Tag bankruptcy

TOKYO — Japan’s Akebono Brake Industry now expects a net loss of 19.2 billion yen ($174 million) for the fiscal year ending in March as the poor U.S. performance necessitated an asset write-down. The new forecast released Tuesday marks a sharp downgrade…

TOKYO (Reuters) – Japan’s Akebono Brake Industry Co Ltd is seeking a capital infusion from top shareholder Toyota Motor Corp and a moratorium on debt repayment as part of a revival plan, sending its shares tumbling by a quarter on Wednesday.…