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Beijing – In a rare move Lenovo CEO Yang Yuanqing has decided to use a $3 million bonus he received for the company’s record-setting year to reward thousands of the company’s rank-and-file employees.
The 47-year-old gave around 10,000 employees worldwide bonus checks for their hard work, Lenovo spokesman Jeffrey Shafer said.
The computer company announced its fourth quarter earnings in May. According to a press release, net profit for the company rose 73 percent year over year. The brand’s global PC sales rose by 35 percent year over year.
The employees, who worked in different areas of the company Efrom manufacturing to administration to other nonmanagement positions, each received around $300 as a part of Yuanqing’s generosity.
China anger about the disputed islands was not for a few days, it is still hurting Japanese cars a lot.
Sales of Japanese passenger cars in China fell nearly 60 percent in October from a year earlier. The plunge is apparently due to tense diplomatic relations between the two countries.
The China Association of Automobile Manufacturers released data on Friday that shows sales of new vehicles in October increased 5.3 percent to 1.6 million units. It’s a sign that the Chinese auto market remains solid.
But sales of Japanese cars saw a decline of 59.4 percent amid increasing boycotts of Japanese products in China. This comes amid the ongoing territorial dispute over the Senkaku Islands in the East China Sea.
By contrast, German and South Korean carmakers enjoyed sales increases of 30 percent and 20 percent, respectively.
As a result, Japanese passenger car makers’ share of the Chinese market fell 12.3 points from a year earlier to just 7.6 percent.
To face this adversity which clearly goes against last year ambitious goals in China, Japanese companies have adopted new Global HR strategy.
First they will review the weight of other Asian countries and invest more in Thailand, Indonesia and India.
Secondly they will also develop joint-venture and express more solidarity between themselves. Mazda just announced that they would produce Toyota cars in their plant in Mexico.
Thirdly Chinese plants will produce less, this will be at a high cost as an plant costs if they produce only 80% of their capacity. Today the rate is closer to 60%.
Japanese companies have been hit by China and need urgently to review the way they produce and where.
L’Oréal inaugurates its largest factory in the world in Indonesia to meet fast-rising demand in the South-East Asian beauty market
L’Oréal invests EUR 100 million in the first LEED certified factory in Indonesia
L’Oréal announced this week the opening of its largest factory in the world. The 66,000 m2 building is located at the Jababeka Industrial Estate, West Java, Indonesia, around 60 kilometers east of Jakarta. With a staged investment totalling EUR 100 million (approximately IDR 1.25 trillion), this new factory will serve as the production hub for the South-East Asian region.
Rakuten, Inc., the world’s 3rd largest e-commerce marketplace, will participate in the Cool Japan Strategy Promotion Program run by the Ministry of Economy, Trade, and Industry (hereinafter METI) to support Japanese retailers hoping to break into Indonesia’s burgeoning e-commerce market. On November 12, Rakuten will hold an exhibition at major shopping facility, Grand Indonesia, located in central Jakarta featuring products sold by 29 selected Japanese merchants. The products will also be promoted for sale at Rakuten’s online shopping mall in Indonesia, Rakuten Belanja Online. Through this initiative, Rakuten also aims to empower Indonesian users to enjoy unique Japanese products.
The Chinese University of Hong Kong (CUHK) has invited Prof. Justin Yifu Lin, Honorary Dean of National School of Development at Peking University, former Senior Vice President and Chief Economist of the World Bank, to present a public lecture on ‘Demystifying the Chinese Economy Eon campus next Thursday (15 November). The lecture will be conducted in English. Interested members of the public are welcome to join and register online at:http://www.cuhk.edu.hk/cpr/lectures/linyifu.
Two good news for Social Gaming giants GREE and DeNA today.
First of all GREE signed a Business Alliance with Yahoo Japan. This alliance will allow GREE to use Yahoo leadership in Japan and promote its gaming platform. GREE will also promote Yahoo wallet and create additional synergies. Yahoo Japan is also backed by Softbank, the most dynamic mobile phone carrier in Japan.
Panasonic has entered the Guiness Book of the most massive loss in companies history with almost 10 billion dollars vanished away. It is for sure that restructurations will come and redundancies too. Many plants might be closed around the world. The reason might be found in the lack of marketing, understanding of local markets, globalization of executive teams, lack of accountability but also pride.
Sharp said yesterday it booked massive second-quarter losses and is seeing “serious negative operating cash flow.” “This raises serious doubts about (our ability) to continue as a going concern,” it said, adding it was taking steps, from pay cuts and asset sales to voluntary redundancies, to generate cash flow.
Sharp has been in talks for months with Hon Hai Precision Industry Co Ltd about the Taiwan-based group becoming its biggest shareholder. Sharp said on Thursday it expected an agreement on that before a March deadline, but added it was considering other alliances as well.
More than 20 companies participated in the first China Innovation Forum organized by the CEIBS Centre on China Innovation (CCI). Participating companies included (in alphabetical order) Akzo Nobel, Bosch, Dow Chemical, DSM, Elanco Animal Health, Ericsson, GE, GM, IBM, Jim Brothers, Philips, Praxair, Shanghai Highly Group, Shell, Sinnotech and TCL. CCI Co-Director Prof. Bruce McKern chaired the event, and CCI Co-Director Prof. George S. Yip participated via video. Also attending were CEIBS Visiting Professor of Management Dominique Jolly, CEIBS Visiting Associate Professor of Management Haiyang Li, and CEIBS Assistant Professor of management Daniel Han Ming Chang who are working on research projects with CCI.
Japanese companies turn to American methods and address new venture people and companies via carpet fundings.
NTT DoCoMo Inc. said Friday it will set up a venture fund to help start-up companies devise services and technologies that can be applied to its own operations.
Possibly trying to hide the grim news by announcing it during Apple’s event Zynga has shut down its Japan office and laid off 50 employees on top of closing its Boston office and laying off employees in Austin and the U.K., including cuts to The Ville and Bingo teams.
Zynga had been bleeding talent since a few months due to disappointing financial results following the disastrous acquisition of OMG POP but also the Facebook valuation effect. The question remains if Zynga will have enough cash to pursue its turnaround as its stocks are falling at Wall Street.
Asian gaming social networks such as GREE, DeNA or Hangame can see here a victory with their mobile strategy.