Word: mitsui
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Visiting Professor of Business Administration Marc J. Epstein has been charged by Los Angeles-based Mitsui Manufacturers Bank with failing to pay the money. The bank's suit seeks to appropriate Epstein's Harvard paychecks in order to recover the bank's money...
...their invasion of the U.S. property market, the Japanese have spent spectacular sums. Mitsui Real Estate Development paid $610 million for the Exxon Building in Rockefeller Center last December, the highest price ever fetched by a Manhattan office tower. Last November, Daiichi America Real Estate paid an all-time top price for U.S. retail space when it shelled out $94 million, or about $1,000 per square foot, for the Tiffany building on Manhattan's Fifth Avenue. Nissei Realty turned over an estimated $135 million last November for a half share of San Francisco's 38-story Crocker Bank Tower...
...hardly headline news anymore when a Japanese company opens a plant in an American town to make television sets or trucks, cars or VCRs. Recently, though, Japanese firms have been taking on a new mantle, this time as big-time U.S. landlords. Last week Mitsui Real Estate Development snapped up one of the best-known office towers in the U.S., paying $610 million for the Exxon Building...
...supports. A government advisory panel last month recommended that domestic coal production should be slashed 38%, to 10 million tons a year, by 1991. As a result, about 11,000 of the country's 24,000 miners would lose their jobs. Says Shigeo Shigetaka, a union official at the Mitsui Sunagawa coal mine: "The proposed cut is the same as a death sentence." To protest the plan, workers at Japan's eleven major mines mounted a 24-hour strike on Nov. 13. Some 7,000 supporters marched with union flags and placards in subfreezing weather. Still, their action...
...host to 38 Japanese banks, concentrated in New York and California. The California Street area of San Francisco, where Sumitomo, Mitsubishi, Mitsui Manufacturers and Bank of Tokyo Trust have offices, seems to be almost an extension of the Tokyo financial district. Moreover, the invaders are swallowing their competitors. San Francisco's Golden State Sanwa Bank will soon buy the California subsidiary of Britain's Lloyd's Bank for $263 million. When that happens, the Japanese will control four of the ten biggest banks in California...