said he hoped to hand over the reins to arora been his 60th birthday but he feels he needs more time. he needs another 5 to 10 years at the helm and this is not the time to keep arora waiting. >>> japan wastes six million tons of food every year. consumers are responsible for about half that. producers and distributors play a role too. they have to dispose of food that hasn't been shipped or sold by a certain time. so companies are coming up with new ways to keep perfectly good food out of trash can. >> translator: these product will be thrown out. >> reporter: executives are testing a new system aimed at cutting down on wastes. they've teamed up with a weather consulting firm to create business forecasts based on weather data. >> translator: we send information like there every day so the company can predict demand for tofu. >> reporter: the data includes a special index which projects consumers appetite for tofu. it analyze temperature and past sales results. it indicates whether demand is likely to rise or fall on the following day. thanks to the system, the company wasted 30% les

the company's number two, president nikesh arora, has stepped down. he had been viewed as the likely successor to chairman and chief executive masa son. softbank group says arora quit after its annual shareholders meeting wednesday. he w will sererve as an advisorm july 1. >> i would likike to seek your support to transitioion to an advisor so i can keep supporting mr. son. >> arora was wooed to softbank in 2014 from google and became group president and receive operating officer last year.. softbank group firms include sprint andnd yahoo japan. the 58-year-olold chairmrman explained the move. >>>> translator:r: i had hoped and over the b baton o on my 60 birthday, but i now feel that i want to continue the job for a little bit longer. >> and that decision has stirred mixed reaction. softbank group's shareholders attended the meeting held in tokyo. >> translator: i trust son. i don't think he is making any mistakes in his decision. >> translator: it's a big shock for me that the company's number two quit his post. >> the company also announced that it

no reason given for arora stepping down. emily: back to my conversation with in's graham ceo -- instagram ceo and cofounder kevin systrom. in part three of my interview, i asked him to talk about his vision for video and his thoughts on the competition, a.k.a. snapchat. sonny about video, everyone wrote it off. what of -- what funny -- is funny about video, everyone wrote it off. what we have seen his people spending time watching video. it has grown 150% in just a few short months. more and is becoming more video dominant, video heavy. i think that is a sign of the times. people are taking more video, can you make more video. more video. all these influencers we were talking about that are going to vidcon are using video as well. emily: what is the vision of around big events like the oscars and the super bowl? 60the idea of expanding to seconds is all about being community first. 15 seconds is too short to share anything compelling and dynamic. as we talked to influencers, celebrities, etc., they have things they want to s

there are questions about arora. outside investors had asked to investigate and possibly dismiss him. they did not think he was qualified to take over the job. the board of directors had an independent group investigate him and clear him, but there seem to be some questions behind the scenes that have not quite been answered yet. emily: christian, as one of the earliest investors in supercell, and a board member, what do you think of tencent taking control of supercell? >> i think it's smart, to be honest. as you said, they are already very powerful in china. they don't have the same exposure internationally. mobile gaming is the largest part of the hundred billion dollar games market. right now, having tencent as a partner domestically is a big deal. similarly, tencent gets exposure abroad. they are one of the few companies in the gaming industry that can consistently create hit after hit in the mid-core gaming sector. from that perspective, it really could be a very good deal. perhaps tencent can help supercell in

film maker gabo arora has create ad project meant to make it easier for aid organizations to collect donations. >> i started experimenting with using innovative ways of advocacy. i started talking to a lot of different partners and people. what could we do that would be incredible? and someone said, you know, i just came from a meeting with samsung, you know, with some of these other virtual reality headsets. wouldn't it be amazing if you got all of those elite people who could actually go to a refugee camp? or they could go to an ebola clinic. i just really felt it would get our issues highlighted. >> for 360-degree films a number of cameras are needed that can film in all directions. their footage is assembled on a computer. an observer can then move freely in the virtual space created. aaron koblin, a media designer, explains what is needed for such an experience. >> it usually consists in the portable form of a mobile phone that connects directly into a viewer. so whether that's a higher end version like the gear v.r. by samsung or a google cardboard unit, you have basically the

regulator is looking into whether arora had comple nflicts of interest. he was cleared of wrongdoing one day before his resignation. at least three prominent hedge predictught ways to the brexit outcome. artificial intelligence was used, as well as a pre-vote p oll. there was a model developed to use algorithms to track voting districts. technologies and pulling help to generate profits or minimize losses for the firm. that is your bloomberg business flash. anna: now, let's pick up with our chart of the hour. copper has managed to erase all of its post-brexit losses. good to see you again. take us through the details. >> good morning. central-bank reassurances, driving a lot of the rally we have seen so far in the commodities complex. but pu tt oil and gold aside. copper has been the standout performer here. we put this on a gorgeous chart for you, which you can pull up easily on your bloomberg. on the green line, you can see the 200 day moving average. you can see towards the end, very recently there, breaking through that 200 day moving average. not jus

