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Toyota, Toyota Industries and Aisin will sell Denso shares worth a total of about 700 billion yen ($4.7 billion) at current market prices, the two sources said. In a statement, Denso said it was considering a share sale, a buyback and other capital measures, but that nothing had yet been decided. At $4.7 billion, it would be the second-biggest such share offering in Japan this year, after the more than $9 billion sale of shares in Japan Post Bank (7182.T) in March, according to LSEG data. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Denso, Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed, Miral Fahmy, Louise Heavens Organizations: Companies, Toyota, Toyota Industries, Aisin, Japan Post Bank, Tokyo Stock Exchange, Buyers, KDDI Corp, Reuters, Nikkei, Thomson Locations: TOKYO, Denso, Japan

Toyota Motor's portion will represent almost half of the roughly 10%, with the total sale seen at about 700 billion yen ($4.7 billion) at current market prices, the two sources said. A Toyota spokesperson said it was not in a position to comment on Denso, adding the contents of the Reuters report of the share sale were not something it had announced itself. Buyers of the shares are expected to largely be domestic investors, and the price has yet to be determined, the sources said. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed Organizations: Companies, Toyota, KDDI Corp, Tokyo Stock Exchange, Reuters, Nikkei, Thomson Locations: TOKYO, Denso

☆ Congo's Katumbi promises security in restive east
▼ + stars: | 2023-11-24 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsCongo's Katumbi promises security in restive eastPostedWith less than a month until Democratic Republic of Congo's election, presidential candidate Moise Katumbi has told residents in Goma that he will make security a priority if he wins. David Doyle has more.

Persons: Congo's, Moise Katumbi, David Doyle Organizations: Democratic Locations: restive, Democratic Republic, Goma

As Open AI employees celebrated the return of CEO Sam Altman with a five-alarm office party , OpenAI software engineer Steven Heidel was busy publicly rebuffing overtures from Salesforce CEO Marc Benioff. Heidel was one of more than 700 OpenAI employees who's threatened exodus halted a would-be mutiny at one of Silicon Valley's most important AI companies. He was previously a scientist at Facebook AI Research and worked as a member of Google Brain under supervision of Prof. Geoffrey Hinton and Ilya Sutskever. Alec Radford: Radford was hired in 2016 from a small AI company he founded in his dorm room. Tao Xu : technical staff, worked on GPT4 and WhisperChristine McLeavey : technical staff, with contributions to music-related productsChristina Kim : technical staffChristopher Hesse : technical staffHeewoo Jun : technical staff, researchAlex Nichol : technical staff, researchWilliam Fedus: technical staff, researchIlge Akkaya: technical staff, researchVineet Kosaraju : technical staff, researchHenrique Ponde de Oliveira Pinto : technical staffAditya Ramesh : technical staff, developed DALL-E and DALL-E 2Prafulla Dhariwal : research scientistHunter Lightman : technical staffHarrison Edwards : research scientistYura Burda : machine language researcherTyna Eloundou : technical staff, researchPamela Mishkin : researcherCasey Chu : researcherDavid Dohan : technical staff, researchAidan Clark : researcherRaul Puri : research scientistLeo Gao : technical staff, researchYang Song : technical staff, researchGiambattista ParascandoloTodor Markov : Machine learning researcherNick Ryder : technical staff

Persons: Sam Altman, Steven Heidel, Marc Benioff, Heidel, Altman, Mira Murati, Murati, Brad Lightcap, Lightcap, Jason Kwon, Kwon, Wojciech Zaremba, Geoffrey Hinton, Ilya Sutskever, Alec Radford, Radford, OpenAI, Peter Welinder, He's, Github Copilot, Anna Makanju, Andrej Karpathy, OpenAI's, Michael Petrov, Petrov, Greg [ Brockman, Miles Brundage, Brundage, John Schulman OpenAI, Srinivas Narayanan, Scott Grey, Grey, Bob McGrew, Research Che Chang, Lillian Weng, Safety Systems Mark Chen, Frontiers Research Barret Zoph, Peter Deng, Jan Leike Evan Morikawa Steven Heidel Jong Wook Kim, Tao Xu, Christine McLeavey, Christina Kim, Christopher Hesse, Heewoo, Alex Nichol, William Fedus, Henrique Ponde de Oliveira Pinto, Aditya Ramesh, Hunter Lightman, Harrison Edwards, Yura, Tyna, Pamela Mishkin, Casey Chu, David Dohan, Aidan Clark, Raul Puri, Leo Gao, Yang, Giambattista Parascandolo Todor Markov, Nick Ryder Organizations: Business, BI, OpenAI, Khosla Ventures, Facebook, Research, Google, Tesla, U.S . Department of Energy, Oxford University, Safety Systems, Frontiers Research Locations: Albania, Canada, OpenAI

