Nissan to raise up to 500 billion yen in first bond issue in 4 years

TOKYO — Nissan Motor has registered with the Japanese government to issue up to 500 billion yen ($4.7 billion) in bonds within two years to prepare for a possible deterioration of earnings by increasing funds on hand.

The major Japanese automaker, which registered its first corporate bond issue in four years with the Kanto Local Finance Bureau on Friday, is struggling with decreasing new car sales amid the novel coronavirus pandemic. It has prepared structural reform plans including a steep cut in global production capacity.

While details of the planned bond flotation, including the amount and date of issuance, have

Read More

Japan Airlines falls into operating loss of 20 billion yen

TOKYO — Japan Airlines expects to book an operating loss of some 20 billion yen ($186 million) for the three months to March, compared to 30.6 billion yen profit in the same period a year earlier.

It is the first time since its relisting in 2012 for the company to fall into a quarterly operating loss.

The carrier has suffered a rapid decline in passengers starting in the second half of February and expects a further deterioration in operations in April and beyond.

The company estimates revenue dropped between 20% and 30% in the three-month period to March.

Although the

Read More

A billion workers to lose out as coronavirus ravages jobs market

More than a billion workers around the world are set to suffer financially as the coronavirus destroys jobs, cuts working hours and slashes pay.

One-third of the global workforce is expected to feel the effects directly, according to the International Labour Organisation, with those in the retail, manufacturing, accommodation and food, and travel and transport industries particularly hard hit.

Almost half a billion people work in retail and wholesale, many of whom are already out of work as shops are closed to try to contain Covid-19’s spread.

“Workers in this sector who are engaged in activities deemed essential (eg food

Read More