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Tag: Japan

  • KDDI, Terra Drone launch drone asset inspection service

    KDDI, Terra Drone launch drone asset inspection service

    Japan’s KDDI and industrial drone solutions provider Terra Drone have jointly launched a new drone inspection services for industrial infrastructure.

    The jointly developed solution involves using a drone to generate a 3D, high resolution model of heavy industrial assets such as wind turbines, telecom and transmission steel towers, smokestacks, and bridges.

    The drone will use the model to determine which components should be inspected, allowing the drone to shoot the inspection points from optimal angles and range designated by the Terra Inspection software.

    It uses mobile networks to transmit data back to inspection crews and to allow operators to remotely plan flight paths based on weather databases and maps.

    The solution also has potential applications in areas beyond asset inspection, such as large area surveillance, land surveying or precision farming.

    KDDI and Terra Drone jointly developed the underlying Smart Drone platform, and have developed a number of solutions based on the platform since 2016.

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  • SoftBank may invest in Reliance Jio

    SoftBank may invest in Reliance Jio

    Japan’s SoftBank is reportedly in talks to invest up to $3 billion in fast-growing Indian operator Reliance Jio Infocomm.

    SoftBank’s Vision Fund is involved in due diligence on the prospect of the purchase of a stake in Jio  that could be worth $2 billion to $3 billion, unnamed sources told.

    The SoftBank Vision fund has raised $100 billion as part of plans to invest in fast-growing scalable technology companies with transformative potential. Former Deusche Bank executive Rajeev Misra has been appointed to lead the vision fund.

    Neither Softbank nor Jio would comment publicly for the report, so the potential for a deal remains unconfirmed for now.

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  • Softbank To Buy Wirecard Shares

    Softbank To Buy Wirecard Shares

    Japan’s Softbank Group will purchase a 5.6 percent stake in German payments company Wirecard by acquiring convertible bonds worth about 900 million euros ($1 billion), Wirecard said in a statement on Wednesday.

    «As global innovators, we focus heavily on expanding our networks and creating opportunities for companies with groundbreaking ideas. In SoftBank, we have found a partner that shares both our passion for new technologies and drive to spearhead the latest innovations, all on a global scale,» said Markus Braun, CEO at Wirecard.

    The two companies said they had also signed a memorandum of understanding for a strategic tie-up in providing digital solutions. SoftBank will help Wirecard expand into Japan and South Korea, and provide collaboration opportunities in digital payments, data-analytics/AI and innovative digital financial services within the Japanese firm’s portfolio companies

    As part of the deal, Wirecard said it shall issue convertible bonds with a term of five years exclusively to an affiliate of SoftBank, convertible to 6,923,076 million ordinary shares at 130 euros per Wirecard share. The issuance of the convertible bonds is subject to shareholders’ approval at its annual general meeting on June 18, Wirecard said.

    The investment comes amidst the payment firm’s ongoing defense against Financial Times newspaper reports this year saying staff at its Asian operations had inflated reported revenue.

    Last month, Wirecard said an outside law firm investigating the matter found the local staff at its Singapore office may have committed crimes, but these were not material to the German payment company’s financial position.

    Credit Suisse is serving as financial adviser to SoftBank and Sullivan & Cromwell LLP as legal adviser. Noerr LLP and Gibson, Dunn & Crutcher LLP are serving as legal advisers to Wirecard.

  • Docomo, Itochu Logistics test IoT for delivery-fleet management in US

    Docomo, Itochu Logistics test IoT for delivery-fleet management in US

    Japan’s NTT Docomo and Itochu Logistics are planning to trial an IoT solution for delivery fleet management in the US.

    The solution uses devices compatible with low-power, wide-area LTE-M technology to track the status of outsourced trucks in their fleets.

    The trial will begin in the United States on May 1, 2019.

    According to the companies, the solution involves placing hand-held, battery- or solar-powered devices in trucks to collect data, such as truck locations and frequency of sudden braking, which will be sent through an LTE network to a dedicated website.

