Tokyo Steel Manufacturing Co., Japan’s biggest maker of the alloy from scrap iron, plans to triple output at its newest plant as it seeks to eventually compete with Nippon Steel Corp. in the auto industry market.
Komatsu Ltd.’s decline in first- quarter operating profit shows a lower yen and growth in Japan aren’t enough to overcome weakness among its customers, threatening a strategy built around boosting margins through sales of more expensive mining equipment.
Mizuho Financial Group Inc.’s investigators said a probe into loans made to gangsters uncovered a failure in internal controls rather than efforts by Japan’s third-largest bank to deliberately mislead regulators.
Aozora Bank Ltd. headed for its biggest drop in more than five months in Tokyo, paring two days of gains spurred by Australia & New Zealand Banking Group Ltd.’s interest in bidding for the Japanese lender.
Komatsu Ltd., the world’s second- largest construction machinery maker, rose to the highest in almost two months in Tokyo after saying it would buyback as much as 30 billion yen ($395 million) of shares.
Orix Corp., the Japanese financial services provider whose operations include investment banking and insurance, aims to acquire a U.S. asset management company to add equities to its investment-product offerings.
Komatsu Ltd. , Asia’s largest maker of construction equipment, is selling more excavators in China than anticipated this quarter as the government spurs infrastructure development in its interior regions.