Japan's Bank Shares Rise as BOJ Rate Hike Spurs Profit Optimism
Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value, climbed as much as 3% and was headed for its highest close on record. Sumitomo Mitsui Financial Group Inc. gained 3.3%, while Mizuho Financial Group Inc. rose 3.8%. A measure of banks on the Topix index advanced 2.8%, the biggest gainer among 33 industry groups.
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Business Wire
an hour ago
- Business Wire
Saviynt's Identity Cloud Futureproofs LIXIL's Global Identity Management System
LOS ANGELES--(BUSINESS WIRE)-- Saviynt, the global leader in AI-based identity security and governance solutions, today announced that LIXIL Corporation ('LIXIL'), a global leader in the water and housing industries, has chosen Saviynt's Identity Cloud to enhance its global identity management system that now provides more than 70,000 identities with improved user experience, compliance readiness, and centralized visibility across the organization. With a workforce of more than 53,000 employees, LIXIL turned to Saviynt for the flexibility to modernize its legacy processes without disrupting operations. The cloud-native solution met the company's global needs, including compliance with GDPR data residency requirements and support for Japanese-language user interfaces. LIXIL's implementation included successful collaboration with Saviynt Expert Services, ensuring a smooth multi-phase deployment. 'Prior to the implementation, we relied on manual processes and localized automation tools for many tasks such as employee onboarding and offboarding, attestations, reporting, and audit controls. Now we have automated account and access granting processes, along with centralized visibility across the company,' said Sandy Halim, global information security leader at LIXIL. 'Improved visibility and governance have led to meaningful improvements in LIXIL's overall security posture.' Saviynt provides LIXIL with the following benefits from its Identity Cloud: Improved User Experience: Streamlined employee onboarding/offboarding and self-service provisioning for over 70,000 internal and third-party users. Granular Identity Visibility: Centralized and granular visibility across a diverse and expanding application ecosystem. Proactive Audit Readiness: Automation, standardized controls, and enhanced reporting capabilities make audits faster and easier. Global Compliance and Security: Simplified governance processes and improved reporting mitigate compliance and cybersecurity risks. Efficient Third-Party Access Governance: Seamless integration of third-party access governance (TPAG) within a single platform, enabling easy extension of capabilities to a global network of vendors and contractors. With Saviynt's support, LIXIL is now well-positioned to continue its cloud modernization journey. Looking ahead, LIXIL plans to implement Saviynt's privileged access management (PAM) solution and continue to onboard additional applications, expanding the scope of its identity governance initiatives. 'The exceptionally strong relationships we enjoyed with the LIXIL team in Japan – overcoming significant language and cultural barriers – contributed greatly to the success of this implementation,' said Karthik Satish Kumar, vice president of the customer office, APJ at Saviynt. 'This collaboration has helped both teams learn and grow, and we are grateful to LIXIL for the opportunity to partner on this transformative project.' To learn more about LIXIL's implementation with Saviynt, please visit the website. About Saviynt Saviynt's AI-powered identity platform manages and governs human and non-human access to all of an organization's applications, data, and business processes. Customers trust Saviynt to safeguard their digital assets, drive operational efficiency, and reduce compliance costs. Built for the AI age, Saviynt is today helping organizations safely accelerate their deployment and usage of AI. Saviynt is recognized as the leader in identity security, with solutions that protect and empower the world's leading brands, Fortune 500 companies and government institutions. For more information, please visit
Business Insider
2 hours ago
- Business Insider
Ford says it expects Trump's tariffs to set it back $2 billion and hand Japanese automakers a 'meaningful' edge
