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Itochu forecasts big loss

Article Abstract:

Japanese trading firm Itochu Corp. expects a $2.37 billion loss for 1999 as part of its second major restructuring plan. The firm said it absorbed the loss to divest itself of unprofitable businesses and investments, particularly real estate projects which were affected by a slump in land prices. The extraordinary loss is Itochu's third straight consolidated annual loss. The firm plans to concentrate on financial services and multimedia.

Foreign Trade Companies NEC, Other Miscellaneous Nondurable Goods Wholesalers, Financial analysis, Finance, Trading companies, Itochu Corp.

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Kao is tempted by marquee U.S. presence

Article Abstract:

Kao of Japan bids against Procter & Gamble for Bristol-Myers Squibb's Clairol. Kao is presumingly willing to pay over $4 billion for Clairol, even though Kao's global sales were only $6.8 billion last year. The move is hailed as a strategic investment, but Kao faces the difficulties of managing a U.S. operation.

Asset sales & divestitures, Acquisitions & mergers, Sales, profits & dividends, Toiletries, Toilet Preparation Manufacturing, Toilet preparations, Mergers, acquisitions and divestments, Toiletries industry, Procter & Gamble Co., PG, Bristol-Myers Squibb Co., BMY, Clairol Inc., Kao Corp.

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Firms put off corn purchases

Article Abstract:

Japanese firms are postponing any purchases of U.S. corn to due worries regarding Star Link genetically modified corn. Almost all of the approximately 16 mil metric tons a year of corn purchased by Japan comes from the U.S.

International economic relations, Corn, Corn Farming, Brief Article, International trade, Corn industry

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