Sharp, Panasonic post massive losses

TOKYO (AFP) ― Panasonic and Sharp racked up more than $11 billion in combined losses over the nine months to December as the embattled Japanese electronics giants warned Friday there was more bleeding to come.

Japan’s battered electronics sector has suffered from myriad problems including a high yen, slowing demand for key export markets, fierce overseas competition and strategic mistakes that left companies’ finances in ruins.

Industry giants Sharp, Panasonic and Sony have been hammered by credit rating downgrades and record losses, while century-old Sharp warned about its own survival last year and put up its Osaka headquarters as collateral for bank loans it needed to stay afloat.

On Friday, the maker of Aquos-brand electronics said its doubled its loss in the nine months to December to $4.6 billion, while Panasonic said it lost about $6.77 billion over the same period, and was on track to lose a whopping $8.3 billion over the fiscal year to March.

But Sharp insisted its massive corporate overhaul, including thousands of jobs cuts, would keep it from going under.

“We believe that these conditions will not cast a material uncertainty about Sharp’s ability to continue as a going concern,” it said in its earnings statement.

The company also offered a glimmer of hope, as it eked out a small 2.6 billion yen operating profit in the third quarter, although it still posted a net loss of 424.35 billion yen from January to December.

It also left unchanged its full-year 450 billion yen net loss forecast.

For its part, Panasonic said it logged a nine-month operating profit of 121.95 billion yen, saying the positive result was due “mainly to fixed cost reductions and streamlining material costs.”

Weak demand for flat-panel televisions helped pushed total sales down 8.8 percent to 5.44 trillion yen, it added.

Opposition demands inquiry into NIS official By Kang Seung-woo The main opposition Democratic United Party (DUP) said Friday that it will seek a parliamentary investigation into an intelligence agent under suspicion of having conducted an unauthorized online campaign against former liberal presidential candidate Moon Jae-in. The 29-year-old National Intelligence Service (NIS) official, identified only by her surname Kim, posted a total of 120 online posts about hot-button political issues including the four-river refurbishment project and the construction of the Jeju naval base on two websites between Aug. 28 and Dec. 11, according to Suseo Police Station Thursday. The issue is the NIS interference in the presidential election and wrongdoings in breach of institutional discipline, given that she posted online from 9 a.m. to 6 p.m., which means she did so during work hours, DUP vice floor leader Woo Won-shik told a radio program. Using 11 user IDs on two websites, she posted 120 articles and approved posts critical of the opposition partys presidential candidate and lawmakers, Woo said. According to the police, the articles supported the Lee Myung-bak administration and the ruling Saenuri Party, while criticizing the opposition. Besides writing on the websites, she disapproved of online posts critical of the Saenuri Party, constantly expressing opinions favorable to the government and the ruling party, said Kwon Eun-hee, the police officer at Suseo Police Station in charge of the case. The police are under suspicion of having attempted to cover up the NIS agents alleged action during a sensitive period. When campaigning was in full swing in December, police hastily announced that her posts were about personal issues that would not affect the election. In addition, the DUP is raising questions about whether Kim is in breach of election law. These stipulate that public servants are not permitted to express their political opinions publicly. The agent is accused of libel against Moon by repeatedly posting negative comments about him.

