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☆ Fast Retailing Group CEO shares his thoughts on succession planning
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFast Retailing Group CEO shares his thoughts on succession planningTadashi Yanai, Fast Retailing Group Chairman & CEO, discusses his legacy and future of the company, citing his unique position as founder and owner.

Persons: Tadashi Yanai Organizations: Retailing

☆ Japanese wages need to be doubled, says Fast Retailing Group CEO
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese wages need to be doubled, says Fast Retailing Group CEOTadashi Yanai, Chairman & CEO of Fast Retailing Group, discusses the need for wage increases against the backdrop of the yen's fluctuations and Japan's growth momentum.

Persons: Tadashi Yanai Organizations: Retailing

☆ A weak yen is 'absolutely negative' for Fast Retailing, says Chairman
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA weak yen is 'absolutely negative' for Fast Retailing, says ChairmanTadashi Yanai, Chairman and CEO of Fast Retailing explains the impact the weak yen has on the business, and outlines why expansion in China is the Uniqlo operator's top priority.

Persons: Tadashi Yanai Organizations: Retailing Locations: China

☆ Why Uniqlo is thriving right now
▼ + stars: | 2024-10-18 | by ( Maria Noyen | ) www.businessinsider.com time to read: +7 min

Uniqlo's parent recently reported record earnings for the third year running, bolstered by strong sales at Uniqlo. Uniqlo consumers are diverse in age and disposable income. Uniqlo thinks of itself as a tech companyTadashi Yanai, CEO of Uniqlo and founder of Fast Retailing, once said, "Uniqlo is not a fashion company — it's a technology company." Cristina Arias/Cover/Getty ImagesThat's why Uniqlo releases new collections seasonally, whereas rivals such as Zara produce about 500 new designs weekly. He thinks Uniqlo comes with "a bit of this myth of the Japanese psyche.

Persons: —, Zara, Kate Yuille, Uniqlo.com Amrita Banta, Z, Banta, Martin Roll, Uniqlo, Tadashi Yanai, Toray, Yanai, Cristina Arias, Yuille, that's, Koji Watanabe Organizations: Service, Retailing, M, GU, Research, Strategy, McKinsey Locations: Japan, Zara, Hiroshima, Uniqlo, Uniqlo's

☆ BOJ unlikely to hike before January: PineBridge Investments
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ unlikely to hike before January: PineBridge InvestmentsTadashi Matsukawa of Pinebridge Investments says the BOJ is likely still staying tuned to US data and the Fed before it decides on when it will hike rates next year – but he rules out any change in monetary policy in 2024.

Persons: Tadashi Matsukawa Organizations: PineBridge, Pinebridge Investments

☆ Capitalize on current value to maximize carry profits: PineBridge
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCapitalize on current value to maximize carry profits: PineBridgeTadashi Matsukawa of PineBridge Investments expects the Bank of Japan to hold steady for the rest of the year, and explains how he's investing in fixed income in light of that expectation.

Persons: PineBridge Tadashi Matsukawa Organizations: PineBridge Investments, Bank of Japan

☆ Shoko Miyata: Japanese gymnast withdraws from Olympic Games after smoking and drinking alcohol
▼ + stars: | 2024-07-22 | by ( Matias Grez | ) edition.cnn.com time to read: +1 min

CNN —Shoko Miyata, the captain of Japan’s women’s gymnastics team, has withdrawn from Paris 2024 after allegedly breaking the team’s code of conduct by smoking and drinking alcohol, according to the Japanese Gymnastics Association (JGA). The legal smoking and drinking age in Japan is 20 and the JGA’s code of conduct prohibits gymnasts from doing either during team activities, regardless of age. Nishimura said that one incident of smoking took place “in a private place at a certain location in Tokyo” and a separate incident of drinking took place “in a room in the Athlete Village of the National Training Center.”“She engaged in smoking and drinking due to numerous pressures from the competitive targets that had been set,” Nishimura added. Miyata, who won bronze on the balance beam at the 2022 World Artistic Gymnastics Championships, was due to captain Japan’s women’s team of debut Olympians. The country’s women’s team is trying to win its first team medal since the 1964 Tokyo Games.

