2025
- Business
- Nikkei Asia
EU set to propose protection of eels as endangered species
Freshly caught eels in Aichi prefecture. Japan is the world's largest eel consumer. (Photo by Yuki Nakao) TAKASHI TSUJI and TAKUMI SASAKI THE HAGUE, Netherlands/TOKYO -- The European Union is set to propose that eels be added to the Convention on International Trade in Endangered Species (CITES), which regulates the global trade of protected animals and plants. If adopted by the treaty's conference of parties at the end of November, the trade of juvenile eels and other eel products in East Asia will be restricted.
