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Lexus chief to take over Toyota as founder’s grandson steps down

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TOKYO — Toyota’s chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand as the Japanese giant struggles to meet the shift to electric vehicles.

The 53-year-old chief branding officer and president of Toyota Motor Corp’s Lexus brand, Koji Sato, will take over from April 1 when Akio Toyoda becomes chairman, it said.

The issue of who would take over the top spot at Toyota – Japan’s biggest company and one of the world’s most influential manufacturers – has been an increasing focus for investors. But the timing of the announcement was a surprise.

Under the 66-year-old Toyoda, who led the company for more than a decade, the automaker has appeared reluctant to embrace electric vehicles, arguing the hybrid technology it pioneered with its once market-leading Prius was a better fit for many drivers.

It also touted hydrogen-powered cars as the future, raising fears it would be left behind by the rise of electric vehicles, as the flashier and more nimble Tesla Inc eclipsed it in both innovation and share price.

That insistence on hybrids and hydrogen also prompted criticism from investors and environmental activists who once widely praised Toyota’s technology and emissions record.

“No doubt Mr. Toyoda has been a competent CEO, but the whole auto sector needs to make disruptive change and Toyota has been lagging in this in our view, so this could be chance for a fresh start,” said Anders Schelde, chief investment officer of Danish pension fund AkademikerPension, which has repeatedly pressed Toyota to accelerate its shift to electric vehicles.

“We are hopeful this could help Toyota to set a new direction, but it remains to be seen.”

The succession announcement was broadcast on a webcast through the automaker’s Toyota Times channel in what looked more like a stilted talk show with a host rather than a formal corporate announcement.

“The timing of this was a surprise,” said Seiji Sugiura, an analyst at Tokai Tokyo Research Institute, who noted there may have been a “sense of stagnation” inside the company given recent pressure on the share price.

“Probably, the day-to-day management will not change. Having Akio Toyoda step away from being CEO may increase his symbolism within the company and it may be hard for the young, new president to really show his hand.”

There was also little mention of concrete corporate strategy or investment priorities to come. Toyoda said Sato’s mission would be to transform Toyota into a “mobility company,” without specifying what that would entail.

“The CEO needs youth, energy, strength,” Toyoda said, saying that he himself was now a “relic” of an older generation. In Sato, too, he said, he had chosen a fellow car aficionado.

‘Baton touch’

Toyoda described the hand-off as a “baton touch” in leadership, but the staged event highlighted his continued central role. He turned from time to time to offer instruction and reminders to Sato.

Sato said Toyoda had offered him the CEO job at the end of the year when both were in Thailand for an event to celebrate Toyota’s 60th anniversary of operations there.

“I didn’t know how to respond,” Sato recalled. “I thought it was a joke.”

One Toyota executive, who asked not to be identified, said the automaker was headed for a period of “cloistered rule,” referring to the period in Japan’s history when a retired emperor continued to call the shots.

During his more than a decade at the top, Toyoda presided over the carmaker during a period of intense change in the industry and rising uncertainty about how legacy automakers can fend off the challenge from newer challengers such as Tesla.

Toyoda, speaking at a news conference, said his term at the helm of Toyota started in 2009 with “crisis after crisis” from the effects of a global recession, to Toyota’s recalls and safety crisis to the disruptions that followed the 2011 earthquake and tsunami in northern Japan.

At a shareholder meeting in June last year, Toyoda said he was “thinking about timing and the selection of a successor” when asked about his future.

On Thursday, he said Sato was chosen because he “worked hard” to learn Toyota’s philosophy.

Sato started his career at Toyota in 1992, before rising through the ranks to become chief engineer of Lexus International, a luxury auto brand of Toyota, in 2016, according to his profile on the company’s website.

He has held positions as the president of Lexus International and Gazoo Racing Company, Toyota’s motorsport brand, since 2020. He also took on an executive role at Toyota and became its chief branding officer in January 2021.

Philip Craven, a Toyota director, said in a recorded video statement that the board had reviewed and approved the succession plan put forward by Toyoda and the outgoing chairman, Takeshi Uchiyamada.

TOKYO — Toyota’s chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand as the Japanese giant struggles to meet the shift to electric vehicles.

The 53-year-old chief branding officer and president of Toyota Motor Corp’s Lexus brand, Koji Sato, will take over from April 1 when Akio Toyoda becomes chairman, it said.

The issue of who would take over the top spot at Toyota – Japan’s biggest company and one of the world’s most influential manufacturers – has been an increasing focus for investors. But the timing of the announcement was a surprise.

