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☆ 10 biggest stories of the first week of the 2024 Summer Olympics
▼ + stars: | 2024-08-03 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +15 min

The 2024 Summer Olympics are heading into their second weekend, and it’s truly been one for the history books. Turkey's Yusuf Dikec competes in the shooting 10m air pistol mixed team gold medal match during the Paris 2024 Olympic Games at Chateauroux Shooting Centre on July 30, 2024. Aleksandra Szmigiel/ReutersFrench athletes wave flags as they sail in a boat on the river Seine during the opening ceremony for the 2024 Summer Olympics in Paris, France, Friday, July 26, 2024. Fabrice Coffrini/AFP/Getty ImagesFrance's Anthony Jeanjean competes in the Men's Cycling BMX Freestyle Park Final during the Paris 2024 Olympic Games in Paris, on July 31, 2024. Emmanuel Dunand/AFP/Getty ImagesVisitors take pictures of the Olympic cauldron as it rises high after sunse on day two of the Olympic Games Paris 2024 at on July 28, 2024 in Paris, France.

Persons: it’s, Simone Biles ’, Léon, Simone Biles, Naomi Baker, she’s, Biles, Read, Léon Marchand, Gold, Leon Marchand, Quinn Rooney, he’s, Marchand, “, ”, Philippe Katerine, Dionysus, Katerine, ” Katerine, Anne, Christine Poujoulat, drenching, Cassandre Beaugrand, Alex Yee, New Zealand’s Hayden Wilde, Wilde, Yee, Novak, Serbia's Novak Djokovic, Lorenzo Musetti, Clive Brunskill, Rafael Nadal, Andre Agassi, Steffi Graf, Serena Williams, Djokovic, Nadal, Spain’s Carlos Alcaraz, Ilona Maher, Maher, Andy Murray, Murray, American’s Taylor Fritz, Tommy Paul, Dan Evans, Andy Murray’s, Kim Yeji, Charles McQuillan, there’s Yusuf Dikeç, Kim, Turkey's Yusuf Dikec, Alain Jocard, Dikeç, Imane Khelif, Angela Carini, dislodging, Carini, Mark Adams, ” Khelif, WADA, CHINADA –, Aleksandra Szmigiel, Franck Fife, Yoshimura Miho, Rwanda's Tufaha, Fabrice Coffrini, France's Anthony Jeanjean, Emmanuel Dunand, Maja Hitij, Amy Woodyatt, Patrick Sung, Gul Tuysuz, Jessie Yeung, Saskya Vandoorne, Ben Church, George Ramsay, Scottie Andrew, Chris Liakos, Simone McCarthy, Andrew McNicol, Kara Fox Organizations: Paris CNN, Paris Olympics, Olympic, Team United, Olympic Games, Bercy Arena, USA, Team France, Paris La Defense, La Défense, Games, CNN, Catholic, French Catholic Church, Paris, Getty, Wimbledon, US, rugby, Team USA, Australia, tennis Shooters, Team Republic of, Chateauroux Shooting, Olympic Committee, Tokyo, China’s, Doping Agency, Tokyo Games, Eiffel, Reuters, Palais Locations: Paris, France, Tokyo, Nanterre, French, AFP, Seine, New, Italy, Los Angeles, Team Republic of Korea, Chateauroux, South Korea, Turkey, Turkish, Beijing

☆ A chef opened a tiny dessert spot in Tokyo that sells shaved ice for $18 a bowl. I know it's a massive markup, and I'd still pay for it again.
▼ + stars: | 2024-03-23 | by ( Tammy Kwan | ) www.businessinsider.com time to read: +6 min

The shaved ice features unique textures, temperatures, and toppings. AdvertisementA few other customers ordered just before I did, so I patiently waited for my shaved ice to be prepared. But then, I started to taste the thinly shaved ice with the sweet red beans, fresh cream, and milk syrup. I would definitely come back againI have eaten my fair share of shaved ice around the world. In addition to kakigōri in Japan, I'm a fan of bingsu (milk-based Korean shaved ice) in Korea and ice kachang (shaved ice with mixed toppings) in Singapore.

