Plunging stock prices caused by Europe’s debt crisis will slash the number of new listings on the Tokyo Stock Exchange to about 50 this year, half the number projected in December, the bourse’s president said.
Japan Airlines Co. Chairman Masaru Onishi still feels a burning sensation in his stomach each time he climbs Osutaka Ridge, where 27 years ago he helped man a make-shift morgue after one of the carrier’s jets plowed into the mountainside.
Mitsubishi Heavy Industries Ltd. and Hitachi Ltd. agreed to merge power-equipment businesses with combined sales of 1.1 trillion yen ($13 billion) to bolster their product line-ups and global sales reach.
Asian stocks rose, led by commodity producers and banks, as the International Monetary Fund raised its global economic growth forecast and a U.S. trade group said the country’s retail sales grew the fastest in four years.
Toyota Motor Corp., the world’s largest carmaker, counts on the Camry sedan and the Prius hybrid to outsell other automakers. For profits, it’s counting on Prime Minister Shinzo Abe and his campaign to cheapen the yen.
U.S. Transportation Secretary Ray LaHood rode on a 502 kilometer-per-hour (312 mph) magnetic- levitation train in Japan, stoking optimism that the Asian nation may be able to sell the technology overseas.
Asian stocks fell from a three week high on concern an economic recovery may falter after U.S. retail sales declined, Federal Reserve members cut their growth forecasts for the world’s biggest economy, and China’s expansion slowed.
Japanese shares declined, with the Nikkei 225 Stock Average retreating after capping its longest streak of weekly gains since 1970, as Fanuc Corp. and Advantest Corp. led declines on earnings concerns.
Japan may offer as much as $210 million in loans to help pay for a Florida high-speed railway as a Central Japan Railway Co.-led group competes against Asian and European companies to build the first U.S. bullet-train line.