☆ Congo's president launches election campaign
▼ + stars: | 2023-11-20 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsCongo's president launches election campaignPostedCongo's President Felix Tshisekedi has launched his campaign for the country's December 20 election as opposition parties attempt to unite behind a joint candidate. David Doyle has more.

Persons: Felix Tshisekedi, David Doyle Organizations: Congo's

☆ Japan's Daisaku Ikeda, longtime Soka Gakkai lay Buddhist leader, dies at 95
▼ + stars: | 2023-11-18 | by ( Anton Bridge | ) www.reuters.com time to read: +3 min

Ikeda died on Wednesday evening from natural causes at age 95, Soka Gakkai said in a statement on its website. Soka Gakkai, founded in 1930, says it has 12 million members in 192 countries and territories worldwide. He also founded Soka Gakkai's umbrella organisation, Soka Gakkai International, in 1975, where he served as honorary president from 1979 until his death. But those dropped off in recent years leading to some speculation about his health and role in Soka Gakkai International. In 1947 he met Josei Toda, then leader of the Soka Gakkai organisation, who was to become his mentor.

Persons: Daisaku Ikeda, Ikeda, Zhou Enlai, Mikhail Gorbachev, Arnold Toynbee, Polly Toynbee, Ichi, Josei Toda, Succeeding Toda, Kaneko, Hiromasa, Takahiro, Anton Bridge, David Dolan, William Mallard aand Kim Coghill Organizations: Soka Gakkai, Kyodo, Rights, Soviet, government's, Soka, Soka Gakkai International, SGI, Thomson Locations: Tokyo, Japan, British

☆ Liberia's Weah concedes election defeat to Boakai
▼ + stars: | 2023-11-18 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsLiberia's Weah concedes election defeat to BoakaiPostedLiberia is set for its second democratic transfer of power in seven decades after football-star-turned-president George Weah called to congratulate former vice-president Joseph Boakai on his election victory. David Doyle has more.

Persons: Liberia's Weah, Boakai, George Weah, Joseph Boakai, David Doyle Locations: Liberia

☆ Panasonic plans to sell stake in autos business to Apollo Global funds
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

A logo of Panasonic 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 RightsTOKYO, Nov 17 (Reuters) - Japan's Panasonic Holdings (6752.T) said on Friday it plans to sell a stake in its automotive systems business to funds managed by U.S. private equity firm Apollo Global Management, and has signed a memorandum of understanding with an Apollo affiliate. Continued investment in the automotive systems business would be necessary to achieve sustained growth for the company amid a rapid shift to electric cars and changes to vehicle architecture, Panasonic said. The automotive unit makes cockpit and electronics systems. It is separate from Panasonic's energy unit that makes batteries for electric vehicles, including those from Tesla (TSLA.O).

Persons: Toru Hanai, Daniel Leussink, David Dolan, Christopher Cushing Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Rights, Japan's Panasonic Holdings, U.S, Apollo Global Management, Apollo, Panasonic, Thomson Locations: JAPAN, Chiba, Japan, Tokyo

TOKYO, Nov 17 (Reuters) - Warren Buffett's vote of confidence in Japanese trading houses is helping Mitsubishi Corp (8058.T) overcome long-held investor wariness about its complex global business that covers everything from sausages to natural gas, a top executive said. "Until fairly recently, being an industrial conglomerate had negative connotations," Kobayashi said in an interview. Appointed as the trading house's first chief stakeholder engagement officer in April, Kobayashi is now focused on wooing investors who focus on growth, not just value. Berkshire first announced roughly 5% stakes in August 2020, with Buffett saying the trading houses "have many joint ventures throughout the world and are likely to have more". read moreStill, Mitsubishi is trading at a price-to-book ratio of just a little over 1, or at almost no premium to the value of its assets.

