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☆ Activist Jana Partners calls for a strategic review at Wolfspeed. Here’s how it may develop
▼ + stars: | 2024-04-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. Wolfspeed is the world's leading producer of silicon carbide, or SiC, and a manufacturer of silicon carbide applications. Jana also recommends that the board commences a review of strategic alternatives, including a possible sale of the company. At Freshpet, Jana also made operational and capital allocation recommendations in addition to reviewing a sale of the company. Here, there has been no such mention of a "Jana Dream Team," but it is a little too early for that.

Persons: Jana, Barry Rosenstein, Rosenstein, John Palmour, Wolfspeed, Renesas, Ken Squire Organizations: John Palmour Manufacturing, Silicon Carbide, Mitsubishi Electric, 13D Locations: Siler City, N.C, Marcy, N.Y, North Carolina, Mohawk, New York, Germany, Freshpet

☆ Uber Eats is launching robot deliveries in Japan
▼ + stars: | 2024-02-20 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Uber Eats customers in Japan can soon have an autonomous robot deliver their food on the streets of Tokyo. Japan will be the first international market to have autonomous delivery available on the Uber Eats platform. Uber Eats is launching robot delivery services in Japan. Uber Eats and Cartken first partnered to launch autonomous robot delivery services in parts of Miami in 2022, and expanded robot delivery to Fairfax, Virginia, last year. “In the future, we will work with buildings and factory infrastructure, which is one of our strengths, so autonomous robots will be able to deliver inside various facilities.”

Persons: Uber, Cartken, Shoji Tanaka, ” Tanaka, ” Organizations: CNN, Mitsubishi, Mitsubishi Electric, Cartken’s, Germany, Development Division Locations: Japan, Tokyo, Miami, Fairfax , Virginia

☆ Uber Eats to begin self-driving robot deliveries in Japan
▼ + stars: | 2024-02-20 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Uber announced Tuesday that its Uber Eats business is partnering with Mitsubishi Electric and delivery robotics company Cartken to begin transporting food using self-driving robots in Japan. The sidewalk robot deliveries are set to start by the end of March in a select area of Tokyo, according to the companies. Uber Eats said Japan will be the first international site of its autonomous delivery operations, which have so far been limited to a few cities in the United States. The news out of Japan marks the latest joint effort by Uber Eats and Cartken, which already offer sidewalk robot deliveries in Miami and in Fairfax, Virginia. Uber Eats has also partnered with robotics companies Motional, Nuro and Serve Robotics to pilot autonomous deliveries in other U.S. cities.

Persons: Uber, Uber Eats, Cartken, Anjali Jindal Naik, Cartken's Organizations: Mitsubishi Electric, Google, Robotics Locations: Japan, Tokyo, United States, Oakland , California, Miami, Fairfax , Virginia, U.S

☆ AI is fueling global power demand. Morgan Stanley sees opportunities for these 'underappreciated' winners
▼ + stars: | 2024-02-01 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Power demand from generative AI will soar from 46 terawatt hours to 224 TWH between this year and 2027, according to the firm's base case scenario. That's equivalent to more than 75% of the total global data center power use in 2022, or close to Spain's entire power consumption in 2022, the firm said. "We believe the rapid power demand growth from GenAI is not well understood, and not priced into a number of stocks." Among large-scale renewable developers in the U.S., AES has the largest commercial and industrial market share, according to Morgan Stanley. Apart from data center infrastructure and power providers, utilities are another part of the data center servicing ecosystem.

Persons: Morgan Stanley, Morgan Stanley's, Andrew Percoco, Bloom, Percoco, NextEra, Max Yates, Sharon Shih Organizations: CNBC, Bloom Energy, AES Corp, NextEra Energy, Google, Microsoft, Bank of America, AES, Big Tech, Stocks, Delta Electronics, Mitsubishi Electric, Analysts, Dominion Energy Locations: GenAI, U.S

☆ Japan's Denso, Mitsubishi Electric to invest $1 bln in Coherent's silicon carbide unit
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

A logo of Mitsubishi Electric Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsOct 10 (Reuters) - Coherent (COHR.N), a major U.S. supplier of materials used to make chips for the automotive industry, said on Tuesday Japan's Denso (6902.T) and Mitsubishi Electric (6503.T) will invest $1 billion in the company's silicon carbide business. Denso and Mitsubishi Electric will invest $500 million each in exchange for a 12.5% non-controlling ownership interest in Coherent's unit, as per the agreement. The investment would alleviate the financial burden for Coherent, which had explored strategic review of its silicon carbide business in May. Chips made with silicon carbide are used in applications that require massive quantity of power conversion such as inverters and drivetrains in electric vehicles.

