Economic news(2024/07/23)
Nippon Steel announces dissolution of joint venture with China's Baoshan Iron & Steel, withdrawing from business
2024-07-23 19:03:00
Nippon Steel Corporation has announced that it will dissolve its joint venture with Chinese steel manufacturer Baoshan Iron and Steel Co., Ltd. and withdraw from the business. The two companies have been involved in the modernization of China's steel industry since providing technical assistance in the 1970s, but this marks a major turning point in their half-century relationship.
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Yen exchange rate rises
2024-07-23 18:41:00
The yen rose in value on the Tokyo foreign exchange market on the 23rd.
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Stock prices fall slightly
2024-07-23 18:09:00
On the 23rd, the Nikkei Stock Average on the Tokyo Stock Exchange fell slightly.
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Prime Minister Kishida calls for industrial concentration in areas with abundant electricity, including through renewable energy sources
2024-07-23 17:44:00
With a view to realizing a carbon-free society and developing an efficient power transmission grid, Prime Minister Kishida expressed his intention to expedite consideration of new support systems and other measures to concentrate industry in areas with an abundance of electricity from renewable energy sources, nuclear power generation, and other sources.
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Amazon enters online prescription drug sales
2024-07-23 16:53:00
Amazon has teamed up with major drugstore chains to enter the online sales of prescription drugs. While many domestic companies are involved, the entry of a company with a high market share in online sales is likely to bring about new competition.
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Nippon Steel to withdraw from joint venture with China's Baoshan Iron and Steel
2024-07-23 15:31:00
Nippon Steel has decided to withdraw from its joint venture with Chinese steelmaker Baoshan Iron and Steel.
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After the merger of the Adachi and Katsushika ward credit unions, they will be called the Shitamachi Credit Union.
2024-07-23 15:20:00
In anticipation of future population decline, two credit unions with their head offices in Adachi and Katsushika wards have decided to merge, the first such merger in Tokyo in 19 years, and have announced that their new name after the merger will be "Shitamachi Shinkin Bank."
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Four major non-life insurance companies ordered by Financial Services Agency to report information leaks
2024-07-23 14:52:00
Four major non-life insurance companies have revealed that they have received a request for a report from the Financial Services Agency in response to a data leak issue in which insurance policyholder information was sent to competitors in emails exchanged between insurance agency representatives, when in fact it should not have been sent.
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"China announces elimination of tariffs on Japanese stainless steel products" Ministry of Economy, Trade and Industry
2024-07-23 14:10:00
The Ministry of Economy, Trade and Industry announced that the Chinese government has lifted the high tariffs it had imposed on several Japanese-made stainless steel products. Last year, the World Trade Organization (WTO) issued a ruling calling for China to rectify these tariff measures.
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Kobayashi Pharmaceutical decides to resign chairman and president to take responsibility for "red yeast rice" issue
2024-07-23 13:27:00
In response to the issue of people who took supplements containing Kobayashi Pharmaceutical's red koji ingredients developing kidney diseases and other conditions, the company held a board of directors meeting on the 23rd and decided that the two top executives, Chairman Kazumasa Kobayashi (84) and President Akihiro Kobayashi (53), would resign to take responsibility for the issue.
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Kobayashi Pharmaceutical's chairman and president decide to resign following the "Red Koji" issue
2024-07-23 12:12:00
In response to the issue of people who took Kobayashi Pharmaceutical's red koji supplement developing kidney problems, the company held a board meeting on the 23rd and decided to have the two top executives, Chairman Kazumasa Kobayashi (84) and President Akihiro Kobayashi (53), resign. The new president will be Senior Managing Director Satoshi Yamane (64), who will be the first president to be from a family that is not part of the company's founding.
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NY Stocks: Dow Jones Industrial Average rises, Nasdaq Stock Index also rises sharply
2024-07-23 07:14:00
On the 22nd, the New York stock market saw a move to buy back stocks that had recently fallen in price, causing the Dow Jones Industrial Average to rise and the Nasdaq stock index to also rise significantly.
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Kobayashi Pharmaceutical chairman and president considering resigning following red yeast rice controversy
2024-07-23 01:13:00
It has been learned through interviews with people involved that the company is considering having Chairman Kazumasa Kobayashi and President Akihiro Kobayashi resign in response to the issue of people developing kidney diseases and other conditions after taking supplements containing Kobayashi Pharmaceutical's red koji ingredients.
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