Economic news(2024/05/10)
Hokkaido Shinkansen Sapporo extension “opening date postponed?” Expert meeting discusses
2024-05-10 21:37:00
In light of the fact that the Japan Railway and Transport Agency, which is the main body behind the construction of the Hokkaido Shinkansen Sapporo extension, has predicted that it will be extremely difficult to open the Hokkaido Shinkansen by the end of 2030, the government is holding discussions with experts to determine whether to postpone the opening date. started.
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SBI Shinsei Bank Last fiscal year final profit was over 57 billion yen, an increase of over 30% from the previous year
2024-05-10 20:34:00
SBI Shinsei Bank's final financial results for last fiscal year were over 57 billion yen, an increase of more than 30% from the previous year, due to improvements in management efficiency and other factors. Our policy is to continue working to strengthen our earning power in order to repay public funds, which is a management issue.
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Earnings announcements peak on TSE; companies stand out as companies improve their performance against the backdrop of weak yen and other factors
2024-05-10 19:51:00
On the 10th, the Tokyo Stock Exchange reached its peak in announcements of financial results for the past fiscal year by listed companies. Companies that have increased their final profits compared to the previous fiscal year are notable due to the weaker yen and the passing on of changes to product prices.
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Prime Minister Kishida: Impact of weak yen on prices and consumption: “Government and Bank of Japan will work together to respond”
2024-05-10 19:26:00
The government's Economic and Fiscal Policy Council was held to discuss the impact of the weak yen on consumption through prices. Prime Minister Kishida stated that the government and the Bank of Japan will continue to work closely together to respond.
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Earnings announcements peak on TSE; companies stand out as companies improve their performance against the backdrop of weak yen and other factors
2024-05-10 19:07:00
On the 10th, the Tokyo Stock Exchange reached its peak in announcements of financial results for the past fiscal year by listed companies. Companies that have increased their final profits compared to the previous fiscal year are notable due to the weaker yen and the passing on of changes to product prices.
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Yen market price has increased somewhat from 1 dollar = 155 yen to 70 sen (5 p.m.)
2024-05-10 19:02:00
In the Tokyo foreign exchange market on the 10th, the yen exchange rate rose somewhat.
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Biden administration “plans to impose new tariffs on Chinese-made EVs, etc.” US media
2024-05-10 19:02:00
American media reported that the Biden administration plans to impose new tariffs on Chinese-made EVs. The move appears to be aimed at promoting the country's stance of protecting domestic industry and employment ahead of the presidential election in the fall.
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Automobile companies' financial results for last fiscal year: Earnings increase due to strong sales and weak yen
2024-05-10 19:00:00
The group-wide financial results for each automaker for the past fiscal year show that Honda's operating profit was a record high of over 1.38 trillion yen, and business performance has improved on the back of strong sales and a weak yen.
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This year's saury catch limit is 110,000 tons, down 6% from last year, Ministry of Agriculture, Forestry and Fisheries
2024-05-10 18:08:00
Regarding the severely poor catch of saury, a council of the Ministry of Agriculture, Forestry and Fisheries has approved a proposal to set the upper limit on this year's catch to just over 110,000 tons, 6% less than last year. This is the lowest amount since the upper limit was set.
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NTT Docomo appoints new president and vice president Yoshiteru Maeda, also establishes new company to strengthen business
2024-05-10 18:04:00
NTT Docomo has officially announced the promotion of Vice President Yoshiteru Maeda, formerly of Recruit, as the company's first president from outside the company. Additionally, we plan to establish a new company to oversee our overseas operations and strengthen our operations.
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Kobayashi Pharmaceutical withdraws annual performance forecast due to red yeast rice issue, leaving it as ``undecided''
2024-05-10 17:54:00
Kobayashi Pharmaceutical Co., Ltd. has announced that it will be suspending its sales for the year ending December 31, 2020, as it has become difficult to assess the impact on business results regarding the issue of kidney disease among people who took supplements containing the ingredient "red yeast rice." The company announced that it would withdraw its earnings forecast and make it "undetermined."
