mitsubishi announced the plan on monday. the plant's output of 40,000 units accounts for less of 20% of the firm's european sales target of 220,000 vehicles. the plant which has become old insufficient -- inefficient is mitsubishi's only production facility in europe. the firm will instead focus its resources in emerging economies where production costs are loer. it plans to increase europe bound exports from thailand. mitsubishi president spoke to reporters about the decision. >> translator: the business environment surrounding the auto industry has changed drastically since we expanded our operations to europe. the main auto maker has shifted from europe and the united states to emerging economies. >> the yen's strength and last year's flood in thailand continue to hurt japanese companies. sue sue ki motor is no exception. it has reported a profit drop for the first nine months of its fiscal year. sue sue ki says net profit between april and december fell 4.7% from a year earlier in yen terms to $527 million. sale wrs down

the factory is mitsubishi's only production facility in europe. all in all, the strong yen will likely leaig dent in japanese automakers' profits for the year through march. seven major carmakers have released theirarng f the previous quarter. the reports say that the companies will likely see a combined drop of about $10 billion in their orang pritorhente siss year. toyota expects to see a decline of $4 billion. nissan $2 bli o more, and honda over $1.6 billion. to cope with the continued strong yen, the auto firre stepping up production and parts procurement overseas. the issue ahead for the japanese auto sector is whether such asesilbeufcit boost their profits. >>> eurozone finance ministers have decided to hold an emergency conferee on thursday to discuss greece's debt problems. at the meeting, ministers are believed to urgreece t make a final decision as soon as possible. the decision came after greek prime minister lucas papademos met with ruling coalition leaders on whether to accept an austerity plan. fiscal reform is a precondition for re

we hear from mitsui, mitsubishi, and inpex, and gs yuasa. more on the green side, they make batteries for electrical cars. we will keep track of that. a lot of earnings to go through today. but nikkei and topix slightly in the negative this friday. back to you. >> all right, thanks for that. ramin mellegard from the tokyo stock exchange. >>> as ramin said in his report, sony is facing a huge loss. the newly appoint ceo announced his resolution. e ceo announced his resolutiod ceo announced his resolution. >> translator: i feel a sense of crisis. we are faced with a tough situation. if we don't act quickly, we will be beaten by the competition. >> he will take the helm of the electronics maker april 1st when the current president howard stringer steps down. he vows to turn around their loss making television business by cutting costs through more outsourcing. the tv operations are set to make a loss for the eight this straight year, offered to raise profitability boosting digital cameras and game consoles. let's look at the latest market figur

japanese buyers from mitsubishi, yes, that mitsubishi are on board, too.paid big bucks for blue fin and they'd like to buy the whole catch, 600 in all. the fish are weighed and measured and most are simply not big enough. only 54 will make the trip to toke dwroe. -- tokyo. >>> coming up the new blue fin tuna killing fields. >> if this trend continues? >> all i can say if we carry on like this we are bound to catastrophe. i mean it's as simple as that. normal fish, norm -- no more fish, no more industry, no more culture. >> the king of sushi continues when 60 minutes on cnbc returns. ♪ oh! [ baby crying ] ♪ what started as a whisper ♪ every day, millions of people choose to do the right thing. ♪ slowly turned to a scream ♪ there's an insurance company that does that, too. liberty mutual insurance. responsibility. what's your policy? ♪ amen, omen let's get a recap, merv.ack to the cleaning games. [ merv ] thanks, other merv. mr. clean magic eraser extra power was three times faster on permanent marker. elsewhere against dirt, it was a sweep, with scuffed spo

