Top 5 Business News Headlines from Japan: What You Need to Know Today
Japan has always been a hub for economic development, and its businesses continue to make headlines worldwide. Here are five recent business news headlines that you should be aware of in Japan.
Mitsubishi Corporation’s Sustained Growth Despite Pandemic
The pandemic hit businesses worldwide, but Mitsubishi Corporation’s profit numbers have remained steady. The corporation’s operating profit for the fiscal year 2020 was $3.8 billion, an increase of 22% from the previous year. It reflects the corporation’s resilience and adaptability to changing market scenarios.
Softbank’s Profits Soar as Vision Fund Begins to Deliver
SoftBank Group is an investor in several major global startups, and its portfolio includes companies like WeWork and Uber. They have reported a profit surge of $11.1 billion, a growth of 2.8 times from the previous year, due to their investment in the Vision Fund. The company’s bold investment approach seems to be paying off finally.
JR East’s Vast Real Estate Holdings to be Capitalized
East Japan Railway has announced plans to capitalize around 70% of its vast real estate holdings, which are worth billions of dollars. The move will enable them to offset declining profits from their core railroad business. The company’s move is a significant shift towards diversification and aligns with the broader trend in Japan of large corporations capitalizing on their real estate holdings.
Toshiba to Sell its Majority Share of Manufacturing Subsidiary
Toshiba Holdings is considering selling its majority stake in a manufacturing subsidiary, Toshiba Machine. The majority stake is estimated to be valued at around $134 million. The move comes as the company attempts to restructure itself and sell off under-performing units in order to focus on its core strengths.
A New Mobile Phone Operator Shake-up on the Horizon
Rakuten Mobile is a mobile network operator, which has disrupted the telecommunication market with its low-priced plans. Now, three major new entrants are entering the market, which is expected to bring further disruption and price wars. What will it mean for the incumbent operators? Time will tell.
Conclusion:
These five news headlines from Japan demonstrate the resilience and innovation of the country’s businesses. Despite the current economic climate, companies like Mitsubishi Corporation and Softbank are thriving. Even big players like JR East and Toshiba are exploring new directions. The telecom market is undergoing disruptions and changes, which could impact the telecom giants such as Rakuten Mobile and others. Keep an eye on these developments because they are likely to have far-reaching consequences.