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Currency depreciation is not only in Japan! [Economy column from Asia]
2024-05-10 17:16:00
In the foreign exchange market, the yen is currently at a record low level, reaching the 160 yen level to the dollar. Finance Minister Kanda of the Ministry of Finance, who is in charge of monetary policy, hinted at further market intervention, saying, ``We are ready to do it at any time, and to put it in extreme terms, we might do it today or tomorrow.'' (May 9) , keeping market movements in check. Japan is not the only country affected by this currency depreciation. In a situation where the dollar can be said to be the dominant currency, Asian countries that once experienced a currency crisis are also starting to defend their currencies. Let's explore what lies beyond the currency devaluation. (Asia Bureau Reporter Neil Kato)
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SEGA SAMMY HD Miyazaki “Seagaia” decided to be sold to a US investment fund
2024-05-10 16:27:00
SEGA SAMMY Holdings, which operates game businesses and resort operations, has announced that it has decided to sell its stake in the company that operates Phoenix Seagaia Resort, a large resort facility in Miyazaki City, to an American investment fund.
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Minister of Internal Affairs and Communications continues to request LINE Yahoo to review capital relationship due to information leak
2024-05-10 16:22:00
In response to the LINE information leak issue, the Ministry of Internal Affairs and Communications is requesting the operating company LINE Yahoo to review its capital relationship with a Korean company that caused the issue, and Minister of Internal Affairs and Communications Matsumoto said that a fundamental review of corporate governance is necessary. He expressed his intention to continue requesting a response.
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“National debt” exceeds 1,297 trillion yen, reaching record high for 8 consecutive years; fiscal conditions are severe
2024-05-10 15:55:00
The government's debt, which includes national bonds and borrowings, so-called "national debt," reached a record high of over 1,297 trillion yen as of the end of March this year, making the financial situation even more difficult.
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Stock price rose by more than 600 yen at one point
2024-05-10 15:51:00
On the 10th, the Tokyo stock market and Nikkei Stock Average rose by more than 600 yen at one point in the morning, but the rate of increase has since narrowed.
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Biden administration “plans to impose new tariffs on Chinese-made EVs, etc.” US media
2024-05-10 15:46:00
American media reported that the Biden administration plans to impose new tariffs on Chinese-made EVs. The move appears to be aimed at promoting the country's stance of protecting domestic industry and employment ahead of the presidential election in the fall.
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April Economy Watcher Survey: Lower than previous month for 2nd consecutive month due to continued weak yen
2024-05-10 15:16:00
Last month's Economy Watcher survey, which asked working people how they felt about the economy, found that as the yen continues to depreciate, there were concerns that rising prices would push down consumption and companies would be burdened by high raw material costs, and the index showing the current state of the economy has been revised down. It was lower than the previous month for two consecutive months.
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SEGA SAMMY HD Miyazaki “Seagaia” decided to be sold to a US investment fund
2024-05-10 14:16:00
SEGA SAMMY Holdings, which operates game businesses and resort operations, has announced that it has decided to sell its stake in the company that operates Phoenix Seagaia Resort, a large resort facility in Miyazaki City, to an American investment fund.
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Keizai Doyukai “Increasing distrust in politics” Recommends visualization of political funds
2024-05-10 14:01:00
The Japan Association of Corporate Executives has compiled a set of recommendations that include making the expenditure of political funds more visible, citing a growing sense of distrust in politics due to the Liberal Democratic Party's politics and money issues.
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Japanese version of ride sharing Ministry of Land, Infrastructure, Transport and Tourism “More than 2,200 vehicles in operation in 5 regions”
2024-05-10 13:59:00
The Ministry of Land, Infrastructure, Transport and Tourism has announced that as of May 5th, a total of over 2,200 ride-sharing vehicles were in operation in five regions regarding the so-called "Japanese version of ride sharing", which began service in April.
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“Security Clearance” Law passed in plenary session of the House of Councilors.
2024-05-10 13:45:00
A law aimed at creating a "security clearance" system that limits access to information important to economic security to those whose reliability has been verified by the government was passed and enacted at a plenary session of the House of Councilors on the 10th.
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Apple apologizes for video ad showing destruction of musical instruments and sculptures, criticized on social media
2024-05-10 13:21:00
American IT giant Apple has apologized after receiving criticism on social media for a video ad announcing the latest model of its tablet device in which musical instruments and sculptures were crushed by a press machine, American media reported. Ta.
