Word: nippon
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...story on Japan's economic recovery [April 12], we said that the 2003 steel production for Nippon Steel's Kimitsu Works was 925 million tons and that the Japanese government's yen intervention from the start of this year amounted to $900 billion. The numbers should have read 9.25 million and $95 billion, respectively...
...cash register to pay for a burger and fries or a new winter coat is still largely a futuristic notion in the U.S. and Europe. Yet parts of Asia are making serious strides toward mobile finance as a fully functional reality. In Japan, telecom NTT DoCoMo and financial firms Nippon Shinpan and Visa International are rolling out the second test phase of an infrared-enabled payment system, which will include 1,000 merchants and 10,000 consumers. Peddlers of the technology have gained an even greater foothold in South Korea, a cell phone--obsessed society in which wireless providers...
...DIED. HISASHI SHINTO, 92, the first president of Nippon Telegraph & Telephone Corp.; in Tokyo. One of Japan's leading industrialists, Shinto was responsible for transforming NTT from a government utility into one of the world's largest privately owned telecommunications companies...
...thanks largely to its taste for companies that evoke Japanese national pride. Ripplewood in 1999 became the first foreign firm to buy out a Japanese bank?Long-Term Credit Bank, the fifth largest in the country. Last year it snapped up the biggest share in?and effective control of?Nippon Columbia, the 92-year-old record label whose name is synonymous with enka (Japanese folk ballads). Then Ripplewood bought out Seagaia, a sprawling golf-and-beach resort on the southern island of Kyushu that plays host to Japan's best-known golf tournament. Ripplewood also purchased Niles Parts, an auto...
...record label Nippon Columbia, Ripplewood's task was less to redefine the business than to get back to it. Over the years the company had simply stopped producing hits, relying for sales revenue on the albums of enka queen Hibari Misora?who died in 1989. Nippon Columbia owned Denon, an audio-equipment maker, and odd assets such as real estate and golf memberships. The staff was bloated, the headquarters stuffy, and the company had not turned a profit in 10 years...