Corporate

SM Investments Corp. is beefing up investments in logistics to help spur more economic activity outside Metro Manila, where the parent company of the SM Group sees strong potential to drive future growth of its diverse businesses.

Nissan Motor is considering seeking a business partnership with Honda Motor on key components for electric vehicles to cut production costs, three people familiar with the matter at Nissan said.

San Miguel Corp. on Thursday reported net income in 2023 rising 67 percent to P44.69 billion from previous year’s P26.76 billion, notwithstanding a revenue decline owing to the tight prices in the oil market that impacted Petron Corp. and the performance of its power unit. 

Universal Robina Corp. (URC) sales for the year ended 31 December 2023 reached P158.4 billion, up 6 percent against a high base last year. Both the branded consumer foods (BCF) and the agro-industrial & commodities (AIC) businesses continued their momentum into the fourth quarter, growing sequentially versus the previous quarter.

Nickel Asia Corp. (NAC) has budgeted capital expenditure this year significantly lower than in 2023, the bulk of which is earmarked for the purchase of heavy equipment.