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World Business Quick Take

■ Computers
IBM to sell printer branch
Japan's Ricoh plans to buy IBM's digital business printer operations for US$700 million in April, becoming the world's largest maker in the segment, a newspaper reported yesterday. With the purchase, the Japanese office equipment maker aims to tap growing demand for printers that can receive data from computers directly and churn out large volumes of documents, the Nikkei business daily said. Under the plan, Ricoh would take over all global sales and maintenance service divisions of IBM's digital business printer business, the newspaper said, without citing sources. It would also obtain IBM's employees and engineering staff engaged in developing printing software, it said.

■ Exports
Japan's trade surplus down
Japan said yesterday that its trade surplus shrank 7 percent last year, declining for a second straight year as China takes over the mantle of the world's top exporter of manufactured goods. However, the surplus grew last month, the second straight monthly increase, as the appetite in the US for Japanese cars remained robust, officials and analysts said. The fall for last year was mainly caused by the high cost of oil as energy imports offset exports of cars and semiconductors, the finance ministry said in a preliminary report. Japan's trade surplus came to ?8.09 trillion (US$66.8 billion) last year, the second year it came below China which posted a record US$177.47 billion surplus.

■ Computers
Protesters want chip plant
A South Korean Member of Parliament and several local legislators shaved their heads yesterday in protest of the government's refusal to let the world's second-largest chipmaker build a new plant in their district. The commerce and industry ministry on Wednesday rejected an application by Hynix Semiconductor to expand its main manufacturing site at Icheon. The JoongAng Daily, in an editorial, said the reason was a policy encouraging development in outlying provinces. The state cited environmental concerns.

■ Electronics
Best Buy set on China
US electronics chain Best Buy Co plans to open one or two more stores in China over the next year following the opening of its Shanghai flagship outlet, company executives said yesterday. The expansion is part of a broader strategy of making Best Buy Co, the top US electronics chain, a "global retailer," vice chairman Allen Lenzmeier said. Although China is at the top of the list, Best Buy is also looking at other markets, Lenzmeier said. The electronics giant opened its first China store in Shanghai's busy Xujiahui shopping district a month ago and plans a formal grand opening ceremony today.

■ Automobiles
Hyundai posts profit drop
South Korea's leading automaker Hyundai Motor said yesterday it suffered a sharp drop in profit last year because of strikes and the won's rise against the US dollar. Net profit plunged 34 percent year-on-year to 1.53 trillion won (US$1.63 billion). Operating profit fell 11 percent to 1.23 trillion. Sales dropped 0.2 percent to 27.34 trillion won last year from 27.38 trillion won in 2005. A stronger won made cars more expensive for foreign buyers and eroded the value of earnings abroad when converted into won.

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