Persons: Toru Hanai, Denso, Takemi, Priyamvada, Sherry Jacob, Phillips Organizations: Mitsubishi Electric Corp, Advanced Technologies, Makuhari, REUTERS, Mitsubishi Electric, Mitsubishi, Reuters, Hitachi Ltd, Sumitomo Electric Industries Inc, Thomson Locations: JAPAN, Chiba, Japan, U.S, Pittsburgh , Pennsylvania, Bengaluru

The investment would alleviate the financial burden for Coherent, which has said it will invest $1 billion over the next 10 years to expand its production of silicon carbide wafers, which help boost the range of electric vehicles more than chips made with traditional silicon. Denso Corp (6902.T), Hitachi Ltd (6501.T), Mitsubishi Electric Corp (6503.T) and Sumitomo Electric Industries Inc (5802.T) have held discussions about taking a minority stake in Coherent's silicon carbide business, the source said. Coherent may accept more than one of these companies as investors in the silicon carbide division at a valuation of between $4 billion and $5 billion, the source added, requesting anonymity because the matter is confidential. Coherent, which said in May it would explore options for its silicon carbide business, declined to comment. Chips made with silicon carbide are used in applications that require huge amounts of power conversion, such as inverters and drivetrains in electric vehicles.

Persons: Chips, Milana Vinn, Andrea Ricci Organizations: Denso Corp, Hitachi Ltd, Mitsubishi Electric Corp, Sumitomo Electric Industries Inc, Thomson Locations: U.S, Pittsburgh , Pennsylvania, China, New York

[1/2] A model of a new fighter jet of the Global Combat Air Programme (GCAP) led by Britain, Japan, and Italy, is seen at the DSEI defence event in London, Britain, September 12, 2023. Reuters/Sarah Young/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - Japan, Britain and Italy plan to choose Britain as the headquarters for their next-generation fighter program, four sources in Japan said, putting London at the forefront of a partnership that could expand to include other nations. "Discussion about the headquarters is ongoing and we are unable to comment on the location," Japan's defence procurement agency said in an email. "No final decisions have been made on the locations and we will not comment on speculation," a spokesperson at Britain's defence ministry said. Officials at the Italian defence ministry were unavailable for comment.

Persons: Sarah Young, Leonardo, LDOF.MI, Richard Berthon, Britain's, Tim Kelly, Nobuhiro Kubo, Paul Sandle, Angelo Amante, Gerry Doyle Organizations: Global Combat Air, Reuters, Rights, London, United, United Arab Emirates, Combat, Britain's Ministry of Defence, BAE Systems PLC, Mitsubishi Heavy Industries, Mitsubishi Electric Corp, Royce PLC, Japan's IHI Corp, Thomson Locations: Britain, Japan, Italy, London, Saudi Arabia, United Arab, GCAP, European

☆ Japan's 'moon sniper' to test precision landing - and Tokyo's space ambitions
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Sept 6 (Reuters) - Japan aims to become the fifth country to land a spacecraft on the lunar surface with the launch of a low-cost "moon sniper" on Thursday that will test precision landing technology designed to further Tokyo’s space goals. Japan's efforts to build a homegrown space industry are also on display: The lander was assembled by Mitsubishi Electric (6503.T), using its landing radars, computers and transponder. That made India the fourth country to land a spacecraft on the moon after the United States, Russia and China. "Precise landing technology gives the ability and confidence for future human space exploration missions. In return, Washington has promised Japan seats on future crewed Artemis missions to the moon.

Persons: Smart Lander, Kenji Kushiki, SLIM, Sreeram Ananthasayanam, Tim Kelly, Nivedita, David Dolan, Kevin Krolicki, Gerry Doyle Organizations: Japan Aerospace Exploration Agency, JAXA, Tanegashima Space, Mitsubishi Heavy Industries, Nectaris, Mitsubishi Electric, Sharp Corp, Electric, Deloitte India, NASA, U.S, Thomson Locations: TOKYO, Japan, India, Delhi, United States, Russia, China, Luna, Washington

☆ Sweaty Europe can kill two birds with one pump
▼ + stars: | 2023-08-07 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +8 min

What may be less immediately obvious is that heat pumps are the best way to do both. In Europe, currently only 16% of residential buildings use heat pumps, according to a study from the European Heat Pump Association (EHPA) based on data from 21 countries including non-EU Britain and Norway, with 20 million heat pumps installed. On average buying and installing a heat pump could cost up to $13,000 compared to $2,500 for a gas boiler. Heat pump sales rose 35% in Italy last year, making it Europe’s second-biggest marketplace after France, EHPA data shows. To meet net-zero targets by 2030 EHPA estimates Europe would need 60 million more heat pumps installed by 2030.

