Economic news(2024/09/09)
Asian Development Bank President Asakawa to retire, former Finance Minister Kanda to be recommended as successor
2024-09-09 22:38:00
ADB President Asakawa is set to step down in February next year, and the government is considering recommending former Finance Minister Kanda as his successor.
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Seven & i to acquire Canadian company: "If more specific proposals are made, we will hold discussions"
2024-09-09 21:36:00
On the 9th, Seven & i Holdings, a major retailer, released a statement in response to a Canadian convenience store giant's continued efforts to acquire the company. In the statement, the company said it would not accept the current proposal from the Canadian company, but would be open to discussions if a more specific proposal were made.
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Hawaiians operator Tokiwa Kosan to be acquired by US investment fund
2024-09-09 19:32:00
Tokiwa Kosan, the operator of the hot spring resort facility "Spa Resort Hawaiians" in Iwaki City, Fukushima Prefecture, is expected to be acquired by an American investment fund. The aim is to utilize the management know-how and financial strength of the fund to attract more customers, while maintaining the facility's brand and employment.
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Keidanren Chairman: US Steel acquisition plan "fair and unaffected by presidential election"
2024-09-09 18:29:00
Regarding reports that President Biden is preparing to announce that he will formally block Nippon Steel's plan to acquire U.S. Steel, a major American steel manufacturer, Keidanren Chairman Tokura pointed out at a press conference on the 9th that the decision should not be influenced by the presidential election, and indicated his intention to closely watch whether a decision based on the rules is made.
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Yen falls as US interest rate cut unlikely this month
2024-09-09 18:25:00
On the 9th, the start of the week in the Tokyo foreign exchange market, there was a buying of dollars and selling of yen due to the view that the Federal Reserve, the US central bank, would not make a significant interest rate cut this month, and the yen fell to the 143 yen range per dollar.
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Stock price temporarily fell sharply by more than 1,100 yen, but then fell slightly due to buying back.
2024-09-09 16:33:00
On the 9th, the Tokyo stock market saw the Nikkei average temporarily fall sharply by more than 1,100 yen due to concerns about the future of the US economy, but a buying back movement subsequently emerged and the stock ended trading with a small decrease.
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August Economy Watchers Survey exceeds previous month for third consecutive month
2024-09-09 16:20:00
The August Economy Watchers Survey, which asks working people about their economic perceptions, showed that the index showing the current state of the economy had increased from the previous month for the third consecutive month, due to factors such as strong travel and consumption over the Obon holiday period.
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Japan's current account surplus hits record high of 3.193 trillion yen in July - Ministry of Finance
2024-09-09 11:26:00
Japan's current account balance, which shows how much it earned from trade and investment with other countries, recorded a surplus of 3.193 trillion yen in July of this year, the largest ever for the month of July. This was mainly due to an increase in dividends received by Japanese companies from their overseas subsidiaries, against the backdrop of a weak yen and rising interest rates overseas.
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GDP growth rate revised down to 2.9% on an annualized basis for April-June
2024-09-09 10:32:00
The revised figure for GDP (gross domestic product) for the April-June period of this year has been revised down to reflect the latest statistics, with the real growth rate being revised down to an annualized rate of 2.9% from the preliminary figure of 3.1% released last month.
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Nikkei average temporarily falls by more than 1,100 yen
2024-09-09 09:13:00
On the Tokyo Stock Exchange on the 9th, the Nikkei average temporarily fell by more than 1,100 yen as concerns about the future of the US economy grew following the results of the employment statistics released on the 6th. On the New York Stock Exchange on the 6th, major stock indexes all fell as concerns about the future of the US economy grew after the US employment statistics showed that the increase in non-agricultural employment fell short of market expectations. In response to this, sell orders swelled for a wide range of stocks on the Tokyo Exchange on the 9th, causing stock prices to fall.
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GDP growth rate revised down to 2.9% on an annualized basis for April-June
2024-09-09 08:56:00
The Cabinet Office announced on the 9th that the real growth rate of GDP (gross domestic product) for the April to June period of this year compared to the previous three months was 2.9% on an annualized basis. This was a downward revision from the preliminary figure of 3.1% announced on the 15th of last month.
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Convenience stores and other outlets expand low-priced products as savings-oriented trends continue
2024-09-09 06:34:00
As consumers continue to be frugal in the face of rising prices, convenience stores and supermarkets are expanding their low-priced product ranges to attract customers.
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