Archive for Japan

New Nissan Pay Problems Point to Conflicts at the Top – The New York Times

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“TOKYO — An outside law firm investigating problems at Nissan, the troubled Japanese automaker, this summer discovered some potentially explosive information.

Hari Nada, a powerful Nissan insider who was behind the ouster last year of Nissan’s chairman, Carlos Ghosn, over compensation issues, had been improperly overpaid himself, the firm found. A second insider involved in the corporate coup was responsible, the firm said, and had briefed Mr. Nada on what he had done.

A senior Nissan compliance officer planned to share the findings with the company’s board of directors, according to people familiar with the situation.

But the full board never heard the details of the findings, according to people who attended the board’s last meeting on Sept. 9. Moments after the meeting ended, Nissan issued a statement that cleared an unnamed group of executives of misconduct.”

Source: New Nissan Pay Problems Point to Conflicts at the Top – The New York Times

Posted in: Business and Finance, Japan

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Carlos Ghosn Is Out of Jail. What Happens Next? – The New York Times

“Carlos Ghosn, the man who created what was effectively the world’s largest carmaker, has been released on bail after spending more than three months in jail.

Mr. Ghosn once oversaw the alliance of Nissan, Renault and Mitsubishi and was the consummate high-flying executive. On Wednesday, he walked out of a Japanese detention center disguised as a construction worker to prepare for a trial on charges of financial misconduct. Under the terms of his bail — set at 1 billion yen, or almost $9 million — he cannot leave Japan.

Here is what has happened since his arrest and what he faces now.

Mr. Ghosn has been accused of underreporting his compensation and shifting more than $16 million of personal losses to Nissan. He was in jail, questioned by prosecutors, for 108 days.”

Source: Carlos Ghosn Is Out of Jail. What Happens Next? – The New York Times

 

 

Posted in: Business and Finance, Japan

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Opinion | Where the Cold War Never Ended – By Ian Buruma – The New York Times

Japan and South Korea stir up an old, odd rivalry.

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Mr. Buruma is a writer and a professor at Bard College.

CreditCreditOleksii Liskonih/iStock, via Getty Images Plus

“In a rational world, South Korea and Japan ought to be the best of friends. Their cultures and languages are closely linked. Their economies are deeply entangled. And as the only liberal democracies in East Asia (along with Taiwan), they have to contend with the threat of North Korean belligerence and Chinese domination.

But the world is not so rational, and so the two American allies have recently become engaged in a flaming economic row, ostensibly sparked by historical wrongs. Late last year, the South Korean Supreme Court ruled that Japanese companies should compensate Koreans who were forced to work in Japanese factories and mines during World War II. Assets of major Japanese companies, such as Nippon Steel and Mitsubishi Heavy Industries, have been seized in South Korea, and they could soon be sold. The Japanese government protested that this matter had already been resolved in 1965, when the two countries reached an agreement claiming to settle “completely and finally” all colonial-era claims in exchange for financial aid and loans from Japan worth $500 million.

Prime Minister Shinzo Abe of Japan retaliated last month by slapping controls on vital exports to South Korea. He cited reasons of national security, but few believe that. Demonstrators in Seoul then protested against a Japanese “economic invasion,” and the South Korean government threatened to stop sharing military intelligence with Japan.

This latest spat follows many others to do with history: the alleged lack of sincerity in official Japanese apologies for having subjected Korea to brutal colonial rule between 1910 and 1945; fights over revisions to school textbooks that downplay Japan’s wartime aggression; the refusal of conservative Japanese governments to admit that Korean women were systematically recruited to serve as sex slaves of the Japanese Imperial Army.”

Source: Opinion | Where the Cold War Never Ended – The New York Times

Posted in: Japan, Korea - North and South Korea

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Japan Would Make Akihito Emperor but She Called Him ‘Jimmy’ – By Motoko Rich – The New York Times

“There has been an emperor in Japan for more than 15 centuries, making the Chrysanthemum Throne the world’s oldest continuous monarchy. On Tuesday, the emperor stepped down, yielding to his eldest son in the first abdication in 200 years. This is the family’s story.

We know him as Akihito, the emperor of Japan, a gentle figure who championed peace in a nation devastated by war. But she called him Jimmy.

It was the autumn of 1946, a year after the end of the Second World War, and he was a 12-year-old boy, the crown prince of a defeated land, sitting in an unheated classroom on the outskirts of Tokyo. There, a new American teacher insisted on a more prosaic name for his highness. His father, the wartime emperor, Hirohito, had been revered as a god, but she made clear he never would be.

