Economic news(2024/06/14)
"People in white coats are models, not doctors": NHK conducts independent investigation into health foods
2024-06-14 22:00:00
Following the issue of people who took Kobayashi Pharmaceutical supplements developing kidney disease and other conditions, interest in the safety of health foods is now growing. However, some people are also questioning the health foods themselves, asking, "Just how beneficial are supplements and health foods to your health in the first place?" In response, we conducted our own investigation and found a series of questions about health foods, including inappropriate advertising and the reliability of research papers that serve as the basis for the active ingredients... How should we deal with supplements and health foods? (Science and Culture Department Reporters Shimada Naoaki, Ueda Yu, Kinukawa Chiharu)
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Keisei Electric Railway vs. Activist Shareholders: What Will They Decide? [Economics Column]
2024-06-14 19:04:00
Will the presence of "activists" who actively demand reforms from management change Japanese companies? With the general shareholders' meeting climaxing in two weeks, a battle continues between British investment fund Palliser Capital and major private railway company Keisei Electric Railway. The investment fund is urging Keisei Electric Railway to sell part of its shares in the Tokyo Disney Resort operating company, but Keisei has indicated it is opposed. Why on earth is it necessary to sell the shares? We spoke directly to the investment fund's chief investment officer, who visited Japan ahead of the general shareholders' meeting. (Economics reporters Tsuboi Hiroaki and Yokoyama Taichi)
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The average rice price in May was just over 15,500 yen per 60 kg, up 12% from the same period last year.
2024-06-14 18:58:00
Amid concerns about rising rice prices, the prices of last year's rice sold to wholesalers by the JA Group and other groups were announced in May. The average price for all varieties was just over 15,500 yen per 60 kg, 12% higher than the same period last year.
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Toyota halts production of three models with certification fraud after July; resumption date undecided
2024-06-14 18:36:00
Toyota Motor Corporation has decided to suspend production of three models that were found to have engaged in fraudulent testing in national certification tests, which was scheduled to end on June 28, beyond July. The timing of resuming production has not yet been decided.
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Yen weakens to 158 yen to the dollar following Bank of Japan meeting
2024-06-14 18:26:00
On the 14th, in the Tokyo foreign exchange market, the yen temporarily weakened to the 158 yen to the dollar range following the results of the Bank of Japan's monetary policy meeting.
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China's May new car sales up 33% for EVs and other vehicles, but impact of tariffs in focus
2024-06-14 18:26:00
China's new car sales figures for May were announced, with sales of "new energy vehicles" such as EVs increasing by more than 33% compared to the same month last year, boosting overall sales. However, tariff hikes have been announced in Europe and the US regarding Chinese-made EVs, and the focus is on how this will affect sales going forward.
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[Details] Bank of Japan Governor's press conference: Reduction in government bond purchases will be foreseeable
2024-06-14 18:22:00
The Bank of Japan decided to reduce the scale of its government bond purchases at the Monetary Policy Meeting held until the 14th. At a press conference after the meeting, Governor Ueda expressed his intention to carefully reduce the amount of government bond purchases in a predictable manner.
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KADOKAWA Niconico Video and other web services "expected to be restored in more than a month"
2024-06-14 18:19:00
In response to a cyber attack that has shut down several of its group's web services, including the video streaming service Niconico Video, major publishing company Kadokawa has revealed that the attack has also affected the group's entire business, including publishing and payment systems, and that it will likely take at least a month for services to be fully restored.
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[Details] Bank of Japan Governor's press conference: Reduction in government bond purchases will be foreseeable
2024-06-14 17:54:00
The Bank of Japan decided to reduce the scale of its government bond purchases at the Monetary Policy Meeting held until the 14th. At a press conference after the meeting, Governor Ueda expressed his intention to carefully reduce the amount of government bond purchases in a predictable manner.
