Citing Slow Tourist Travel, Japan Airlines Reports Loss in Quarter
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Japan Airlines reported a net loss of 10.8 billion yen in the latest quarter, partly because of soaring oil prices and a drop in ski travel.
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Japanese consumer electronics maker Sanyo said it posted a net loss in the December quarter, hit by sluggish sales of digital cameras and the damage a killer earthquake caused to its chip-making plant.
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Tokyo's Nikkei average lost 0.85 percent  to a three-week closing low on Thursday as a fall in the dollar  further weakened investor confidence in company earnings,  driving exporters such as Honda Motor Co. down.
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Northwest Airlines Corp. NWAC.O, the  No. 4 U.S. air carrier, posted a quarterly loss on Wednesday as  high fuel prices and low fares weighed on the industry.
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Japan issued mixed economic data Tuesday in government figures for jobs, spending and sales in December, and officials responded cautiously amid other signs economic growth is slowing.
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Japan's Nikkei share average was lower at  midsession on Monday as caution over the yen's rise offset  optimism about the post-election outlook for Wall Street.
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The low-cost airline reported a loss of $79 million, hurt by soaring fuel costs that have battered the industry.
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Japan's economy slowed sharply in the third quarter as capital expenditure and exports, the key driver of the recovery so far, faltered badly but there were more hopeful signs on consumer spending, drawing cheers from investors.
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Japan's economy has grown more slowly than predicted, figures show, raising question marks over its recovery.
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Tokyo's Nikkei average lost 0.85 percent to a three-week closing low on Thursday as a fall in the dollar further weakened investor confidence in company earnings, driving exporters such as Honda Motor Co. down.
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Japanese firms' spending on equipment slows from July to September, raising fears of a dent in economic growth.
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Japan's two biggest airlines have seen  more than 5.0 billion yen ($45.43 million) in lost sales this  year due to flight cancellations caused by a string of  typhoons, Kyodo news agency said Saturday.
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Japan's GDP fell by 0.1% in the last quarter of 2004, taking the country into recession.
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Japan's Nikkei average fell on Wednesday  for a fifth straight day, hitting a one-month closing low as  key exporters and techs such as Kyocera Corp. fell on renewed  caution about the country's economic outlook.
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The airline reported a narrower-than-expected loss in the fourth quarter and its first full-year profit in three years as an increase in traffic helped compensate for rising fuel costs.
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Japan's economy will likely expand 1.6 percent in the fiscal year starting in April, slower than the expected pace for the current fiscal year because of dwindling capital expenditures and housing investment, the government said Monday.
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The Japanese Foreign Ministry's Web site was slowed Tuesday, apparently by a massive number of attempts to access it, an official said.