Economic news(2023/10/19)
Chairman of the Japanese Bankers Association apologizes for system failure, plans to investigate the issue
2023-10-19 19:50:00
Katsuhiko Kato, chairman of the Japanese Bankers Association, apologized for the delay in processing more than 5 million transactions due to a failure in the system operated by a related organization, and announced that the organization operating the system would be tasked with creating a task force. He announced his intention to establish a new system and proceed with verifying the problem.
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Prime Minister Kishida instructs Liberal Democratic Party and Komeito Party to consider time-limited income tax cut
2023-10-19 19:39:00
Regarding new economic measures, Prime Minister Kishida agreed on the 20th to instruct the Liberal Democratic Party and New Komeito to consider a time-limited income tax reduction in order to return part of the increase in tax revenue to the people. It has entered.
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Sales of anti-bear goods have increased significantly in various regions
2023-10-19 19:26:00
Due to a series of reports of damage and encounters caused by bears, anti-bear goods are selling like never before in various regions.
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Honda to launch self-driving taxi service in some parts of Tokyo in 2026
2023-10-19 19:17:00
Honda has announced plans to start a self-driving taxi service in 2026, three years from now, in collaboration with American GM (General Motors). The service will begin in some areas of Tokyo using vehicles without drivers.
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Long-term interest rates rise to 0.840%, the highest level in about 10 years
2023-10-19 19:07:00
In the bond market on the 19th, the selling of Japanese government bonds intensified, and long-term interest rates hit 0.840% in the afternoon, the highest level in about 10 years since July 2013.
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Rengo has decided to demand a 5% wage increase, including regular wage increases, for next year's spring labor union.
2023-10-19 18:58:00
In order to achieve sustainable wage increases, a coalition of labor organizations has decided to demand a wage increase of at least 5%, including regular wage increases, in next year's spring labor union. This is higher than last year's spring labor, which was at a level not seen in about 30 years, and is the second consecutive year of high demands.
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“Gold” futures price hits new high due to concerns over Israeli-Palestinian situation
2023-10-19 18:45:00
Gold futures prices traded on the Osaka Exchange have hit a new high. As the Israeli-Palestinian situation becomes increasingly tense, there is a growing movement to buy gold as a relatively safe asset.
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Japan-China Experts Forum Video messages from foreign ministers from both countries Beijing
2023-10-19 18:37:00
A forum was held in Beijing for experts from Japan and China to discuss the issues of both countries, and Foreign Minister Kamikawa emphasized the importance of continuing dialogue in a video message, while Chinese Foreign Minister Wang Yi said that TEPCO We have put a stop to Japan's actions regarding the release of treated water accumulated at the Fukushima Daiichi Nuclear Power Plant.
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“Support system for housing purchase costs: Review of subsidies for areas expected to be flooded” Fiscal Council
2023-10-19 18:28:00
The Fiscal System Council, an advisory body to the Minister of Finance, has stated that while the country is committed to building cities that are resilient to disasters, some systems that support housing purchase costs include providing assistance even in areas that are expected to be flooded due to heavy rain. We requested a reconsideration as there were certain things that we had acknowledged.
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Yen market: small price movements
2023-10-19 18:24:00
In the Tokyo foreign exchange market on the 19th, the yen exchange rate had small price movements.
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Bank of Japan raises economic outlook in 6 regions Against the backdrop of increasing inbound demand
2023-10-19 17:57:00
The Bank of Japan releases its tri-monthly "Regional Economic Report," and has raised its economic outlook in six of the country's nine regions against the backdrop of expanding inbound demand and steady capital investment by companies.
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Toyota production line halts, affecting parts manufacturers, etc.
2023-10-19 17:49:00
Due to equipment trouble at a supplier that occurred on October 16th, Toyota Motor Corporation has continued to suspend operations at some of its factories' production lines, and some auto parts manufacturers to which it supplies parts have been forced to reduce production. is expanding.
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Prime Minister Kishida instructs Liberal Democratic Party and Komeito Party to consider time-limited income tax cut
2023-10-19 17:44:00
Regarding new economic measures, Prime Minister Kishida is likely to instruct the Liberal Democratic Party and Komeito Party on the 20th to consider a time-limited income tax reduction in order to return a portion of the increase in tax revenue to the people. I've started making adjustments.
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Long-term interest rates rise to 0.840%, the highest level in about 10 years
2023-10-19 17:26:00
In the bond market on the 19th, selling of Japanese government bonds strengthened in the bond market, and long-term interest rates hit 0.840% just after 2:00 p.m., the highest level in about 10 years since July 2013.