Persons: Shoko Miyata, Japan’s, Miyata, ”, Kenji Nishimura, Nishimura, ” Nishimura, Japan’s women’s, Tadashi Fujita, It’s Organizations: CNN, Japanese Gymnastics Association, National Training Center, Gymnastics Association Locations: Japan, Tokyo

☆ Investors look to upcoming earnings to keep stock rally going
▼ + stars: | 2024-07-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —With interest rate cuts on the backburner, Wall Street is looking to corporate earnings to continue powering the 2024 stock market rally. Analysts polled by FactSet expect second-quarter earnings of S&P 500 companies to grow about 8.7% on average from the prior year. Strong corporate earnings have helped the S&P 500 gain a whopping 16% and notch repeated record high closes this year. Since the Fed isn’t likely to cut rates anytime soon, the onus is on strong corporate earnings to continue driving the market rally. Earnings season kicks off July 12 when big banks including JPMorgan Chase, Wells Fargo and Citigroup report results.

Persons: FactSet, Jerome Powell, ”, Jeffrey Buchbinder, Wells, Dow, Lisa Shalett, Jessie Yeung, Hanako Montgomery, Junko Ogura, “, Tadashi Matsubara, ” Read, Laura He, Pan Gongsheng, Read Organizations: CNN Business, Bell, New York CNN, Federal, LPL, JPMorgan Chase, Citigroup, Nvidia, Microsoft, Meta, Dow Jones, Morgan Stanley Wealth Management, Kanpou, “, Beijing Money, Silicon Valley Bank, People’s Bank of China, prudential Locations: New York, Sintra , Portugal, Wells Fargo, Banks, Japan, Nepal, China, Beijing, Silicon, United States, Shanghai

“Without Nepal, Japan would not function.”The yellow flowers of the paperbush shrub seen in Dolakha, Nepal, in December 2023. Its bark has long, strong fibers that are perfect for making thin yet durable paper, according to the Kantou website. But as the shortage of Japanese paperbush became evident in the following years, Kanpou and the Nepali farmers ramped up production until they became the main source of the yen bill. It’s a protracted process, said Matsubara: farmers plant seedlings in early summer, harvest their branches in the fall, then spend several months processing the bark through steaming, peeling, washing and drying. The profits from the paperbush sales have provided a new revenue stream to Nepali communities, said Matsubara.

Persons: “, ”, Tadashi Matsubara, Matsubara, Tadashi Matsubara Kanpou, It’s, it’s, Eiichi Shibusawa, –, Kanpou Organizations: Tokyo CNN — Banks, Kanpou, “, National Printing Bureau, Kyodo, Bank of Japan, Observatory, Ministry of Economy, Trade, Industry, government’s Japan International Cooperation Agency, CNN Locations: Japan, Nepal, China, Dolakha, Everest, Tokyo, Farmers, Kathmandu, Indian, Kolkata, Yokohama, Odawara, Ilam, Nepal’s Ilam

☆ Uniqlo owner Fast Retailing annual profit rises 28% to fresh record
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] A customer looks at a cardigan in a store of the Uniqlo fast fashion retailer in the Sanlitun shopping district in Beijing, China, November 6, 2021. REUTERS/Thomas Peter/File photo Acquire Licensing RightsTOKYO, Oct 12 (Reuters) - Japan's Fast Retailing Co (9983.T), owner of clothing brand Uniqlo, reported on Thursday that full-year operating profit rose 28% to reach its second consecutive record, aided by a post-pandemic recovery in China and the yen's slide. Profit was 381.1 billion yen ($2.56 billion) in the 12 months through August compared with 297.3 billion yen, the previous all-time high, a year earlier. Operating profit is expected to rise to reach another record of 450 billion yen next fiscal year, the company said. When its Chinese operations suffered during strict COVID-19 restrictions, Fast Retailing put increased focus on markets in North America and Europe.

Persons: Thomas Peter, Daisuke Tsukagoshi, Tadashi Yanai, Rocky Swift, Muralikumar Anantharaman, Jamie Freed Organizations: REUTERS, Rights, Retailing, Japan's, Forbes, Thomson Locations: cardigan, Beijing, China, Japan, North America, Europe

Operating profit for the fiscal year through August is expected to rise 26% to 374.6 billion yen ($2.52 billion), according to the average estimate of 12 analysts collected by LSEG. The company has forecast 370 billion yen, which would far exceed last year's 297.3 billion yen. Consensus estimates could be underplaying the company's results given the recovery in China, the weak yen, and strong performance in the United States and Europe, said LightStream Research analyst Oshadhi Kumarasiri. "I'm expecting a positive earnings surprise and a strong set of guidance for next year," added Kumarasiri, who publishes on the Smartkarma platform. Fast Retailing's shares are up 22% in 2023, about even with the gain in the benchmark Nikkei index (.N225).