“In this class, your name is Jimmy,” declared the teacher, Elizabeth Gray Vining, a 44-year-old librarian and children’s book author from Philadelphia.

“No,” Akihito swiftly replied. “I am Prince.””

Source: Japan Would Make Akihito Emperor, but She Called Him ‘Jimmy’ – The New York Times

Posted in: Japan, Life Leadership and Sprituality

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Carlos Ghosn- Emerging in Public- Lays Out His Defense – By Motoko Rich – The New York Times

 

By Motoko Rich

“TOKYO — Carlos Ghosn and his lawyers are laying out the most comprehensive case yet for his innocence, nearly two months after his arrest shook the auto business and tarnished the reputation of an industry titan.

Still, it may not be enough to free him from jail for months, as prosecutors try to build a case against the ousted Nissan Motor chairman and onetime leader of an automaking juggernaut that builds more than 10 million cars annually.

Mr. Ghosn’s chief defense lawyer in Japan said on Tuesday that prosecutors had no basis for holding him in jail on allegations that he improperly transferred personal losses to Nissan’s books, saying that board members had approved the transactions.

Late Tuesday, that lawyer, Motonari Otsuru, submitted a request to the court to release Mr. Ghosn from detention on the grounds that Nissan did not ultimately bear any losses and that he was not a flight risk.”

Source: Carlos Ghosn, Emerging in Public, Lays Out His Defense – The New York Times

Posted in: Business and Finance, Japan

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 The Rise and Fall of Carlos Ghosn – by Amy Chozick and Motoko Rich – New York Times

“Carlos Ghosn was tired. At 64 years old, the chairman of an auto empire that spanned several continents and included Nissan, Renault and Mitsubishi wasn’t bouncing back from jet lag the way he used to. Melatonin wasn’t working anymore, and he had bouts of insomnia, phoning his children in the middle of the night or going on long walks around his Tokyo or Paris neighborhood. He planned to retire soon, stepping back from spending his life on an airplane, albeit a luxurious one paid for by Nissan.

Last month, just before Thanksgiving weekend, Mr. Ghosn headed to Tokyo to meet his youngest daughter and her boyfriend and attend a board meeting. He was scheduled to land at Haneda Airport at 4 p.m.

The daughter, Maya Ghosn, 26, had spent most of her childhood in Japan and wanted to introduce her boyfriend, Patrick, to her favorite places. Bringing a boyfriend home is a common rite of passage, but a particularly intimidating prospect when growing up Ghosn — a child of one of the most romanticized and ruthless chief executives the global business community has ever seen.

Ms. Ghosn had made a 7:30 dinner reservation at Jiro, the Michelin-starred sushi counter hidden in a basement in the city’s Ginza district.

On the tarmac in Beirut, Lebanon, Mr. Ghosn opened WhatsApp and texted his four children on a group chain labeled “Game of Ghosns,” for his favorite TV show, “Game of Thrones,” the bloody HBO drama about dynasties under siege. “On my way to Tokyo! Love you guys!” Mr. Ghosn texted as his jet lifted off.

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Police officers outside the Tokyo jail where Carlos Ghosn, the former head of Nissan, has been detained since his arrest in November.CreditCarl Court/Getty Images

He never made it to dinner.

On Nov. 19, Japanese prosecutors surrounded Mr. Ghosn’s Gulfstream after its arrival and arrested him on allegations that for years he had withheld millions of dollars in income from Nissan’s financial filings.”

Source: The Rise and Fall of Carlos Ghosn – The New York Times

David Lindsay:  This is a fascinating tragedy for Carlos Ghosn.  I have just scratched the surface. It appears, he never understood Japanese culture or values, and insulted both. He also did a great job turning around Nissan, when it needed a dose of change.

Posted in: Business and Finance, Japan

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Opinion | Don’t Fall for Facebook’s ‘China Argument’ – by Tim Wu – The New York Times

America’s global dominance in technology requires fierce competition at home, not the coddling of monopolies.

Tim Wu

By Tim Wu

Mr. Wu is a law professor who specializes in antitrust.

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CreditCreditAlex Merto

“Over the last year or so, Mark Zuckerberg of Facebook and other American tech leaders have issued a stark warning to those who want to see more competition in the industry. It goes something like this: “We understand that we’ve made mistakes. But don’t you realize that if you damage us, you’ll just be handing over the future to China? Unlike America, the Chinese government is standing behind its tech firms, because it knows that the competition is global, and it wants to win.”

