[TODAY'S TOP STORIES] from [The Japan Times]
[BUSINESS NEWS]
Wednesday, May 27, 2009
MHI opens in Kiev, Johannesburg
(Kyodo News) Mitsubishi Heavy Industries Ltd. said Tuesday it has set up offices in Kiev and Johannesburg for research and marketing as it anticipates growth in energy- and environment-related businesses.
Mitsubishi Heavy, noting that the government agreed in March to buy 30 million tons of greenhouse gas emission rights from Ukraine, said it expects business in transportation machinery and other machines to expand.
The company said it hopes the Johannesburg office will help it to cash in on business opportunities in such areas as nuclear and other power systems, construction and transportation equipment, and industrial machinery such as machine tools.
The company has had close business ties with South Africa and is participating in a program related to small nuclear power plants.
[BUSINESS NEWS]
Wednesday, May 27, 2009
Rio agrees to 33% iron ore price cut with Nippon Steel
MELBOURNE (Bloomberg) Rio Tinto Group, the world's second-largest iron ore exporter, agreed to a 33 percent cut in contract prices with Japanese steelmakers, the company said Tuesday, making it the first decline in seven years as the global recession slashes demand.
Nippon Steel Corp. agreed to pay Rio 97 cents a dry metric ton unit for its benchmark product in the year started April 1, London-based Rio said. Goldman Sachs had forecast a 40 percent drop from last year's record.
Rio's shares reversed a decline and rival Australian iron-ore exporters surged on optimism the agreement will set a global benchmark for contract prices, which had risen more than fivefold since 1999. Chinese steel mills, the world's biggest producers, are likely to resist the accord after calling for prices to be as much as halved.
"What looks like a pretty good deal might end up being a bit tougher when they come across the Chinese," said Mark Pervan, a senior commodity strategist at Australia & New Zealand Banking Group Ltd. in Melbourne. "Historically you could say this is a done deal, when Rio strikes with Nippon, well everyone follows, but I get a feeling maybe the Chinese have got something else in store."
The price accord is the second highest on record, according to Bloomberg calculations. "The fines settlement is better than most brokers expectations for a 35 to 40 percent fall," Marcus Padley, a broker at Paterson Securities Ltd., wrote in his trading newsletter.
Nippon Steel spokesman Hayato Uchida confirmed an agreement with Rio at the cited prices. JFE Holdings Inc., Japan's second-biggest steelmaker, agreed to the same prices, according to a company spokesman who declined to be named. Kobe Steel Ltd., Japan's fourth-largest producer, also reached an agreement for a 33 percent cut, said spokesman Ryuichi Nakagami.
Sumitomo Metal Industries Ltd., Japan's third-largest steelmaker, reached agreement with Rio on the same conditions, said spokesman Nobuaki Masuda.
Posco, Asia's third-biggest steelmaker, is still in talks with Rio, Choi Doo Jin, a spokesman for the South Korean company, said.
[BUSINESS NEWS]
Wednesday, May 27, 2009
Showa Shell eyes 10% slice of solar panels
(Compiled from Bloomberg, Kyodo) Showa Shell Sekiyu KK aims to secure a 10 percent share of the global solar panel market by the end of 2014, up from less than 1 percent now, the company announced Tuesday.
Showa Shell, a refiner and solar equipment maker, is targeting pretax profit excluding inventory valuations of 100 billion in 2014, according to a five-year business plan released to the Tokyo Stock Exchange. The solar business will earn half that total, the company expects, up from break-even earnings in the year ended December 2008.
Showa Shell posted 45.6 billion in group pretax profit in 2008, with most of the profit coming from the oil business.
The unit of Royal Dutch Shell PLC is diversifying from fuel production as Japan's petroleum demand declines because of a shrinking population and increased energy conservation by households and businesses. Showa Shell has two solar panel factories in Miyazaki Prefecture with combined production capacity of 80 megawatts a year.
[SPORTS]
Wednesday, May 27, 2009
Naito wins unanimous decision to retain title
(Kyodo News) Daisuke Naito won a unanimous decision over Xiong Zhaozhong of China on Tuesday to successfully defend the WBC flyweight title for the fifth time.
With the victory, Naito rewrote his own record for the oldest Japanese boxer to defend a world title at 34 years, 8 months. He improved his record to 35 wins, 22 by way of knockout, two defeats and three draws.
