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LeEco, China's info-tech and entertainment company, will build an electric vehicle plant at the cost of 12 billion yuan (US$1.8 billion). Foreign media reports including the Wall Street Journal said on August 11 that the "Chinese NetFlix" would establish an EV factory in Huzhou City, Zhejiang Province, in the eastern ...

The Cabinet approved Wednesday a draft second extra budget for fiscal 2016 to stimulate the flagging economy, bringing total public outlays for the year through March to over ¥100 trillion ($996 billion). The extra budget reflects Prime Minister Shinzo Abe’s push to lift the world’s third-biggest economy out of chronic ...

The dollar held firmer at around ¥100.30 in Tokyo on Wednesday amid muted trading ahead of a key economic event in the United States later this week. At 5 p.m., the dollar stood at ¥100.27-28, up from ¥100.10-10 the same time Tuesday. The euro was at $1.1297-1297, down from $1.1344-1345, ...

Stocks posted a modest rebound Wednesday, buoyed by buybacks of large-cap mainstay issues that reflected a pause in the yen’s advance against the dollar. The 225-issue Nikkei average climbed 99.94 points, or 0.61 percent, to end at 16,597.30 on the Tokyo Stock Exchange. On Tuesday, the key market gauge fell ...

The upcoming sixth Tokyo International Conference on African Development, or TICAD VI, is expected to accelerate Japanese investment in the continent’s increasingly attractive consumer markets. A range of firms are already present or are about to enter, ranging from a motorcycle manufacturer to a chicken restaurant operator and a maker ...

The Financial Services Agency is extending provisions that help regional financial institutions get public funds in response to risks posed by Britain’s vote to leave the European Union, sources say. The regulator, which oversees banks, securities brokerages and other financial institutions, is extending by five years a program that allows ...

Japan should spend ¥10 trillion ($99.83 billion) on fiscal stimulus both in fiscal 2017 and 2018 to offset the economy’s lack of demand and eliminate the risk of deflation, an adviser to Prime Minister Shinzo Abe said. Abe has already compiled a stimulus package for the current fiscal year with ...

Lawson HMV Entertainment Inc. will open a record store in Tokyo’s Shinjuku Ward to tap the growing popularity of retro music technology, sources say. Aside from collectors, vinyl is becoming popular with younger generations of music fans at a time when compact disc sales are falling as more people flock ...

Japan’s minimum wage will rise ¥25 on year to ¥823 on average in fiscal 2016, according to the Health, Labor and Welfare Ministry. This will mark the sharpest growth in the minimum wage since Japan began evaluating it by the hour instead of as a daily wage in fiscal 2002. ...

Members of Congress are demanding more information on why the price for lifesaving EpiPens has skyrocketed. EpiPens are injection devices used to ward off potentially fatal allergic reactions, and the price has surged in recent years. A two-dose package cost around $94 nine years ago. The average cost was more ...