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Nissho Chairman says next year's spring labor union's 5% wage increase demanded by the coalition will be difficult for small and medium-sized enterprises
2023-10-19 16:58:00
Regarding the policy of a federation of labor organizations to demand a wage increase of 5% or more, including regular wage increases, in next year's spring labor union, President Kobayashi of the Japan Chamber of Commerce and Industry said that while he understands the federation's goals, it is difficult for small and medium-sized enterprises to recognized that it is difficult to achieve.
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Professional Baseball Japan Series “Kansai Showdown” economic impact estimated at 144.9 billion yen
2023-10-19 16:55:00
It has been estimated that if Hanshin and Orix both advance to the final stage of professional baseball's Climax Series and end up playing against each other in the Japan Series, the economic impact will be over 140 billion yen.
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Bic Camera's base increases for 8 consecutive years to record level
2023-10-19 16:47:00
While continued wage increases and their levels will be the focus of next year's spring labor union, Bic Camera, a major consumer electronics retailer, has decided to raise wages for the eighth consecutive year to the highest level ever. The decision was made much earlier than in previous years, with the aim of responding to rising prices and securing human resources.
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Stock prices fall by more than 600 yen; concerns about the economic future due to rise in US long-term interest rates
2023-10-19 16:29:00
On the 19th, the Nikkei stock average on the Tokyo stock market fell by more than 600 yen.
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Financial Services Agency conducts training to prepare for cyber attacks with 165 financial institutions
2023-10-19 15:19:00
Amid a series of cyberattacks targeting companies and government agencies, the Financial Services Agency has been conducting training to prepare for cyberattacks with approximately 160 financial institutions since the 19th.
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What the NTT law should be NTT “appropriately abolished” 3 competitors “opposed to hindering fair competition”
2023-10-19 14:37:00
The heads of major telecommunications companies attended a meeting of the Liberal Democratic Party to consider the future of the NTT Act, and while NTT recognized that repeal of the law was appropriate from the perspective of strengthening international competitiveness, the three competing companies They opposed the abolition, citing concerns that it would impede fair competition.
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Long-term interest rates rise to 0.840%, the highest level in about 10 years
2023-10-19 14:30:00
In the bond market on the 19th, selling of Japanese government bonds strengthened in the bond market, and long-term interest rates hit 0.840% just after 2:00 p.m., the highest level in about 10 years since July 2013.
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Revision of the NTT Act “Opposes abolition” Major telecommunications companies except NTT write a request
2023-10-19 13:52:00
Concerning the debate over the review of the NTT Act, major telecommunications companies, excluding NTT, opposed the abolition of the law at a hearing held by the Liberal Democratic Party on the 19th, and jointly called for careful consideration by 180 companies and organizations, including telecommunications carriers. I have submitted a request.
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Nikkei average stock price temporarily drops by more than 600 yen Sell orders due to decline in NY market
2023-10-19 13:51:00
In the afternoon trading of the Tokyo stock market on the 19th, the Nikkei average stock price fell by more than 600 yen at one point. In the New York market on the 18th, the yield on 10-year government bonds, which is an indicator of long-term interest rates, rose to the 4.9% level for the first time since July 2007, and stock prices fell due to concerns about the future of the economy. There has been a noticeable increase in sell orders.
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Long-term interest rates rise to 0.830%, the highest level in about 10 years
2023-10-19 13:37:00
In the bond market on the 19th, the selling of Japanese government bonds intensified, and long-term interest rates reached 0.830% in the afternoon, the highest level in about 10 years since July 2013.
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Move to raise wages as early as next fiscal year Meiji Yasuda Life has a policy of raising wages by an average of 7%
2023-10-19 12:30:00
In order to achieve sustainable growth of the Japanese economy, the focus is on whether wages can continue to be raised at a high level in next year's spring labor union, and there are already moves to raise wages for next year. Meiji Yasuda Life Insurance Co., a major life insurance company, has decided to raise employee wages by an average of 7% based on annual income from April next year.
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Revision of the NTT Act “Opposes abolition” Major telecommunications companies except NTT write a request
2023-10-19 11:41:00
Concerning the debate over the review of the NTT Act, major telecommunications companies, excluding NTT, opposed the abolition of the law at a hearing held by the Liberal Democratic Party on the 19th, and jointly called for careful consideration by 180 companies and organizations, including telecommunications carriers. I have submitted a request.
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Trade balance deficit in the first half decreased significantly to 2,718.4 billion yen deficit
2023-10-19 11:31:00
According to the trade statistics released by the Ministry of Finance for the first half of this fiscal year from April to September, the trade balance (exports minus imports) was in the red at 2,718.4 billion yen. The deficit has been significantly reduced compared to last year, when the deficit exceeded 10 trillion yen, the largest ever for the first half of the fiscal year.