Spy agent freshly accused of anti-Moon campaign By Kim Young-jin An intelligence agent under suspicion of conducting an online campaign against former liberal presidential candidate Moon Jae-in posted online comments critical of the opposition, police alleged Thursday. The agent, identified by her surname Kim, wrote 78 posts about hot-button issues between August and the presidential election, held on Dec. 19, mostly in favor of the ruling Saenuri Party, they said. The fresh allegation contradicts an earlier probe that said Kim had only made personal comments online and had not interfered with the election.    In the run-up to the Dec. 19 election, officials of Moon’s Democratic United Party claimed that the National Intelligence Service (NIS), ordered the agent to work against Moon by posting online comments critical of him. The election law stipulates that civil servants maintain neutrality in elections. The agent also disapproved of other posters who had made negative comments about the conservative Lee Myung-bak administration of the Saenuri Party, Kwon Eun-hee, a police officer at the Suseo Police Station said Thursday. The agent has been accused of slander against then main opposition presidential candidate Moon by repeatedly posting negative comments about him on the Internet using 11 user IDs. Kim has denied the allegations, insisting she did not violate the election law. According to the NIS, Kim had been tasked to engage in psychological warfare against North Korea and that her posts were related to that. "Kim did not write online posts critical of presidential candidate Moon Jae-in,” it said in a statement. The issue rocked the campaign trail just before the elections. The DUP hammered conservatives for manipulation while Park Geun-hye, the eventual winner, hit back by saying the agent’s rights were being ignored. The DUP compelled the police and the National Election Commission (NEC) to search Kim’s apartment in southern Seoul, which they claimed was being used by an official of the NIS to post negative comments about Moon online. Before this week’s developments police said had they had not secure sufficient evidence to back the claims. yjk@koreatimes.co.kr,

NIS official wrote posts related to presidential poll: police

Published : 2013-01-31 16:36
Updated : 2013-01-31 18:12

A National Intelligence Service official who is suspected of meddling in last year’s presidential poll had posted related writings during the election period, police said Thursday.

The 29-year-old official -- identified only by her surname Kim -- allegedly posted at least 120 writings from Aug. 28 to Dec. 11 about politically sensitive issues, including on presidential candidates, according to Suseo Police Station in southern Seoul.

Most of the postings were favorable to the government and the ruling Saenuri party and critical toward the opposition, police said. The law requires government employees to remain neutral in elections.

“In addition to her writing, (Kim) consistently was in favor of the ruling party of the government,” officer Kwon Eun-hui told Yonhap News. “We are mainly focusing on this fact.”

All of Kim’s verified postings were on two websites: online humor website "Oneului humor" (Today’s humor), and used vehicle trading website “Bobaedrim" (Giving you treasures). She allegedly used 11 different IDs to post comments and writings.

As Today’s Humor is widely known for its members’ leftist views, some came to suspect that the NIS had attempted to defame liberal presidential candidates and monitor the activities of the candidates’ supporters.

According to another report by The Hankyoreh newspaper on Thursday, Kim only posted the writings between 9:00 a.m. and 6:20 p.m. on weekdays, and never on weekends. This fueled suspicions that Kim posted the political writings as part of her duty as an NIS official.

Last December, the main opposition Democratic United Party said it received a tip-off that the NIS was working to vilify its candidate Moon Jae-in.

The DUP claimed that the “NIS-affiliated psychosomatic information bureau” was working to ensure Moon’s loss in the presidential election, and Kim had posted slanderous comments against Moon.

The NIS denied the allegations and accused the DUP of carrying out “negative propaganda,” and Kim claimed she has always remained politically neutral.

Earlier this month, however, a police report confirmed that she clicked on the “approval” or “objection” buttons on Internet posts regarding the presidential candidates.

Kim said that she never directly posted any election-related writings and that her activities online were only part of her job to monitor pro-North Korean activities. She added that she only clicked the “object” button to subpar writings.

However, the latest police reports indicate that Kim’s testimonies, at least in part, had been false.

This led many to question the credibility of the police investigation, as police promptly announced after just three days of initial investigating that they had not found any evidence of wrongdoing.


By Yoon Min-sik
(minsikyoon@heraldcorp.com)

Psy garners three awards in France

Published : 2013-01-27 14:24
Updated : 2013-01-27 18:20

K-pop sensation Psy garnered three awards at the NRJ Music Awards of France on Saturday, local time.

With his international smash-hit, “Gangnam Style,” the 35-year-old star won Chanson Internationale de L’anne (International Song of the Year) and Clip de L’anne (Video Clip of the Year) and also received an Award d’honneur (honor.) He is the first Korean to be invited to the noted French ceremony held at the Cannes Festival Palace. 