"I want to apologize for a poorly fought match but this was the extent of my ability. I still have a lot to work on," Naito said. "No one is weak in the world rankings. I didn't take my opponent lightly, but I realize how difficult boxing is."
The 10th-ranked Xiong, the first Chinese male to take a crack at a world title, slipped to 12-2-1 (eight KOs). But Xiong had Naito on the ropes at points in the bout and sent the champion to the canvas with a crushing right to the jaw in the sixth at Differ Ariake.
Naito, who never relented despite being cut above both eyes in the slugfest, also matched the late Masao Oba for the number of flyweight title defenses by a Japanese boxer.
The match was originally scheduled to take place the same day in Shanghai but it was switched to Tokyo just three days prior after negotiations between Naito's Miyata gym and its Chinese counterpart broke down.
Elsewhere, Japanese challenger Hiroyuki Hisataka lost a split decision the same day against Thai champion Denkaosan Kaowichit for the WBA flyweight crown in his second attempt at a world title held in Uttaradit, Thailand.
Denkaosan, who captured the title in a stunning second-round knockout of former champion Takefumi Sakata on New Year's Eve, was successful in his first title defense.
Hisataka was hoping to become the first Japanese challenger to win a world title bout overseas since WBA super lightweight champion Akinobu Hiranaka achieved the feat in Mexico in 1992 but instead became the 26th consecutive casualty.
Denkaosan improved to 47-1-1, including 20 knockouts.
"I was able to maintain my stamina up until the sixth round. I got hit with a lot of Hisataka's punches. If he punched harder, I might have been knocked out," Denkaosan said.
Hisataka, who slipped to 17-8-1 (six KOs), kept his distance as he tried to set up Denkaosan with a counterpunch and pushed the tiring Thai champion to the brink.
"He was an easy opponent for me. After hitting him with a big punch and piling on more he would escape in the clinch," Hisataka said. "It's too bad I wasn't able to win this match. I'd like to fight in Japan next."
[BASEBALL]
Wednesday, May 27, 2009
Knee injury sidelines Iwamura for season
CLEVELAND (AP) Tampa Bay Rays second baseman Akinori Iwamura will miss the rest of the season with a torn ligament in his left knee.
The Rays placed the infielder on the 15-day disabled list on Monday.
Manager Joe Maddon expressed sympathy for Iwamura.
"You feel for him," said Maddon, who received a three-year contract extension earlier Monday. "The rehab process is going to be difficult. We're going to miss him. He was probably playing as well as I've seen him overall."
Rays executive vice president of baseball operations Andrew Friedman said on a conference call that Iwamura will have surgery, likely in two or three weeks after swelling in the infielder's knee subsides.
Iwamura was injured trying to turn a double play in the eighth inning Sunday against the Florida Marlins and was carted off the field.
"They need to give it some time to stabilize," Friedman said. "It's a tough loss. Aki brings a lot to the team offensively, defensively and off the field.
Iwamura is in his third season with the Rays. In 44 games this year, he hit .310 (48-for-155) with no home runs, 16 RBIs and eight stolen bases in nine attempts.
With runners at first and second and one out in the eighth inning, Florida's Wes Helms hit a one-hopper to Rays pitcher Dan Wheeler, who threw to second. Iwamura took the throw for a forceout, and was ready to relay to first with his left foot planted when Chris Coghlan slid into him.
Iwamura pounded the grass in pain as teammates gathered around him, but after several minutes he sat up. Several Marlins also gathered around the second baseman, including Coghlan, who told Iwamura he was sorry.
Johjima sidelined
OAKLAND , Calif. (AP) Seattle catcher Kenji Johjima likely will be out for at least two weeks after breaking his left big toe on a play at the plate early in the Mariners' 6-1 loss to Oakland on Monday.
Johjima was hurt when Adam Kennedy slid into his foot while scoring the Athletics' first run in the first inning. Johjima stayed in the game and even homered in the second, but left the game in the third when his toe began to swell.
Postgame X-rays revealed the broken bone. Johjima probably will be out "at least a couple weeks," according to Seattle manager Don Wakamatsu.
Rob Johnson replaced Johjima, who began the day batting .241. The Mariners haven't decided how to replace Johjima on their roster.
