Economic news(2024/07/10)
Financial Services Agency announces establishment of specialized team for business restructuring at Kirayaka Bank
2024-07-10 21:26:00
The Financial Services Agency has announced that it will set up a specialist team to provide advice on restructuring for Yamagata-based Kirayaka Bank, which is having difficulty repaying public funds.
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Pacific bluefin tuna international conference opens: Can an agreement be reached on increasing fishing quotas?
2024-07-10 18:38:00
An international conference to discuss resource management for Pacific bluefin tuna has begun in Kushiro, Hokkaido. As resource volumes are showing signs of recovery, Japan has proposed more than doubling the current catch quota for large tuna. However, there are differences of opinion among the participating countries and regions, and the focus is on whether an agreement can be reached on an increase in the quota.
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Yen exchange rate falls
2024-07-10 18:10:00
The yen fell in value on the Tokyo foreign exchange market on the 10th.
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China's June new car sales down 2.7% from the same month last year, the first decrease in four months
2024-07-10 17:42:00
China's new car sales in June were down 2.7% compared to the same month last year, the first decrease in four months. With regard to Chinese-made electric vehicles (EVs), the focus is on how this will affect sales in the future, as tariff increases have been announced in Europe and the United States.
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Tokyo Stock Exchange Prime Market Capitalization Exceeds 1000 Trillion Yen for the First Time
2024-07-10 17:26:00
On the Tokyo Stock Exchange on the 10th, the Nikkei Stock Average closed at over 41,800 yen, setting a new all-time high, and the market capitalization of the Tokyo Stock Exchange's top Prime Market exceeded 1000 trillion yen for the first time.
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Pacific bluefin tuna international conference opens: Can an agreement be reached on increasing fishing quotas?
2024-07-10 16:55:00
An international conference to discuss resource management for Pacific bluefin tuna has begun in Kushiro, Hokkaido. As resource volumes are showing signs of recovery, Japan has proposed more than doubling the current catch quota for large tuna. However, there are differences of opinion among the participating countries and regions, and the focus is on whether an agreement can be reached on an increase in the quota.
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Tokyo Stock Exchange Prime Market Capitalization Exceeds 1000 Trillion Yen for the First Time
2024-07-10 16:33:00
On the Tokyo Stock Exchange on the 10th, the Nikkei Stock Average closed at over 41,800 yen, setting a new all-time high, and the market capitalization of the Tokyo Stock Exchange's top Prime Market exceeded 1000 trillion yen for the first time. The Tokyo Stock Exchange reorganized its markets in April of last year, but this is the first time that the market capitalization of the top market, including the former First Section of the Tokyo Stock Exchange, has exceeded 1000 trillion yen.
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Nikkei Stock Average closes at over 41,800 yen, hitting a new all-time high for the second consecutive day
2024-07-10 16:08:00
On the Tokyo Stock Exchange on the 10th, the Nikkei Stock Average rose by more than 200 yen to close at over 41,800 yen, setting a new all-time high for the second consecutive day.
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Sagawa Express to fully implement "leave at door" service from September to reduce redelivery
2024-07-10 15:32:00
In order to reduce redelivery, which is a burden on drivers, major delivery company Sagawa Express will fully implement a "drop-off delivery" service from September this year, where parcels are delivered to the front door without being handed over. The other two major companies have already started the "drop-off delivery" service, and with the driver shortage becoming an issue, there is a growing movement to reconsider their services.
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Share price temporarily reaches 41,800 yen, a new intraday high
2024-07-10 15:03:00
On the 10th, the Nikkei Stock Average on the Tokyo Stock Exchange rose by more than 300 yen to the 41,800 yen range, hitting a new intraday high following the 9th. The rise in long-term interest rates has led to buy orders for financial and insurance-related stocks, and continued expectations for corporate earnings are also pushing up stock prices.
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Japan-Arab Economic Forum begins, first time held in Japan in 11 years
2024-07-10 12:16:00
An international conference to discuss strengthening economic relations between Japan and Arab countries and regions began in Tokyo on the 10th, and Minister of Economy, Trade and Industry Saito expressed his intention to promote cooperation in a wide range of areas, including climate change issues and energy security.
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Stock price: Small price movements
2024-07-10 12:01:00
On the 10th, stock prices on the Tokyo Stock Exchange showed little fluctuation.
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Corporate Price Index in June increased 2.9% year-on-year, with the rate of increase expanding from the previous month
2024-07-10 11:16:00
The Corporate Price Index, which shows the prices of goods traded between companies, rose 2.9% last month compared to the same month last year, a rise that accelerated due to a reduction in government subsidies for electricity and gas bills.
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Hitachi Zosen's Hiroshima subsidiary undergoes on-site investigation over data falsification
2024-07-10 10:47:00
In connection with the issue of two subsidiaries of Hitachi Zosen, a major machinery manufacturer, falsifying fuel efficiency data for marine engines before shipping them, the Ministry of Land, Infrastructure, Transport and Tourism began on-site investigations at one of the two companies, located in Hiroshima Prefecture, on the morning of the 10th.
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Corporate Price Index in June increased 2.9% year-on-year, with the rate of increase expanding from the previous month
2024-07-10 10:01:00
The Corporate Price Index, which shows the prices of goods traded between companies, rose 2.9% in June compared to the same month last year, up from 2.6% in May.
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NY Stock Market Nasdaq and S&P 500 stock indexes hit new record highs
2024-07-10 06:38:00
On the 9th, the New York Stock Exchange saw a slight increase in both the Nasdaq stock index, which is dominated by tech-related stocks, and the S&P 500 stock index, which is calculated based on the stock prices of 500 major companies, each hitting a new record high. Both the Nasdaq stock index and the S&P 500 stock index have risen for six consecutive trading days.
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As aviation fuel shortages continue, information on increased flights will be shared with oil refiners to support flight operations
2024-07-10 05:36:00
As more and more international flights to Japan are being postponed due to a shortage of aviation fuel, the Ministry of Land, Infrastructure, Transport and Tourism plans to introduce a system whereby airport operators will collect information on increased flights and notify oil refiners early on. The aim is to give oil refiners enough time to prepare fuel, leading to an increase in the number of international flights.
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International Conference on Bluefin Tuna Resource Management: Can an Agreement be Reached on Increasing Fishing Quota?
2024-07-10 05:21:00
An international conference to discuss resource management for Pacific bluefin tuna will be held in Kushiro, Hokkaido from the 10th. As resource volumes are showing signs of recovery, Japan has proposed more than doubling the current catch quota for large tuna. However, there are differences of opinion among the participating countries and regions, and the focus is on whether an agreement can be reached on an increase in the quota.
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US Fed Chairman expresses concern over negative impact on economy from delay in interest rate cut
2024-07-10 02:26:00
Federal Reserve Chairman Jerome Powell testified before the Senate and said that "recent price indicators show gradual progress toward lowering the inflation rate," and that if the indicators showing a decline in the inflation rate continue in the future, interest rates could be lowered. He also expressed concern about the negative impact that lowering interest rates too late could have on the economy.
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Kirayaka Bank, which posted a large deficit last year, to replace president
2024-07-10 00:17:00
The Miyagi and Yamagata-based financial group Jimoto Holdings, which is undergoing restructuring under the effective control of the government, has announced that it will replace the president of its subsidiary Kirayaka Bank, which suffered a major deficit last year. A 52-year-old director will be promoted to the new president, taking responsibility for the bank's management.
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