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A revised law on online defamation was passed by the plenary session of the House of Councilors.
2024-05-10 12:50:00
On the 10th, a revised law was passed and enacted at a plenary session of the House of Councilors that requires operators of SNS, etc., to promptly respond to those who have been harmed by posting defamatory comments on the Internet.
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Minister of Internal Affairs and Communications continues to request LINE Yahoo to review capital relationship due to information leak
2024-05-10 12:47:00
In response to the LINE information leak issue, the Ministry of Internal Affairs and Communications is requesting the operating company LINE Yahoo to review its capital relationship with a Korean company that caused the issue, and Minister of Internal Affairs and Communications Matsumoto said that a fundamental review of corporate governance is necessary. He expressed his intention to continue requesting a response.
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Hokkaido Shinkansen Sapporo extension: Minister of Land, Infrastructure, Transport and Tourism “Early forecast of opening target”
2024-05-10 12:26:00
Regarding the Sapporo extension of the Hokkaido Shinkansen, Minister of Land, Infrastructure, Transport and Tourism Saito held a meeting of experts to scrutinize the report to the Ministry of Land, Infrastructure, Transport and Tourism that the Japan Railway, Transport and Tourism Agency, which is the main body responsible for the construction, has predicted that it will be extremely difficult to open the Hokkaido Shinkansen line by the end of 2030. We have made it clear that we would like to move forward with this and provide future prospects regarding our opening goals as soon as possible.
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Last fiscal year's current account surplus was 25,339 billion yen, the largest surplus ever
2024-05-10 11:31:00
Last fiscal year's current account balance, which shows how much money Japan earned from overseas trade and investment, had a surplus of over 25 trillion yen, the largest surplus ever, due to growth in automobile exports.
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March Household Survey Real consumption of households with two or more people decreased by 1.2% compared to the same month last year
2024-05-10 11:05:00
According to the March household budget survey released by the Ministry of Internal Affairs and Communications, the amount spent on consumption by households of two or more people decreased by 1.2% in real terms, excluding price changes, compared to the same month of the previous year. This is the 13th consecutive month in which spending on consumption has been lower than the same month in the previous year.
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Stock price temporarily rose by more than 600 yen due to rise in major stock indexes in the NY market
2024-05-10 09:37:00
On the 10th, the Tokyo stock market and Nikkei average stock price rose by more than 600 yen. In the New York market on the 9th, buy orders increased and all major stock indexes rose as speculation spread that it would not be too late for the Federal Reserve Board to start cutting interest rates. In response to this trend, buy orders have been placed in advance in the Tokyo market immediately after trading began.
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March Household Survey Real consumption of households with two or more people decreased by 1.2% compared to the same month last year
2024-05-10 08:47:00
According to the March household budget survey released by the Ministry of Internal Affairs and Communications, the amount spent on consumption by households of two or more people decreased by 1.2% in real terms, excluding price changes, compared to the same month of the previous year. This is the 13th consecutive month of decline, and the amount spent per household was 318,713 yen.
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JR East launches new online banking service
2024-05-10 07:50:00
On the 9th, JR East launched a new online banking service. Depending on usage, customers can receive discounts on railway fares and receive points, and the company aims to retain customers through the so-called ``point economic zone.''
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Daikin Industries Ltd. Noriyuki Inoue steps down as chairman after leading management for approximately 30 years
2024-05-10 07:17:00
Daikin Industries, a major air conditioner manufacturer, has announced that Noriyuki Inoue, who has led the company's management for approximately 30 years, will step down as chairman and Naofumi Takenaka, Managing Director, will become the company's new president.
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Ajinomoto last year's financial results: Sales and profits at record high Overseas sales are strong
2024-05-10 07:15:00
Major food manufacturer Ajinomoto Co., Ltd.'s financial results for the past fiscal year showed that sales of seasonings and other items overseas were strong despite the weakening yen, and both sales and profits, which represent profits from the company's main business, reached record highs.
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NY Dow Jones Industrial Average rises for 7 consecutive business days
2024-05-10 07:12:00
On the 9th, the New York stock market saw an increase in buying orders as speculation spread that the Federal Reserve would start cutting interest rates sooner rather than later, and the Dow Jones Industrial Average rose for the seventh consecutive day. Ta.
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