[BUSINESS NEWS]
Wednesday, May 27, 2009
MHI opens in Kiev, Johannesburg
(Kyodo News) Mitsubishi Heavy Industries Ltd. said Tuesday it has set up offices in Kiev and Johannesburg for research and marketing as it anticipates growth in energy- and environment-related businesses.
Mitsubishi Heavy, noting that the government agreed in March to buy 30 million tons of greenhouse gas emission rights from Ukraine, said it expects business in transportation machinery and other machines to expand.
The company said it hopes the Johannesburg office will help it to cash in on business opportunities in such areas as nuclear and other power systems, construction and transportation equipment, and industrial machinery such as machine tools.
The company has had close business ties with South Africa and is participating in a program related to small nuclear power plants.
[BUSINESS NEWS]
Wednesday, May 27, 2009
Rio agrees to 33% iron ore price cut with Nippon Steel
MELBOURNE (Bloomberg) Rio Tinto Group, the world's second-largest iron ore exporter, agreed to a 33 percent cut in contract prices with Japanese steelmakers, the company said Tuesday, making it the first decline in seven years as the global recession slashes demand.
Nippon Steel Corp. agreed to pay Rio 97 cents a dry metric ton unit for its benchmark product in the year started April 1, London-based Rio said. Goldman Sachs had forecast a 40 percent drop from last year's record.
Rio's shares reversed a decline and rival Australian iron-ore exporters surged on optimism the agreement will set a global benchmark for contract prices, which had risen more than fivefold since 1999. Chinese steel mills, the world's biggest producers, are likely to resist the accord after calling for prices to be as much as halved.
"What looks like a pretty good deal might end up being a bit tougher when they come across the Chinese," said Mark Pervan, a senior commodity strategist at Australia & New Zealand Banking Group Ltd. in Melbourne. "Historically you could say this is a done deal, when Rio strikes with Nippon, well everyone follows, but I get a feeling maybe the Chinese have got something else in store."
The price accord is the second highest on record, according to Bloomberg calculations. "The fines settlement is better than most brokers expectations for a 35 to 40 percent fall," Marcus Padley, a broker at Paterson Securities Ltd., wrote in his trading newsletter.
Nippon Steel spokesman Hayato Uchida confirmed an agreement with Rio at the cited prices. JFE Holdings Inc., Japan's second-biggest steelmaker, agreed to the same prices, according to a company spokesman who declined to be named. Kobe Steel Ltd., Japan's fourth-largest producer, also reached an agreement for a 33 percent cut, said spokesman Ryuichi Nakagami.
Sumitomo Metal Industries Ltd., Japan's third-largest steelmaker, reached agreement with Rio on the same conditions, said spokesman Nobuaki Masuda.
Posco, Asia's third-biggest steelmaker, is still in talks with Rio, Choi Doo Jin, a spokesman for the South Korean company, said.
[BUSINESS NEWS]
Wednesday, May 27, 2009
Showa Shell eyes 10% slice of solar panels
(Compiled from Bloomberg, Kyodo) Showa Shell Sekiyu KK aims to secure a 10 percent share of the global solar panel market by the end of 2014, up from less than 1 percent now, the company announced Tuesday.
Showa Shell, a refiner and solar equipment maker, is targeting pretax profit excluding inventory valuations of 100 billion in 2014, according to a five-year business plan released to the Tokyo Stock Exchange. The solar business will earn half that total, the company expects, up from break-even earnings in the year ended December 2008.
Showa Shell posted 45.6 billion in group pretax profit in 2008, with most of the profit coming from the oil business.
The unit of Royal Dutch Shell PLC is diversifying from fuel production as Japan's petroleum demand declines because of a shrinking population and increased energy conservation by households and businesses. Showa Shell has two solar panel factories in Miyazaki Prefecture with combined production capacity of 80 megawatts a year.
[SPORTS]
Wednesday, May 27, 2009
Naito wins unanimous decision to retain title
(Kyodo News) Daisuke Naito won a unanimous decision over Xiong Zhaozhong of China on Tuesday to successfully defend the WBC flyweight title for the fifth time.
With the victory, Naito rewrote his own record for the oldest Japanese boxer to defend a world title at 34 years, 8 months. He improved his record to 35 wins, 22 by way of knockout, two defeats and three draws.