Persons: Remo Casilli, Olaf Scholz’s, Joe Biden’s, António Guterres, George Hay, Oliver Taslic, Streisand Neto Organizations: Popolo, REUTERS, Remo Casilli LONDON, Reuters, International Energy Agency, IEA, European Union, Pump Association, Reuters Graphics, U.S . Energy Information Administration, Carrier, Mitsubishi Electric, Daikin Industries, El, El Corte Inglés, Thomson Locations: Italy, Rome, Europe, EU Britain, Norway, France, Germany, Poland, Brussels, Britain, United States, U.S, U.N, El Corte

Powerchip and Japanese financial firm SBI Holdings (8473.T) earlier this month said they aim to attract government subsidies to build the plant amid a wave of investment in Japan aimed at boosting its chip manufacturing capabilities. "I think about five to seven years... it depends on the business," Joe Wu, President of PSMC Japan, told Reuters when asked about the timing for a potential listing. Powerchip said it sees scope for additional foundry capacity in Japan, which has seen a lack of investment. The Taiwanese firm previously set up a joint venture in China to build a chip factory which listed in Shanghai this year. Powerchip and SBI hope to attract additional funds for the Japan business and are targeting chip industry customers and financial investors as potential backers, Wu said.

Persons: Powerchip, Joe Wu, Wu, Sam Nussey, Miho Uranaka, Elaine Hardcastle Organizations: Powerchip Semiconductor Manufacturing Corp, SBI Holdings, Reuters, Companies, Renesas Electronics, Mitsubishi Electric, Taiwan Semiconductor Manufacturing, Sony Group, Denso Corp, Powerchip, Thomson Locations: TOKYO, Taiwan, Japan, Kyushu, China, Shanghai

☆ North Korea says it will launch its first-ever military spy satellite to monitor U.S. drills
▼ + stars: | 2023-05-30 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

SEOUL, SOUTH KOREA - FEBRUARY 09: People watch a television show North Korea's 75th anniversary of the founding of the armed forces day military parade released by Korean Central News Agency (KCNA) in Seoul, South Korea. Chung Sung-jun | Getty Images News | Getty ImagesNorth Korea announced its plans to launch its first-ever military spy satellite – giving a lift for some South Korean and Japanese defense stocks. North Korean military official Ri Pyong Chol said in a Monday statement that Pyongyang plans to launch a satellite with the aim to track "dangerous" actions by the U.S., pointing to its recent joint military drills taking with South Korea. North Korea claimed the event "fully proves how the enemy is making preparations for the military act of aggression on the DPRK," referring to its official name, the Democratic People's Republic of Korea. Defense stocks riseShares of South Korean defense companies Firstec and Victek rose 3.8% and 3.3% respectively Tuesday afternoon, returning from a market holiday Monday.

☆ Japan's Mitsubishi Electric to build India plant for $231 mln
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, May 9 (Reuters) - The Indian arm of Japan's Mitsubishi Electric Corp (6503.T) said on Tuesday that it will invest 18.91 billion rupees ($231.2 million) to set up a manufacturing facility in the southern state of Tamil Nadu. Mitsubishi Electric India will employ 2004 people for this project, it said in an official statement. ($1 = 81.7800 Indian rupees)Reporting by Hritam Mukherjee in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

"Until now, the ministry has taken the defence companies for granted," said Masahisa Sato, an influential ruling party lawmaker and former deputy defence minister. Three of them, Mitsubishi Heavy, Mitsubishi Electric and IHI Corp (7013.T), which makes jet engines, bridges and heavy machinery, confirmed they had also taken part in other lower-level discussions. Reuters asked 10 of Japan's military suppliers, including Toshiba, Mitsubishi Electric, Daikin and Subaru, for interviews with their defence unit managers. Despite diplomatic tensions, China is Japan's top trade partner and a major manufacturing base for many Japanese companies. Even so, Japanese companies often refer to their military products as "special equipment," the government official said.

[1/5] A concept model of the Global Combat Air Programme (GCAP)'s fighter jet is displayed at the DSEI Japan defense show at Makuhari Messe in Chiba, east of Tokyo, Japan March 15, 2023. REUTERS/Kim Kyung-HoonTOKYO, March 15 (Reuters) - Britain and Japan are set to dominate a three-nation project with Italy to build an advanced jet fighter, with Rome set to pay around only a fifth of the overall development cost, two sources said. "The cost of the project will likely be around 40% each for Japan and Britain," one of the people with knowledge of discussions told Reuters. Japan's defence ministry said that discussions were ongoing and declined to comment on the cost sharing ratios. Details of which companies will build what components are being hammered out in regular talks between more junior government officials and contractors in Britain, Japan and Italy, the sources said.

