Lithium and copper spark $9bn cost headache for Japan automakers
TOKYO -- Japanese automakers face a multibillion-dollar hit to earnings this fiscal year from rising prices of lithium, copper and other materials crucial to the shift away from polluting cars.
The effect of higher materials costs on operating profits stands to reach about 1 trillion yen ($9 billion) for Japan's six leading car companies, led by Toyota Motor, according company disclosures and estimates by Goldman Sachs Japan. This amounts to about 30% of their total profit forecasts -- and U.S. automakers
Why China should fear the EU's carbon border tax
Alicia Garcia-Herrero is Asia-Pacific chief economist at Natixis and a senior research fellow at Bruegel, a Brussels-based think tank.
The COVID pandemic has certainly not slowed down Europe's quest to save the planet from global warming.
After further tightening its net emission target by 2030 from 40% to at least 55% compared to 1990 levels to achieve climate neutrality target by 2050, on July 14 the European Commission released its long-awaited Fit
Olympics latest: Thailand wins first gold for ASEAN in Tokyo
TOKYO -- The Tokyo Olympics have finally opened after a long journey filled with controversy, and an unprecedented one-year postponement because of the COVID-19 pandemic.
The proceedings officially began with Friday's opening ceremony at the National Stadium , a mostly subdued affair mixed with joyous moments like a high-tech drone show, and capped by tennis star Naomi Osaka lighting the Olympic cauldron.
Key events to watch on Sunday, July 25 (Tokyo time)
Tennis (first round)
- 11 a.m
Time for Japan to get real on UFO intelligence sharing
TOKYO -- Gone are the days when UFO stories were dismissed as crackpot pseudoscience. Today, they are an emerging field of public policy debate.
A recent U.S. report on unidentified flying objects, or what the intelligence community calls unidentified aerial phenomena (UAP), has brought these mysterious sightings into the realm of serious discussion on national security.
The world's powers need to take note. Japan and European allies of the U.S. should work on sharing information on UAP to learn more about them
Olympics latest: Officers on security duty test positive for COVID
TOKYO -- The Tokyo Olympics have finally opened after a long journey filled with controversy, and an unprecedented one-year postponement because of the COVID-19 pandemic.
The proceedings officially began with Friday's opening ceremony at the National Stadium , a mostly subdued affair mixed with joyous moments like a high-tech drone show, and capped by tennis star Naomi Osaka lighting the Olympic cauldron.
Key events to watch on Saturday, July 24 (Tokyo time)
Judo
- 5 p.m. session: Gold and
Coronavirus: Week of July 18 to July 24, Australia's New South Wales logs biggest rise in daily cases
Nikkei Asia is tracking the spread of the coronavirus that was first detected in the central Chinese city of Wuhan.
Cumulative global cases have reached 193,165,622, according to Johns Hopkins University in Baltimore. The worldwide death toll has hit 4,143,105.
For more information about the spread of COVID-19 and the progress of vaccination around the world, please see our interactive charts and maps.
-- Global coronavirus tracker charts
-- Status of
Japan's political parties lose sway under stronger prime ministers
TOKYO -- Although the prime minister's leadership has grown stronger, Japan's party politics are adrift. The Liberal Democratic Party's Policy Research Council, its policy coordination body where lawmakers from the "policy tribes" once were active, is a shell of its former self. The Komeito party, which joined the LDP to form the ruling coalition in 1999, has also been coordinating less with the LDP itself and focusing more on strengthening its ties with the prime minister's office.
"
Olympics latest: Athletes urged to remind one another of COVID rules
TOKYO -- The Tokyo Olympics have finally opened after a long journey filled with controversy, and an unprecedented one-year postponement because of the COVID-19 pandemic.
The proceedings officially began with Friday's opening ceremony at the National Stadium , a mostly subdued affair mixed with joyous moments like a high-tech drone show, and capped by tennis star Naomi Osaka lighting the Olympic cauldron.
Key events to watch on Saturday, July 24 (Tokyo time)
Judo
- 5 p.m. session: Gold and
Ex-MUFG CEO reveals background of investment in Morgan Stanley
TOKYO -- Mitsubishi UFJ Financial Group invested $9 billion in Morgan Stanley amid the global financial crisis triggered by the collapse of Lehman Brothers in 2008, due to the importance of "economic security" between Japan and the U.S., former MUFG CEO Nobuyuki Hirano said.
In an exclusive interview with NIKKEI Financial, Hirano, a top Japanese banker of international caliber, revealed the whole picture behind MUFG's capital tie-up negotiations with the American investment bank and discussed the problems of and expectations
Star athletes to watch at Tokyo Olympics
TOKYO -- Outstanding athletes from around the world will take part in the Tokyo Olympic Games, which officially started with the opening ceremony held on July 23 as scheduled.
This will be the first Olympics in the 21st century in which two of their biggest recent stars will not take part -- American swimmer Michael Phelps and Jamaican sprinter Usain Bolt, who earned their places in Olympics history with their extraordinary achievements.
Who will follow them as the next sporting legends? Here is the lowdown on the new wave of