Persons: —, Azuki, Miho Horio, Horio, Kouri, Tammy Kwan Azuki, Miho's, Tammy Kwan, would've, I'm Organizations: Service, Business Locations: Tokyo, Niseko, Yoyogi, Shibuya, Japan, Kouri, Korea, Singapore

☆ Planes Come Into Contact at Snowy Japan Airport
▼ + stars: | 2024-01-16 | by ( Miho Inada | Peter Landers | ) www.wsj.com time to read: 1 min

Planes belonging to Korean Air, left, and Cathay Pacific, right, after a collision at a Japanese airport. Photo: KYODO NEWS/ASSOCIATED PRESSTOKYO—A Korean Air jet that was moving away from the gate in heavy snow touched a Cathay Pacific plane at an airport in northern Japan on Tuesday, the airlines said. No one was hurt and there was no fire, officials said. Korean Air said the incident happened about 5:35 p.m. at New Chitose Airport near Sapporo on the northern island of Hokkaido. The Korean Air Airbus A330, scheduled to fly to Seoul with 276 passengers and 13 crew aboard, had just departed the gate and was in pushback, meaning it was getting into position to head to the runway with help from a ground handler vehicle.

Organizations: Korean Air, Cathay, KYODO, New, Korean Air Airbus Locations: Korean, Cathay Pacific, Japan, New Chitose, Sapporo, Hokkaido, Seoul, pushback

☆ Miho Inada — Reporter at The Wall Street Journal
▼ + stars: | 2024-01-13 | by ( Miho Inada | ) www.wsj.com time to read: 1 min

Miho InadaMiho Inada is a reporter based in The Wall Street Journal's Tokyo bureau covering business, healthcare, demographics and other subjects. Her articles have explored how companies, the government and average people are navigating the challenges of Japan’s aging and shrinking population. She has also written about the business of tourism and did a deep dive into the background of the suspect in the assassination of former Prime Minister Shinzo Abe in Nara, Japan. She has experience shooting and editing video for the Journal’s video team. Miho, a native of Japan's Kansai region, is a graduate of the University of Washington.

Persons: Miho Inada Miho Inada, Shinzo Abe, Miho Organizations: University of Washington Locations: Tokyo, Nara, Japan, Japan's Kansai

As tech heavyweights such as Apple (AAPL.O) and Amazon (AMZN.O) spend heavily on custom cutting-edge chips, companies using legacy chips are also looking to introduce custom silicon. Inverters adjust the speed of an air conditioner's motor to save energy. The custom chips, to be made by Taiwan's TSMC (2330.TW), cost more than off-the-shelf alternatives but offer better energy efficiency and allow a reduction in the use of other components, according to a Daikin executive. The company, which developed Japan's first packaged air conditioner in 1951, is also working on customised power modules, which help manage the air conditioner's electricity supply. The number of air conditioners globally is expected to more than triple to 5.6 billion units by 2050, according to the International Energy Agency.

Persons: Sam Nussey, Taiwan's TSMC, Yuji Yoneda, Daikin, Jamie Freed Organizations: Daikin, REUTERS, Rights, Daikin Industries, Apple, European Union, International Energy Agency, Thomson Locations: Tokyo, Japan, Osaka, United States

☆ Rakuten Group's losses, debt burden and financing efforts
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

Here are some details about its deeply troubled mobile business, the group's operating losses, debt burden and its efforts to shore up its finances. It had 351 billion yen ($2.4 billion) in annual sales last year and accounts for 18% of Rakuten's overall revenue. Rakuten Group currently has total debt of more than 1.5 trillion yen, of which 800 billion yen is due to be redeemed by the end of 2025. Nov 2022 - sells 19.99% of Rakuten Securities to Mizuho Securities for 80 billion yen. Nov 2023 - sells a further 29% of Rakuten Securities to Mizuho Securities for 87 billion yen.

Persons: Miho Uranaka, Rakuten, Hiroshi, Mickey, Mikitani, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, Rakuten, Reuters Graphics Reuters, Reuters Graphics, Japan Post Holdings, HK, Walmart, Rakuten Securities, Mizuho Securities, Rakuten Bank, Thomson Locations: Yokohama, Kanagawa, Japan, Japanese

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

☆ Rapidus hunts for engineers to help Japan regain faded chip glory
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

Tetsuro Higashi, the Chairman of Rapidus Corp., poses for a photograph during an interview with Reuters at the company headquarters in Tokyo, Japan February 2, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 28 (Reuters) - Government-backed Japanese chip foundry venture Rapidus is hunting high and low - including among industry veterans and overseas - to find engineers to help it revive a chip industry that was once the envy of the world. Rapidus is helmed by veteran chip industry executives who were working in the 1980s when Japan boasted a market share of around half of the global chips market. Rapidus' ambitious plans have been met with scepticism from chip industry insiders who have questioned whether the company will be able to achieve mass production and secure a sufficient customer base. Yonemaru last month relocated to work with IBM in New York state, part of a cohort of Rapidus engineers heading there as the fab is being constructed.

