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REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 17 (Reuters) - Mitsubishi Corp (8058.T) is considering bidding for Fujitsu's (6702.T) chip packaging unit Shinko Electric Industries (6967.T), two sources said, as Japan's top trading house weighs an entry into semiconductor manufacturing. Fujitsu has put its 50% stake in Shinko Electric, worth around $2.6 billion at current market prices, on sale, other sources said. A Mitsubishi spokesperson said the trading house had set up a division in June dealing with chips and materials that was looking into various opportunities. A Shinko spokesperson declined to comment. Still, semiconductor packaging remains an area of strength for Japan with Shinko, Ibiden (4062.T) and Toppan Holdings (7911.T) all major players in the global chip supply chain.

Persons: Kim Kyung, Warren Buffett's Berkshire Hathaway, Makiko Yamazaki, Maki Shiraki, Miho Uranaka, David Dolan, Muralikumar Organizations: Mitsubishi Corp, REUTERS, Rights, Electric Industries, Mitsubishi, Fujitsu, Bain Capital, KKR, Apollo Global Management, Japan Investment Corp, Intel, Devices, Toppan Holdings, Taiwan Semiconductor Manufacturing, Samsung Electronics, Reuters, Thomson Locations: Tokyo, Japan, Kyushu, Chitose . Japan

☆ In EV battle, Toyota bets on new technology and old-school thinking
▼ + stars: | 2023-09-18 | by ( David Dolan | ) www.reuters.com time to read: +5 min

He pointed to engineering and technology expertise anchored in "TPS", shorthand for the Toyota Production System. Toyota revolutionised modern manufacturing with its system of lean production, just-in-time delivery and "kanban" workflow organisation. ASSEMBLY LINE, GIGACASTINGOne innovation being emphasised by Toyota is its self-propelled production lines, where EVs are guided by sensors through the assembly line. Toyota also showed off a prototype of the die-casting technology known as "gigacasting" pioneered by Tesla that produces aluminium parts far bigger than anything used before in auto manufacturing. Like Tesla, Toyota says it will produce EVs in modular sections, reducing parts.

Persons: EVs, Goldman Sachs, Kazuaki Shingo, Tesla, Koji Sato, David Dolan, Jamie Freed Organizations: Toyota, TOYOTA CITY, TPS, System, United Auto Workers, Tesla, Thomson Locations: Japan, gigacasting, Toyota City, Motomachi

☆ Feeling the heat: 44% of Japan firms see earnings hit from extreme weather - Reuters poll
▼ + stars: | 2023-09-13 | by ( David Dolan | ) www.reuters.com time to read: +2 min

REUTERS/Satoshi Sugiyama/File Photo Acquire Licensing RightsTOKYO, Sept 14 (Reuters) - Some 44% of Japanese companies see extreme weather events around the globe hitting earnings, a Reuters survey showed, highlighting the impact of scorching heat waves and torrential rains on firms in the world's third-largest economy. Disaster-prone Japan is no stranger to extreme weather events, including typhoons, floods and blistering heat. "Infrastructure is likely to be disrupted due to extreme weather conditions, which could result in emergency spending and lower productivity," wrote a manager at a company in the transport sector. The monthly Reuters Corporate Survey of 502 large and medium-sized non-financial Japanese firms, in which 248 responded, showed a majority of non-manufacturers had already felt or expected to feel the effects of extreme weather on their earnings. Flooding has been a particular headache for Japanese companies.

Persons: Satoshi Sugiyama, Japan Inc's, Fumio, David Dolan, Jacqueline Wong Organizations: Mitsubishi Motor, Rights, Reuters Corporate Survey, Reuters, Nikkei Research, Investment, Thomson Locations: Kurashiki, Japan

☆ 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

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. Toyota, which restarted operations at its Japanese assembly plants on Wednesday, has seen production recovering this year. The company said its global sales had risen 8% in July from the same month a year earlier to a record 859,506 vehicles. It also reported a 15% increase in global production in that month. Toyota's global production is likely to reach around 10.2 million vehicles this year, topping 10 million for the first time, Nikkei reported late on Wednesday.