Psy arrives at the Cannes festival palace to take part in the NRJ Music Awards ceremony on Saturday. (AP-Yonhap News)

“This is my second time in France. The first time was in Paris. And I can see, ‘Am I famous in France?’” he grinned as he received his honorary award.

The Korean singer showed some sense of humor as he collected his international song of the year trophy. “I just wanna tell you: A lot of French fans call me ‘si’ but my name is Psy ([si].) Could you say my name one more time [si]?” He also mimicked some Greek dance with the presenter on stage.

The singer enjoyed much publicity from the French media. He walked the red carpet in a limousine with a group of beauties, started his Gangnam Style there and led his performance and camera team inside the concert hall to finish his choreography on stage. “All I can say is, merci!” he said.

After the show, the singer tweeted: “I’m speechless ... I won 3 #NRJMusicAwards!!! Merci FRACE!!!”

By Bae Ji-sook (baejisook@heraldcorp.com)

Choi, Snedeker tied for lead

Published : 2013-01-25 19:48
Updated : 2013-01-25 19:48

Korea’s Choi Kyung-ju tees off on the ninth hole at the Farmers Insurance Open on Thursday. (AFP-Yonhap News)

SAN DIEGO (AP) ― Brandt Snedeker ended another round at Torrey Pines atop the leaderboard. Only this time he had company, and still a long way to go.

Snedeker had a flawless start to his title defense in the Farmers Insurance Open by playing bogey-free on the North Course for a 7-under 65 and a share of the lead with Choi Kyung-ju on Thursday. The advantage after one day goes to Choi, who birdied three of his last four holes on the tough South Course for his 65.

Tiger Woods, a seven-time champion at Torrey Pines as a pro, looked as if he might join them. Woods was one shot off the lead with five holes to play on the South until he stumbled in the final hour of a cloudy day with two bogeys and had to scramble to save par on the par-5 18th for a 68.

“I made a few mistakes out there, but I made some nice plays as well,” Woods said.

He three-putted for double bogey on the fourth hole, and then responded with a 12-footer for birdie, an eagle by holing a bunker shot on the par-5 sixth, and birdie putts on the eighth and ninth holes to get back into the game.

Phil Mickelson had quite the taxing day with a 72 on the North, which played about 1 1/2 strokes easier than the course that hosted a U.S. Open in 2008.

Snedeker already is developing quite the love affair with this municipal course along the Pacific Bluffs. As a rookie, he was 10 under through 10 holes and had to settle for a 61 on the North Course. He finished third that year. Then, he rallied from seven shots behind in the final round, got into a playoff when Kyle Stanley made triple bogey on the 18th and won on the second playoff hole.

One year later, he was right back at it.

“It’s funny, you look at all the golf courses I should play well on, this should not be one of them,” Snedeker said. “This is a long, difficult golf course with lots of rough and hitting a lot of iron shots. My strength is driving and putting, so it doesn’t really add up well around year. But for some reason, it’s been good to me.”

It was even more of a mystery for Choi.

He is not a regular at Torrey Pines and decided not to come last year until he heard from his host family in San Diego that the South Korean community wanted to see him play. Choi put on quite a show. He finally got some height and spin into shots while warming up on the range, and he converted that into the best round on the South.

He ran off five birdies in a six-hole stretch on the back nine ― he started on No. 10 ― and no shot was more pleasing than a wedge into a light crosswind on the 15th hole that settled inches from the cup.

“Best shot ever on the South Course ― ever,” he said, grinning.

Of the eight players at 66, only Josh Teater posted his on the South Course. Of the PGA Tour events that use multiple courses, few of them are as different as the South and North at Torrey Pines, although the difference in scoring average has been greater in recent years.

Qatar Masters
DOHA (AP) ― Ryder Cup stars Martin Kaymer and Sergio Garcia were among four players tied for the lead at the Qatar Masters after the second round on Thursday.

