Tokyo Stock Exchange

In its announcement on Tuesday, Toyota Motor (TYO: 7203) warned that its full-year profit is expected to decline by 80% that will mark the steepest fall in profit for the automaker in almost a decade. Toyota is currently struggling to cushion the economic blow from the Coronavirus pandemic that has brought the global auto industry to a near halt. COVID-19 had pushed the global automakers into temporarily suspending operations in recent months. Wh...

The Bank of Japan (TYO: 8301) (BOJ) boosted its monetary impetus at a Monetary Policy Meeting held on Monday. The one-day gathering was directed at supporting the government’s efforts to cushion the economy against the impact of the Covid-19 pandemic. Upon conclusion of the meeting, officials of the bank vowed to only “purchase a necessary amount of Japanese government bonds without setting an upper limit,” following in the footsteps...

The Coronavirus pandemic has weighed heavily on the global auto industry. Several manufacturers have recently reported a massive decline in sales. Owing to the same reasons, sources informed on Thursday that Nissan Motor (TYO:7201) has approached major lenders to seek £3.71 billion worth of credit line. Nissan has taken a massive hit due to the ongoing health crisis that has severely disrupted production and has brought global demand to a n...

SoftBank terminated its £2.43 billion ($3 billion) offer to purchase additional shares of the office sharing company, WeWork, last week. On Tuesday, The We Company (WeWork’s owner) announced to have sued the Japanese multinational conglomerate holding company over its recent decision. The We Company’s special committee said on Tuesday that terminating the offer, SoftBank has ignored its contractual obligations, as it filed a law...

In its statement on Thursday, SoftBank Group Corp (TYO:9984) announced to have terminated its tender offer worth £2.41 billion directed at purchasing WeWork’s additional shares. The deal was originally agreed with shareholders in 2019 after WeWork’s IPO (Initial Public Offering) failed. The recent move threatens litigation against SoftBank and expands the financial crisis for the office-sharing company.   The Japanese multi...

OneWeb has declared bankruptcy and laid off most of its staff yesterday as it couldn’t secure new investments, including from its major investor SoftBank (TYO:9984). The satellite internet company has been working on a network to deliver worldwide broadband and it blamed the ongoing coronavirus crisis for failing to secure new funding. “Our current situation is a consequence of the economic impact of the Covid-19 crisis. We remain convinced of th...