Persons: David, Dee, Delgado, Maki Shiraki, Daniel Leussink, David Dolan, Christopher Cushing, David Holmes Organizations: New York, REUTERS, Rights, Toyota Motor Corp, Toyota, Lexus, Nikkei, Thomson Locations: Manhattan , New York City, U.S, Japan, China, United States, Europe

☆ Toyota to halt operations at all Japan assembly plants due to system failure
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Employees of Toyota Motor Corp. work on the assembly line of Mirai fuel cell vehicle (FCV) at the company's Motomachi plant in Toyota, Aichi prefecture, Japan May 17, 2018. Toyota was looking into the cause of the problem, a spokesperson said, adding it was "likely not due to a cyberattack". Toyota suspended operations at 12 of its plants from Tuesday morning, with two remaining online. Production in Japan was up 29% in the first half of the year, the first such increase in two years. Toyota's operations ground to a halt last year when one of its suppliers was hit by a cyberattack.

Persons: Issei Kato, Satoshi Sugiyama, Miyoung Kim, Kevin Krolicki, David Dolan, Christopher Cushing Organizations: Toyota Motor Corp, REUTERS, Rights, Toyota, Daihatsu, Hino, Pacific, Thomson Locations: Toyota, Aichi prefecture, Japan, China, Tokyo

☆ Toyota to restart Japan production on Wednesday after system failure
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Toyota suspends production at all 14 domestic assembly plantsSystem failure preventing Toyota from ordering partsCause under investigation, not likely to be a cyberattackPlants make up third of Toyota world output -Reuters calculationStock closes down 0.2%TOKYO, Aug 29 (Reuters) - Toyota Motor (7203.T) will restart operations at its assembly plants in Japan on Wednesday, after a production system malfunction brought domestic output to a halt at the world's biggest-selling automaker. The plants together account for about a third of the automaker's global production, Reuters calculations showed. Toyota's domestic production had been on the rebound after a series of output cuts it blamed on semiconductor shortages. Its Japan output averaged about 13,500 vehicles daily in the first half of the year, Reuters calculations showed. Toyota is a pioneer of just-in-time inventory management, which keeps down costs but means supply chain snarls put production at risk.

Persons: Seiji Sugiura, Satoshi Sugiyama, Miyoung Kim, Kevin Krolicki, Daniel Leussink, David Dolan, Christopher Cushing, Mark Potter Organizations: Toyota, Daihatsu, Hino, Kyodo, REUTERS Acquire, Analysts, Tokai Tokyo Research Institute, Toyota Industries, Thomson Locations: TOKYO, Japan, , Toyota, Aichi Prefecture, China

☆ Explainer: Japan's moon landing: When is it and why is it important?
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +4 min

Japan aims to launch the Smart Lander for Investigating Moon (SLIM) into space by mid-September with a lunar landing seen starting as early as January 2024. Japan would become the fifth country to achieve a moon landing after the United States, the former USSR, China and now India. The success of India's Chandrayaan-3 moon exploration mission this month contrasts with recent setbacks in Japan's space missions. WHAT IS JAPAN'S LUNAR MISSION? WHY IS JAPAN'S SPACE PROGRAMME IMPORTANT?

Persons: India's, SLIM, Kantaro Komiya, Maki Shiraki, David Dolan, Nick Macfie Organizations: Smart, Japan Aerospace Exploration Agency, JAXA, Soviet Union, Epsilon, Mitsubishi Heavy Industries, Thomson Locations: TOKYO, Japan, United States, USSR, China, India, U.S, Russia

Nissan late last month upgraded its full-year operating profit forecast, raising it by 30 billion yen ($208 million) to 550 billion yen. About 20 billion yen of that came from the currency, CFO Stephen Ma told a briefing. At smaller Subaru (7270.T), a move of one yen against the dollar has a 20 billion yen impact on operating profit, CFO Katsuyuki Mizuma said earlier this month. On Wednesday, a Honda official said its April-June operating profit came in tens of billions of yen higher than expected, with the weak yen accounting for about half of that. It is unclear how long the weak yen will last.