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Kirin Holdings announces takeover bid for Fancl, aiming to make it a wholly owned subsidiary
2024-06-14 17:45:00
Kirin Holdings, a major beverage manufacturer, has announced that it will make a tender offer for Fancl, a company that deals in health foods and cosmetics, aiming to make it a wholly owned subsidiary. With the market for its mainstay beer products sluggish, the company aims to strengthen its health-related business.
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Toyota to halt production of three models with certification fraud from next month onwards
2024-06-14 16:59:00
Toyota Motor Corporation has decided to continue suspending production of three models that were found to have engaged in fraudulent testing in national certification tests, which was scheduled to end on the 28th of this month, beyond next month. It has not yet been decided when production will resume.
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[Details] Bank of Japan Governor's press conference: Reduction in government bond purchases will be foreseeable
2024-06-14 16:57:00
The Bank of Japan decided to reduce the scale of its government bond purchases at the Monetary Policy Meeting held until the 14th. At a press conference after the meeting, Governor Ueda expressed his intention to carefully reduce the amount of government bond purchases in a predictable manner.
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[Live report] Bank of Japan Governor Ueda holds press conference to decide on reduction of government bond purchases
2024-06-14 16:16:00
Will monetary policy normalization be furthered? At this much-anticipated monetary policy meeting, the Bank of Japan decided to reduce the scale of its purchases of government bonds. It is said that a specific reduction plan for the next one to two years will be decided at the July meeting. Bank of Japan Governor Ueda will hold a press conference at 3:30 pm to explain the details of this decision. We will provide a quick update on Governor Ueda's remarks at the press conference on this timeline.
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Stock price increase
2024-06-14 15:40:00
On the 14th, stock prices rose on the Tokyo Stock Exchange.
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Toyota recalls over 230,000 vehicles including Noah and Voxy
2024-06-14 15:33:00
Toyota Motor Corporation has filed a recall with the Ministry of Land, Infrastructure, Transport and Tourism for over 230,000 vehicles across 25 models, including the Noah, citing insufficient waterproofing of the cameras installed on the front and rear of the vehicle, which could cause them to lose their pictures due to rainwater or other factors.
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The yen temporarily weakened to the 158 yen range per dollar
2024-06-14 15:30:00
On the 14th, in the Tokyo foreign exchange market, the yen temporarily weakened to the 158 yen to the dollar range after the results of the Bank of Japan's monetary policy meeting were announced.
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[Live Schedule: 15:30~] Bank of Japan Governor's Press Conference Decides to Reduce Government Bond Purchases
2024-06-14 15:05:00
Will monetary policy normalization be furthered? At this much-anticipated monetary policy meeting, the Bank of Japan decided to reduce the scale of its purchases of government bonds. It is said that a specific reduction plan for the next one to two years will be decided at the July meeting. Bank of Japan Governor Ueda will hold a press conference at 3:30 pm to explain the details of this decision. We will provide a quick update on Governor Ueda's remarks at the press conference on this timeline.
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METI Minister Saito meets with Chilean ministers to confirm strengthening cooperation in lithium development
2024-06-14 14:49:00
Minister of Economy, Trade and Industry Saito met with a minister from Chile, a South American country that is one of the world's leading producers of lithium, which is used in batteries for electric vehicles (EVs), and confirmed that the two countries will strengthen their cooperative relationship in areas such as stable supply and environmentally friendly development.
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Long-term interest rates temporarily fall to 0.915% following the Bank of Japan's monetary policy meeting
2024-06-14 14:16:00
In the bond market on the 14th, the results of the Bank of Japan's monetary policy meeting led to increased buying of government bonds, and the yield on 10-year government bonds, which is a representative indicator of long-term interest rates, temporarily fell to 0.915%. When government bonds rise in price, interest rates fall.
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Bank of Japan decides to reduce government bond purchases, further normalizing monetary policy
2024-06-14 14:10:00
The Bank of Japan decided to reduce the scale of its government bond purchases at the Monetary Policy Meeting held until the 14th. It is said that it will decide on a specific reduction plan for the next one to two years at its meeting in July, further advancing the normalization of monetary policy.