    The solution can also provide temperature, humidity, brightness, etc. data depending on delivery needs, as well as notify customers via email when the trucks approach their destinations.Itochu Logistics USA expects to save time using the solution compared to the conventional method of manually phoning drivers to confirm their locations and estimated delivery times.

    The solution will be tested for its effectiveness in supporting the management and safety of truck fleets at Itochu Logistics USA’s delivery-trick network and logistics system.

    “While most delivery trucks are equipped with GPS devices, the location data typically is available to the owner but not to logistics/transport companies that retain the trucks on an outsourced basis,” the companies said.

    “The solution’s easily deployed LTE-M devices, however, will give logistics/transport companies dedicated access to location and other useful information about trucks operating temporarily in their fleets.”

    The trial is part of the Globiot global-IoT initiative that Docomo launched on July 2, 2018.

    The Japanese mobile giant said it expects the solution will be marketed widely throughout US, Japan, and Asia.

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  • Ebay Buying in India’s Paytm Mall

    Ebay Buying in India’s Paytm Mall

    International e-commerce platform Ebay is preparing to head a US$160–170 million investment in e-tailer Paytm Mall.

    In a report last Monday, the move was interpreted as a grab at O2O commerce and payments opportunities in India. It will be the third major e-commerce investment in the territory for the firm following its minors stakes in Flipkart and Snapdeal.

    Paytm Mall raised about US$215 million from Japan’s SoftBank and existing investor Alibaba mid last year, at a valuation of $1.6–2 billion. It has raised roughly $645 million in funding to date.

    The firm has a minority segment of the Indian market, which is largely dominated by its two biggest competitors Amazon and Flipkart.

  • Toyota Establishes Research Institute In China To Study Hydrogen

    Toyota Establishes Research Institute In China To Study Hydrogen

    Japan’s Toyota Motor said on Sunday it was setting up a research institute in Beijing in partnership with Tsinghua University to study car technology using hydrogen power and other green technologies that could ease environmental problems in China. The initiative, outlined by Toyota’s President and Chief Executive Akio Toyoda in a speech at Tsinghua University, is part of the Japanese carmaker’s efforts to share more technology with China as it seeks to expand its business in the country by beefing up manufacturing capacity and distribution channels, a source close to Toyota said.

    The Tsinghua-Toyota Joint Research Institute will conduct research into cars and new technology to solve environmental problems in China, including reducing traffic accidents, Toyota said in a statement.The institute will “cooperate in research not only related to cars for Chinese consumers, but also in research related to active utilization of hydrogen energy that can help solve China’s energy problems,” the company said.

    The move dovetails with Toyota’s announcement this month that it would offer carmakers and suppliers around the world free access to nearly 24,000 patents for electric vehicle technologies.

    Executive Vice President Shigeki Terashi told Reuters earlier this month that the automaker intended to become a tier 2 supplier of hybrid systems and that it had already received enquiries from more than 50 companies.

    Later on Monday, Toyota said that it had started to supply fuel cell vehicle parts to Chinese commercial vehicle maker Foton and SinoHytec, without giving financial details of the deal. The company said in a statement that it hopes to cooperate with more companies in China to promote fuel cell vehicle penetration in China.

  • Acne Studios re-opens Tokyo Store

    Acne Studios re-opens Tokyo Store

    Fashion brand Acne Studios has reopened its Shibuya concept store in Tokyo to coincide with the launch of a new collection.

    The company, part-owned by Hong Kong fashion retail operator I.T Group, has released a new range of leather accessories at the Shibuya store in Tokyo, which since 2017 has been used to showcase new collections.

    The 68sqm “project store” was redesigned by Kasthall. Centrestage is a capsule collection which includes new versions of the brand’s two most popular bags, Musubi and Baker, as well as small leather goods, card holders, keychains and wallets.

    The collection will be on sale at the store for the next year.

    The majority shareholding of Acne Studios recently changed, with Oresund, Creades and Pan Capital funds stakes acquired by IDG Capital and I.T Group, reflecting a deliberate strategy to shift focus towards Asia.

    Hong Kong, South Korea and Japan each host a series of Acne Studio stores and there are shops in Beijing, China, with another scheduled to open in Chengdu this month.

