Word: mitsui
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Twenty kilometers outside the city of Nagoya in central Japan, on ground that was the Aichi Youth Park, a glittering futurescape has risen at the site of the 2005 World Exposition. Visitors at the expo's Mitsui-Toshiba pavilion are taken on a multimedia journey through outer space that speculates on the feasibility of travel to distant reaches of the universe. At the Japan pavilion, saltwater red snapper and freshwater carp live side by side in the same pool-a marvel accomplished by infusing the tank with "oxygenated nanobubbles." Throughout the 173-hectare grounds, more than 25 robots...
...four people are trying to help save the planet - and turn a nice profit along the way. They are the European staff of CO2e, a top player in the emerging global market in greenhouse-gas emissions. Owned by Cantor, the global financial- services firm, and its Japanese junior partner Mitsui & Co., CO2e's goal is to help mitigate the effects of global warming by buying and selling carbon dioxide emissions allowances. Each allowance unit gives its holder the right to emit one metric...
...used to be. Three of the country's largest banks are engaged in an unusual corporate-takeover battle that could develop into something unheard of in the country's clubby and consensus-driven banking community: a hostile takeover bid. The combatants are Mitsubishi Tokyo Financial Group (MTFG) and Sumitomo Mitsui Financial Group (SMFG), Japan's second- and third-largest banks, respectively. They are vying to merge with UFJ Holdings, the sickest and smallest of the country's Big Four banks, in a bidding war that highlights the degree to which government reform and revived economic vibrancy have unleashed a fresh...
...giant Daiei?one of the country's biggest "zombie" companies, enterprises that continue to operate despite crushing debt and chronic unprofitability. Daiei is carrying debt of nearly $10 billion. It has little hope of ever repaying, but it has always managed to convince a trio of lenders?UFJ, Sumitomo Mitsui Bank and Mizuho Holdings?to extend additional credit at crucial moments in order to keep it alive. UFJ is urging Daiei's management to accept assistance from the Industrial Revitalization Corporation of Japan (IRCJ), a state-backed bank designed to overhaul Japan's most hapless companies. Meanwhile, U.S. retailing juggernaut...
...INDICATORS Rising Interest Japan's Sumitomo Mitsui Financial Group sought to scupper a merger agreement between rival banks UFJ Holdings and Mitsubishi Tokyo Financial Group (MTFG) with a $29 billion bid for UFJ. It said it would consider SMFG's offer, but would still link up with MTFG, creating the world's largest bank...