NEC said that it would quit making smartphones, acknowledging that it had lost sight of the development of mobile technology. The New York Times reports.
Asian stocks were mixed on Wednesday as investors adopted a wait-and-see approach ahead of the Federal Reserve's policy statement.
As the breakneck growth in the global smartphone market eases, Japanese companies that make the robots that build the phones are looking to automakers to take up the slack.
Japan is gearing up for its most important reporting season in over a decade with key industry bellwethers due to report their earnings for the April to June quarter this week.
"Abenomics" hinges on a pick-up in consumer spending, but eight months after its launch, it has yet to convince many Japanese to part with their thrifty ways.
With IBM sued for wrongly termination, PM Abe is now faced with the issue of whether to make it easier for companies operating in Japan to fire workers.
South Korean tech giant Samsung holds on to the title of Asia's top brand out of 1,000 competitors for a second year in a row, beating key rivals such as Apple.
The problem for Korea had seemed obvious: the won has climbed by a third against the Japanese currency, in theory allowing Japanese companies to undercut Korean competitors and carry home more yen.
Sony shareholders will be able to gauge CEO Kazuo Hirai's response to activist investor Dan Loeb's proposal to break up the company when he gives an update on his revival strategy at a press briefing on Wednesday.
Calls by an American billionaire investor for a break-up of Sony could mark the start of the third leg of Abenomics: shaking up corporate Japan by removing regulations that have hurt profitability.
Shanghai stocks fell to a one-week low on Tuesday amid fears that the People's Bank of China would not provide monetary stimulus to support the economy while Asia's other equity markets were mixed ahead of Australia's budget release.
Most Asian stock markets closed in positive territory on Monday with a weaker yen propelling Japan's benchmark Nikkei index to a fresh five-and-a-half-year peak, while the Shanghai Composite pared losses following a raft of lower-than-expected economic data from the mainland.
The reluctance to invest in new plants and equipment could be the biggest challenge to Abe's policies aimed at driving Japan out of a decade and a half of stagnant growth.
Stocks finished higher in light, tight tug-of-war trading Thursday as Wall Street cheered Bank of Japan's aggressive new stimulus measures, but a disappointing weekly jobless claims report kept a lid on gains.
Shares of Nuance Communication closed almost 6 percent higher on Tuesday after activist investor Carl Icahn disclosed a 9.27 percent passive stake in the software company. So what's the appeal for Icahn?
A unit of Japan's Panasonic is under investigation by U.S. authorities looking at whether the company paid bribes overseas to airline employees or government officials to help land business.
Japanese exporters will hand out bigger bonuses for the next fiscal year as Prime Minister Shinzo Abe's policies drive the yen to multi-year lows, with Toyota Motors leading the way.
Japanese blue-chip firms, from electronics giants to brewers, are selling prime real estate to shore up battered balance sheets, stoking a resurgent property market.
Asian stocks closed mixed on Monday after Wall Street hit a five-year high in the previous session as strong economic data buoyed sentiment.
Shares of Panasonic jumped 14 percent in early trade on Monday, hitting a 7-month high after the consumer electronics maker rebounded to a quarterly profit and stuck with its full-year earnings forecast.