This — Big Tech’s version of the “too big to fail” argument — has a superficial nationalistic appeal. It’s certainly true that the Chinese technology sector is growing and aggressively competitive, and that many of its companies are embraced and promoted by the Chinese state. By one count, eight of the world’s 20 largest tech firms are Chinese. That would seem to suggest a contest for global dominance, one in which the United States ought not be considering breakups or regulation, but instead be doing everything it can to protect and subsidize the home team.

But to accept this argument would be a mistake, for it betrays and ignores hard-won lessons about the folly of an industrial policy centered on “national champions,” especially in the tech sector. What Facebook is really asking for is to be embraced and protected as America’s very own social media monopolist, bravely doing battle overseas. But both history and basic economics suggest we do much better trusting that fierce competition at home yields stronger industries overall.

That’s the lesson from the history of Japanese-American tech competition. During the 1970s and into the ’80s, it was widely believed that Japan was threatening the United States for supremacy in technology markets. The Japanese giant NEC was a serious challenger to IBM in the mainframe market; Sony was running over consumer electronics, joined by powerful firms like Panasonic and Toshiba. These companies enjoyed the support of the Japanese state, through the Ministry of International Trade and Industry, which pursued a nationalistic industrial policy thought to be infallible.”

Source: Opinion | Don’t Fall for Facebook’s ‘China Argument’ – The New York Times

Posted in: Japan, Monopoly or Monopsony

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Suicides Among Japanese Children Reach Highest Level in 3 Decades – The New York Times

By Motoko Rich and Makiko Inoue

“TOKYO — Suicides by young people in Japan rose to their highest level in three decades in 2017, according to new figures released by the government.

Japan has a persistent problem with suicides, although the number has been declining over all. But child suicides have risen recently, with experts pointing to school pressures and bullying as likely triggers.

Last year 250 children in elementary, middle and high schools committed suicide, the highest number since 1986, according to data released last month by the Education Ministry.

According to the Education Ministry survey of schools, most of the students did not leave any explanation for why they decided to take their own lives. Of those who did, the most frequently cited reason was worries over what path to take after graduation. Other reasons included family problems and bullying.”

Source: Suicides Among Japanese Children Reach Highest Level in 3 Decades – The New York Times

David Lindsay: Apparently, the schools do not have a School Counselor, like American public schools all do.

Posted in: Japan, Science

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Europe and Asia Move to Bolster Global Systems That Trump Has Attacked – By Steven Erlanger and Jane Perlez – NYT

 July 18, 2018 134 查看本文简体中文版查看本文繁體中文版

BRUSSELS — From trade to regulation to security, America’s traditional allies are accelerating their efforts to buttress a global system that President Trump has seemed prepared to tear down.

After months of stunned indecision, they have undertaken a flurry of efforts intended to preserve the rules-based order the United States created after World War II and championed ever since.

The most obvious example came on Monday, the same day a stunned world watched Mr. Trump praise President Vladimir V. Putin of Russia as a competitor after having dismissed Europe as an economic “foe.” A few thousand miles away, in Beijing, the leaders of the European Union and China held a long-scheduled meeting of their own.

In the past, expectations for such meetings were low, given the conflicts on trade and human rights between the Europeans and the Chinese. But while those differences remain, this summit meeting produced an unusual joint declaration and a common commitment to keep the global system strong.

The next day, the Europeans traveled to Japan and signed the biggest free-trade agreement in history, just the sort of deal the Trump administration has criticized.

And on Wednesday, Europe’s top regulator announced a $5.1 billion fine against Google, another strong indication that Brussels is not just fighting to maintain the rules-based trading order, but is also positioning itself as the watchdog of that system.

After months of denialangerbargaining and depression, Europe and other parts of the world have accepted that Mr. Trump and his mission of disruption are not going away.”

Source: Europe and Asia Move to Bolster Global Systems That Trump Has Attacked – The New York Times

Posted in: China, Globalization and Trade, Japan

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122 Pregnant Whales Were Killed in Japan’s Latest Hunt. Was This Illegal? – The New York Times

By Tacey Rychter      

“More than 120 pregnant female whales were among 333 killed during Japan’s recent annual summer hunt off the coast of Antarctica, according to a new report.

The report, released by the International Whaling Commission this month, said 122 of the slaughtered minke whales were pregnant and 114 were considered immature.

The last hunting season in the Antarctic for Japan ran from Dec. 8 to Feb. 28.

Conservationists said the new report was further evidence that Japan was killing whales for commercial purposes under the guise of scientific research.”

Source: 122 Pregnant Whales Were Killed in Japan’s Latest Hunt. Was This Illegal? – The New York Times

Posted in: Japan, The Sixth Extinction of Species

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