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Honda to launch self-driving taxi service in some parts of Tokyo in 2026
2023-10-19 11:21:00
Honda has announced plans to start a self-driving taxi service in 2026, three years from now, in collaboration with American GM (General Motors). The service will begin in some areas of Tokyo using vehicles without drivers.
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Tesla's sales increased, but profit decreased significantly due to lower profit margins due to price cuts
2023-10-19 11:06:00
American electric car manufacturer Tesla's financial results for the three months ending in September showed an increase in sales due to an increase in new car sales, but a significant 44% decline in profit due to lower profit margins due to price cuts.
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Long-term interest rates rise to 0.825%, the highest level in about 10 years
2023-10-19 11:05:00
In the bond market on the 19th, selling of Japanese government bonds intensified, and long-term interest rates rose to 0.825% just after 10 a.m., the lowest level in about 10 years since August 2013. On the 18th, in the US market, the yield on 10-year government bonds, an indicator of long-term interest rates, rose to the 4.9% level for the first time in approximately 16 years and three months since July 2007, due to expectations that monetary tightening will be prolonged. As a result, upward pressure on long-term interest rates is increasing in Japan as well.
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Netflix Increases Revenue and Profits, Increases Number of Members by 8.76 Million in 3 Months
2023-10-19 10:46:00
American video distribution giant Netflix's financial results for the three months ending in September showed that the number of members worldwide increased by more than 8.7 million, and sales and profits increased for the second consecutive year.
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Next year's staple rice production is expected to increase from this year's production estimate
2023-10-19 10:35:00
The Ministry of Agriculture, Forestry and Fisheries has compiled a forecast that next year's production of rice, a staple food, will be 6.69 million tons, which is 70,000 tons more than this year's current production estimate.
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Long-term interest rates rise to 0.820%, the highest level in about 10 years
2023-10-19 09:51:00
In the bond market on the 19th, selling of Japanese government bonds intensified, and long-term interest rates rose to 0.820% just after 9 a.m., the highest level in about 10 years since August 2013. On the 18th, in the US market, the yield on 10-year government bonds, an indicator of long-term interest rates, rose to the 4.9% level for the first time in approximately 16 years and three months since July 2007, due to expectations that monetary tightening will be prolonged. As a result, upward pressure on long-term interest rates is increasing in Japan as well.
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Biguiyuan, China's largest real estate company, may default on debt due to financial difficulties
2023-10-19 09:48:00
Concerning Biguiyuan, China's largest real estate company, which is in financial trouble, foreign media reported that the final deadline for interest payments on some foreign currency-denominated bonds has been reached, but the payment has not been confirmed. Ta. Default = You may be considered to have defaulted on your obligations.
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Nikkei average stock price temporarily drops by more than 500 yen NY market sell order due to decline
2023-10-19 09:26:00
On the 19th, the Tokyo stock market, the Nikkei Stock Average, temporarily fell by more than 500 yen. In the New York market on the 18th, the yield on 10-year government bonds, which is an indicator of long-term interest rates, rose to the 4.9% level for the first time since July 2007, and stock prices fell due to concerns about the future of the economy. There has been a noticeable increase in sell orders.
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Trade balance deficit in the first half decreased significantly to 2,718.4 billion yen deficit
2023-10-19 09:02:00
According to the trade statistics for the first half of this fiscal year, from April to September, announced by the Ministry of Finance, the trade balance (exports minus imports) was in the red at 2,718.4 billion yen. The first half of last year had a deficit of over 10.9 trillion yen, the largest deficit ever for the first half of a fiscal year, but compared to this, the deficit has shrunk significantly.
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Tesla sales increase, profit decreases, sales of 3.47 trillion yen due to cost increase
2023-10-19 07:27:00
American electric car manufacturer Tesla announced on the 18th its financial results for the three months ending in September, showing an increase in revenue and a decrease in profit.
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Netflix Increases Revenue and Profits, Increases Number of Members by 8.76 Million in 3 Months
2023-10-19 07:11:00
Netflix, the American video distribution giant, announced its financial results for the three months ending in September on the 18th, showing an increase in the number of members worldwide by more than 8.7 million, and an increase in both revenue and profit.
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Mitsubishi Motors decides to withdraw from Chinese market as Japanese manufacturers struggle
2023-10-19 00:29:00
It has been learned that Mitsubishi Motors Corporation will soon decide to withdraw from the Chinese market. In China, the world's largest automobile market, the shift to EVs (EVs) is progressing rapidly, and struggling Japanese manufacturers are being forced to reconsider their strategies.
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