Word: mitsubishis
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...Keenan points to Minoru Makihara '54, the head of Mitsubishi Corp., as a pivotal figure in Harvard's Asian fundraising...
...news is good news in Japan these days. Last month Nissan announced a sweeping restructuring with thousands of job cuts, and last week it reported a $3 billion loss, one of the biggest in history. The overwhelming reaction among Japan watchers was...jubilation. These days each time Mitsubishi, NEC or Hitachi announces a plant closing, the Tokyo stock market surges higher. Economists now cheer as banks that once could have bought small countries desperately merge or plead for a white knight (even foreigners are welcome) to save them from insolvency. Behind this seemingly misplaced optimism in Japan's ailing economy...
Amen. Even as giants like Nissan and Mitsubishi are racked by restructuring woes, new start-ups emerge every day in Japan. To be sure, their ranks are puny by U.S. standards, but the movement seems to have taken hold. This fall 2,300 enthusiasts turned out for a meeting promoting the establishment of a NASDAQ over-the-counter market in Japan. Old business models are being tossed aside like yesterday's sashimi. The hero of a popular novel is the young president of a chain of bars. One of Japan's biggest growth industries is continuing education. And Tokyo...
Olga and Ed also had a "problem" when they exchanged with a couple in Missouri who had neglected to get new license plates on their Mitsubishi, and the Bowes were stopped by the police almost as soon as they took it out of the driveway. "We can't use this car!" they called their home to complain. "Oh, sorry," said their swappers. "Just use the car in the garage--the white Jaguar...
...past 35 weeks, driving up the Nikkei stock market average some 25% so far this year. The problem is that Japanese corporate profits are also heavily dependent on exports, which can rapidly become too expensive for foreign consumers as the yen appreciates. Indeed, big exporters like Mitsubishi and Bridgestone have begun to complain publicly that Japan's currency is too strong. Sony recently blamed a profit slump on the yen as well...