Japanese Sports Club Ownership, Sponsorship Hurt by Recession
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When NKK Corp., Japan's second-largest steelmaker, started looking for ways to slash costs, it brought the ax down on the professional basketball team it's owned since 1939.
Ditto Furukawa Electric Co., an electric cable manufacturer, which is disbanding its 74-year-old championship-winning pro ice hockey team in a couple of months to save money.