Persons: Warren Buffett's, wariness, Berkshire Hathaway, Kenji Kobayashi, Kobayashi, Itochu, outperforming, Buffett, Benjamin Graham, that's, Anton Bridge, Miho Uranaka, David Dolan, Miral Organizations: Mitsubishi Corp, Berkshire, Reuters, Mitsubishi, Mitsui, Sumitomo, Tokyo Stock Exchange, Nikkei, Columbia University, Thomson Locations: TOKYO, Berkshire, Japan

☆ Madagascar's president seeks re-election amid protests
▼ + stars: | 2023-11-13 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsMadagascar's president seeks re-election amid protestsPostedMadagascar's President Andry Rajoelina held his final campaign rally on Sunday (November 12) ahead of an election on Thursday (November 16) - but rivals are calling for the vote to be postponed and say Rajoelina should be disqualified. David Doyle has more.

Persons: Andry Rajoelina, David Doyle

☆ Honda posts 31% Q2 operating profit jump, raises full-year forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

People are reflected on a Honda Motor car outside the company's headquarters in Tokyo, Japan February 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsCompanies Honda Motor Co Ltd FollowTOKYO, Nov 9 (Reuters) - Japan's Honda Motor (7267.T) posted a 31% increase in operating profit for the September quarter on Thursday, lifted by stronger sales in the United States and a weaker yen, and raised its full-year forecast by 20%. Japan's second-biggest automaker by sales said operating profit totalled 302.1 billion yen ($2.0 billion) in the three months to Sept. 30, compared with an average 345.3 billion yen estimate in a poll of 10 analysts by LSEG. Honda raised its full-year operating profit forecast to 1.2 trillion yen from the 1 trillion yen it had expected, largely in line with the 1.237 trillion yen average forecast from 21 analysts. ($1 = 151.0600 yen)Reporting by Daniel Leussink; Editing by David Dolan and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Toru Hanai, Daniel Leussink, David Dolan, Gerry Doyle Organizations: Honda Motor, REUTERS, Honda, LSEG, Thomson Locations: Tokyo, Japan, United States, China

☆ SoftBank books $5.2 bln quarterly loss as investments and weak yen bite
▼ + stars: | 2023-11-09 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

The results underscore the volatility and risk inherent in founder Masayoshi Son's strategy of betting big on often risky start-ups. The Japanese conglomerate said it was squeezed by weakness in the yen that drove up costs on its dollar-denominated debt. SoftBank reported a 789 billion yen ($5.2 billion) net loss for the three months to end-September, compared with a 3.01 trillion yen profit a year earlier when it sold down a large portion of its stake in Chinese e-commerce giant Alibaba (9988.HK). Its Vision Fund investment unit, meanwhile, booked an investment profit of 21.4 billion yen in the latest quarter, after posting a 160 billion yen profit three months earlier. SoftBank said it exchanged unsecured WeWork notes into shares and convertible bonds and reflected a 21.6 billion yen loss from the transaction in the first half.

Persons: Thomas Peter, Masayoshi, SoftBank, Anton Bridge, Miyoung Kim, David Dolan, Tom Hogue Organizations: REUTERS, Rights, SoftBank, HK, Vision Fund, Thomson Locations: Tokyo, WeWork

☆ Nissan more than doubles Q2 operating profit, beating estimates
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A visitor is seen at Nissan Motor Corp.'s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 9 (Reuters) - Japan's Nissan Motor (7201.T) reported on Thursday it had more than doubled its operating profit for the July-September quarter, beating analysts' estimates, boosted by steady sales in North America and Japan and a weaker yen. The company reported a 127% rise in July-September operating profit to 208.1 billion yen ($1.38 billion), compared with an average estimate of 155.9 billion yen in a poll of 10 analysts by LSEG and a 91.7 billion yen operating profit in the same period a year earlier. The automaker raised its full-year forecast by nearly 13% to 620 billion yen due to a favourable impact of a weak yen and improvements in global retail sales, excluding China. The forecast compared to a 570.1 billion yen average profit forecast in a poll of 19 analysts by Refinitiv.