Persons: Aly, Satoru Aoyama, Stephen Ma, Katsuyuki Mizuma, Eisuke Sakakibara, Mizuma, Daniel Leussink, David Dolan, Toby Chopra Organizations: Auto, REUTERS, Toyota, Honda, Nissan, Fitch, Japan, U.S . Federal Reserve, Subaru, Lexus, Reuters, Thomson Locations: Auto Shanghai, Shanghai, China, Asia, Europe, CHINA

☆ Japan's struggling Rakuten to combine credit card and mobile payments business
▼ + stars: | 2023-08-10 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set the struggling e-commerce company up to eventually list the card business. It has turned to listing some of its units - including its popular internet banking business, Rakuten Bank (5838.T) - to generate cash. The company said on Thursday it plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit. Rakuten Card will become the "driving force" behind its integrated payments business and may form strategic partnerships with other companies as well as "raising its own capital as necessary", Rakuten said in a statement. Users accumulate points by using Rakuten credit cards, shopping and insurance services.

Persons: Sam Nussey TOKYO, Rakuten, Tareq Amin, Anton Bridge, Jamie Freed, David Dolan, Gerry Doyle Organizations: REUTERS, Rakuten Bank, Rakuten, Public, NHK, Refinitiv, Thomson Locations: Rakuten, Tokyo, Japan

☆ Honda posts 78% jump in Q1 operating profit
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Honda logo is displayed at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File PhotoCompanies Honda Motor Co Ltd FollowTOKYO, Aug 9 (Reuters) - Japan's Honda Motor (7267.T) reported a 78% rise in quarterly profit on Wednesday, boosted by both increased sales, especially in the North American market, and a weaker yen. Japan's second-biggest automaker by sales said operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion yen estimate in a poll of 10 analysts by Refinitiv. That compared with a 222.2 billion yen profit in the same period last year. Honda maintained its forecast for a 1.0 trillion yen operating profit for the current year, lower than the 1.117 trillion yen average forecast from 22 analysts.

Persons: Athit, Japan's, Daniel Leussink, David Dolan, Chang, Ran Kim Organizations: REUTERS, Honda Motor, Honda, Refinitiv, Thomson Locations: Bangkok, Thailand, American

☆ Apple and Samsung to invest in SoftBank's Arm at IPO -Nikkei
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoTOKYO, Aug 8 (Reuters) - Apple (AAPL.O) and Samsung Electronics (005930.KS) will invest in SoftBank Group (9984.T)-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan's Nikkei newspaper reported on Tuesday. Reuters reported in June that Arm was in talks with some ten companies - including Apple, Samsung and Intel (INTC.O) - with the aim of bringing on one or more anchor investors in the offering. Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia (NVDA.O) as an anchor investor for the New York listing. Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. Apple, Nvidia and Intel did not immediately respond to a Reuters' request for comment.

Persons: Dado Ruvic, SoftBank, Masayoshi, Anton Bridge, Elaine Lies, Joyce Lee, Akash Sriram, Louise Heavens, David Dolan, Miyoung Kim, Sharon Singleton Organizations: REUTERS, Samsung Electronics, SoftBank, Japan's Nikkei, Reuters, Apple, Samsung, Intel, Nvidia, New, Nikkei, U.S . Securities, Exchange Commission, Vision Fund, Thomson Locations: KS, New York, Tokyo, Seoul

☆ Toyota nearly doubles Q1 profit, China remains challenging
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

The world's top-selling automaker said operating profit for the three months through June totalled 1.12 trillion yen ($7.85 billion), an increase of 94% from a year earlier, beating the average 945.22 billion yen profit estimate in a poll of 10 analysts by Refinitiv. Last year's operating profit was 578.66 billion yen in the first quarter. Toyota maintained its forecast for a 3.0 trillion yen profit for the current year, as the conditions it faced had not changed greatly from three months earlier. That forecast compared to a 3.6 trillion yen average forecast from 23 analysts. In North America, another key market, Toyota said it had benefited from pent-up demand among consumers as the impact of a post-pandemic chip shortage wanes.