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  • Cineleisure Unveils Fresh New Look With Stylishly Modern Interiors And New Concepts

    Cineleisure Unveils Fresh New Look With Stylishly Modern Interiors And New Concepts

    Cineleisure, the destination mall managed by Cathay Organisation, is proud to unveil its refreshed look, while welcoming three new and exciting concepts.

    Forming a striking visual interplay of colours and textures, the revamped Cineleisure reveals interiors fitted with concrete juxtaposed against rustic wood timber.  The playful balance between gritty accents and polished design, with a purposeful blend of warm earthy hues and cool steel palettes,  add a distinctively dynamic element to the popular youth-oriented mall.

    The pairing of fun and playful elements also extends to its eclectic mix of food, fashion, and entertainment tenants. This April, Cineleisure welcomes the addition of three new and hotly anticipated concepts—Tenkaichi Japanese BBQ and Shabu Shabu, The Alley Luxe, and Amazing Castle, of which the latter two are making its debut in Singapore.

    NEW TENANTS

    The Alley Luxe (#02-06A/B)

    Opening its very first flagship store in Singapore at Cineleisure, famed Taiwanese bubble tea chain—The Alley, is set to cause ripples in the local food and beverage scene with its iconic artisanal tea. With more than 300 outlets globally, The Alley has taken the world by storm with its signature and highly “Instagrammable” Brown Sugar Deerioca beverage packed with Deerioca tapioca pearls that are made from scratch.

    The flagship store in Cineleisure will also feature the first-ever premium lifestyle café concept for The Alley – The Alley Luxe, which showcases the brand’s finest collections of beverages alongside an array of exquisite European-inspired treats such as croissants and cruffins.

    Tenkaichi Japanese BBQ & Shabu Shabu (#02-11)

    Tenkaichi promises both authenticity and affordability for a gourmet Japanese Yakiniku experience. Hungry shoppers can expect a premium buffet at just S$59.90, which includes a free flow of Tenkaichi’s signature grilled Wagyu Beef that are hand sliced and freshly served on order. Alternatively, for a limited time only, shoppers can opt for its value-for-money and irresistible S$10 Donburi sets, ranging from Chirashi Don, Wagyu Beef Yakiniku Don, Hotate Mentai Mayo Don and Cheesy Chicken Teriyaki Don.

    Amazing Castle (#02-04A/05)

    The first of its kind in Singapore and in Asia, Amazing Castle is a massive kingdom-themed entertainment play centre consisting of nine different activity stages. Based on the legend of a fairy kingdom being attacked by invaders, each activity stage features a physically-interactive game for participants to confront challenges and fight off invaders. This innovative play centre guarantees a whole load of fun as participants unleash their inner child and turn their battle mode on as they progress through stages as a team.

    NEW CATHAY LIFESTYLE MALL REDEMPTION MOBILE APP

    Offering a rewarding shopping experience, Cineleisure introduces the Cathay Lifestyle Mall Redemption Mobile App, which allows savvy shoppers to make redemptions seamlessly anywhere, anytime. Shoppers who spend a minimum amount at the mall simply have to take and submit a photo of their spending receipt through the app. Upon verification, they can redeem e-vouchers to be used at participating shops to enjoy a discount.

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  • Vietnam’s exports to Japan increase rapidly in Q1

    Vietnam’s exports to Japan increase rapidly in Q1

    Elimination of many tariff lines for goods under the CPTPP has helped Vietnam’s exports to Japan increase sharply in the first quarter of this year, according to the General Department of Customs.

    Vietnam’s export value to Japan in the first quarter surged 6.7 per cent year on year to US$4.6 billion, the general department said. Việt Nam became one of three markets gaining an export value in the billions of US dollars to Japan, after the US and China.

    In March 2019 alone, the export value to Japan reached $1.7 billion, a sharp increase of 62.3 per cent month on month and a surge of 2.7 per cent year on year.

    The strong growth in Vietnam’s export value to Japan was attributed to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). According to this agreement, Japan for the first time has pledged to completely eliminate tariffs for the majority of Việt Nam’s agricultural and seafood products exported to this market.

