Tokyo  - Takashimaya Co, one of Japan's leading department-store operators, plans to open an outlet in Shanghai in 2012, hoping to boost its sales by entering the fast-growing Chinese market, the firm said Tuesday.

The company is to occupy eight floors, or 40,000 square metres, in a store in an upscale residential district of Gubei New Area in Shanghai. The total investment is to be 4 billion yen (42.73 million dollars), Takashimaya said.

"There will be a certain limit to pursuing a growth strategy inside Japan," Hideshi Mizuno, Takashimaya's managing director, said at a press conference in Tokyo.

Tokyo  - Japan's key Nikkei 225 Stock Average lost more than 2 per cent in Tuesday morning trading after the Dow Jones index hit record low in almost 12 years.

The Nikkei index declined 191.66 points, or 2.6 per cent, to 7,184.5.

The broader Topix index of all first section issues was also down 13.41 points, or 1.82 per cent, at 721.87.

On currency markets at 9 am (0000 GMT), the dollar traded at 94.37-42 yen, up from Monday's 5 pm quote of 93.35-38 yen.

Hanoi  - Japan is to resume its aid to Vietnam, after cutting it in December due to a corruption scandal, a Vietnamese minister said Monday.

Minister of Planning and Investment Vo Hong Phuc, who is on a week-long visit to Japan, told Vietnam Television Monday that Japan had decided to restore official development assistance (ODA) to Vietnam for the rest of 2009.

"Japan's resumption of ODA to Vietnam will contribute to boosting foreign investment and trade relations between the two countries," Phuc said.

Vietnam Television reported that Japan had committed 83.2 billion Yen (900 million dollars) in ODA to Vietnam this year, making it the country's top aid donor.

Tokyo - There have been no serious buyers for the Honda Formula One team, the company's CEO told a press conference in Tokyo Monday.

"There are various offers for the team but we have not seen any serious buyer yet," Takeo Fukui said. "We find the sale process difficult."

The second-largest Japanese carmaker announced its withdrawal from the sport last December because of the global economic crisis, sending shockwaves through the sport.

Tokyo - Japan and the United States are ready to work together to tackle the global economic slowdown when the leaders of the two nations meet Tuesday at the White House, a senior Japanese Foreign Affairs Ministry official said Monday.

The heads of the world's two largest economies were expected to agree to fight protectionism as Japanese Prime Minister Taro Aso becomes the first foreign leader to visit US President Barack Obama in Washington, the official said.

Japan had earlier conveyed its opposition to a "buy American" provision in a 787- billion-dollar US economic stimulus package signed into law last week.

Tokyo - Honda Motor Co announced Monday that it would appoint a new president in June to deal with a sales slowdown caused by the yen's surge against other major currencies and the dwindling consumer appetite amid the global economic downturn.

Japan's second-largest carmaker plans to promote Senior Managing Director Takanobu Ito to president. The decision was expected to be approved at a shareholders' meeting in June, Honda said.