Persons: Daniel Leussink, David Dolan, Miral Organizations: Toyota, Refinitiv, Lexus, Thomson Locations: TOKYO, China, North America, Japan

☆ Toyota to boost EV development and technology in China
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 31 (Reuters) - Toyota (7203.T) will strengthen its development of electric vehicle technology in China, the automaker said on Monday, as it looks to catch up with increasingly tough domestic competition in the world's largest auto market. The move is the latest from the world's top selling carmaker that shows a sharper pivot to electric vehicles. It recently detailed an ambitious new EV strategy that includes an overhaul of its supply chain and the development of long-range batteries. Toyota said on Monday it would accelerate powertrain development with suppliers Denso (6902.T) and Aisin (7259.T) as well as local design and development of "smart cockpits" that meet the needs of the Chinese market. It will strengthen development of battery-powered vehicles, plug-in hybrids, hybrids and fuel cell cars in China in order to achieve carbon neutrality through a "multi-pathway"-based approach, it said.

Persons: Daniel Leussink, David Dolan Organizations: Toyota, Thomson Locations: TOKYO, China

☆ Panasonic Q1 profit rises 42%, in line with market expectations
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

TOKYO, July 31 (Reuters) - Japan's Panasonic Holdings (6752.T) on Monday posted a 42% rise in first-quarter profit to 90.37 billion yen ($636 million), largely matching analysts' estimates. Operating profit for the three months to end-June compared with an average estimate of 91.18 billion yen in a poll of 11 analysts by Refinitiv and a 63.7 billion yen operating profit in the same period a year earlier. ($1 = 142.0400 yen)Reporting by Daniel Leussink; editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Leussink, David Dolan Organizations: Japan's Panasonic Holdings, Refinitiv, Thomson Locations: TOKYO

☆ Panasonic Q1 profit jumps, maintains FY forecast
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

Panasonic, whose energy unit makes batteries for Tesla Inc (TSLA.O), said operating profit came to 90.37 billion yen ($637 million) in the three months to end-June, versus the 91.18 billion yen average forecast in a poll of 11 analysts by Refinitiv. Its battery unit, Panasonic Energy, and Subaru (7270.T) said they have started talks to establish a battery supply partnership for electric vehicles that would supply the Japanese automaker with cylindrical lithium-ion batteries. Panasonic, whose products span consumer electronics and delivery robots to sensing cameras and self-checkout systems, maintained its full-year forecast at 430 billion yen. That compared to a 413.96 billion yen average profit forecast in a poll of 20 analysts by Refinitiv. ($1 = 141.9500 yen)Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Leussink, David Dolan Organizations: Japan's Panasonic Holdings, Panasonic, Tesla Inc, Refinitiv, Panasonic Energy, Subaru, Reuters, Thomson Locations: TOKYO

For Nissan, that means contending with an increasingly grim outlook for foreign automakers in China, the world's biggest car market. AMPERE INVESTMENTNissan said it would invest up to 600 million euros ($663 million) in Renault's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing. The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said. Nissan had flagged in February that it would invest a maximum 15% in Ampere, but the exact size of its stake remained unclear.

Persons: Gonzalo Fuentes, Makoto Uchida, AlixPartners, Nissan, Ampere, Gilles Guillame, Daniel Leussink, David Dolan, Miral Organizations: Renault, Viva Technology, Porte de, REUTERS, Investment, Nissan, Reuters, North America, Dongfeng Motor Group, Ampere, Qualcomm, Mitsubishi Motors, Thomson Locations: Porte, Paris, France, TOKYO, PARIS, Renault's, China, Japan, North, U.S

[1/2] The logo of Osaka Organic Chemical Industry Ltd. is pictured in Tokyo, Japan July 25 2023. REUTERS/Sam NusseyTOKYO, July 26 (Reuters) - Osaka Organic Chemical Industry (4187.T), a Japanese manufacturer of high-end chemicals used in chip production, is betting on the materials market for extreme ultraviolet (EUV) lithography, a method for making advanced chips. Little known even in its home country, Osaka Organic has carved out a critical niche in the semiconductor industry by supplying companies that make photoresists, the light-sensitive chemicals used to etch patterns on wafers. "I am confident that we can compete," Masayuki Ando, Osaka Organic's president, told Reuters in an interview, referring to the EUV resist market. In many ways, Osaka Organic is emblematic of Japan's chip-making industry today.