Under the 66-year-old Toyoda, who led the company for more than a decade, the automaker has appeared reluctant to embrace electric vehicles, arguing the hybrid technology it pioneered with its once market-leading Prius was a better fit for many drivers.

It also touted hydrogen-powered cars as the future, raising fears it would be left behind by the rise of electric vehicles, as the flashier and more nimble Tesla Inc eclipsed it in both innovation and share price.

That insistence on hybrids and hydrogen also prompted criticism from investors and environmental activists who once widely praised Toyota’s technology and emissions record.

“No doubt Mr. Toyoda has been a competent CEO, but the whole auto sector needs to make disruptive change and Toyota has been lagging in this in our view, so this could be chance for a fresh start,” said Anders Schelde, chief investment officer of Danish pension fund AkademikerPension, which has repeatedly pressed Toyota to accelerate its shift to electric vehicles.

“We are hopeful this could help Toyota to set a new direction, but it remains to be seen.”

The succession announcement was broadcast on a webcast through the automaker’s Toyota Times channel in what looked more like a stilted talk show with a host rather than a formal corporate announcement.

“The timing of this was a surprise,” said Seiji Sugiura, an analyst at Tokai Tokyo Research Institute, who noted there may have been a “sense of stagnation” inside the company given recent pressure on the share price.

“Probably, the day-to-day management will not change. Having Akio Toyoda step away from being CEO may increase his symbolism within the company and it may be hard for the young, new president to really show his hand.”

There was also little mention of concrete corporate strategy or investment priorities to come. Toyoda said Sato’s mission would be to transform Toyota into a “mobility company,” without specifying what that would entail.

“The CEO needs youth, energy, strength,” Toyoda said, saying that he himself was now a “relic” of an older generation. In Sato, too, he said, he had chosen a fellow car aficionado.

‘Baton touch’

Toyoda described the hand-off as a “baton touch” in leadership, but the staged event highlighted his continued central role. He turned from time to time to offer instruction and reminders to Sato.

Sato said Toyoda had offered him the CEO job at the end of the year when both were in Thailand for an event to celebrate Toyota’s 60th anniversary of operations there.

“I didn’t know how to respond,” Sato recalled. “I thought it was a joke.”

One Toyota executive, who asked not to be identified, said the automaker was headed for a period of “cloistered rule,” referring to the period in Japan’s history when a retired emperor continued to call the shots.

During his more than a decade at the top, Toyoda presided over the carmaker during a period of intense change in the industry and rising uncertainty about how legacy automakers can fend off the challenge from newer challengers such as Tesla.

Toyoda, speaking at a news conference, said his term at the helm of Toyota started in 2009 with “crisis after crisis” from the effects of a global recession, to Toyota’s recalls and safety crisis to the disruptions that followed the 2011 earthquake and tsunami in northern Japan.

At a shareholder meeting in June last year, Toyoda said he was “thinking about timing and the selection of a successor” when asked about his future.

On Thursday, he said Sato was chosen because he “worked hard” to learn Toyota’s philosophy.

Sato started his career at Toyota in 1992, before rising through the ranks to become chief engineer of Lexus International, a luxury auto brand of Toyota, in 2016, according to his profile on the company’s website.

He has held positions as the president of Lexus International and Gazoo Racing Company, Toyota’s motorsport brand, since 2020. He also took on an executive role at Toyota and became its chief branding officer in January 2021.

Philip Craven, a Toyota director, said in a recorded video statement that the board had reviewed and approved the succession plan put forward by Toyoda and the outgoing chairman, Takeshi Uchiyamada.

Source: https://tuoitrenews.vn/news/international/20230127/lexus-chief-to-take-over-toyota-as-founder-s-grandson-steps-down/71146.html

International

At least nine dead, 44 injured in Pakistan after earthquake

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At least nine people were dead and 44 injured in Pakistan’s Khyber Pakhtunkhwa province, a government official said, after a magnitude 6.5 earthquake with its epicentre in Afghanistan struck late on Tuesday.

At least 19 houses were partially damaged by the earthquake, Abdul Basit, a senior official in the Khyber Pakhtunkhwa government told Reuters on Wednesday.

At least nine people were dead and 44 injured in Pakistan’s Khyber Pakhtunkhwa province, a government official said, after a magnitude 6.5 earthquake with its epicentre in Afghanistan struck late on Tuesday.

At least 19 houses were partially damaged by the earthquake, Abdul Basit, a senior official in the Khyber Pakhtunkhwa government told Reuters on Wednesday.

