JAPAN: Japan's Corporate Ills

Renee Montagne and Steve Inskeep report on a few Japanese companies that have fallen on hard times.

TRANSCRIPT:

RENEE MONTAGNE, host:

And the troubles facing Toyota are the latest hit to Japan's struggle corporate culture. Japan Airlines, the national flagship, declared bankruptcy less than two weeks ago with a debt of more than $25 billion. It's going to cost the Japanese government some $10 billion just to keep the planes flying while the company reorganizes.

STEVE INSKEEP, host:

Honda, the country's number two automaker, recently issued a recall of its own for more than half-a-million cars. And last year, Sony posted its first annual loss in 14 years with grim predictions for the company's immediate financial future.

MONTAGNE: Some analysts note that Japan is facing pressure from its Asian rivals that can make quality products at a much lower cost. This month, the South Korean economy offered a telling example. South Korean exports of auto parts, semiconductors and consumer electronics posted their biggest gains in more than two decades.

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MONTAGNE: It's MORNING EDITION, from NPR News.