Persons: Issei Kato, Daniel Leussink, David Dolan, Muralikumar Organizations: Nissan Motor Corp, REUTERS, Rights, LSEG, Refinitiv, Nissan, Renault, Thomson Locations: Tokyo, Japan, North America, China

☆ US stocks are on their longest winning streak in 2 years – but the Fed and an earnings slowdown still linger as threats, analysts warn
▼ + stars: | 2023-11-08 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The S&P 500 and the Nasdaq Composite indices have notched their longest winning streaks in two years. Some on Wall Street think the rally can last – but others are still fretting about a potential correction. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The benchmark S&P 500 gauge has climbed 6% since October 27, while the tech-heavy Nasdaq Composite is up 8% over the same period. AdvertisementAdvertisementThe rally has been a welcome development for investors after a rough couple of months for stocks.

Persons: Stocks, —, Bilal Hafeez, Morgan Stanley's, Mike Wilson –, –, David Donabedian Organizations: Nasdaq, Service, Federal Reserve, CIBC Private Wealth

☆ SoftBank makes another bet on WeWork, hoping landlords will too
▼ + stars: | 2023-11-07 | by ( Anton Bridge | ) www.reuters.com time to read: +3 min

WeWork seeks bankruptcy protectionLIMITED EXPOSUREWeWork's dramatic fall followed lavish predictions about its prospects from SoftBank founder Masayoshi Son, despite immense losses as it grew. Still, it had a credit support deal with the company worth $1.1 billion as of end-June. MST Financial analyst David Gibson said the credit support was significant, but it was not clear how much of it had been withdrawn. SoftBank declined to comment on the credit support. SoftBank owns around 71% of WeWork, which it privately valued at $47 billion at its peak but is now valued at just $44 million.

Persons: SoftBank, Adam Neumann, Neumann, WeWork, Masayoshi Son, Son, David Gibson, Anton Bridge, David Dolan, Miyoung Kim, Mark Potter Organizations: Thomson Locations: TOKYO

☆ Nintendo hikes profit forecast as Switch battles on
▼ + stars: | 2023-11-07 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

An attendee uses a Nintendo Switch game console while playing a video game at the Paris Games Week (PGW), a trade fair for video games in Paris, France, November 5, 2023. Nintendo sold 6.84 million Switch units in the first six months of the financial year, a slight increase on the 6.68 million units it sold in the same period last year. Reuters GraphicsNintendo's broad pop culture appeal has also been underscored by the success of a Super Mario Bros. movie. Nintendo maintained its full-year forecast for the console of 15 million units, which would be a 16.5% decline on a year earlier. Nintendo's line-up for the critical year-end shopping season will likely also be bolstered by some new additions including "Super Mario RPG", which launches on Nov. 17.

Persons: Claudia Greco, Zelda, Mario, Shuntaro Furukawa, Sam Nussey, David Dolan, Christopher Cushing Organizations: Nintendo, Paris Games, REUTERS, Reuters, Mario Bros, Thomson Locations: Paris, France, TOKYO, Kyoto

The world's top-selling automaker reported a record operating profit of 1.44 trillion yen ($9.5 billion) in the three months to end-September, a 155.6% increase from a year earlier. It lifted its full-year profit forecast to 4.5 trillion yen from 3 trillion yen, largely due to favourable effects from foreign exchange rates. Toyota expects the weaker yen to account for 1.18 trillion yen of the revision to the full-year profit. The new projection compared to analysts' average forecast of 4.0 trillion yen. Toyota assumed an average rate of 141 yen per dollar in its calculations for the 2023/24 financial year compared to 125 yen previously.