    That meant Japan immediately abolished 86 per cent of tariff lines, equivalent to 93.6 per cent of Việt Nam’s export value to Japan, and then this figure will increase to 90 per cent of tariff lines within five years.

    On the other hand, the Việt Nam-Japan and ASEAN-Japan free trade agreements have created advantages in tariffs for some of Việt Nam’s seafood products exported to Japan.

    About 62.5 per cent of Vietnam’s total goods items exported to Japan in the first quarter gained strong growth compared to the same period last year, according to the general department.

    The major export products to Japan included textiles (export value of about $900 million), means of transport and spare parts ($630 million), machinery and equipment ($450 million) and seafood products ($306 million).

    Especially, the fertiliser exports to this market had a sudden growth in the first quarter of 2019 to 8,126 tonnes, earning $3.7 million. The exports rose up by five times in volume and about 11 times in value year on year.

    In addition, Vietnam saw strong growth in exports of some goods to Japan in the first quarter, including chemical products (up 70 per cent), animal feed and raw materials (up 56.8 per cent), ore and minerals (up 52 per cent), all kinds of steel (up 49 per cent) and plastic materials (up 43 per cent).

    Meanwhile, Japan sharply reduced imports of cassava and cassava products from Vietnam, with a reduction of 99.6 per cent in volume and 98.5 per cent in value over the same period, despite the average export price of cassava surging by 3.3 times to $886 per tonne.

    In 2018, Vietnam’s goods export value to Japan reached more than $18.8 billion. Textiles and garments accounted for the largest proportion with over 20 per cent of the total export value. Meanwhile, seafood, furniture and footwear respectively hold 7.4 per cent, 6.1 per cent and 4.5 per cent.

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  • Docomo to cut mobile rates by up to 40%

    Docomo to cut mobile rates by up to 40%

    Japan’s NTT Docomo has announced a new simplified mobile service fee structure that the operator says will reduce mobile charges by between 20% and 40%.

    The operator plans to completely separate handset and service fees and unify voice, SMS and data charges in response to criticism that its existing plans have been too complicated and hard to understand.

    The new plans are divided into two categories – a “Gigalight” plan which will charge based on data consumed, and a flat rate “Gigaho” plan for heavy data users.

    Docomo also plans to start offering family discounts of 500 yen ($4.46) per month for contracts covering two family members, and 1,000 yen per month for contracts with three or more members.

    Docomo’s new fee structure is also a response to pressure from the Japanese government on operators to reduce mobile service fees to bring them in line with prices in comparable markets.

    The operator expects that the new fee structure could reduce its income by as much as 400 billion yen ($3.6 billion) per year.

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  • UOB Lends For Largest Logistics Parks In Japan

    UOB Lends For Largest Logistics Parks In Japan

    United Overseas Bank has provided a financing facility for a real estate platform to acquire prime Tokyo Bay land with the purpose of building one of the largest master-planned logistics parks in the country.

    The Singapore bank on Tuesday announced that its Tokyo branch has signed an agreement to provide a non-recourse $179 million (20 billion yen) financing facility to ESR’s entities so that the real estate developer can acquire land in Yokohama, Kanagawa Prefecture, Japan. Last month, ESR announced that it has bought land in Yokohama for the purpose of building one of the largest master-planned logistics parks in Japan.

    «Through harnessing our product expertise and the strengths of our established regional network, we are committed to helping ESR expand its presence in the Asia Pacific. We look forward to extending our support to include cash and risk management solutions to assist ESR in optimizing its cross-border business operations and cash flow,» said Lim Lay Wah, Head of Global Financial Institutions Group, UOB, in a media statement.

    The transaction marks the first collaboration between UOB and real estate platform ESR in Japan, both companies said. ESR Sachiura TMKs are the onshore entities incorporated in Japan for the purpose of developing the ESR Yokohama Distribution Centre (ESR Yokohama DC) project, one of the largest master-planned logistics parks in the country.

    «With the support of UOB and other leading institutional investors, we are set to build ESR Yokohama DC as a flagship development not only for ESR’s growing network of best-in-class facilities but also for the burgeoning Japanese logistics property market,» said Stuart Gibson, co-CEO of ESR.