"I want to apologize for a poorly fought match but this was the extent of my ability. I still have a lot to work on," Naito said. "No one is weak in the world rankings. I didn't take my opponent lightly, but I realize how difficult boxing is."
The 10th-ranked Xiong, the first Chinese male to take a crack at a world title, slipped to 12-2-1 (eight KOs). But Xiong had Naito on the ropes at points in the bout and sent the champion to the canvas with a crushing right to the jaw in the sixth at Differ Ariake.
Naito, who never relented despite being cut above both eyes in the slugfest, also matched the late Masao Oba for the number of flyweight title defenses by a Japanese boxer.
The match was originally scheduled to take place the same day in Shanghai but it was switched to Tokyo just three days prior after negotiations between Naito's Miyata gym and its Chinese counterpart broke down.
Elsewhere, Japanese challenger Hiroyuki Hisataka lost a split decision the same day against Thai champion Denkaosan Kaowichit for the WBA flyweight crown in his second attempt at a world title held in Uttaradit, Thailand.
Denkaosan, who captured the title in a stunning second-round knockout of former champion Takefumi Sakata on New Year's Eve, was successful in his first title defense.
Hisataka was hoping to become the first Japanese challenger to win a world title bout overseas since WBA super lightweight champion Akinobu Hiranaka achieved the feat in Mexico in 1992 but instead became the 26th consecutive casualty.
Denkaosan improved to 47-1-1, including 20 knockouts.
"I was able to maintain my stamina up until the sixth round. I got hit with a lot of Hisataka's punches. If he punched harder, I might have been knocked out," Denkaosan said.
Hisataka, who slipped to 17-8-1 (six KOs), kept his distance as he tried to set up Denkaosan with a counterpunch and pushed the tiring Thai champion to the brink.
"He was an easy opponent for me. After hitting him with a big punch and piling on more he would escape in the clinch," Hisataka said. "It's too bad I wasn't able to win this match. I'd like to fight in Japan next."
[BASEBALL]
Wednesday, May 27, 2009
Knee injury sidelines Iwamura for season
CLEVELAND (AP) Tampa Bay Rays second baseman Akinori Iwamura will miss the rest of the season with a torn ligament in his left knee.
The Rays placed the infielder on the 15-day disabled list on Monday.
Manager Joe Maddon expressed sympathy for Iwamura.
"You feel for him," said Maddon, who received a three-year contract extension earlier Monday. "The rehab process is going to be difficult. We're going to miss him. He was probably playing as well as I've seen him overall."
Rays executive vice president of baseball operations Andrew Friedman said on a conference call that Iwamura will have surgery, likely in two or three weeks after swelling in the infielder's knee subsides.
Iwamura was injured trying to turn a double play in the eighth inning Sunday against the Florida Marlins and was carted off the field.
"They need to give it some time to stabilize," Friedman said. "It's a tough loss. Aki brings a lot to the team offensively, defensively and off the field.
Iwamura is in his third season with the Rays. In 44 games this year, he hit .310 (48-for-155) with no home runs, 16 RBIs and eight stolen bases in nine attempts.
With runners at first and second and one out in the eighth inning, Florida's Wes Helms hit a one-hopper to Rays pitcher Dan Wheeler, who threw to second. Iwamura took the throw for a forceout, and was ready to relay to first with his left foot planted when Chris Coghlan slid into him.
Iwamura pounded the grass in pain as teammates gathered around him, but after several minutes he sat up. Several Marlins also gathered around the second baseman, including Coghlan, who told Iwamura he was sorry.
Johjima sidelined
OAKLAND , Calif. (AP) Seattle catcher Kenji Johjima likely will be out for at least two weeks after breaking his left big toe on a play at the plate early in the Mariners' 6-1 loss to Oakland on Monday.
Johjima was hurt when Adam Kennedy slid into his foot while scoring the Athletics' first run in the first inning. Johjima stayed in the game and even homered in the second, but left the game in the third when his toe began to swell.
Postgame X-rays revealed the broken bone. Johjima probably will be out "at least a couple weeks," according to Seattle manager Don Wakamatsu.
Rob Johnson replaced Johjima, who began the day batting .241. The Mariners haven't decided how to replace Johjima on their roster.
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