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Search resuls for: "Nikkei Business"


2 mentions found


☆ Toyota opens new Myanmar plant put on hold following coup
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +2 min
TOKYO, Oct 12 (Reuters) - Toyota Motor Corp (7203.T) said on Wednesday it had begun assembling cars at a new plant in Myanmar that was put on hold for more than 19 months after a military coup and during the coronavirus pandemic. Japanese companies and other multinationals have faced pressure to pull out of investments in Myanmar that are perceived to benefit the military. Human Rights Watch, a leading advocacy group, called for Toyota and any other companies seeking to invest or resume operation in Myanmar to conduct human rights due diligence. "Toyota should certainly refrain from doing business with Myanmar military owned conglomerates ... as well as their subsidiaries," said Teppei Kasai, the organisation's Asia programme officer. The Toyota plant is in the Thilawa Special Economic Zone, a manufacturing and logistics hub outside the business hub of Yangon built with Japanese investment.
☆ Japan to offer low-interest loans for LNG procurement -Nikkei
  + stars: | 2022-09-29 | by ( ) www.reuters.com   time to read: +2 min
The state-owned Japan Bank for International Cooperation (JBIC) will provide low-interest loans to electric power utilities and city gas companies to buy the super-chilled fuel from the spot market, the paper said, without citing sources. Spot LNG prices remain at high levels amid a risk of supply disruption from Russia given its war with Ukraine. Japanese utilities buy the bulk of their LNG through long-term contracts, but about 20% comes from the spot market. Asian spot LNG prices have skyrocketed this year, hitting a record high in August, though they since have eased because of high inventory levels and governments' efforts to curb demand in Europe. It would cost Japan more than 1 trillion yen ($6.9 billion) to buy 6 million tonnes of LNG a year from the spot market if shipments from Russia were stopped completely, the Nikkei said.
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