japanese buyers from mitsubishi-- yes, that mitsubishi-- are on board too.y big bucks for big bluefin, and they'd like to buy the whole catch, 600 in all. the fish are weighed and measured, and most are simply not big enough. only 54 will make the trip to tokyo. [ticking] >> coming up, the new bluefin tuna killing fields. >> and if this trend continues? >> all i can say is that if we carry on like this, we are bound to catastrophe. i mean, it's as simple as that. no more fish, no more industry, no more culture. >> the king of sushi continues when 60 minutes on cnbc returns. [ male announcer ] alka-seltzer plus presents: the cold truth. i have a cold. and i took nyquil, but i'm still stubbed up. [ male announcer ] sorry buddy. truth is, nyquil doesn't un-stuff your nose. what? it doesn't have a decongestant. really? [ male announcer ] you need a more complete cold and flu formula, like alka-seltzer plus liquid gels. it's specially formulated to fight your worst cold and flu symptoms, plus relieve your stuffy nose. [ deep breath ] thank you! [ male announcer ]

a focus as a sector, but individually, we're going to be looking at the trading houses such as mitsubishi, but also specific oil companies such as shoa shell, we're going to track that. it traded higher yesterday, but we'll see how it trades throughout the session today. ai? >> thanks for that update from the tokyo stock exchange. the nikkei and topix lower. let's see where south korea's markets are trading. that is the latest in business for this hour, back to catherine. >> thanks very much. we go to bangkok to find out what's making headlines in the region. >> investigators are hunting for clues following tuesday's explosions in bangkok that wounded five people, including an assailant. the united states and israel have suggested the blast could be linked to early incidents that took place in india and georgia. nhk world has more. >> 24 hours after three explosions rocked central bangkok, two of the three superintendents have been arrested. police say both men hold iranian passports. they are being charged with causing an illegal explosion in the public area and attempting to kill police

mitsubishi motor was the only car maker that showed a production decline in the month. japanese and u.s. negotiators are trying to figure out a way forward in okinawa. they've got stuck again on an agreement to relocate a u.s. marine corp. base. the futenma air station surrounded by residential neighborhoods and people there worry about accidents. a helicopter crashed in 2004 just outside the base. the residents' concerns have put the process in doubt. so have the worries of residents of the city where negotiators had hoped to move the base. >> reporter: around 3,000 marines and civilian workers are based in futenma. the marines update the aircraft. these helicopters flew to the uss germantown, a ship off the coast of okinawa. the ship then headed to waters near thailand carrying a large number of troops. after a week they left okinawa. the u.s. marines have appeared in thailand. a joint military drill was in full swing. it was being conducted by seven countries including japan and the united states. >> we support the blt and other units attached with air assets flying

mitsubishi motor was the only car maker that showed a production decline in the month. japanese and u.s. negotiators are trying to figure out a way forward in okinawa. they've got stuck again on an agreement to relocate a u.s. marine corp. base. the futenma air station surrounded by residential neighborhoods and people there worry about accidents. a helicopter crashed in 2004 just outside the base. the residents' concerns have put the process in doubt. so have the worries of residents of the city where negotiators had hoped to move the base. >> reporter: around 3,000 marines and civilian workers are based in futenma. the marines update the aircraft. these helicopters flew to the uss germantown, a ship off the coast of okinawa. the ship then headed to waters near thailand carrying a large number of troops. after a week they left okinawa. the u.s. marines have appeared in thailand. a joint military drill was in full swing. it was being conducted by seven countries including japan and the united states. >> we support the blt and other units attached with air assets flying

mitsubishi is manufacturing turbines and boilers at a factory in india. hi tach ee also building a factory there. with chinese and french businesses exploring the industry in india, competition to secure market share is becoming more intense. >>> now let's look at what we have on the global business calendar this week. on tuesday, the bank of japan will wind up a two day meeting of its policy board. financial markets are watching to see if the boj will change its policy stance in light of the yen sustained strength. on the same day in the u.s., the commerce department will release retail sales data for january. december sales inched up 0.1%. the gain small, but sales topped $400 billion for a second straight month. also in the united states, housing starts for january are due out thursday. in december, they showed a 4.1% month to month drop. finally friday, the u.s. consumer price index for january will be out. the cbi remained flat in november and december last year. >>> a recap now of the latest market figures. more business for you next hour. >>> "news

