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Market benchmark Sensex surged by 438 points to snap a two-session losing run, tracking firm global trend after the US Federal Reserve softened its stance on rate hikes, while value-buying in recent losers also helped the index post biggest single-day rally in nearly a month.

aipei/Osaka Hon Hai Precision Industry Co. agreed Wednesday to buy control of financially struggling Sharp Corp. for ¥389 billion ($3.5 billion) in the first takeover of a major Japanese electronics producer by a foreign company. The agreement by Hon Hai, also known as Foxconn, followed weeks of uncertainty over what ...

Hitachi Ltd. and Sagawa Express Co. agreed Wednesday to buy stakes in each other’s distribution businesses as competition among Japanese logistics companies intensifies. Hitachi Transport System Ltd. will buy 20 percent of Sagawa Express Co. for ¥66.3 billion ($591 million) from its parent SG Holdings Co., according to a joint ...

Toshiba Corp. said Wednesday it has agreed to sell an 80.1 percent stake in its home appliance unit to China’s Midea Group Co. for about ¥53.7 billion ($473 million) as the industrial conglomerate proceeds with restructuring following a massive accounting scandal. Under the agreement, Toshiba will keep the remaining 19.9 ...

The dollar tumbled to levels close to ¥112 in Tokyo trading on Wednesday as expectations of an early additional rate hike by the U.S. Federal Reserve receded due to dovish remarks by Fed Chair Janet Yellen in her speech overnight. At 5 p.m., the dollar stood at ¥112.07-07, down from ...

A source familiar with the matter says Takata estimates a callback of its air bag inflators would total about ¥2.7 trillion. The post Takata said to put worst-case recall costs at $24 billion appeared first on The Japan Times.

Stocks lost further ground on the Tokyo Stock Exchange on Wednesday, weighed down by the yen’s strengthening against the dollar, with the Nikkei average ending below 17,000 for the first time in a week. The 225-issue Nikkei average shed 224.57 points, or 1.31 percent, to close at 16,878.96, its first ...

Mitsubishi Electric Corp., a supplier of air-to-air missiles to Japan’s armed forces, is looking to adapt the technologies it originally developed for military use to help autonomous driving cars detect obstacles and avoid collisions. Components such as millimeter-wave radar, sonar, sensors and cameras — some of which were developed to ...

In August 2009, after ruptured air bag inflators in Honda vehicles were linked to least four injuries and a death, the automaker quietly requested a design change and did not notify U.S. regulators, Honda confirmed in response to inquiries from Reuters. Honda Motor Co. asked supplier Takata Corp. to produce ...

Japan’s industrial production dropped the most since the March 2011 earthquake as falling exports sapped demand and a steel-mill explosion halted domestic car production at Toyota Motor Corp. Output slumped 6.2 percent in February after rising in January, the trade ministry said on Wednesday. Economists surveyed by Bloomberg had forecast ...