Persons: Issei Kato, Yoichi Miyazaki, Daniel Leussink, David Dolan, Muralikumar Organizations: Toyota, Japan, REUTERS, Nissan, Honda, EVs, Nikkei, Thomson Locations: Tokyo, Japan, TOKYO, United States, Asia, China, Southeast, Thailand, North Carolina

☆ Taiwan's Powerchip chooses northern Japan for planned $5.4 bln fab
▼ + stars: | 2023-10-31 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

The logo of Powerchip Semiconductor Manufacturing Corp's Japanese business in pictured in Tokyo, Japan July 21 2023. "Japan has to have its own supply chain," Powerchip founder and Chairman Frank Huang told reporters. Powerchip said it aimed to manufacture micro-controllers and power chips, which are needed for power management in electric vehicles, along with chips for artificial intelligence. The second phase, planned for two years later, aims to introduce 28-nanometre technology with targeted monthly output of 40,000 wafers. They aim to cut costs by making reference to plans for a Powerchip fab being built in Taiwan, and discussions are already taking place with construction firms.

Persons: Sam Nussey, Taiwan's TSMC, Frank Huang, Powerchip, David Dolan, Jamie Freed Organizations: Powerchip Semiconductor Manufacturing, REUTERS, Rights, Powerchip Semiconductor Manufacturing Corp, SBI Holdings, Reuters, Powerchip, SBI, Thomson Locations: Tokyo, Japan, Miyagi, Taiwan, Sendai, Hokkaido, Kyushu, chipmaking

☆ Western Digital and Japan's Kioxia call off merger talks - Nikkei
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ann/File photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Western Digital Corp (WDC.O) and Japan's Kioxia Holdings have broken off talks to create one of the world's biggest chipmakers, the Nikkei newspaper reported on Thursday. The companies were also unable to agree on conditions with top Kioxia shareholder Bain Capital, the report added. Western Digital, Kioxia and Bain Capital did not immediately respond to Reuters' requests for comment. Shares of Western Digital sank 12% on the news. Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues, including valuation discrepancies.

Persons: David Dolan, Aditya Soni, Juby Babu, Chavi Mehta, Shweta Agarwal Organizations: Taipei, REUTERS, Rights, Western Digital Corp, Japan's Kioxia Holdings, Nikkei, SK Hynix, Bain Capital, Samsung Electronics, South Korean SK Hynix, Kioxia, Western Digital, Western, Thomson Locations: Taipei, Taiwan, U.S, Kioxia, Bengaluru

☆ Japan's Denso to invest $3.3 billion to bulk up chips business
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Japanese automotive supplier Denso (6902.T) will invest about 500 billion yen ($3.3 billion) in semiconductors by 2030 as aims to triple the scale of its chips business by 2035 from current levels, the company's president said on Thursday. Thus, we will forge strategic partnerships with various companies," Denso President Shinnosuke Hayashi said at the Japan Mobility Show, which officially opened on Thursday. The company will hire new employees to specialise in electrification and software and also move staff from mature businesses to electrification and software, he said. ($1 = 150.1900 yen)Reporting by Daniel Leussink; Editing by David Dolan, Jamie Freed and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Shinnosuke Hayashi, Daniel Leussink, David Dolan, Jamie Freed, Edwina Gibbs Organizations: REUTERS, Rights, Denso, Toyota, Taiwan Semiconductor Manufacturing, Sony, Japan, Thomson Locations: Japan

☆ Toyota aims to put 1,000 km-range Lexus EV on the road by 2026
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Oct 25 (Reuters) - Toyota unveiled a Lexus concept car with a roughly 1,000 kilometre range on Wednesday that it aims to roll out by 2026, part of the Japanese automaker's strategic pivot to EVs reliant on advanced battery technology. The LF-ZC concept car, which debuted at the Japan Mobility Show, uses "prismatic, high-performance" batteries that achieve around twice the range of conventional EVs - or around 1,000 kilometres (620 miles). The low-sitting LF-ZC sports an expansive cockpit and uses advanced AI technology that Toyota has dubbed "Butler". The AI system is able to identify preferences that drivers may not be aware of themselves, Toyota said. Toyota has committed to having battery EVs account for 100% of global sales of the luxury Lexus brand by 2035.