Persons: Tadashi Yanai, Oshadhi Kumarasiri, I'm, Daisuke Tsukagoshi, Uniqlo, Yanai, Rocky Swift, Varun Organizations: Retailing, Japan's, Forbes, Nikkei, Thomson Locations: TOKYO, China, United States, Europe, doldrums, North America

☆ Bank of Japan made a 'small step towards normalization'
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Japan made a 'small step towards normalization' with today's monetary policy tweaksTadashi Matsukawa of PineBridge Investments discusses why he thinks that the Bank of Japan made a big policy change technically with today's monetary policy decision.

Persons: Tadashi Organizations: Email Bank of Japan, PineBridge Investments, Bank of Japan

CNN —The leader of Ukraine’s national fencing team, Olga Kharlan, said she “acted with my heart” following her disqualification from the world championships for refusing to shake hands with a Russian opponent. The four-time individual world champion and four-time Olympic medalist also called for a rule change regarding the disqualification of athletes who refuse to shake hands with opponents. CNN has contacted the International Fencing Federation for comment on Kharlan’s disqualification. Tadashi Miyamoto/AFLO/Shutterstock“I did not want to shake hands with that athlete and I acted with my heart,” said Kharlan. Ukrainian tennis stars – namely Elina Svitolina, Marta Kostyuk, and Lesia Tsurenko – have all refused to shake hands with Russian opponents.

Persons: Olga Kharlan, “, ” Kharlan, Kharlan, Russian Anna Smirnova, Smirnova, Tadashi Miyamoto, ”, ” Mikhailo Ilyashev, Ilyashev, Elina Svitolina, Marta Kostyuk Organizations: CNN, Fencing Federation, International Fencing Federation, Ukrainian Fencing Federation, Olympics, Wimbledon Locations: Russian, Milan, Ukrainian

☆ Olga Kharlan: Ukraine's top fencer granted place at Olympics after disqualification for not shaking hands with Russian opponent
▼ + stars: | 2023-07-28 | by ( Svitlana Vlasova Victoria Butenko Tim Lister | Svitlana Vlasova | Victoria Butenko | ) edition.cnn.com time to read: +5 min

Olga Kharlan, leader of Ukraine’s national fencing team, was earlier disqualified at the tournament after she refused to shake hands with the Russian rival Anna Smirnova she defeated. An athlete’s refusal to shake hands after a contest results in a black card and expulsion, according to International Fencing Federation rules. The federation said it has met with Kharlan and spoken with the International Olympic Committee and finds the reinstatement “in keeping with the Olympic Spirit”. IOC chief’s interventionThat turnaround came came after a pointed intervention from the President of the International Olympic Committee, Thomas Bach, himself a former fencer. Meanwhile, Ukrainian tennis player Elina Svitolina took to Twitter to support Kharlan, writing: “We are not shaking hands with Russian and Belarusian athletes.

Persons: Olga Kharlan, Anna Smirnova, Smirnova, Kharlan, Thomas Bach, Bach, ”, Olga Kharlan of, Tadashi Miyamoto, “, Dmytro Kuleba, ” Kharlan, Vladimir Putin, Marta Kostyuk, Kostyuk, Aryna Sabalenka, Sabalenka, won’t, Elina Svitolina Organizations: CNN, International Fencing Federation, Paris, Fencing, International Olympic Committee, IOC, Paris Olympics, Fencing Federation, Ukraine’s, Belarus, Aryna, Twitter Locations: Ukrainian, Italy, Russian, Ukraine, Milan, Olga Kharlan of Ukraine, Russia, Kyiv, Belarusian

☆ Uniqlo owner's 3Q profit surges 35%, raises forecast on China recovery
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 13 (Reuters) - The Japanese operator of apparel retailer Uniqlo reported record third-quarter profit on Thursday and raised its full-year forecast as its business in China continued to recover from a pandemic slowdown. Fast Retailing's (9983.T) operating profit in the three months through May surged 35% to 110.3 billion yen ($797 million), exceeding the 102.4 billion yen average of forecasts from seven analysts surveyed by Refinitiv. The company raised its full-year profit forecast to 370 billion yen, also a new record, from 360 billion yen previously. Fast Retailing's Uniqlo sign boards are displayed at a casual clothing store in Tokyo, Japan January 11, 2023. Fast Retailing's shares have soared 32% so far this year, helping founder Tadashi Yanai cement his place as Japan's richest person.

Persons: Uniqlo, Issei Kato, Tadashi Yanai, Rocky Swift, Stephen Coates, Tom Hogue Organizations: REUTERS, Business, Nikkei, Thomson Locations: TOKYO, China, Tokyo, Japan

☆ Japan and Malaysia must cooperate in the oil and gas industry: Bank chairman
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan and Malaysia must cooperate in the oil and gas industry: Bank chairmanTadashi Maeda, chairman of the Japan Bank for International Cooperation, discusses how countries can work together to address their carbon neutrality goals.

