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TMCNet:  Industry Brief

[February 11, 2013]

Industry Brief

(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Feb. 12 -- (Kyodo) _ ---------- Sumitomo Life Insurance to cut premiums by 2-3% TOKYO - Sumitomo Life Insurance Co. plans to cut premiums on life insurance policies, the core of its insurance policy lineup, by some 2-3 percent, starting with contracts to be concluded in April, sources familiar with the matter said Sunday.



---------- JCOM buyout plan delayed due to lack of Chinese approval TOKYO - Trading house Sumitomo Corp. and telecom carrier KDDI Corp. on Friday announced a delay in buying out cable TV operator Jupiter Telecommunications Co. because China has not granted approval under its competition law that it says affects companies, such as Sumitomo, which generate sales in the country.

---------- Dai-ichi Life annuls deal to set up insurance venture in China TOKYO - Dai-ichi Life Insurance Co. said Friday it has agreed with China Huadian Corp., a Chinese state-run electric utility, to scrap an agreement to jointly set up a company to sell life insurance policies in China.

---------- Sharp to integrate 2 domestic sales firms in April OSAKA - Struggling electronics maker Sharp Corp. said Friday it will integrate two domestic sales companies on April 1 to enhance its services to corporate customers and reduce costs.

---------- Japan Railway debuts N700A shinkansen bullet train cars TOKYO - Central Japan Railway Co. (JR Tokai) on Friday started operating its N700A shinkansen bullet train cars between Tokyo and Osaka with enhanced safety and energy features, including an advanced braking system, and quieter cabins.

---------- Peach Aviation to fly Osaka-Busan from Sept. 13 OSAKA - Japanese budget carrier Peach Aviation Ltd. said Friday it will begin a daily flight between Osaka and Busan, South Korea, on Sept. 13 with a one-way fare starting at 4,780 yen excluding airport facility and other charges.

(NOTE: Corporate press releases are available on Japan Portal, a multilingual website powered by Kyodo News providing information about a wide range of topics and events in Japan. URL: http://www.japanportal.jp/industry/) (c) 2013 Kyodo News International, Inc.

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