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Industry Brief
[February 24, 2013]

Industry Brief

(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Feb. 25 -- (Kyodo) _ ---------- Bolivia, Japan begin test to extract lithium from Uyuni salt flat UYUNI, Bolivia - Bolivia and Japan have begun a full-fledged experiment to extract lithium from the Uyuni salt flat in the South American country, where about half of the world's lithium reserves are believed to lie.

---------- Toshiba to promote vice president Tanaka to president in June TOKYO - Toshiba Corp. will promote Hisao Tanaka, corporate senior executive vice president, to president in June, replacing Norio Sasaki, who will move to the new post of vice chairman, sources close to the matter said Saturday.

---------- Sharp to cut off capital tie-up talks with Hon Hai OSAKA - Struggling Japanese electronics maker Sharp Corp. plans to cut off stalled capital tie-up talks with Taiwanese business partner Hon Hai Precision Industry Co. and will give priority to a capital alliance negotiation with another company, sources close to the matter said Friday.

---------- Japan's Toyama Bank ties up with Bank Negara Indonesia TOYAMA - Toyama Bank in central Japan said Friday it has formed a business alliance with Bank Negara Indonesia to support local companies making forays into the Southeast Asian country.

---------- Toyoda Gosei to establish new auto component plant in Brazil NAGOYA - Toyoda Gosei Co. said Friday it will build a new plant in Brazil to produce auto components starting in November 2014.

---------- Yamaha to build motorcycle plant in Pakistan TOKYO - Yamaha Motor Co. will build a motorcycle plant in Pakistan with the aim of starting production in 2015, in an attempt to expand its business in an untapped emerging market, company President Hiroyuki Yanagi said Friday in an interview with Kyodo News.

---------- Softbank to issue 370 bil. yen in bonds to fund Sprint buyout TOKYO - Softbank Corp. said Friday it will issue 370 billion yen in corporate bonds next month to finance the acquisition of U.S. cellular phone company Sprint Nextel Corp.

---------- Sony becomes top Olympus shareholder with stake of around 11% TOKYO - Olympus Corp. said Friday that Sony Corp. has become its top shareholder with a stake of around 11 percent following the completion of a third-party share allotment.

---------- Itochu signs contract to become agent of U.S. firm in Japan TOKYO - Itochu Corp. said Friday it has signed a domestic agent contract with Echelon Corp. of the United States, which develops energy control networking platforms for use in smart grids and other energy-savings applications, to market the latter's products in Japan.

(NOTE: Corporate press releases are available on Japan Portal, a multilingual website powered by Kyodo News providing information about a wide range of topics and events in Japan. URL: (c) 2013 Kyodo News International, Inc.

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