Persons: BEV, Toyota Takero Kato, Simon Humphries, Issei Kato, Butler, Maki Shiraki, Daniel Leussink, David Dolan, David Holmes Organizations: Toyota, Lexus, Japan, REUTERS, Rights, Thomson Locations: Tokyo, Japan

☆ Subaru CEO: working with suppliers to lower procurement risks of EV battery materials
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

[1/4] Representative Director, President and CEO at Subaru Atsushi Osaki unveils the Sport Mobility Concept and Air Mobility Concept vehicles during a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Oct 25 (Reuters) - Japan's Subaru (7270.T) is working with suppliers to decrease risks related to procuring materials used in electric-vehicle batteries, it chief executive said on Wednesday, as automakers grapple with China's move to curb exports of graphite. We want to procure resources while considering various risk hedges," Chief Executive Atsushi Osaki told reporters on the sidelines of the Japan Mobility Show, which opened to the press on Wednesday, a day ahead of its official start. "We are working with suppliers to come up with measures to deal" with the risks, he said. Reporting by Maki Shiraki and Daniel Leussink; Writing by David Dolan; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Atsushi Osaki, Issei Kato, Subaru, China's, Maki Shiraki, Daniel Leussink, David Dolan, Jacqueline Wong Organizations: Mobility, Japan, REUTERS, Rights, Thomson Locations: Tokyo, Japan, China

☆ Sony Honda Mobility could procure EV batteries from US, president says
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

[1/4] Sony Honda Mobility's President Izumi Kawanishi poses during the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Oct 25 (Reuters) - Sony (6758.T) and Honda's (7267.T) automotive joint venture could procure batteries for its new Afeela electric vehicle from the United States where Honda is building a factory, the president of Sony Honda Mobility told Reuters on Wednesday. Izumi Kawanishi made the comment on the sidelines of the Japan Mobility Show in Tokyo, which opened to the press a day ahead of its official opening. Reporting by Daniel Leussink; editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Izumi Kawanishi, Issei Kato, Daniel Leussink, David Dolan Organizations: Sony Honda, Japan, REUTERS, Rights, Sony, Honda, Sony Honda Mobility, Reuters, Thomson Locations: Tokyo, Japan, United States

Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. The Japan Mobility Show, which opens on Thursday, comes at a critical moment for the domestic industry. Toyota (7203.T), the world's top-selling automaker, this year announced a strategic pivot to battery EVs, including plans to commercialise advanced batteries and adopt die-casting technology pioneered by Tesla (TSLA.O). Toyota's shift has helped silence criticism that it was too slow to embrace battery EVs. In contrast to the darkening outlook in Japan, data from the ASEAN Automotive Federation shows that the auto market in Southeast Asia has been growing.

Persons: Kim Kyung, Koji Endo, Daniel Leussink, David Dolan, Jamie Freed Organizations: Toyota, REUTERS, Companies, Japan, Japan Mobility, Tesla, Subaru, Mazda, Mitsubishi Motors, BYD, HK, BMW, Honda, SBI Securities, Nissan, Mitsubishi, Japan Automobile Manufacturers Association, ASEAN Automotive Federation, EV upstarts, Thomson Locations: Tokyo, Japan, TOKYO, China, Southeast Asia, Thailand

The announcement sent shares of Daiichi Sankyo (4568.T) up 12% in early trading in Tokyo on Friday, raising expectations for its cancer drug pipeline. The companies will jointly and potentially commercialise the drug candidates worldwide, except in Japan where Daiichi Sankyo will maintain exclusive rights, they said. Merck will pay Daiichi Sankyo $4 billion upfront in addition to $1.5 billion in continuation payments over the next two years. Merck may make additional payments of up to $16.5 billion contingent on future sales milestones, or $5.5 billion for each product. Daiichi Sankyo has six ADC candidates in its pipeline, including two being jointly developed with AstraZeneca (AZN.L).

Persons: Andrew Kelly, Drugmaker Merck, patritumab, ifinatamab, raludotatug, Merck, David Dolan, Kanjyik Ghosh, Miyoung Kim, Jamie Freed Organizations: Merck & Co, REUTERS, Merck, AstraZeneca, Thomson Locations: Kenilworth , New Jersey, U.S, TOKYO, Daiichi, Tokyo, Japan, Bengaluru

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