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Yen exchange rate to the high 157 yen range against the dollar following Bank of Japan decision
2024-06-14 13:27:00
On the 14th, in the Tokyo foreign exchange market, the yen weakened to the high 157 yen range against the dollar after the results of the Bank of Japan's monetary policy meeting were announced.
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Yen exchange rate falls to the upper 157 yen range against the dollar as the Bank of Japan decides to reduce its government bond purchases
2024-06-14 13:13:00
The Bank of Japan decided to reduce the scale of its purchases of government bonds at its monetary policy meeting held until the 14th. On the Tokyo foreign exchange market on the 14th, the yen was trading at the lower 157 yen range against the dollar before the Bank of Japan's announcement, but after the details of the decision were announced, the yen weakened to the upper 157 yen range against the dollar.
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Bank of Japan decides to reduce government bond purchases, further normalizing monetary policy
2024-06-14 13:10:00
The Bank of Japan decided to reduce the scale of its government bond purchases at the Monetary Policy Meeting held until the 14th. It is said that it will decide on a specific reduction plan for the next one to two years at its meeting in July, further advancing the normalization of monetary policy.
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Finance Minister Suzuki: "No retreat from stance on fiscal consolidation" in draft of basic policy
2024-06-14 12:58:00
Regarding the fact that the original draft of the Basic Policy did not explicitly state that the primary balance would remain in the black for the six years leading up to fiscal 2030, Finance Minister Suzuki said, "Our stance toward fiscal consolidation has not retreated in the slightest," indicating his belief that this will not lead to a relaxation of fiscal discipline.
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Bank of Japan Monetary Policy Meeting: Second day, decision to be announced soon
2024-06-14 12:08:00
The Bank of Japan is holding its second day of monetary policy meetings on the 14th and will soon announce the details of its decision. After discussing reducing the amount of large-scale purchases of government bonds that have continued since the policy shift in March this year, the focus is on how far the bank will go in normalizing monetary policy.
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Stock price: Small price movements
2024-06-14 12:05:00
On the 14th, stock prices on the Tokyo Stock Exchange showed little fluctuation.
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Kirin Holdings to make TOB for Fancl, aiming to make it a wholly owned subsidiary
2024-06-14 11:34:00
Kirin Holdings, a major beverage manufacturer, has decided to make a takeover bid for Fancl, a health food company, aiming to make it a wholly owned subsidiary. This appears to be an attempt to strengthen the health-related business amid sluggish growth in the market for its mainstay beer products.
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Tesla shareholders approve huge compensation for CEO Musk, approx. 8.8 trillion yen
2024-06-14 10:39:00
Tesla, an American electric car manufacturer, held a shareholders' meeting and approved a compensation of approximately 8.8 trillion yen for CEO Elon Musk. The results of the shareholders' vote were closely watched, as a US court had ruled this huge compensation invalid in January.
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Ministry of Agriculture, Forestry and Fisheries expert panel recommends preventing domestic seeds and seedlings from being leaked overseas online
2024-06-14 07:33:00
It has been learned that, citing an increasing risk of domestically developed brand-name seeds and seedlings being sold overseas through online transactions, an expert panel of the Ministry of Agriculture, Forestry and Fisheries has compiled recommendations calling for the consideration of new measures, such as making it mandatory to display information about sellers when making transactions.
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Bank of Japan Monetary Policy Meeting: Second day discusses reducing government bond purchases
2024-06-14 07:32:00
The Bank of Japan will hold its second day of monetary policy meetings on the 14th, and will hold specific discussions on reducing the amount of government bond purchases that have continued since the policy change in March this year. The focus is on whether the Bank of Japan will show a more proactive stance toward normalizing monetary policy.
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New York Stock Market hits new record high for fourth consecutive day Nasdaq Stock Index rises
2024-06-14 06:21:00
On the 13th, the Nasdaq stock index, which is dominated by technology-related stocks, rose on the New York Stock Exchange, closing at 17,667.56, setting a new record high for the fourth consecutive day.
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