    Located within the Greater Tokyo Bay area with swift access to Tokyo’s central business district and major logistics infrastructure, ESR Yokohama DC will initially comprise two modern, four-story logistics facilities incorporating ESR’s human-centric design and state-of-the-art building specifications.

    With a total gross floor area of 393,226 sqm out of a total buildable area of over 700,000 sqm on site, the project is expected to be one of the largest multi-phased logistics parks currently under development in Japan in both size and value. The total investment for the first phase development is estimated to be more than $1 billion.

    In addition to the loan from UOB, ESR will use the equity investments from its capital partners, including Equity International and a major US pension fund, to fund the land acquisition. ESR is the largest Asia-Pacific focused logistics real estate platform by gross floor area (GFA) and by the value of the assets owned directly and by the funds and investment vehicles it manages.

    Cofounded by its senior management team and Warburg Pincus, ESR and the funds and investment vehicles it manages are backed by preeminent investors including APG, SK Holdings, JD.com, CLSA, Goldman Sachs, CPPIB, Ping An and Allianz Real Estate.

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  • Cebu Pacific to launch flights Between Clark, Philippines and Narita

    Cebu Pacific to launch flights Between Clark, Philippines and Narita

    Cebu Pacific has unveiled plans to launch flights from its rapidly growing hub in Clark, Philippines to Narita Airport.

    The airline will operate four flights per week between Clark and Narita on Mondays, Wednesdays, Fridays and Sundays, beginning Aug 9.

    Cebu Pacific will also begin direct flights between its hubs in Clark and Iloilo; as well as between Clark and Bacolod on Aug 9; as well as daily flights between Clark and Puerto Princesa in Palawan by Oct 9 October 2019.

    The four new routes will boost Cebu Pacific’s total capacity in Clark by 40% in 2019 alone, following a 75% increase in 2018 with the launch of direct flights to and from Davao and Panglao (Bohol); as well as additional frequency for the Clark-Macau route.

    “There is so much untapped potential in Clark, and we are committed to expanding our Clark hub to expand tourism, trade and investment opportunities. This will open up the areas around Clark to more investors and entrepreneurs,” said Candice Iyog, Vice President for Marketing and Distribution of Cebu Pacific.

    With a population of over 23 million in its catchment area, Clark International Airport is one of Asia’s fastest-growing airports, with passenger volume reaching about 2.5 Million in 2018.

    Cebu Pacific has been operating flights in and out of Clark since 2006 and today has direct flights to Cebu, Caticlan, Tagbilaran, Davao, Singapore, Macau and Hong Kong.

    “With direct air service between Clark and Narita, it will be easier for Japanese tourists to access destinations in Pampanga, Pangasinan, Baguio, La Union and the rest of Luzon. Conversely, it will also be easier for residents in these areas to enjoy Tokyo, with a direct flight from Clark,” added Candice Iyog.

    Japan is one of the Philippines’ top sources of inbound tourists, with 631,801 Japanese visiting the country in 2018.

    In 2018, Cebu Pacific flew 20.3 million passengers on over 2,130 weekly flights across 37 domestic and 26 international destinations.

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  • Uniqlo Parent Cuts Financial Outlook

    Uniqlo Parent Cuts Financial Outlook

    Uniqlo parent Fast Retailing has cut its annual operating forecast amid heavy discounting to offload winter clothes.

    The apparel company has struggled with a shortage of popular winter items in the past, and overcompensated last winter by ordering too much inventory.

    The unseasonably warm weather hit sales of winter clothes which led to the decline of Fast Retailing’s first quarter profit.

    The company is undergoing the biggest revamp of its logistics and supply chain network to resolve the challenge it faced over winter.

    The Japanese retailer said it now expects an operating profit of  ¥260 billion (A$3.2 billion) for the financial year through August, compared to its previous forecast of  ¥270 billion in January. The revised outlook would still be a record high and represent a 10 per cent year-on-year rise.

    For the quarter ending February, Fast Retailing posted a double-digit increase in sales and profit in China, which has helped the brand turn in a better-than-expected rise in operating profit to ¥68 billion.