they are questioning if arora has a conflict of interest. this is really coming off the back of a widening equity market. the fuel-efficient the scandal forced mitsubishi motors to hault production. mitsubishi motors will submit new test results later today. production is expected to resume next month. the company will forecast its inrst full year loss eight years. shares in the indian division amidbeen this re suspended allegations of fraud. it was halted at the end of may. say it is a victim of fraud by the employees. and so, the profit is halted. recent economic data show china's economy is stabilizing, even amid concerns about rising debt. manys richest man owns asset in china from ports to retail. we spoke to him with his first interview in four years. he says he remains full of optimism. [speaking foreign language] reporter: but recently, you faced criticisms from some publications in mainland china, accusing you of diversifying away from china at a time of slowing growth. is this true? ka-shing speaking foreign-language] reporter: the

arora of course famously came from google with a lot of fanfare. and very interestingly last august bought $483 million of stock to show people he was in it, going to be the ceo. apparently son who turns 60 in a year or two decided that really is not a good age to retire. i haven't spoken to him in a while, hope to. perhaps he'll come back and sit down for an interview. that seems to be one of the keys as to why mr. arora's decided now is the time after only two years at the company to seek other opportunities. >> i thought it was an extraordinary story. >> by the way he sold that stock back. >> get out. >> that was my question this morning. he borrowed money to buy that, almost half a billion worth of stock last august. he sold it back at what i'm told is a minimal loss for mr. nikesh arora. >> i remember when google got hit, he's really good. he's a really smart guy. >> one of the very early guys at google. had one of the more significant jobs in opening their business around the world. >> i'd say so. >> but he runs softbank. >> are you going to

people say migration isn't good, it doesn't matter which part of the world, migration is good within the arora group. we have three businesses, hotels, property and real estate. we employ over 2,000 people. and we have all different nationalities, not just from within europe but from around the world. so i think rather that just saying, well, if we shut the borders, and it's not really clear from the leave side what are they going to do? what the policies are going to be. so i would rather be on the inside than being left out in the cold. >> when you talk about the 2,000 employees, can i ask you to give us a sense of what are british-born versus eu workers coming here to work versus outside the eu? because this is a huge part of the debate, too. even when the leave campaign focusing on immigration, they are not necessarily clear at times whether they are talking about the eu um graimmigration outside the eu and what you can stem and what you can't. >> we are very lucky as an organization that we have a great mixture from all around, we have chinese, we have european, we have asian, we have som

peter: softbank announced this morning that their president, aurora -- nikesh arora, will be stepping down. he was the air apparent at softbank. he joined from google a couple of years ago, and was promoted into the role of president and was widely received it to be the most likely successor. today there was a small briefing in tokyo, and the two executives he had decided he wanted to stay on longer in the ceo role, and for that reason, nikesh was going to give up the president role. jonathan: what do you think of the timing of that? iner: they sold their stake super cell, a very big payoff for them financially. more relevant is that the cash aurora -- nikesh arora, had come under criticism for some of his practices. question is what role did those criticisms playing his departure. peter roskam, managing editor frazier technology. let's get a look -- for asian technology. emma: police in brussels have arrested a suspect after a bomb scare at a shopping mall. a man called police to say he was walking around with an explosion belts. the bomb squad determines the device was a fake. bance

softbank president nikesh arora stepping down. he'll remain an advisor. he was hand picked as the successor to ceo masayoshi son. softbank owns sprint, a big stake in alibaba. yahoo japan and many others. they do about $80 billion in revenue. he was seen as being the successor to masayoshi son and creating or taking it into a tech-focused version of berkshire hathaway. now that he is not that man, questions over who would take over the company. nikesh came from google. when he left there were a lot of people who were both surprised by the move but also sad to see him go because he had been seen as one of the operational guys who actually turned google from a start-up, if you will, to a more operationally focused company. big questions about his future and now softbank's. >>> as we mentioned, two days to go until the u.k. votes on its future in the european union. a new poll out from u gov shows 42% want to stay. 44% would vote to go. the polls are close. another neck and neck at 44%. others showing the remain camp picking up speed. joining us is dennis ga