☆ As space junk threat grows, government and investors seek solutions
▼ + stars: | 2023-03-03 | by ( Joey Roulette | ) www.reuters.com time to read: +5 min

And with no set norms for military space behavior, some fear a potential space weapon attack that could generate far more debris. U.S. Space Command on Friday released a formal list of what it views as responsible space behaviors, in a bid to steer military norms in orbit. The wide-ranging report includes a section on space debris that urges space players to dispose safely of their defunct satellites and notify other operators if any problems with their spacecraft might pose a debris hazard. Another part of the space debris mitigation equation is in-space satellite servicing, concepts in development by dozens of firms including Astroscale, Northrop Grumman (NOC.N), Maxar (MAXR.N) and Airbus (AIR.PA). Australia-based Neumann Space, for instance, is developing a technology that could help recycle old, defunct satellites into fuel - using the scrap metal to generate plasma thrust for new satellites.

☆ Japan startup selling $550,000 Star Wars-inspired hoverbike to list on NASDAQ
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] A.L.I technology's Xturismo air-mobility hover bike is displayed at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar SuFeb 3 (Reuters) - Japanese startup Aerwins Technologies, which is selling a Star Wars-inspired $555,000 hoverbike, has received approval to list on the NASDAQ in a merger with blank-check firm Pono Capital Corp (PONO.O), the manufacturer said on Friday. Aerwins, which is taking orders for the XTurismo hoverbike with a motorcycle-like body on top of propellers that it unveiled last year, estimates it will be valued at $600 million in the transaction. Started as ALI Technologies in Tokyo, the company said in a statement to Reuters that NASDAQ had approved its listing on Thursday, with trading to begin on Monday. Aikawa's company, SBC Medical Group, which operates cosmetic medical centres in Japan, is going public through a merger with another Pono-related blank check company, Pono Capital Two (PTWO.O).

☆ Japan, Britain and Italy to build jet fighter together
▼ + stars: | 2022-12-09 | by ( ) www.nbcnews.com time to read: +4 min

Japan, Britain and Italy are merging their next-generation jet fighter projects in a ground-breaking partnership spanning Europe and Asia that is Japan’s first major industrial defense collaboration beyond the United States since World War II. Amid what it sees as deteriorating regional security, Japan this month will announce a military build up plan that is expected to double defense spending to about 2% of gross domestic product over five years. “It’s also good for our international reputation”The proposed jet fighter aircraft Tempest, shown during the Farnborough Airshow, in southern England in July. Britain also wants Japan to improve how it provides security clearances to contractors who will work on the aircraft, sources with knowledge of the discussions told Reuters. “The United States supports Japan’s security and defense cooperation with likeminded allies and partners, including with the United Kingdom and Italy,” the U.S. Department of Defense said in a joint statement with Japan’s Ministry of Defense.

TOKYO/LONDON, Dec 9 (Reuters) - Japan, Britain and Italy are merging their next-generation jet fighter projects in a ground-breaking partnership spanning Europe and Asia that is Japan's first major industrial defence collaboration beyond the United States since World War Two. Amid what it sees as deteriorating regional security, Japan this month will announce a military build up plan that is expected to double defence spending to about 2% of gross domestic product over five years. Britain also want Japan to improve how it provides security clearances to contractors who will work on the aircraft, sources with knowledge of the discussion told Reuters. The United States, which has pledged to defend all three countries through its membership of NATO and a separate security pact with Japan, also welcomed the joint Europe-Japan agreement. "The United States supports Japan's security and defence cooperation with likeminded allies and partners, including with the United Kingdom and Italy," the U.S. Department of Defense said in a joint statement with Japan's Ministry of Defense.

TOKYO/LONDON, Dec 9 (Reuters) - Japan, Britain and Italy are merging their next-generation jet fighter projects in a bridge between Europe and Asia that marks Japan's first major industrial defence collaboration beyond the United States since World War Two. Britain also wants Japan to improve how it provides security clearances to contractors, sources with knowledge of the discussions told Reuters. The two new platforms would compete head-on with each other and the United States in the global fighter market. "There is going to be a Battle Royal in the next 10-15 years in positioning the various players," said UK defence analyst Francis Tusa. The United States, which has pledged to defend all three countries through NATO and a separate security pact with Japan, welcomed the new Europe-Japan agreement.

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