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Chung Mong Koo, Hyundai Motor Company Ltd. of South Korea is to be indicted on charges of embezzlement and misappropriation of funds. A city offical who was to give evidence in the corruption investigation, Park Suk An has been discovered dead under questionable circumstances.

Toyota Motor Corp. of Japan posted a soaring 39 percent increase in fourth quarter net income. Net income for 2005 increased 17 percent to 1.37 trillion Yen. Increasing market share edges the automobile giant closer to being the world's largest seller of cars.

Japan and Europe are becoming more influential on world economic growth. Consumer spending is poised for blastoff which could grow the economy.

Softbank Corp. of Japan is to acquire Vodafone KK also of Japan for approximately $15 million. The information technology company beat out two other rivals for the mobile phone company acquisition.

General Motors Corp. of the United States is to sell a 17 percent stake or $2 billion worth of shares in Suzuki Motor Corp. of Japan. The moneys raised will be used for restructuring, providing early retirement packages to some of the estimated 30,000 workers that are to be layed off.

Regie Nationale des Usines Renault of France has announced a series of management projections to increase earnings without job cuts. The automobile giant is to introduce 26 models, increase sales by 800,000 cars per year and increase its operating budget to six percent by 2009. Net profit was 3.37 billion in 2005, up by 19 percent from 2.84 billion last year.

Toyota Motor Corp. of Japan posted a 34 percent increase in net income to 398 billion Yen ($3.34 billion) for the third quarter. The automobile giant is to invest $11.8 billion in new plants and equipment upgrades to serve the United States market. The Japanese automobile maker is challenging United States automobile manufacturers market share.

Toyota Motor Corp. of Japan is forecasting a production record of 9.06 million cars for 2006, raising questions over who will be the car market King as Toyota goes up against General Motors Corp. of the United States. General Motors Corp. has held the number one spot for over 70 years and despite growth in overseas markets in downsizing in the United States, due to weak sales and high costs associated with retiree and employee benefits.

General Motors Corp. of the United States in joint venture with Saic Motor Corp. of China is to introduce gasoline-electric hybrid vehicles for the Chinese market by 2008. Hybrid automobiles are hot, with the high price of petroleum they lower gas consumption and reduce harmful emissions.

Both Compagnie Generale des Etablissement Michelin of France and Bridgestone Corp. of Japan keep closely guarded recipes that they are constantly improving for Formula One racing tires. Which tire company makes the fastest tires is a matter of great contention and prestige and translates into sales of regular tires.

The industrial heartland of Japan is booming, helping to grow the Japanese economy. Although manufacturing costs are the highest in Asia in Nagoya, Japan they are offset by having moved low-end production overseas keeping high-end products made in Japan.

Toyota Motor Corp. of Japan at the beginning of this year planned greater production and to increase market share with the goal of becoming the world's biggest car manufacturer rivaling General Motors Corp. First-quarter net profit decreased 6.9 percent due to development costs even as sales revenue increased.

Toyota Motor Corp. hopes that its plans for the production and sale of its sturdy new pickup truck, the Hilux, will spearhead its efforts to overtake General Motors Corp. as the world's number one auto maker. The Hilux and several related models are what the Japanese company is calling 'innovative international multipurpose vehicles.' These vehicles have been designed specifically to meet the needs of drivers in the emerging-market economies where they will be produced and sold.

Toyota Motor Corp. saw quarterly profit drop by 17 %. The company is seen to be sacrificing profits for increased market share. It in the process of building new plants around the world.

Rival auto makers General Motors Corp. and Toyota Motor Corp. are discussing a possible agreement to collaborate on the research and development of hybrid vehicles. If such a deal is reached each company will benefit from access to the other's current hybrid technologies.

Nissan Motor Company Ltd. is planning to increase its operating cash flow to $7 billion in an attempt to raise its credit rating. Net profit for the automobile company is up 1.7 percent from last year to $4.88 billion. Chief Executive Officer Carlos Ghosn has turned the company into magic with record profit growth for several consecutive financial quarters.

General Motors Corp. and Ford Motor Co. are both in serious financial difficulty but the United States government is not considering a bailout. Chairman Hiroshi Okuda of Toyota Motor Corp. has suggested the automobile giant may raise prices of cars sold in the United States. The declining fortunes of the American automobile industry is not good for Japan's car makers and could result in a damaging price war.

Carlos Ghosn is to be the Chief Executive Officer of both Regie Nationale des Usines Renault of France and Nissan Motor Company Ltd. of Japan. Regie Nationale des Usines Renault shares have increased 50 percent since the beginning of 2003 and the announcement that Carlos Ghosn is returning as Chief Executive Officer. The French labor union, Conderation Generale du Travail is bracing, concerned that there may be layoffs and the automobile company is expecting a shakeup.

The automobile industry in China has seen the home market fall out and global auto makers who have invested in China are planning to export cars to the United States and the European Union. Increased price competition, excessive production, decreased sales and the discontinuation of government financing are the causes.

Toyota Motor Corp. is jostling for position with General Motors Corp. to be the world's top automobile maker. Is Toyota Motor Corp. sacraficing profit for market share? The automobile giant has a market value of $138 billion.

Toyota Motor Corp. is attempting to claim 15% of the global market in the next few years, but the spending required to reach that goal has been driving down its stock prices.

Chief Executive Officer Carlos Ghosn of Nissan Motor Company Ltd. has appointed Toshiyuki Shiga Chief Operating Officer, while he takes on an additional post at Regie Nationale des Usines Renault.

Japanese auto maker Mitsubishi Motors is considering selling its weak U.S. operations, but may have difficulty finding a buyer.

Nissan Motor Company Ltd. reports increased sales in Europe, Japan and the United States, becoming a key brand. Sales were up 6.1 percent in January 2005 over the previous year, following a 24 percent increase in sales in 2004 overall.

Mitsubishi Motors Corp., in the wake of steep financial losses is to be given a bailout of $3 billion by corporate cousins.

The success that automotive executive Carlos Ghosn has had in rejuvenating operations at Japan's Nissan Motor Company Ltd. is discussed in light of his taking on the leadership of Nissan's major shareholder Renault S.A. in addition to his current post. Ghosn has set an ambitious public target for Nissan, stating that the car maker will boost annual sales by one million vehicles by September 2005.

Japan's three largest automobile companies, Toyota, Honda, and Nissan, are facing downward pressures on their stock value. Analysts are pointing to higher fuel costs and general economic uncertainty in the U.S. as key factors in suggesting a neutral stance to investors.