    The company reported declines in both revenue and profit in the first half of fiscal 2019, with revenue totaling ¥491.3 billion yen, down 5 per cent from the previous corresponding period, and operating profit totaling ¥67.7 billion yen, down 23.7 per cent from the previous year.

    First-half same-store sales, including online sales, declined 9 per cent.

    Online sales, which now account for 9.9 per cent of Uniqlo sales in Japan and 20 per cent in China, rose 30.3 per cent in the first half.

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  • Greater China and South Korea drive Massive Uniqlo sales

    Greater China and South Korea drive Massive Uniqlo sales

    Heavy discounting necessary to offload winter stock has hit Uniqlo sales. Parent Fast Retailing has struggled with a shortage of popular winter items in the past, and overcompensated last winter by ordering too much inventory ahead of what proved to be an unusually warm season.

    As a result, the Japanese retailer’s first-quarter profit took a hit which in turn impacted of first-half results issued yesterday.

    The company reported declines in both revenue and profit in the first half of the current financial year, with revenue totaling ¥491.3 billion, (US$4.397 billion) down 5 per cent from the previous corresponding period, and operating profit totaling ¥67.7 billion ($606 million), down 23.7 per cent from the previous year. Same-store sales fell 9 per cent, however online sales, which now account for 9.9 per cent of Uniqlo sales in Japan and 20 per cent in China, rose 30.3 per cent.

    The weak first quarter for Uniqlo sales was in part compensated for by a double-digit increase in sales and profit in China, which helped the brand turn in a better-than-expected rise in operating profit to ¥68 billion ($609 million) for the three months to February.

    The company said it now expects an operating profit of ¥260 billion for the financial year through August, compared to its previous forecast of  ¥270 billion in January. The revised outlook would still be a record high and represent a 10 per cent year-on-year rise.

    Uniqlo re-stated its medium-term vision of becoming the world’s number one apparel retailer.

    “In pursuit of this aim, we are focusing our efforts on expanding Uniqlo International and our GU casual fashion brand,” said Tadashi Yanai, chairman, president and CEO of Uniqlo. “We continue to increase Uniqlo store numbers in each country in which we operate, and open global flagship stores and large-format stores in major cities around the world to further develop Uniqlo as a global brand.”

    He said that within the company’s international division, Greater China and Southeast Asia are entering “a new stage of growth as key drivers of operational expansion”.

    Uniqlo Greater China generated double-digit growth in both revenue and profit in the first half of the year despite the dampening effect of the mild winter weather.

    “Within that region, our operation in Mainland China continued to report strong growth in revenue and profit of approximately 20 per cent year on year. Uniqlo South Korea also reported increases in both revenue and profit. Uniqlo Southeast Asia & Oceania generated significant rises in both revenue and profit thanks to strong increases in same-store sales in every single one of the region’s markets.

    Meanwhile, the company plans to open more GU stores in Japan, while expanding the brand’s international presence, primarily in Greater China and South Korea.

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  • Japanese telcos assigned 5G spectrum

    Japanese telcos assigned 5G spectrum

    Japan’s telecom ministry has allocated 5G mobile spectrum to incumbent operators NTT Docomo, KDDI, and Softbank, as well as local e-commerce giant Rakuten.

    The Ministry of Internal Affairs and Communications has approved the allocation of spectrum after determining that the companies’ applications met the conditions of the allocation.

    The four companies plan to invest heavily in 5G, spending a combined 1.6 trillion yen ($14.4 billion) over the next five years. Docomo is planning the largest spend, with goals to invest at least 795 billion yen in 5G over this time.

    The four plan to commence commercial 5G services in 2020, with KDDI and SoftBank planning to commence advertising for its services in March.

    Rakuten Mobile, Japan’s upcoming newest market entrant, meanwhile plans to commence 4G services in October 2019 and 5G services in June 2020.

    The conditions for the allocation of spectrum included commitments to commence services in every prefecture of the nation within two years, and set up 5G base stations in at least half the country within five years.

    According to the report, Docomo and KDDI are each targeting more than 90% 5G population coverage by the end of the five years, while SoftBank is targeting 64% coverage while Rakuten is aiming for 56%.