#AKEBONO

Economics

Akebono Brake Gets $517 Million Bailout

Akebono Brake Industry Co. says 37 of its creditor banks have agreed to forgive 56 billion yen ($517 million) in debt to help the company through an out-of-court based turnaround.

Economics

Akebono Lands $185 Million Bailout

Ailing Akebono Brake Industry Co. says it has secured 20 billion yen ($185 million) from turnaround specialist Japan Industrial Solutions Co. in exchange for new stock shares.

Brose Names New N. America Chief

Wilm Uhlenbecker has taken over as president of Brose Groups North American unit, effective July 1.

Economics

Akebono Brake May Close Two U.S. Factories

Japanese supplier Akebono Brake Industry Co. could close two of its four brake component factories in the U.S. to offset a slump in orders, The Nikkei says.

Economics

Losses Deepen for Akebono Brake

Japan’s Akebono Brake Industry Co. Ltd. predicts it will post an adjusted net loss of 19.2 billion yen ($174 million) in the fiscal year ending March 31, citing losses in the U.S.

Economics

Brake Supplier Akebono Seeks Turnaround Aid

Japanese brake system supplier Akebono Brake Industry Co. has filed for an out-of-court turnaround and is seeking financial aid to avoid bankruptcy, The Nikkei reports.