Economic news(2024/07/03)
Kawasaki Heavy Industries: Fictitious transactions for submarine repairs, slush funds diverted to restaurants, etc.
2024-07-03 21:32:00
Kawasaki Heavy Industries announced that it had made fictitious transactions with business partners for the repair of submarines contracted by the Japan Maritime Self-Defense Force, and had misappropriated the slush funds it had obtained for restaurants and other businesses. The slush funds amounted to over 1 billion yen, and the company has set up a special investigative committee to investigate the matter.
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New banknotes issued for the first time in 20 years Banks see many customers exchanging money
2024-07-03 18:27:00
The first new banknotes in 20 years were issued on the 3rd, and the Bank of Japan began handing them over to financial institutions. Many customers gathered at bank branches to exchange their money for the new notes.
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Spring wage negotiations: final tally averages 5.10% - highest in 33 years
2024-07-03 18:23:00
The Japan Federation of Labor Organizations has conducted a final tally of wage increases for this year's spring labor offensive, finding that the average wage increase rate for over 5,200 companies was 5.10%, the highest level exceeding 5% in 33 years since 1991.
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The yen temporarily fell to the 161.90 yen range per dollar, the weakest level in about 37 and a half years.
2024-07-03 18:15:00
On the 3rd in the Tokyo foreign exchange market, the yen weakened due to factors such as the interest rate differential between Japan and the United States, and at one point the yen fell to the 161.90 yen range per dollar, hitting its lowest level in approximately 37 and a half years since December 1986.
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Japan Fair Trade Commission: Antimonopoly Act administrative measures require third-party monitoring
2024-07-03 18:01:00
The Fair Trade Commission has announced that it has reviewed its operations in order to increase the effectiveness of administrative actions under the Antimonopoly Act, including by making it mandatory for third parties such as lawyers to monitor companies' efforts to prevent recurrence.
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Bank of Japan: January-March estimate of "supply gap" negative for 16th consecutive quarter
2024-07-03 17:40:00
The Bank of Japan announced that the estimated "output gap," the difference between demand and supply in the Japanese economy, which is an important factor in judging the momentum of price increases, was negative from January to March this year. This is the 16th consecutive quarter of negative growth.
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East Asia-based investment fund to acquire Alinamin Pharmaceuticals
2024-07-03 16:59:00
An investment fund based in East Asia has decided to acquire Alinamin Pharmaceutical, which deals in over-the-counter pharmaceuticals such as vitamins and cold medicines. The acquisition price is estimated at around 350 billion yen, and the company aims to expand its business in Asia.
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New banknotes issued for the first time in 20 years Banks see many customers exchanging money
2024-07-03 15:48:00
The first new banknotes in 20 years were issued on the 3rd, and the Bank of Japan began handing them over to financial institutions. Many customers gathered at bank branches to exchange their money for the new notes.
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Stock prices temporarily rise by more than 600 yen, with purchase orders centered on semiconductor-related stocks
2024-07-03 15:41:00
On the 3rd, buying orders spread on the Tokyo Stock Exchange, mainly for semiconductor-related stocks, and the Nikkei average temporarily rose by more than 600 yen.
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Executive Director Niinami: "Shift from deflation: Business owners need to promote renewal"
2024-07-03 15:15:00
The Japan Association of Corporate Executives' summer seminar began in Nagano Prefecture on the 3rd. Executive Director Niinami emphasized the importance of corporate executives facing tough competition and promoting metabolism as we move away from an era of deflation.
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Stock price temporarily rises by more than 600 yen
2024-07-03 14:51:00
On the 3rd, the Nikkei average rose by more than 600 yen at one point. On the 2nd, the New York market saw the Nasdaq stock index, which has many tech-related stocks, reach a new record high at the closing price, and as a result, buying orders are spreading in the Tokyo market, mainly for semiconductor-related stocks.
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Stock prices rise "Buying orders gather for semiconductor-related stocks"
2024-07-03 12:23:00
Stock prices rose on the Tokyo Stock Exchange on the 3rd.
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New banknotes issued for the first time in 20 years Banks see many customers exchanging money
2024-07-03 11:56:00
The first new banknotes in 20 years were issued on the 3rd, and the Bank of Japan has begun delivering them to financial institutions.
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New banknotes issued and handed over to financial institutions by Bank of Japan
2024-07-03 09:06:00
The first new banknotes in 20 years were issued on the 3rd, and the Bank of Japan has begun delivering them to financial institutions.
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Nasdaq Index closes above 18,000 for the first time on the New York Stock Exchange
2024-07-03 06:16:00
On the 2nd, the Nasdaq stock index, which is dominated by technology-related stocks, rose on the New York Stock Exchange, closing at over 18,000 for the first time.
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Sales of books introducing "Eiichi Shibusawa's ideas" have increased with the issuance of new banknotes.
2024-07-03 06:09:00
Following the issuance of the new banknotes, there has been a growing movement to learn about the philosophy of Eiichi Shibusawa, known as the "father of modern Japanese economy" and whose portrait is featured on the new 10,000 yen banknote, through books.
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Experts compile recommendations on "ensuring industrial competitiveness" to address issues surrounding the balance of payments
2024-07-03 05:42:00
A roundtable discussion of experts set up within the Ministry of Finance to exchange opinions on issues facing Japan's balance of payments, including the trade deficit, has compiled recommendations stating that ensuring industrial competitiveness that will lead to increased exports and shifting away from a structure dependent on fossil fuels are important.
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"Concerns over power shortages at data centers" - Companies accelerate energy conservation efforts
2024-07-03 04:24:00
The rapid spread of generative AI has led to the construction of data centers to process it, raising concerns about power shortages. In response, companies that operate data centers are accelerating their efforts to save energy and decentralize to regional cities.
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Electric car Tesla's new car sales in April to June declined year-on-year for the second consecutive quarter
2024-07-03 03:59:00
Tesla, the American electric vehicle manufacturer, saw its global new car sales in the three months to last month fall below the same period of the previous year for the second consecutive quarter. This is believed to be due to a slowdown in demand for EVs.
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First new banknotes in 20 years issued today; some financial institutions will have them available in the morning
2024-07-03 00:00:00
The first new banknotes in 20 years will be issued on the 3rd. The new banknotes will be handed over to financial institutions by the Bank of Japan from the morning of the 3rd, and some financial institutions are expected to have them in stock by the morning.
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