Persons: Tadashi Maeda Organizations: Japan, Bank, Japan Bank, International Cooperation Locations: Malaysia

[1/2] The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. REUTERS/Anushree Fadnavis/File PhotoTOYOTA CITY, Japan, June 14 (Reuters) - Shareholders of Toyota (7203.T) voted down an unprecedented resolution on its automaker's climate lobbying and backed its board at an annual general meeting (AGM) on Wednesday, sending an endorsement of the Japanese automaker's strategy. Shareholders also voted in favour of all 10 members of the board. That vote, and particularly support for Chairman Akio Toyoda, has been in focus after some major U.S. pension funds said they would not vote for Toyoda, citing concerns about board independence. Toyota is taking a multi-pathway approach toward carbon neutrality that includes petrol-electric hybrids and hydrogen fuel cells, along with EVs.

Persons: Anushree, Akio Toyoda, Toyoda, Akio, Tadashi Imai, Daniel Leussink, David Dolan, Christopher Cushing Organizations: REUTERS, TOYOTA CITY, Toyota, Shareholders, Thomson Locations: New Delhi, India, Japan

☆ A 13-year-old boy was groomed publicly on Twitter and kidnapped, despite numerous chances to stop it
▼ + stars: | 2023-04-25 | by ( Ben Goggin | ) www.cnbc.com time to read: +19 min

On the Hunter Fox Twitter account, the adult interacted directly with the boy's account, where he posted selfies of himself on a school bus and in other locations. Their teen son had plenty of friends, his parents said, and liked to play golf and build Legos. Heather McConney's teen son communicated with the man accused of grooming him through an Apple iPhone. The suspect's primary Twitter account appears to have been @HunterFloofyFox. After the worst day of their lives, the McConneys' son was recovered early on the morning of Dec. 28 in Nebraska.

SINGAPORE, Jan 20 (Reuters) - Japan's central bank appears to have scored an interim win in its long-drawn battle with bond bears. The Bank of Japan's (BOJ) policy meeting this week was, at first glance, a damp squib for excited markets. It maintained its cap on 10-year yields, defying market expectations for change, and modified a funds-supply operation such that it offers more money for longer tenors to banks. After Wednesday's decision to retain ultra-low rates, 10-year bond yields, which had been testing the BOJ's 0.5% cap for a week, settled below 0.4%, suggesting many speculators were closing positions. "Most people are concerned about market liquidity in the bond market," a senior trader at a global bank in Asia told Reuters.

☆ Uniqlo owner gives Japan Inc a jolt with 40% wage hike
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Jan 11 (Reuters) - Uniqlo parent Fast Retailing Co Ltd (9983.T) on Wednesday said it would raise wages by as much as 40%, focusing on its home market of Japan, where salaries have been under downward pressure for years. The move by the casual clothing giant may serve as a wake-up call for Japan Inc ahead of annual spring labour negotiations. The company, which operates over 3,500 clothing stores worldwide, said its remuneration system would be revised from March, and that levels in Japan would be significantly raised. read moreThe company's share price rose 1.4% in Tokyo morning trade, versus a 1% advance in the benchmark Nikkei (.N225) index. ($1 = 132.4400 yen)($1 = 132.5300 yen)Reporting by Rocky Swift; Editing by Tom Hogue and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Those traveling to Japan right now are 'mostly rich people,' says Japan Association of Travel Agents
▼ + stars: | 2022-12-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThose traveling to Japan right now are 'mostly rich people,' says Japan Association of Travel AgentsTadashi Shimura of Japan Association of Travel Agents says Hokkaido and Okinawa are popular destinations for foreign tourists.

☆ Uniqlo owner set for record annual profit, but all eyes on China showing
▼ + stars: | 2022-10-12 | by ( Rocky Swift | ) www.reuters.com time to read: +3 min

REUTERS/Thomas PeterTOKYO, Oct 12 (Reuters) - Japan's Fast Retailing Co (9983.T), owner of clothing brand Uniqlo, is expected to post a record annual profit on Thursday as the yen's slump has boosted the value of its overseas sales even as soaring living costs dampen prospects for retailers. Operating profit for the fiscal year is expected to rise nearly 17% to 291 billion yen ($1.99 billion), according to an average of 12 analyst estimates from Refinitiv. Fast Retailing has forecast 290 billion yen. Register now for FREE unlimited access to Reuters.com RegisterThat would exceed the previous profit record of 263 billion yen in the year ended in August 2019. As its Chinese operations slumped, Fast Retailing has put increased focus on North America and expects to turn an annual profit in the region for the first time this year.

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