News Column

Kyodo news summary -9-

June 27, 2014



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Mizkan secures $2.2 bil. loan to buy U.S. pasta sauce business

TOKYO - Four Japanese banks on Friday extended a $2.2 billion (about 220 billion yen) syndicated loan to food manufacturer Mizkan Holdings Co. for its purchase of several major U.S. food brands from Anglo-Dutch consumer goods giant Unilever.

The dollar-based loan was extended by the Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, Sumitomo Mitsui Banking Corp. and the governmental Development Bank of Japan.

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Renault-Nissan, Daimler to jointly develop luxury compact cars in Mexico

TOKYO - The Renault-Nissan alliance said Friday it will develop new luxury compact cars in Mexico with its partner Daimler AG of Germany for the North and South American markets.

Renault-Nissan and Daimler are expected to build a new plant to begin production in 2017, splitting the investment costs of around 1 billion euros.

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GM recalls 33,000 cars in U.S., Canada over defective air bags

NEW YORK - General Motors Co. said Thursday it is recalling about 33,000 of its 2013 and 2014 Chevrolet Cruze cars in the United States and Canada due to faulty air bag inflators.

The recall, which involves about 29,000 units in the United States, is due to a defect in which air bags are unlikely to inflate in the event of a collision. The air bags were made by Japanese manufacturer Takata Corp.

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China's top policy negotiator visits Taiwan's pro-independence south

GREATER KAOHSIUNG, Taiwan - China's Taiwan Affairs Council Minister Zhang Zhijun visited Greater Kaohsiung in southern Taiwan on Friday, where anti-China sentiments are widespread, seeking to charm the pro-independence south on the second stop of his landmark visit to Taiwan.

Pro-independence protesters dogged Zhang's itinerary in Greater Kaohsiung, confronting Zhang as he showed up at a local hotel Friday evening for a second meeting with his Taiwan counterpart, Mainland Affairs Council Minister Wang Yu-chi.



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Source: Japan Economic Newswire


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