Economic news(2024/08/02)
METI issues warning to Amazon and Apple over "problems with dealings with business partners"
2024-08-02 23:56:00
On the 2nd, the Ministry of Economy, Trade and Industry issued a recommendation to IT companies Amazon Japan and Apple to take necessary measures, citing problems in their dealings with business partners.
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Yen exchange rate (NY) temporarily rose to 146 yen per dollar
2024-08-02 23:22:00
On the 2nd, the New York foreign exchange market saw the yen strengthen as the US July employment statistics were released, showing that non-agricultural employment growth was significantly lower than market expectations, and the yen temporarily rose to the 146 yen range per dollar. This is the first time the yen has hit the 146 yen range since mid-March of this year, about four and a half months ago. With the US economy slowing and the view that the Federal Reserve Board will lower interest rates growing, the narrowing interest rate gap between Japan and the US has led to an increased trend of selling dollars and buying yen.
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Exports of agricultural, forestry and fishery products and food products fell 1.8% in the first half of the year compared to the same period last year
2024-08-02 21:37:00
Japan's exports of agricultural, forestry, and fishery products and food in the first half of this year were down 1.8% compared to the same period last year, due in part to China's suspension of seafood imports.
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Prime Minister Kishida: "Promoting financial education to realize a virtuous cycle of growth and distribution"
2024-08-02 20:33:00
Prime Minister Kishida visited the Japan Financial and Economic Education Promotion Organization, which was launched this year to promote financial education. He stated his intention to work with the organization to promote financial education, saying that it is an essential initiative to achieve a virtuous cycle of growth and distribution.
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Three major financial groups' third-month net operating profits hit record high for this time of year
2024-08-02 20:30:00
The three major financial groups' net operating profits, which indicate profits from their core businesses, reached record highs for this period in the three-month period ending in June this year. This is due to improved interest margins on loans to companies both at home and abroad.
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Will the yen's depreciation phase come to an end? [Economics column]
2024-08-02 19:42:00
At the beginning of last month, the yen was trading at around 161 yen to the dollar. In the space of a month, the yen strengthened by over 10 yen to the dollar, temporarily dropping to the 148 yen range (as of August 1). The main factors behind this rollercoaster-like sudden fluctuation were the Bank of Japan's interest rate hike and the hint of an interest rate cut from the US. Now that the shift in monetary policy in Japan and the US has become clearer, has the historically weak yen phase come to an end?
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Yen exchange rate rises
2024-08-02 18:50:00
The yen rose in value on the Tokyo foreign exchange market on the 2nd.
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Stock price falls by more than 2,200 yen, the second largest drop in closing price in history
2024-08-02 18:43:00
On the 2nd, the Tokyo stock market saw the Nikkei average closing price fall by more than 2,200 yen from the 1st, due to rapidly growing concerns about the future of the US economy, marking the second largest drop on record after the day after Black Monday in 1987, when stock prices crashed worldwide.
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METI issues warning to Amazon and Apple over "problems with dealings with business partners"
2024-08-02 18:29:00
On the 2nd, the Ministry of Economy, Trade and Industry issued a recommendation to IT companies Amazon Japan and Apple to take necessary measures, citing problems in their dealings with business partners.
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Survey on price negotiations between ordering and receiving parties: Three companies, including housing manufacturers, receive the lowest rating
2024-08-02 18:17:00
In a national survey looking at whether small and medium-sized enterprises are able to appropriately negotiate prices and pass on price increases to clients, three companies, including home builders, received the lowest marks for their handling of price negotiations.
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Kikkoman Foods to voluntarily recall 190,000 bottles of commercial seasonings
2024-08-02 17:58:00
Kikkoman Foods has announced that it will voluntarily recall approximately 190,000 bottles of some of its commercial seasonings, which it supplies to restaurants and other businesses, due to concerns that the containers may expand or the contents may erupt before the caps are opened.
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Stock price falls by more than 2,200 yen, the second largest drop in closing price in history
2024-08-02 17:42:00
On the 2nd, the Tokyo stock market saw the Nikkei average fall by more than 2,200 yen from the closing price on the 1st, due to rapidly growing concerns about the future of the US economy, marking the second largest drop on record after the day after Black Monday in 1987, when stock prices crashed worldwide.
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Public pension fund assets under management exceed 250 trillion yen for the first time
2024-08-02 17:31:00
The Government Pension Investment Fund (GPIF), which manages public pension reserves, posted a profit of more than 8.9 trillion yen from April to June this year, helped by rising stock prices both at home and abroad and a weak yen, and its total managed assets exceeded 250 trillion yen for the first time.
