At the base of snowcapped Mount Fuji sits a bright yellow compound that is home to one of Japan’s most profitable -- and secretive -- companies.
Nicolas Correa SA , Spain’s biggest maker of milling machines, predicts it will post profits in the next few years on rising sales of machine tools in China, Chairman Jose Ignacio Nicolas-Correa said.
Fanuc Corp. plans to build a new factory in Ibaraki Prefecture to double its production of machine tools to 5,000 units a month, the Nikkei newspaper reported.
Most Japanese stocks fell amid concern shares have risen too fast and as the country’s currency rebounded after approaching 100 yen to the U.S. dollar.
Grob-Werke GmbH & Co KG, a German manufacturer of metal cutting machine tools, increased the size of a loan facility signed last July to 550 million euros ($726 million) from 290 million euros.
Fanuc Corp., the world’s largest maker of controls that run machine tools, said first-quarter profit gained amid higher demand.
Renishaw Plc fell the most in London trading in more than two years after the U.K. maker of precision machine tools said revenue in the three months ended Sept. 30 increased less than predicted.
Asian stocks gained for a third day after a gauge of China’s manufacturing rose to a 16-month high, boosting investor confidence in the global economic recovery.