Jim Farley, the CEO of Ford, said on Wednesday that the Trump administration's tariff policy would saddle the automaker with a $2 billion bill while benefiting its Japanese rivals. "Our tariff bill is $2 billion, and that's a net number," Farley said in an earnings call. The company had projected a tariff hit of $1.5 billion in its last quarter. Farley told analysts he expected automakers to adopt a regional rather than globalized approach toward their businesses. In addition to tariffs, Farley said the change was being driven by the rise of electric vehicles and new carbon regulations. "We increasingly see Europe, North America, and Asia becoming kind of regional businesses with tariff rates that are aligned for those three or four regions," Farley said. "This is quite a fundamental change," he added. Representatives for Ford and the White House didn't respond to requests for comment from Business Insider. Farley said in an interview with Bloomberg on the same day that the Trump administration's reduced tariffs on Japan would give its Asian rivals a "meaningful" cost advantage. Last week, President Donald Trump said the US would lower its tariffs on Japan to 15% from 25%. The reduced tariffs, lower labour costs, and favorable exchange rates "really advantage their export," Farley said. A Kentucky-built Ford Escape could cost $5,000 more than a Japanese-made Toyota Rav4, while a Michigan-made Ford Bronco might be undercut by a Toyota 4Runner to the tune of $10,000, Farley added. Farley told Bloomberg that Ford was working with the Trump administration to "minimize our tariff expense so that we can get more competitive." "But the bottom line is our plan at Ford is not to compete in those commodity segments," he continued. This isn't the first time Farley has talked about the challenges Ford faces in the face of a new slate of tariffs. Farley said in an interview with Bloomberg earlier this year that Trump's 25% tariff on Canada and Mexico was a "windfall for South Korean and Japanese companies." "In our guidance, we can handle a couple of weeks of tariffs. If it goes beyond that, obviously, it will be billions and billions of incremental profit headwinds for the company," Farley told the outlet in February. On Wednesday, Ford's shares fell by nearly 1.6% in after-hours trading. The company's shares are up by 9.8% year to date.
Yahoo
3 hours ago
- Yahoo
Nissan reports loss, 10% vehicle sales decline in Q1
Nissan Motor announced a further deterioration in its financial performance in the first quarter of the current fiscal (FY25), from April to June 2025, as the Japanese automaker continued to struggle with rising global competition and a fast-changing global business environment. Consolidated revenues plunged by almost 10% year-on-year to JPY 2,706.9 billion in the first quarter of FY25, with global sales of 707,000 vehicles – down 10% compared with 787,000 units a year earlier. This resulted in an operating loss of JPY 79.1 billion, compared with a profit of JPY 1 billion a year earlier, resulting in a negative operating margin of -2.9%. The company said improvements in product mix and reductions in fixed costs helped mitigate losses, after previously forecasting a JPY 200 billion operating loss for the quarter. The automaker reported a net loss of JPY 115.8 billion, compared with a net profit of JPY 28.6 billion a year earlier. It calculated that its total liquidity was JPY 3.1 trillion at the end of June, with an additional JPY 1.8 trillion available in unused credit lines. The company confirmed that the key headwinds it faced in the quarter included weaker sales volumes, adverse exchange rates, and the impact of US import tariffs. Nissan kept its full fiscal revenue forecast unchanged at JPY 12,500 billion, but did not offer a full-year earnings forecast due to the 'difficulty in forecasting the business environment surrounding the company at this time,' adding that the full-year 'outlook for operating profit, net income, and auto free cash flow for the fiscal year remains undetermined.' The company did provide a financial forecast for the second quarter of FY25, including expected consolidated net revenues of JPY 2,800 billion, an operating loss of JPY 100 billion, and a negative automotive free cash flow of JPY 350 billion. Nissan president and CEO, Ivan Espinosa, said in a statement: 'These results serve as a reminder of the urgency behind our Re:Nissan recovery plan. Over the past quarter, we've taken decisive first steps—cutting costs, redefining our product and market strategies, and strengthening key partnerships. We must now go further and faster to achieve profitability. Everyone at Nissan is united in delivering a recovery that will ensure a sustainable and profitable future.' In the last two months, Nissan announced plans to close its Oppama assembly plant in Japan and the CIVAC plant in Mexico, with more closures to be announced in the coming months. The automaker is looking to reduce its global production capacity from 3.5 million to 2.5 million vehicles per year under its Re: Nissan restructuring plan, while reducing the number of assembly plants globally from 17 to 10. "Nissan reports loss, 10% vehicle sales decline in Q1" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