Persons: Sam Nussey, Masayuki Ando, Osaka, Ando, Yuta Nishiyama, Miho Uranaka, David Dolan, Miral Organizations: Osaka Organic Chemical Industry Ltd, REUTERS, Osaka Organic Chemical Industry, Reuters, Citigroup, Thomson Locations: Osaka, Tokyo, Japan, Sam Nussey TOKYO, photoresists, South

Nissan has been working to define a lower threshold for its pledged, strategic investment in Renault's electric vehicle unit, Ampere, below the 15% maximum target it announced in February, two of the people said. The automakers announced a framework agreement in February and had aimed to finalise the deal as early as March. Under the framework, the Japanese automaker would take the as much as 15% of Ampere and Renault would reduce its 43% stake in Nissan. "Nissan and Renault are engaged in constructive and ongoing negotiations. The board has not heard the final report on the surveillance claim, according to the three people.

Persons: Ampere, Makoto Uchida, Ashwani Gupta, Gupta, Nissan's, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan Organizations: Nissan, Renault, Reuters, Thomson Locations: TOKYO

Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan. The delay shows how the latest tension at the top of the Japanese automaker has complicated a drive to bring the decades-long relationship with Renault to a more equal footing. After the automaker was pitched into turmoil by the ouster of former Chairman Carlos Ghosn, Nissan executives sought to rebalance the alliance he built. We will make a statement in due course when the agreements are concluded," the Japanese automaker said in a statement. Nissan and Renault's junior partner, Mitsubishi Motors, has also indicated it may invest in the company.

Persons: Ampere, Carlos Ghosn, Makoto Uchida, Ashwani Gupta, Gupta, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan Organizations: Nissan, Renault, Reuters, Mitsubishi Motors, Qualcomm, Mitsubishi, Thomson Locations: TOKYO, U.S

Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan. That timeline was extended when senior Nissan executives and some directors challenged detailed provisions of deal, citing the need to better protect Nissan's intellectual property, Reuters has reported. Nissan executives sought to rebalance the alliance built by former Chairman Carlos Ghosn after his ouster sent the automaker into turmoil. While the size of the investment ultimately hinges on the value of Ampere, Nissan is likely to take less than 10%, one of them said. By closing out the restructured Renault deal, Nissan executives have the opportunity to pivot to other challenges, including a medium-term strategy update and a change in approach to China, where Nissan's sales, and those of other global automakers, are in decline.

Persons: Ampere, Carlos Ghosn, Makoto Uchida, Ashwani Gupta, Gupta, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan, Christian Schmollinger, Sharon Singleton Organizations: Renault, Nissan finalise, Nissan, TOKYO, Reuters, Mitsubishi Motors, Qualcomm, Mitsubishi, Thomson Locations: U.S, China

☆ Nissan to invest some $725 mln in Renault's EV unit, Yomiuri says
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 14 (Reuters) - Nissan Motor (7201.T) is likely to invest around 100 billion yen ($725 million) in Renault's (RENA.PA) new electric vehicle unit, the Yomiuri Shimbun said on Friday, potentially clearing a hurdle in drawn-out talks to reshape their automaking alliance. The Japanese automaker on Thursday settled on the terms for a contract to overhaul its partnership with Renault and agreed with its French partner on the investment amount in the EV unit, Ampere, the Yomiuri said. A Nissan spokesperson said discussions about the contract, including the investment amount, were not yet finalised. That would be short of the 15% maximum Nissan set in February for the investment. ($1 = 138.0200 yen)Reporting by Daniel Leussink and Elaine Lies; Editing by Chris Reese and David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ampere, Daniel Leussink, Elaine Lies, Chris Reese, David Dolan Organizations: Nissan, Yomiuri Shimbun, Renault, EV, Yomiuri, Mitsubishi Motors, Thomson Locations: TOKYO, Renault's