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METI issues warning to Amazon and Apple over "problems with dealings with business partners"
2024-08-02 16:58:00
On the 2nd, the Ministry of Economy, Trade and Industry issued a recommendation to IT companies Amazon Japan and Apple to take necessary measures, citing problems in their dealings with business partners.
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Survey on price negotiations between ordering and receiving parties: Three companies, including housing manufacturers, receive the lowest rating
2024-08-02 16:00:00
In a national survey looking at whether small and medium-sized enterprises are able to appropriately negotiate prices and pass on price increases to clients, three companies, including home builders, received the lowest marks for their handling of price negotiations.
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Stock price falls by more than 2,200 yen, the second largest drop in closing price in history
2024-08-02 15:09:00
On the 2nd, the Tokyo stock market saw a sharp decline in the Nikkei average stock price, closing at about 2,216 yen, as concerns over the future of the US economy rapidly intensified. This was the second-largest drop in closing prices in history. On the 2nd, the Tokyo stock market saw an across-the-board decline, and sell orders continued to grow even toward the end of trading, causing the Nikkei average stock price to fall even further.
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This year's Economic and Fiscal White Paper: "Steady progress toward overcoming deflation"
2024-08-02 14:04:00
This year's "Economic and Fiscal White Paper" has been compiled. It states that "steps towards escaping deflation are progressing steadily," and points out that in order to ensure this trend, it is important to boost wage increases and encourage foreigners and the elderly to participate in the workforce in order to achieve further economic growth.
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Stock prices temporarily fall by more than 2,000 yen as fears grow over the slowdown in the U.S. economy
2024-08-02 13:22:00
On the 2nd, the Tokyo stock market saw a rapid increase in concerns about the future of the US economy, with the Nikkei average temporarily falling sharply by more than 2,000 yen.
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My Number: Public funds receiving accounts in family members' names to be deregistered from early next month
2024-08-02 13:05:00
Regarding the fact that accounts believed to be in the name of family members other than the person themselves remain registered as public fund receiving accounts under the My Number system, Digital Minister Kono has indicated his intention to delete the 117,000 registrations for which correction procedures have not been carried out, from early next month.
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Stock prices temporarily fall by more than 2,000 yen as fears grow over the slowdown in the U.S. economy
2024-08-02 12:10:00
On the 2nd, the Tokyo stock market saw a rapid increase in concerns about the future of the US economy, with the Nikkei average temporarily falling sharply by more than 2,000 yen.
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US Intel to cut more than 15,000 employees after posting final deficit of about 240 billion yen
2024-08-02 11:54:00
American semiconductor manufacturer Intel announced that it would post a final deficit of approximately 240 billion yen (US$2.5 billion) for the three months ending in June, and would cut more than 15,000 jobs, more than 15% of its total workforce.
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Stock prices temporarily fall by more than 2,000 yen due to the decline of major US stock indexes
2024-08-02 10:01:00
On the 2nd, the Tokyo stock market saw the Nikkei average fall by more than 2,000 yen as economic indicators released in the United States were worse than market expectations, raising concerns that a slowdown in the American economy could also have an impact on Japan.
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Stock price temporarily falls by more than 1,700 yen due to the fall of major US stock indexes
2024-08-02 09:18:00
On the 2nd, the Tokyo stock market saw the Nikkei average fall by more than 1,700 yen as economic indicators released in the United States were worse than market expectations, raising concerns that a slowdown in the American economy could also have an impact on Japan.
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Apple's April-June financial results show increased revenue and profits, with tablet devices and other products doing well
2024-08-02 08:43:00
American IT giant Apple reported increased revenue and profits for the three months ending in June this year, thanks to strong sales of tablet devices and video streaming services.
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The NY Dow fell by more than $700 at one point, as fears of an economic slowdown spread
2024-08-02 05:59:00
On the 1st, the New York stock market saw an increase in sell orders due to concerns about an economic slowdown following economic indicators on business sentiment, and the Dow Jones Industrial Average fell sharply, by more than $700 at one point.
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Japan Fair Trade Commission calls for information on unfair treatment from IT giants
2024-08-02 03:41:00
In preparation for the full implementation of new regulations on major IT companies in the smartphone sector, the Fair Trade Commission has begun calling on app developers to provide information on whether they have been treated unfairly by major IT companies.
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Honda and Nissan announce joint research on basic software technology for next-generation vehicles
2024-08-02 03:38:00
Honda and Nissan Motor Co., Ltd. announced that they will conduct joint research into basic software technologies that are essential for next-generation cars. Mitsubishi Motors Corporation will also participate in the framework of the two companies, and the issue is whether this collaboration can accelerate the development speed in areas where overseas manufacturers are ahead.
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