new headlights shine with as much as 20,000 candle power, but older cars, like this mitsubishi, measures low as 7,000 candle power. professional treatments to clean lenses sold at auto repair shops, including shops run by aaa, take about an hour and cost about $100. so, can fast bright do it faster and cheaper? to find out, we brought fast bright and its infomercial to aaa. it cost us about $26 for two fast bright kits, including procession and handling fees. >> just wipe it on and wipe it off and watch the haze turn to crystal clear. it's that easy. >> but -- does it really do that? >> the first thing it is pretty simple, put a dime-sitzed portion of the first product, step one, the lens polish, onto the applicator on the yellow side. >> okay. >> rub it in small circular motions briskly until the entire lens feels smooth. you can hear it, it is actually working like a sandpaper or liquid polish. all right. on step two, pour the lens protectant generously onto the blue side of the pad. >> generous? >> rub over the entire area and then buff with a clean, dry cloth. it feels smoother on t

world's third largest chipmaker was created through a merger of the dram operations of hitachi and mitsubishi electric. to rebuild its business, the firm is considering a tie-up with leading u.s. chipmaker micron technology. it also plans to move part of its production at its leading plant in japan to taiwan. the japanese government injected public funds into mill pita five years ago. dram chips are essential for digital equipment. japan's government is gearing up for negotiations with the united states on joining the transpacific partnership free trade agreement. negotiations with january and japan secured support from four of the nine countries involved including vietnam and brunei. japan will send senior officials from other agencies to washington for the u.s. negotiations which start next tuesday. >> they'll start preparing for preliminary talks on the conditions for japan's participation in the tpp free trade negotiations. the u.s. government is likely to push for a further opening on japan's agricultural and automobile industries with precise requests. japan will decide whether to join

associated with birth defects and cancer a cording to the study the unhealthiest vehicles are 2011 mitsubishi outlander sport, chrysler 200 sc and 2011 kia seoul. healthiest include 2012 honda civic. >> apple is changing rules for its app store and more speculation about whether tesla can survive. let's go live to emily chang with today's after the bell report. >> today we learned tesla is rusing money. the company lost $81 million over all, as 61% bigger lost than a year earlier despite boosting revenue. the co-founder from pay pal fame says tesla will be profitable by next year, we'll see. the new model s will be the first real test. deliveries are scheduled to start in july. and this is different than what they have to say last week. >> that is because this is like toyota. we sell power trains. >> and there may be light at the end of the road. the chairman of ed mundz.com told us he expects demand to climb as cars get more appealing. apple is changing its policy to require app makers to get approval and this is up loading and storing user contacts without permission. apple says it was in v

the worst offender was a 2011 mitsubishi outlander sport.ked through a food borne illness once again at jimmy john's restaurants. at least 12 cases of e. coli poisoning in five states. i will, missouri, kansas, arkansas, and wisconsin. two victims have been possible los -- have been hospitalized. moody's is considering downgrading the credit rating of bank of america, goldman sachs, j.p. morgan chase, and morgan stanley. that's business news from bloomberg headquarters in new york. linda bell reporting for abc 7 news. >> its thursday morning. >> we want to a a check on traffic and weather. adam caskey with us. that's after the break. jim wilson? here is the chase freedom 5% cash back you get on amazon.com purchases. wow! and your kindle fire. thank you. do you have any bubble wrap? activate your 5% cash back at chase.com/freedom captioned by the national captioning institute --www.ncicap.org-- collect thursday morning. we have cloudy skies outside the metro area but no rain falling. we will make it through the majority of the rush hour witho

toyota, nissan, and mitsubishi all gained around 2%. and chinese e-commerce site alibaba.com. the session ended up about a third of a percent. shares jumped 43% after it resumed trading on wednesday. shares had been suspended since february 9th as parent company ali baba discussed buying back yahoo! stake. it was property stocks that were the main gainers in shanghai, mainly after shanghai said it would loosen restrictions on owning a second home. charles? >>> let's have a look at wall street. trading volumes were light as markets reopened following the presidents day holiday. stocks rose early in tuesday's session after news of greece's debt deal. the dow jumped briefly above the 13,000 mark for the first time in nearly four years. gains, though, were fairly muted by the close. let's have a look ahead to the start of trade in new york later on wednesday. and in terms of futures, we do seem to be looking at higher open there for the u.s. markets. it seems like the european markets have disconnected from both asia and the united states, and that good news out of the u.s. econom