Source: https://tuoitrenews.vn/news/international/20230322/at-least-nine-dead-44-injured-in-pakistan-after-earthquake/72202.html

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Asteroid discovery suggests ingredients for life on Earth came from space

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Two organic compounds essential for living organisms have been found in samples retrieved from the asteroid Ryugu, buttressing the notion that some ingredients crucial for the advent of life arrived on Earth aboard rocks from space billions of years ago.

Scientists said on Tuesday they detected uracil and niacin in rocks obtained by the Japanese Space Agency’s Hayabusa2 spacecraft from two sites on Ryugu in 2019. Uracil is one of the chemical building blocks for RNA, a molecule carrying directions for building and operating living organisms. Niacin, also called Vitamin B3 or nicotinic acid, is vital for their metabolism.

The Ryugu samples, which looked like dark-gray rubble, were transported 155 million miles (250 million km) back to Earth and returned to our planet’s surface in a sealed capsule that landed in 2020 in Australia’s remote outback for analysis in Japan.

Scientists long have pondered about the conditions necessary for life to arise after Earth formed about 4.5 billion years ago. The new findings fit well with the hypothesis that bodies like comets, asteroids and meteorites that bombarded early Earth seeded the young planet with compounds that helped pave the way for the first microbes.

Scientists previously detected key organic molecules in carbon-rich meteorites found on Earth. But there was the question of whether these space rocks had been contaminated by exposure to the Earth’s environment after landing.

“Our key finding is that uracil and niacin, both of which are of biological significance, are indeed present in extraterrestrial environments and they may have been provided to the early Earth as a component of asteroids and meteorites. We suspect they had a role in prebiotic evolution on Earth and possibly for the emergence of first life,” said astrochemist Yasuhiro Oba of Hokkaido University in Japan, lead author of the research published in the journal Nature Communications.

Carbonaceous rock samples retrieved from the asteroid Ryugu, that were subjected to chemical analysis by Hayabusa2 soluble organic matter (SOM) team members, led by Hiroshi Naraoka, Yoshinori Takano and Jason Dworkin, are seen in this undated handout photo. JAXA/Handout via Reuters

Carbonaceous rock samples retrieved from the asteroid Ryugu, that were subjected to chemical analysis by Hayabusa2 soluble organic matter (SOM) team members, led by Hiroshi Naraoka, Yoshinori Takano and Jason Dworkin, are seen in this undated handout photo. JAXA/Handout via Reuters

“These molecules on Ryugu were recovered in a pristine extraterrestrial setting,” Oba said. “It was directly sampled on the asteroid Ryugu and returned to Earth, and finally to laboratories without any contact with terrestrial contaminants.”

RNA, short for ribonucleic acid, would not be possible without uracil. RNA, a molecule present in all living cells, is vital in coding, regulation and activity of genes. RNA has structural similarities to DNA, a molecule that carries an organism’s genetic blueprint.

Niacin is important in underpinning metabolism and can help produce the “energy” that powers living organisms.

The researchers extracted uracil, niacin and some other organic compounds in the Ryugu samples by soaking the material in hot water and then performing analyses called liquid chromatography and high-resolution mass spectrometry.

Organic astrochemist and study co-author Yoshinori Takano of the Japan Agency for Marine-Earth Science and Technology (JAMSTEC) said he is now looking forward to the results of analyses on samples being returned to Earth in September from another asteroid. The U.S. space agency NASA during its OSIRIS-REx mission collected samples in 2020 from the asteroid Bennu.

Oba said uracil and niacin were found at both landing sites on Ryugu, which is about a half-mile (900 meters) in diameter and is classified as a near-Earth asteroid. The concentrations of the compounds were higher at one of the sites than the other.

The sample from the site with the lower concentrations was derived from surface material more susceptible to degradation induced by energetic particles darting through space, Oba said. The sample from the other site was mainly derived from subsurface material more protected from degradation, Oba added.

Asteroids are rocky primordial bodies that formed in the early solar system. The researchers suggest that the organic compounds found on Ryugu may have been formed with the help of chemical reactions caused by starlight in icy materials residing in interstellar space.

Two organic compounds essential for living organisms have been found in samples retrieved from the asteroid Ryugu, buttressing the notion that some ingredients crucial for the advent of life arrived on Earth aboard rocks from space billions of years ago.