Persons: Tetsuro, Issei Kato, TSMC, Rapidus, Masami Suzuki, Suzuki, Naoto Yonemaru, Sam Nussey, Miho Uranaka, Tim Kelly, Jamie Freed Organizations: Rapidus Corp, Reuters, REUTERS, Rights, IBM, Rapidus, Thomson Locations: Tokyo, Japan, Hokkaido, New York

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

☆ The Land Where Inflation Is Good News
▼ + stars: | 2023-11-09 | by ( Miho Inada | Peter Landers | ) www.wsj.com time to read: 1 min

TOKYO—For a quarter-century, Japan tried every trick in the central-banking book to boost prices and jolt its troubled economy back to life. The cure turned out to be pandemic and war. Higher energy and food costs triggered by the Ukraine war, coupled with Covid-era supply-chain snags, are bringing a surprise end to the long, bleak era of Japanification. Businesses are increasing prices significantly, and wages have begun inching up.

Locations: TOKYO, Japan, Ukraine

TOKYO, Nov 6 (Reuters) - Japanese chip materials maker JSR Corp (4185.T) on Monday slashed its operating profit forecast for the current financial year by 62%, citing a weak recovery in demand for semiconductors and a slowdown in the biotech market. Investors are debating the recovery path for the chip industry which has been hit by a slowdown in demand for electronics such as smartphones and PCs. "We had projected an upturn in the second half of the year and as we've highlighted here we're no longer expecting that upturn," JSR CEO Eric Johnson told a news conference. Operating profit was 3.4 billion yen in the second quarter, following a loss of 6.1 billion yen three months earlier. A leading maker of photoresists used in chip making, JSR said sales for cutting edge extreme ultraviolet (EUV) lithography grew 15% year-on-year in the April-September period.

Persons: Eric Johnson, photoresists, Johnson, Sam Nussey, Miho Uranaka, Kim Coghill, Miral Organizations: JSR, Samsung Electronics, Japan Investment Corp, Thomson Locations: TOKYO, KS

Yasunori Ogawa, Seiko Epson Corporation President and Representative Director and CEO, talks about their strategy at the company office in Tokyo, Japan, October 27, 2023. REUTERS/Miho Uranaka Acquire Licensing RightsTOKYO, Oct 30 (Reuters) - Printing giant Seiko Epson (6724.T) is betting on growth in the Middle East and Africa as demand ebbs in its home market of Japan and other developed nations, its chief executive said. The Middle East, Turkey, and Africa were growth highlights in fiscal 2022. "Our products are not yet widely distributed in the Middle East, and there is tremendous potential there," Yasunori Ogawa said in an interview after the company posted quarterly results on Friday. To eke out more growth in developed markets, Epson plans to shift its portfolio more towards commercial and industrial customers looking to reduce waste.

Persons: Yasunori Ogawa, Miho Uranaka, Ogawa, stokes, Rocky Swift, Stephen Coates Organizations: Seiko Epson Corporation, REUTERS, Rights, Seiko Epson, Thomson Locations: Tokyo, Japan, East, Africa, Turkey, India, Dubai

TOKYO, Oct 25 (Reuters) - Kokusai Electric (6525.T) shares jumped 29% in their Tokyo market debut on Wednesday after private equity firm KKR sold shares in the chip equipment maker for $724 million in Japan's largest initial public offering (IPO) in five years. The stock opened at 2,116 yen and climbed to a high of 2,371 yen, valuing the company at 546.3 billion yen ($3.65 billion), as investors grabbed shares following the rare IPO of a key chip tool manufacturer. "The market for chip related stocks outside of AI is weak so some were wondering what would happen," said Tomoichiro Kubota, analyst at Matsui Securities. KKR agreed to buy Hitachi's (6501.T) electronic equipment unit in 2017 in a deal valuing the business at 257 billion yen ($1.72 billion) as the conglomerate streamlined operations. The private equity group then spun off Kokusai, which manufactures machines for depositing thin films on silicon wafers, the following year.