they were believed to be in a white mitsubishi lancer. wife, two kids back in florida. before he was a firefighter, he was a member of the united states marine corps. >>> today the united states and north korea north korea restarted nuclear starts until the young and mysterious new leader. kim jong-un not even yet 30, but he has ascended to the north korean leadership upon the death of his father, the long-serves kim jong-il. for science and international affairs. john we're going to get to the talks specifically in a moment, but i just have to ask about kim jong-un. have we learned anything more about him since he assumed power back in late december? >> yes, you know, north korean propaganda has been showing a lot of footage with inspection tours, traveling to different parts of as more footage of him, we don't know what he sounds like. no one actually knows what his voice sounds like, in a sense there's been no audio of this. there are two south korean officials, the former president, his widow, and the former chairman and his widow, bo

the 2011 mitsubishi outlander sport and the 2011 chrysler 200sc had the least healthy.hat are you supposed to do then? >> i don't know. i get you can roll down the windows and drive quickly. >> good idea. too bad. >> that smell is nice. >> yeah. >>> 6:26. ahead, a tragedy in california. law enforcement officers shooting each other in a government building. >>> also, how president obama helped lead investigators to suspected drug smugglers. suspected drug smugglers. >>> hi. welcome to carmax. hi. i was on carmax dot com and i think i found the one. great car. and i think, it's right over there... (sighes)... finding your perfect car is easy at carmax because we carry only the highest quality used vehicles. and at carmax dot com, you can choose from nearly 30 thousand cars with most available for transfer to the store nearest you. so come find the one for you today... at carmax. busy day! yes it is! >>> breaking news. a fiery welcome overnight slowing down traffic on the beltway. how to avoid getting stuck. >>> and stormwatch, a rainmaker in texas could pack a winter punc

the mitsubishi outlander sport and 2011 chrysler sc had the most. >>> the federal government is puttingressure on auto makes to put the brakes on distracted driving. the government says the little gadgets that make your life easier are causing too much harm on the road. erika gonzalez is here to tell us what they'll do. >> reporter: the u.s. department of transportation wants to make it harder to tinker with the digital toys in your car. the proposal applies to things like gps's, phones, and of course the internet, used while driving. the national highway safety administration says distracted driving as dangerous and deadly habit on america's roadways. it is going after auto makers with new proposed gins. nhtsa says the vehicles should be equipped with items that meet desires without sacrificing safety. >> hands free only. >> i think it's a good idea. >> reporter: in fairfax county distracted driving is illegal and can cost you up to 250 bucks. >> if you take your eyes off the road something can happen within two seconds. you don't realize how fast your car is going and you don't realiz

the older cars like this mitsubishi measure as low as 7,000 candle power. professional treatments to clean lenses sold at auto repair shops including shops run by triple-a take about an hour and cost about a hundred dollars. so can fast bright do it faster and cheaper? to find out we brought fast brite to triple-a t cost us $26 for two kits including processing and handling fees. >> just wipe it on and wipe it off. watch the haze turn to crystal clear. it's that easy. >> but does it really do that. >> it's pretty simple. you put a dime sized portion of the first product the lens polish. use circular motions briskly until the entire lens feels smooth. you can hear it. it's actually working like a sand paper or liquid polish. all right. on step two pour the lens protectant generously on to the blue side of the pad. rub over the entire area then buff with a clean, dry cloth. it feels smoother on the surface. it feels like we have taken off some of the abrasiveness to it. >> but is the headlight brighter? remember, it started at 7,000 candle power. >> we're rig

