regional

Japan regional banks to help businesses spread wings in Asia

TOKYO — Japanese regional banks will pool financial and human resources to help smaller businesses find customers and establish sales channels in China, Vietnam and other overseas markets.

Yamaguchi Financial Group and Michinoku Bank will soon enter into a partnership with Tokyo-based RCG, which supports regional trading houses. Plans call for setting up offices in such countries as China, Russia and Vietnam this fiscal year through RCG, expanding the network to around 20 nations within five years.

The move marks a change of tack for regional banks, which have until now opened their own Chinese and Southeast Asian offices to

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Uber to move regional headquarters to Hong Kong from Singapore

HONG KONG — Uber Technologies, the U.S. ride-sharing company, said on Tuesday that it will move its Asia-Pacific headquarters to Hong Kong from Singapore despite regulatory and political uncertainties facing the city.

The decision comes after Uber earlier this month said that it will close 45 offices and lay off more than 3,000 workers globally amid economic weakness triggered by the coronavirus pandemic and renewed social unrest in Hong Kong over a Beijing-proposed national security law that critics believe will undermine the semi-autonomous city’s freedoms.

“Like any other business, we are watching the situation closely. It’s a bit early to

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Mitsubishi to finalize Bombardier regional jet deal on June 1

TOKYO — Mitsubishi Heavy Industries said Thursday that it will formally acquire Bombardier’s regional jet program on June 1, nearly a year after the deal was first announced, but said it will likely write down the entire value of the acquisition.

Mitsubishi Heavy first announced it would acquire the Canadian Regional Jet, or CRJ, program on June 25 for $550 million (58.4 billion yen). The Japanese company now says it will write down the value of the acquisition in the current fiscal year, which ends March 2021 by an estimated 50 billion to 70 billion yen.

The acquisition nevertheless marks

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