The leaderboard was crowded, with 15 players within three shots of the leaders, thanks to mainly calm conditions at Doha Golf Course.

Kaymer had a 5-under 67 and Garcia (66), overnight leader Ricardo Santos (70) of Portugal and Marcus Fraser (67) of Australia were at 9-under 135. They had a one-shot lead on five players, including former U.S. Open champion Michael Campbell (68).

Three shots behind after the first round, the former top-ranked Kaymer took the lead thanks to his short game. He holed a chip from the fringe on 13 and made several long putts including a birdie on the ninth. Kaymer had a bogey-free round that featured five birdies.

The understated German felt his round was merely “OK,” and believed his score would not be enough to hold up over the last two rounds.

“I played a lot better than the last few rounds I played, especially in Abu Dhabi,” Kaymer said. “But I was a little fortunate today, a few putts that dropped, but on those greens that happens sometimes, and I think 9 under is a good position to be in.”

Berries may reduce heart attack risk

Published : 2013-01-15 16:15
Updated : 2013-01-15 16:15

Blueberries and strawberries reported to reduce heart attackes (123rf)

Women who ate at least three servings of blueberries and strawberries per week had fewer heart attacks, U.S. and British researchers say.

Senior author Eric Rimm of the Harvard School of Public Health in Boston said blueberries and strawberries were used simply because they are the most eaten berries in the United States.

Researchers at the Harvard School of Public Health and the University of East Anglia in England conducted a prospective study among 93,600 women ages 25-42, part of the Nurses‘ Health Study II. The women completed questionnaires about their diet every four years for 18 years.

During the study, 405 heart attacks occurred.

The study, published in Circulation: Journal of the American Heart Association, found the women who ate the most blueberries and strawberries had a 32-percent reduction in their risk of heart attack compared to women who ate the berries once a month or less -- even in women who otherwise ate a diet rich in other fruits and vegetables.

“Blueberries and strawberries contain high levels of compounds that have cardiovascular benefits,” Rimm said in a statement.

Blueberries and strawberries contain high levels of dietary flavonoids found in grapes and wine, blackberries, eggplant and other fruits and vegetables. A specific sub-class of flavonoids, called anthocyanins, might help dilate arteries, counter the buildup of plaque and provide other cardiovascular benefits, Rimm said. (UPI)

Samsung becomes top global mobile phone seller in 2012

Published : 2013-01-27 11:16
Updated : 2013-01-27 11:19

 South Korean tech giant Samsung Electronics Co. sold more than 400 million mobile phones last year, outstripping Nokia Corp. as the world's leading handset vendor, an industry report showed Sunday.

   According to the latest report by International Data Corp., Samsung's shipments of smartphones and other handsets jumped 22.7 percent on-year to 407 million in 2012, taking up 23.7 percent of the global cellphone market.

   In comparison, last year's top global vendor Nokia saw its sales tumble 19.5 percent from a year earlier to 335.6 million units for a 19.6 percent market share.

   Apple Inc. followed with sales of 136.8 million mobile phones for an 8 percent market share. Chinese handset manufacturer ZTE came in fourth with 65 million units, trailed by South Korea's LG Electronics Inc. with 55.9 million.

   Last year, global mobile phone shipments totaled 1.71 billion units, down 0.2 percent from the previous year, with 545.2 million smartphones sold.

   Smasung also clinched the top spot in the lucrative smartphone segment last year, according to the report.

   Samsung's smartphone shipments jumped 129 percent on-year to 215.8 million units last year for a global market share of 39.6 percent, up a whopping 20.6 percentage points from the previous year.

   Apple came a distant second with sales of 136.8 million units and a 25.1 percent market share.

   In the fourth quarter of last year, Samsung was also the top global vendor of mobile phones with sales of 111.2 million units, including 63.7 million smartphones, according to the report. (Yonhap News)