Persons: telco, Tomoichiro Kubota, Kazuyoshi Saito, Warren Buffett, Sam Nussey, Miho Uranaka, Mayu, Makiko Yamazaki, Chang, Ran Kim, Sonali Paul Organizations: KKR, telco SoftBank Corp, Matsui Securities, Reuters, Iwai Cosmo Securities, Materials, Equity, Thomson Locations: TOKYO, Tokyo, China, Japan

☆ Rakuten to invest $363 million in better frequency cell base
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Rakuten is pictured in Yokohama, Kanagawa, Japan, Aug 2, 2023. REUTERS/Miho Uranaka/File Photo Acquire Licensing RightsTOKYO, Oct 23 (Reuters) - Japan's Rakuten Group (4755.T) on Monday said it would invest 54.4 billion yen ($362.81 million) to construct cellular base stations, just after the government announced it had assigned the company's carrier better frequency for connection. The announcement could boost the company's mobile phone business that has struggled to take market share from cash-rich incumbents known for high-quality networks. Rakuten said it plans to open 10,661 base stations for the "platinum band" frequency and expects its cell phone business to turn profitable in 2026. The company is sticking to a plan to reduce capital expenditure by about 300 billion yen between 2023 and 2025, a spokesperson said.

Persons: Miho Uranaka, Rakuten, Satoshi Sugiyama, Barbara Lewis Organizations: REUTERS, Rights, Thomson Locations: Yokohama, Kanagawa, Japan

☆ China Arrests Japanese Executive Despite Tokyo’s Appeals
▼ + stars: | 2023-10-19 | by ( Miho Inada | ) www.wsj.com time to read: 1 min

The arrested Astellas Pharma executive disappeared in late March. Photo: Akio Kon/Bloomberg NewsTOKYO—China formally arrested a Japanese pharmaceutical executive who had been detained since March, Tokyo said Thursday, in a move likely to further chill business travel to the nation. Hirokazu Matsuno , Japan’s chief cabinet secretary, said the Astellas Pharma executive, whom China has previously identified as Hiroshi Nishiyama , was arrested in mid-October. Matsuno said Tokyo had made strong appeals to Beijing for the early release of the executive and would continue doing so.

Persons: Astellas, Akio Kon, Hirokazu, Hiroshi Nishiyama, Matsuno Organizations: Astellas Pharma, Bloomberg News TOKYO Locations: China, Tokyo, Beijing

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Japan's top banks are set to commit to 1.9 trillion yen ($12.7 billion) financing to support the merger of Kioxia Holdings and Western Digital's flash memory business, four people familiar with the matter told Reuters. Several tech deals have been scuppered in recent years due to delays in regulatory approvals or rejections by China. 2 player in NAND flash memory chips - and Western Digital's fourth-ranked flash business, would control a third of the global NAND flash market, on par with top player Samsung Electronics (005930.KS). Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues including valuation discrepancies. In Japan, the two companies jointly produce NAND flash memory chips, which are widely used in smartphones, personal computers and other devices to store digital data.

Persons: Kim Kyung, Bain, Nobuo Hayasaka, Makiko Yamazaki, Miho Uranaka, Maki Shiraki, Miyoung Kim, Tomasz Janowwski Organizations: REUTERS, Rights, Kioxia Holdings, Reuters, Intel Corp, China ., Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Development Bank of Japan, SK Hynix, Toshiba Corp, Samsung Electronics, Nasdaq, Western, Mitsubishi, Mizuho, Sumitomo Mitsui, Western Digital, Thomson Locations: Tokyo, Japan, China, Kioxia

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

The logo of Powerchip Semiconductor Manufacturing Corp's Japanese business in pictured in Tokyo, Japan July 21 2023. REUTERS/Sam Nussey/File Photo Acquire Licensing RightsSINGAPORE/TOKYO, Oct 17 (Reuters) - Taiwan chipmaker Powerchip Semiconductor Manufacturing Corp (6770.TW) is considering around five sites in Japan, including Mie prefecture, for setting up a potential $5.4 billion factory as talks on subsidies progress, sources said. Powerchip is looking at around five sites for the factory, the source said. One option is Mie prefecture in central Japan, two sources said, close to the industrial hub of Nagoya and fabs operated by Taiwan's UMC (2303.TW) and Japan's Kioxia. A factory from Powerchip would mark a further commitment by Taiwanese chipmakers into manufacturing in Japan, with TSMC (2330.TW) building a factory in Kyushu in western Japan and eyeing a second.