for example, in april morgan stanley agreed to convert most of mitsubishi financial's $9 billion preferrednto common stock. paying 2 billion up front to save about 784 million in annual dividend payments. a move that will more than pay for itself in less than three years. back in 2010 they did the same thing with china investment corp. 9.9% stake in the company eliminating the 9% quarterly dividends morgan stanley had to pay the chinese. in december morgan stanley put another thing past. they came up with a settlement with mbia the mortgage insurer ultimately writing down the entire $1.8 billion the val value of the investment. they've taken writedowns on their legacy real estate assets. they've been incredible at cleaning things up. and as a result the book value here's been cleaned up too. book value, remember, is the best way to value a bank. essentially the company's net asset value, the accounting value of the firm, if you were just to liquidate everything tomorrow. before the writedowns it was possible you could say morgan stanley's real book value wasn't real. because the actual num

mitsubishi is also in our state and we're a great auto making state. and that's part of america.ur president did. he rescued the auto industry and now we're roaring back. >> governor, i'm from reuters. what does -- you've just been talking about the big auto rescue which was controversial at the time. mitt romney was publicly opposed to it. are you saying now that you think that was a good idea and that's sort of big government intervention in the economy has been proven to work? >> it was a rescue operation by president barack obama from the state of illinois. and he understands how important it is to have a job. i looked in the faces of all those auto worker yesterday when i was there. they're hardworking men and women. they believe in hard work and they deserve a decent chance. and they're tremendously skilled in talking to the ceo of chrysler he said one of the reasons they picked illinois and our belvedere plant is because of the skill of the workers. and i think it's important not to lose track of the fact that it's made in america, made in illinois, those are my favorite w

mitsubishi motor rose 1%. it will end auto production in europe.t will discontinue operations in its factory in the netherlands by the end of this year due to slumping sales and it is seeking to sell the plant. after the market closed suzuki motors set its operating profit for the nine months through december was down 5% to about $1.1 billion. it suffered from slashed output due to the march 11th quake, the strong yen and strikes in its factories in india, but the firm capped its forecast for the year ending marseillesing net profit will likely grow 11% due to reduced costs. and stocks added 1.6% today. that's all from the nikkei business report. back to you, christine. >> makiko utsuda, thank you. joining us now for a panel, japanese automakers seem to be heading for a rebound after taking massive losses last year. joining us to talk more, what's the output in 2012? we have our panel andrew jackson head of automotive analysis, the vice president automotive and transportation at ross and sullivan. thank you for being with us. last year was terrible

we've seen more dmomg to the market today whether it's bank of torque yor of tokyo, mitsubishi. >> withlux will more business school grads start looking west? we actually have two of the biggest business school meetings coming up. speaking of a man that made amends, gene simmons. >> do you think he'll come in full makeup >> the front man for kiss with us to tell us about his new venture. some early movers on this tuesday. don't go away. what makes the sleep number store different? you walk into a conventional mattress store, it's really not about you. they say, "well, if you want a firm bed you can lie on one of those, if you want a soft bed you can lie on one of those." we provide the exact individualization that your body needs. welcome to the ultimate sleep number event. not just ordinary beds on sale, but the bed that can change your life on sale. the sleep number bed. this is your body there. you can see a little more pressure in the shoulders and in the hips. now you can feel what happens as we raise your sleep number setting and allow the bed to contour to your individual shape.

brian ross writes "i live in tampa, i own a mitsubishi montero sport. the tune of $72. the planned trip to the grocery store afterwards was subsequently delayed until friday. something has to change with these gas prices." gary king wrote in saying i'm spending $800 on gas every month which does not allow me to put money in savings anymore. we are hurting out here! >> california hurting the most. illinois hurting quite a bit and then when you go into hawaii and alaska even more because of location of supplies. >> yeah. >> so gas costs so much. but we were -- that can be offset by all the money we're saving in health care, right? >> not so much. >> this is really interesting. one of the premier architects of obamacare, a gentleman -- the m.i.t. scholar by the name of jonathan gruber who was involved with putting the thing together. remember, they were going to bend the cost curve down with obamacare. he came out over the weekend and said i think we may have a problem here. houston, we have a problem. problem is the costs are going up. theori they're risi