Scientists said on Tuesday they detected uracil and niacin in rocks obtained by the Japanese Space Agency’s Hayabusa2 spacecraft from two sites on Ryugu in 2019. Uracil is one of the chemical building blocks for RNA, a molecule carrying directions for building and operating living organisms. Niacin, also called Vitamin B3 or nicotinic acid, is vital for their metabolism.

The Ryugu samples, which looked like dark-gray rubble, were transported 155 million miles (250 million km) back to Earth and returned to our planet’s surface in a sealed capsule that landed in 2020 in Australia’s remote outback for analysis in Japan.

Scientists long have pondered about the conditions necessary for life to arise after Earth formed about 4.5 billion years ago. The new findings fit well with the hypothesis that bodies like comets, asteroids and meteorites that bombarded early Earth seeded the young planet with compounds that helped pave the way for the first microbes.

Scientists previously detected key organic molecules in carbon-rich meteorites found on Earth. But there was the question of whether these space rocks had been contaminated by exposure to the Earth’s environment after landing.

“Our key finding is that uracil and niacin, both of which are of biological significance, are indeed present in extraterrestrial environments and they may have been provided to the early Earth as a component of asteroids and meteorites. We suspect they had a role in prebiotic evolution on Earth and possibly for the emergence of first life,” said astrochemist Yasuhiro Oba of Hokkaido University in Japan, lead author of the research published in the journal Nature Communications.

Carbonaceous rock samples retrieved from the asteroid Ryugu, that were subjected to chemical analysis by Hayabusa2 soluble organic matter (SOM) team members, led by Hiroshi Naraoka, Yoshinori Takano and Jason Dworkin, are seen in this undated handout photo. JAXA/Handout via Reuters

Carbonaceous rock samples retrieved from the asteroid Ryugu, that were subjected to chemical analysis by Hayabusa2 soluble organic matter (SOM) team members, led by Hiroshi Naraoka, Yoshinori Takano and Jason Dworkin, are seen in this undated handout photo. JAXA/Handout via Reuters

“These molecules on Ryugu were recovered in a pristine extraterrestrial setting,” Oba said. “It was directly sampled on the asteroid Ryugu and returned to Earth, and finally to laboratories without any contact with terrestrial contaminants.”

RNA, short for ribonucleic acid, would not be possible without uracil. RNA, a molecule present in all living cells, is vital in coding, regulation and activity of genes. RNA has structural similarities to DNA, a molecule that carries an organism’s genetic blueprint.

Niacin is important in underpinning metabolism and can help produce the “energy” that powers living organisms.

The researchers extracted uracil, niacin and some other organic compounds in the Ryugu samples by soaking the material in hot water and then performing analyses called liquid chromatography and high-resolution mass spectrometry.

Organic astrochemist and study co-author Yoshinori Takano of the Japan Agency for Marine-Earth Science and Technology (JAMSTEC) said he is now looking forward to the results of analyses on samples being returned to Earth in September from another asteroid. The U.S. space agency NASA during its OSIRIS-REx mission collected samples in 2020 from the asteroid Bennu.

Oba said uracil and niacin were found at both landing sites on Ryugu, which is about a half-mile (900 meters) in diameter and is classified as a near-Earth asteroid. The concentrations of the compounds were higher at one of the sites than the other.

The sample from the site with the lower concentrations was derived from surface material more susceptible to degradation induced by energetic particles darting through space, Oba said. The sample from the other site was mainly derived from subsurface material more protected from degradation, Oba added.

Asteroids are rocky primordial bodies that formed in the early solar system. The researchers suggest that the organic compounds found on Ryugu may have been formed with the help of chemical reactions caused by starlight in icy materials residing in interstellar space.

Source: https://tuoitrenews.vn/news/international/20230322/asteroid-discovery-suggests-ingredients-for-life-on-earth-came-from-space/72203.html

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‘Climate time bomb ticking’, emissions must urgently be cut, UN chief says

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U.N. Secretary General Antonio Guterres warned that the “climate time bomb is ticking” as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate change.

“The rate of temperature rise in the last half century is the highest in 2,000 years,” he said. “Concentrations of carbon dioxide are at their highest in at least 2 million years. The climate time-bomb is ticking.”

In a recorded address, Guterres described the sixth “synthesis report” from the U.N.’s Intergovernmental Panel on Climate Change (IPCC) as “a survival guide for humanity” and urged developed countries to commit to reaching net zero emissions by the earlier date of around 2040.

The synthesis report summarized findings from three expert assessments published between 2021 and 2022 that looked at the physical science, impacts, and mitigation of climate change. The summary report is designed to provide clarity for policymakers as they consider further action to slash emissions.