Persons: Sam Nussey, Powerchip, Taiwan's UMC, eyeing, chipmaker, Fanny Potkin, Miho Uranaka, Muralikumar Organizations: Powerchip Semiconductor Manufacturing, REUTERS, Rights, Powerchip Semiconductor Manufacturing Corp, SBI Holdings, SBI, Reuters, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, TOKYO, Taiwan, Mie, Nagoya, Powerchip, Kyushu

TOKYO, Oct 16 (Reuters) - Chip equipment maker Kokusai Electric (6525.T) has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR (KKR.N), set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion). If an overallotment option for domestic investors is exercised, the offering would raise roughly $833 million. The move was partly due to a lacklustre share price performance by chip designer Arm since its listing last month, a source familiar with the matter has said. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Mariko Katsumura, Sam Nussey, Miho Uranaka, Kim Coghill, Edwina Gibbs Organizations: Kokusai, U.S, KKR, Tokyo bourse's, Samsung Electronics, Micron Technology, Thomson Locations: TOKYO

The indicative price range was set at 1,830-1,840 yen per share, KKR-backed Kokusai said in a regulatory filing on Tuesday, compared with 1,890 yen previously. Kokusai said the lower range reflected the view of institutional investors and the state of the stock market. If its IPO prices at the top of the range, Kokusai, which manufactures machines that deposit thin films on silicon wafers, will offer 108.3 billion yen ($729 million) worth of shares and have a market valuation of 423.9 billion yen, excluding an overallotment. Capital Research and Management and Lazard Asset Management have committed to purchase shares at the offer price, Kokusai said in a separate filing. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Kokusai, SoftBank Group's, Sam Nussey, Makiko Yamazaki, Miho Uranaka, Kaori Kaneko, Christian Schmollinger, Sonali Paul, Edmund Klamann Organizations: Kokusai, KKR, Capital Research, Management, Lazard Asset Management, Samsung Electronics, Micron Technology, Investors, Micron, Thomson Locations: TOKYO

REUTERS/Toru Hanai//File Photo Acquire Licensing RightsTOKYO, Oct 5 (Reuters) - Fujitsu (6702.T) and research institute Riken on Thursday announced the successful development of Japan's second quantum computer, as part of research efforts around the world to make the nascent technology practical. The 64 qubit quantum computer from Fujitsu and state-backed Riken will be integrated with a 40 qubit quantum computer simulator, as researchers work to eliminate the errors which prevent such systems from providing accurate results. IBM last year launched a 433 qubit quantum computer. Qubits, or quantum bits, are a measure of the power of quantum computers, which use quantum mechanics. China, the U.S. and allied industrial democracies are in a race to take a lead in advanced technology including quantum computing, with President Joe Biden moving to hamper some U.S. investment in Chinese efforts to develop the technology.

Persons: Toru Hanai, Shintaro Sato, Joe Biden, Sam Nussey, Miho Uranaka, Stephen Coates Organizations: Fujitsu, Advanced Technologies, Makuhari, REUTERS, Rights, IBM, Thomson Locations: CEATEC, JAPAN, Chiba, Japan, China, U.S

REUTERS/Issei Kato/file photo Acquire Licensing RightsTOKYO, Sept 29 (Reuters) - Sony Group (6758.T) is increasing its focus on the virtual production business where it is seeing market-beating growth, a company executive said, riding on the strength of the Japanese entertainment conglomerate's technology. The business, which offers virtual production facilities to filmmakers and broadcasters, involves using a wall of light-emitting diode (LED) panels displaying images - a science-fiction landscape or a downtown cityscape - that are integrated into the scene as it is shot. "It's because we have the hardware that we can recreate in the virtual world," Yasuharu Nomura, Sony's head of virtual production, said in an interview. Sony says its virtual production business is growing by around 35% annually, faster than the overall market, with an increasing proportion of sales expected to come from services. Virtual production technology gained attention after its use in science-fiction show "The Mandalorian" from Walt Disney (DIS.N), which used in-house visual effects firm Industrial Light & Magic.

Persons: Issei Kato, Yasuharu Nomura, Walt Disney, Kota Ezawa, Sam Nussey, Miho Uranaka, Muralikumar Organizations: Sony, REUTERS, Rights, Sony Group, Hollywood, Epic Games, Citigroup, Thomson Locations: Tokyo, Japan

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