[1/3] Pedestrians are reflected on a window of a commercial building at closing hour at a financial district in Tokyo, Japan, November 22, 2017. The number of activist funds has trebled over the last five years to 69, according to data from IR Japan. Joining a hedge fund where you might lose your job tomorrow because you lost money or didn't raise funds is a very foreign world for such workers." "Many global hedge funds are opening up Tokyo offices and hiring talent" to support a growing investment focus, said Masa Yanagisawa, head of prime services Japan at Goldman Sachs in Tokyo. Hong Kong-headquartered activist hedge fund Oasis Management has hired people in Japan this year, including a former senior regulatory official it appointed to its advisory council.

Persons: Kim Kyung, Warren Buffett, Stefan Nilsson, Masa Yanagisawa, Goldman Sachs, Seth Fischer, FinCity.Tokyo, Keiichi Aritomo, Toby Bartlett, Goldman's Yanagisawa, UBP, Cedric Le Berre, Xie Yu, Makiko Yamazaki, Scott Murdoch, David Dolan, Lincoln Organizations: REUTERS, Global, Nikkei, Funds, Oasis Management, Oasis, Citadel, Citadel Securities, Nasdaq, May, Angel, Asset Management, Thomson Locations: Tokyo, Japan, HONG KONG, TOKYO, Hong Kong, Singapore, Swiss, China, Taiwan, Sydney

The timing of the listing was still unclear as money-losing PayPay needs to first demonstrate a clear path to profitability, the source said. SoftBank has previously set a PayPay listing as a goal, with one executive saying in November it was worth just under 1 trillion yen ($7.17 billion). Representatives for PayPay and SoftBank Group's (9984.T) domestic telecoms business, SoftBank Corp (9434.T), said they would not comment on speculation. PayPay is owned by SoftBank Corp, its internet business, Z Holdings (4689.T), and the group's second Vision Fund. PayPay booked a loss before interest, taxes, depreciation and amortisation of 11.9 billion yen in the year ended March, compared to a loss of 43.2 billion yen a year earlier.

Persons: SoftBank, SoftBank Group's, Kirk Boodry, Son, PayPay, Sam Nussey, Miho Uranaka, Scott Murdoch, David Dolan, Muralikumar Organizations: Companies, Z Holdings, PayPay, SoftBank Corp, Vision Fund, SoftBank, Syla Technologies, Rakuten Bank, SBI Sumishin, Bank, Astris Advisory, Mobile Marketing, Cambridge, Thomson Locations: . New York, Tokyo, New York, U.S, Astris Advisory Japan, Japan, England

☆ Panasonic needs four more EV battery plants, executive says
▼ + stars: | 2023-07-03 | by ( Miho Uranaka | ) www.reuters.com time to read: +3 min

The comments by Shoichiro Watanabe of Panasonic Energy are the Tesla (TSLA.O) supplier's first clear indication of the number of additional factories it will need. "We will need to build around another four factories," Watanabe, the company's chief technology officer, said in an interview at its headquarters in Osaka on Friday. He signalled an openness to potential joint ventures for EV battery production, with automaker Mazda Motor (7261.T) among others, citing the changing nature of such projects in which investment is no longer shouldered by battery makers alone. Panasonic will not rule out the possibility of a joint battery venture with Mazda as part of a supply partnership the companies are working out, Watanabe said. They aim to sign off on it this year, and expect to supply batteries after 2025.

Persons: Shoichiro Watanabe, Miho Uranaka, Watanabe, Elon Musk, Miho Uranka, Daniel Leussink, David Dolan Organizations: Panasonic Energy Co, REUTERS, Panasonic, Reuters, Panasonic Energy, EV, Mazda, NORTH AMERICA Panasonic, U.S, Thomson Locations: Moriguchi, Osaka prefecture, Japan, Miho Uranaka OSAKA, United States, Nevada, Kansas, Osaka, North America, Oklahoma

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