JAPAN
Fuel prices curb inflation
Core inflation, excluding volatile fresh food prices, edged up 0.1 percent last month from the previous year, official data showed yesterday, while excluding food and energy, prices rose 0.6 percent — both well short of the Bank of Japan’s 2 percent target. Lower fuel prices and other energy costs helped curb inflation, the Ministry of Internal Affairs and Communications data said. Meanwhile, the ministry said household spending fell 2 percent in June against market expectations for another rise after a 4.8 percent increase in May. The May figure was the first monthly rise since Japan increased sales taxes in April last year to help pay down its huge national debt.
AUTOMAKERS
Honda posts higher profit
Honda Motor Co yesterday reported a 20 percent jump in fiscal first-quarter profit on the back of a cheap yen that offset the damage from a massive air bag recall. April-to-June net profit totaled ¥186 billion (US$1.5 billion), up from ¥155.6 billion in the same period the previous year, the company said. Quarterly sales gained nearly 16 percent to ¥3.7 trillion. Honda left its forecasts unchanged, projecting a ¥525 billion profit for the fiscal year through March next year. That would mark a 3 percent year-on-year rise. It expects to sell 4.7 million vehicles around the world for the fiscal year, up from nearly 4.4 million vehicles in the previous fiscal year.
ELECTRONICS
Sharp Corp losses widen
Sharp Corp said yesterday its net loss widened in the three months to June, as the embattled electronics firm struggles through a restructuring, and weak sales of its display panels and smartphones. Osaka-based Sharp reported a ¥33.98 billion shortfall, well up from ¥1.79 billion in the same period the previous year. The company kept a target of ¥80 billion in operating profit on sales of ¥2.8 trillion for the fiscal year through March next year. It did not give a net profit target, citing uncertain restructuring costs.
RETAILERS
Carrefour posts higher profit
Carrefour SA, France’s largest retailer, reported higher first-half profit as revenue strengthened in Europe, with sales in its home market rising for the third consecutive year. First-half recurring operating income rose 1.3 percent to 726 million euros (US$795 million), Boulogne-Billancourt-based Carrefour said yesterday in a statement. The grocer left its guidance unchanged. It said this month that a 2.51 billion euros to 2.53 billion euros consensus range for full-year recurring operating income was reasonable.
AVIATION
US dollar boosts Airbus
Plane maker Airbus Group SE said yesterday its net profit rose 5 percent in the second quarter to 732 million euros. Profits were dented by a 290 million euros charge related to the May 9 crash of an A400M transport plane in Spain that killed four crew members. Revenue rose 16 percent in the second quarter to 16.81 billion euros, boosted by the stronger US dollar. Airbus chief executive Tom Enders said the company was on track to achieve its earnings forecast for the year amid healthy demand for commercial aircraft. He said the company was focusing on stepping up production of the A400M and its A350 wide-body passenger jet. Airbus shares rose 3.8 percent to 64.80 euros in morning trading in Europe.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI