Economic

Japan auto industry teams up for maximum benefit from trade deals

TOKYO — Toyota Motor, Honda Motor, Denso and six other Japanese automotive companies will cooperate in applying for reduced tariffs under free trade agreements Japan has signed with other countries and territories, Nikkei has learned.

Exports to economies which have free trade or economic partnership agreements with Japan are qualified for reduced tariffs under specific conditions, but the research required to apply can take as long as 11 months, thus delaying the start of the benefits and costing companies money.

By introducing a unified application system, the auto and parts makers are aiming to shorten the process to about seven

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Japan automakers team up for maximum benefit from trade deals

TOKYO — Toyota Motor, Honda Motor, Denso and six other Japanese automotive companies will cooperate in applying for reduced tariffs under free trade agreements Japan has signed with other countries and territories, Nikkei has learned.

Exports to economies which have free trade or economic partnership agreements with Japan are qualified for reduced tariffs under specific conditions, but the research required to apply can take as long as 11 months, thus delaying the start of the benefits and costing companies money.

By introducing a unified application system, the auto and parts makers are aiming to shorten the process to about seven

Read More

K-pop and comics drive Naver’s strategy beyond Line-Yahoo merger

SEOUL — When South Korean boy band Super Junior held a concert on Naver’s V Live streaming service May 31, they performed to an empty hall. Instead, the stage backdrop changed to show video feeds from cheering fans around the world.

A ticket cost 33,000 won ($27) — not cheap for a two-hour online event. Yet the concert drew 123,000 viewers from 100 countries.

The concert highlights Naver’s pivot toward entertainment as the South Korean tech company seeks inroads into the U.S. and Europe, markets it struggled to crack with its flagship Line chat app.

This fall, Line will merge

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Oyo chief confident of weathering pandemic despite 50% revenue drop

TOKYO — The founder of Oyo Hotels and Homes, one of India’s fastest-growing startups, is confident that the budget hotel chain can weather the COVID-19 crisis, citing a $1 billion war chest that will last “three years plus,” Ritesh Agarwal said Thursday.

Speaking at an online conference hosted by DealStreetAsia, the 26-year-old entrepreneur and CEO referred to funds raised late last year from Japan’s SoftBank Group that would keep the company going in the short term.

Oyo does “not have any intentions of looking at raising capital in the near future” despite challenges it faces from the coronavirus pandemic.

But

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