Economic news(2023/12/01)
Prime Minister Kishida “No new construction of coal-fired power plants without countermeasures” COP28
2023-12-01 23:16:00
Prime Minister Kishida, who is visiting the United Arab Emirates, gave a speech at the COP28 summit meeting, a United Nations conference on climate change countermeasures, and stated that the country will take measures to reduce emissions in the future in order to realize a decarbonized society. announced a policy of not constructing new coal-fired power plants that have not yet been approved.
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“NTT Act should be abolished before the regular Diet session next year” Proposal of Liberal Democratic Party Working Team
2023-12-01 21:20:00
Regarding the nature of the NTT Act, the Liberal Democratic Party's working team has compiled a proposal to the government calling for the NTT Act to be abolished at the regular Diet session the year after next, once necessary measures such as amending other laws have been taken.
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Iwatani Sangyo acquires majority of Cosmo HD shares held by Yoshiaki Murakami and becomes the largest shareholder
2023-12-01 21:13:00
Iwatani Sangyo, a major gas company, is seeking to acquire the shares held by Mr. Murakami regarding Cosmo Energy Holdings, an oil wholesaler whose major shareholders include investment companies associated with Mr. Yoshiaki Murakami of the former Murakami Fund. They announced that they had acquired the majority. Mr. Murakami's side had previously expressed an intention to purchase additional shares in Cosmo, but withdrew this intention.
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The government and ruling parties are considering “GX economic transition bonds” as part of the funding for next fiscal year’s corporate tax cut
2023-12-01 20:58:00
The government and ruling party are planning to use part of the necessary financial resources to realize a decarbonized society in connection with corporate tax reduction measures being considered in next fiscal year's tax reform to encourage domestic production of strategic goods such as electric vehicles and storage batteries. We are considering using the GX Economic Transition Bonds, which are issued to support private investment in the future.
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AI/Robots… Challenge to increase productivity towards “sustainable wage increases”
2023-12-01 20:10:00
On the 1st, the central organization of labor unions, Rengo, officially decided on next year's spring strike policy. The challenge for the Japanese economy is how to raise wages sustainably. In order to continue increasing wages, it is essential to generate profits to fund them. New movements are spreading among companies regarding how to make profits and how to increase productivity.
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What is the message that Jun Ota left behind? [Economic Column]
2023-12-01 19:58:00
Jun Ota, former president of Sumitomo Mitsui Financial Group, passed away from pancreatic cancer on November 25th. He was 65 years old. He has a large physique of over 180 cm, which he trained by playing basketball and American football during his school days, and a deep, slightly hoarse voice. Despite his impressive appearance, he was the kind of person who, through his jokes, created an atmosphere in which we felt comfortable asking questions. I am still impressed by the way he spoke so vividly about the future of banking. (Koki Nishizono, Economic Affairs Department)
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Cosmo HD stock acquired by Iwatani Sangyo from former Murakami Fund group for 105.3 billion yen
2023-12-01 19:03:00
Iwatani Sangyo, a major gas company, is seeking to acquire the shares held by Mr. Murakami regarding Cosmo Energy Holdings, an oil wholesaler whose major shareholders include investment companies associated with Mr. Yoshiaki Murakami of the former Murakami Fund. They announced that they had acquired the majority. Mr. Murakami's side had previously expressed an intention to purchase additional shares in Cosmo, but withdrew this intention.
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Yen market price decline; US long-term interest rates rise slightly, leading to yen-selling and dollar-buying movements
2023-12-01 18:36:00
In the Tokyo foreign exchange market on December 1st, the yen exchange rate fell.
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Stock prices Slight price movements, mixed buying and selling developments
2023-12-01 17:30:00
On December 1st, the Tokyo stock market and the Nikkei Stock Average had small price movements.
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Domestic companies' capital investment July-September: 3.4% increase compared to the same period last year, growth rate slowing
2023-12-01 10:52:00
According to the Corporate Business Statistics Survey released by the Ministry of Finance, capital investment by domestic companies from July to September this year increased by 3.4% from the same period last year, marking the 10th consecutive quarterly increase. However, steel and machinery manufacturers have seen a decline in capital investment in reaction to last year's large-scale investment, so the overall growth rate has slowed.
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Domestic companies' capital investment increased by 3.4% from the same period last year from July to September
2023-12-01 09:25:00
According to the Ministry of Finance's Corporate Business Statistics Survey, domestic corporate capital investment from July to September this year increased by 3.4% compared to the same period last year. Of this, the manufacturing industry increased by 5.5%, and the non-manufacturing industry increased by 2.2%. Additionally, the total ordinary profits of domestic companies from July to September this year increased by 20.1% compared to the same period last year.
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NY Dow significantly rises by over 500 dollars, new record high
2023-12-01 07:20:00
On the 30th, the New York stock market saw an increase in buying orders as concerns about prolonged inflation subsided and expectations for the future of the economy spread, and the Dow Jones Industrial Average rose significantly by more than 500 points, making this year's The highest value has been updated.
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Mitsukoshi Isetan HD to close two stores, including department store that first opened in China 30 years ago
2023-12-01 06:40:00
Isetan Mitsukoshi Holdings, a major department store, has decided to close two stores in China, including closing the department store it first opened in China 30 years ago in April next year.
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Expo advance ticket sales begin, the question is whether they can generate excitement
2023-12-01 06:39:00
Advance ticket sales began on November 30th, 500 days until the opening of the Osaka/Kansai Expo. As many issues such as an upward trend in venue construction costs have come to light, the challenge is whether we can generate excitement nationwide by disseminating information such as exhibition content.
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Food price increases from January to April next year are expected to be significantly lower than this year
2023-12-01 06:38:00
The number of foods scheduled for price increases between January and April 2024 is expected to be significantly lower than during the same period this year. Amid the prolonged depreciation of the yen and the continued rise in logistics costs, the focus will be on how each company will raise prices in the second half of 2024.
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OPEC+ fails to agree on additional production cuts; multiple member countries to voluntarily reduce production
2023-12-01 05:52:00
OPEC+, which is made up of major oil producing countries such as Saudi Arabia and Russia, held a ministerial meeting on the 30th. Unable to reach an agreement on additional production cuts, several member countries announced that they would voluntarily reduce production by a total of 2.2 million barrels per day until the end of March next year.
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Tax exemption system for foreign visitors to Japan - rampant reselling due to unauthorized use - system to be reviewed and considered
2023-12-01 05:36:00
The government and ruling party are considering reviewing the tax exemption system, as it appears that cases of illegally using the consumption tax exemption system for foreign visitors to Japan and profiting from resale are rampant. We are aiming to switch to a system where customers pay consumption tax when they purchase a product, and then receive a refund when they leave the country.
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