“We have the tools to stave off and reduce the risks of the worst impacts of the climate crisis, but we must take advantage of this moment to act now,” said U.S. climate envoy John Kerry.

The 37-page report was distilled from thousands of pages of previous assessments after a week of deliberations in Interlaken, Switzerland.

The document will also serve as a guide for a global climate change “stocktake” set to take place this year, in which countries will assess progress. Under the 2015 Paris Agreement, nations are also expected to update climate pledges by 2025.

According to the IPCC, emissions must be halved by the mid-2030s if the world is to have any chance of limiting temperature rise to 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels – a key target enshrined in the Paris accord.

“If we act now, we can still secure a liveable sustainable future for all,” said IPCC Chair Hoesung Lee.

On current trajectories, the planet is on track to warm by 3.2C by century’s end, and temperatures could still rise by at least 2.2C even if existing pledges are met.

Average temperatures are already 1.1C higher than 1850-1900 levels, driving more extreme weather events worldwide.

“In the words of very senior colleagues in the IPCC, we’re up the proverbial creek – that’s really the key message from the report,” said synthesis report co-author Frank Jotzo of Australian National University.

Observers said the major areas of contention included the language around finance and the projected impacts of climate change, as well as the issue of “equity” and climate justice for poorer countries.

Some governments also wanted to give more prominence to their own favoured climate solutions, including solar power or carbon capture.

The IPCC says the world needs to accelerate the transition to green energy and transform agriculture and eating habits if it has any chance of making the necessary cuts in emissions.

It also warned of more extreme weather, rapidly rising sea levels, melting Arctic ice and the growing likelihood of catastrophic and irreversible “tipping points”. They also said nearly half the world’s population was already vulnerable to climate impacts.

“In short, our world needs climate action on all fronts – everything, everywhere, all at once,” said Guterres.

U.N. Secretary General Antonio Guterres warned that the “climate time bomb is ticking” as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate change.

“The rate of temperature rise in the last half century is the highest in 2,000 years,” he said. “Concentrations of carbon dioxide are at their highest in at least 2 million years. The climate time-bomb is ticking.”

In a recorded address, Guterres described the sixth “synthesis report” from the U.N.’s Intergovernmental Panel on Climate Change (IPCC) as “a survival guide for humanity” and urged developed countries to commit to reaching net zero emissions by the earlier date of around 2040.

The synthesis report summarized findings from three expert assessments published between 2021 and 2022 that looked at the physical science, impacts, and mitigation of climate change. The summary report is designed to provide clarity for policymakers as they consider further action to slash emissions.

“We have the tools to stave off and reduce the risks of the worst impacts of the climate crisis, but we must take advantage of this moment to act now,” said U.S. climate envoy John Kerry.

The 37-page report was distilled from thousands of pages of previous assessments after a week of deliberations in Interlaken, Switzerland.

The document will also serve as a guide for a global climate change “stocktake” set to take place this year, in which countries will assess progress. Under the 2015 Paris Agreement, nations are also expected to update climate pledges by 2025.

According to the IPCC, emissions must be halved by the mid-2030s if the world is to have any chance of limiting temperature rise to 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels – a key target enshrined in the Paris accord.

“If we act now, we can still secure a liveable sustainable future for all,” said IPCC Chair Hoesung Lee.

On current trajectories, the planet is on track to warm by 3.2C by century’s end, and temperatures could still rise by at least 2.2C even if existing pledges are met.

Average temperatures are already 1.1C higher than 1850-1900 levels, driving more extreme weather events worldwide.

“In the words of very senior colleagues in the IPCC, we’re up the proverbial creek – that’s really the key message from the report,” said synthesis report co-author Frank Jotzo of Australian National University.

Observers said the major areas of contention included the language around finance and the projected impacts of climate change, as well as the issue of “equity” and climate justice for poorer countries.

Some governments also wanted to give more prominence to their own favoured climate solutions, including solar power or carbon capture.

The IPCC says the world needs to accelerate the transition to green energy and transform agriculture and eating habits if it has any chance of making the necessary cuts in emissions.

It also warned of more extreme weather, rapidly rising sea levels, melting Arctic ice and the growing likelihood of catastrophic and irreversible “tipping points”. They also said nearly half the world’s population was already vulnerable to climate impacts.

“In short, our world needs climate action on all fronts – everything, everywhere, all at once,” said Guterres.

Source: https://tuoitrenews.vn/news/international/20230321/climate-time-bomb-ticking-emissions-must-urgently-be-cut-un-chief-says/72194.html

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