Economic news(2024/10/23)
Japan Display's construction of an organic EL factory in China is scrapped
2024-10-23 21:38:00
Japan Display, a liquid crystal panel manufacturer, has announced that it will put a stop to discussions with a local city in China regarding the construction of a next-generation organic electroluminescence (EL) factory. The company says it will continue to consider building a factory in China.
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The yen fell to the 153 yen range against the dollar, the lowest level in about three months
2024-10-23 21:22:00
In the foreign exchange market on the 23rd, the yen weakened due to expectations that the pace of interest rate cuts in the United States would slow, and at one point the yen fell to the 153 yen range per dollar, the weakest level in approximately three months.
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The yen fell to the 153 yen range against the dollar, the lowest level in about three months
2024-10-23 21:07:00
On the 23rd in the London foreign exchange market, the yen temporarily fell to the 153 yen to the dollar level, the lowest level in about three months since July 31st of this year. The widening interest rate gap between Japan and the US has been brought to renewed attention due to the expectation that the pace of interest rate cuts by the Federal Reserve Board of the US will slow down, and there has been a growing trend to buy dollars and sell yen.
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[Details] Tokyo Metro's market capitalization exceeds 1 trillion yen, its largest IPO since 2018
2024-10-23 19:27:00
Tokyo Metro, which operates nine subway lines mainly in Tokyo, listed its shares on the Tokyo Stock Exchange on the 23rd. During the day, the stock was traded at a higher price than the offering price, and its market capitalization exceeded 1 trillion yen, making it the largest IPO since 2018.
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Tokyo Stock Exchange employee under investigation for alleged violation of Financial Instruments and Exchange Act; family members involved in stock trading
2024-10-23 19:06:00
It has been learned from interviews with people involved that an employee of the Tokyo Stock Exchange has been under compulsory investigation by the Securities and Exchange Surveillance Commission on suspicion of violating the Financial Instruments and Exchange Act for allegedly passing on undisclosed information about a company's takeover bid to a family member. The family is said to have made at least several hundred thousand yen in profits by trading related stocks, and the Surveillance Commission is investigating the circumstances of the stock transactions with a view to filing charges with the Tokyo District Public Prosecutors Office Special Investigation Division.
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[Details] Tokyo Metro's market capitalization exceeds 1 trillion yen, its largest IPO since 2018
2024-10-23 18:48:00
Tokyo Metro, which operates nine subway lines mainly in Tokyo, listed its shares on the Tokyo Stock Exchange on the 23rd. During the day, the stock was traded at a higher price than the offering price, and its market capitalization exceeded 1 trillion yen, making it the largest IPO since 2018.
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The yen fell to the mid-152 yen range against the dollar, the lowest level in about three months.
2024-10-23 18:26:00
On the Tokyo foreign exchange market on the 23rd, the yen fell by more than 1 yen from the 22nd, briefly reaching the mid-152 yen range against the dollar, the weakest level in approximately three months, due to the view that the American economy is solid and the Federal Reserve Board will slow down its pace of interest rate cuts.
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Tokyo Stock Exchange employee under investigation for alleged violation of Financial Instruments and Exchange Act; family members involved in stock trading
2024-10-23 18:17:00
It has been learned from an interview with a person involved that an employee of the Tokyo Stock Exchange has been subjected to a compulsory investigation by the Securities and Exchange Surveillance Commission on suspicion of violating the Financial Instruments and Exchange Act for allegedly passing on undisclosed information about a company's takeover bid to a family member. As the family member had been trading related stocks, the Surveillance Commission is investigating the circumstances of the stock transactions with a view to filing charges with the Tokyo District Public Prosecutors Office Special Investigation Division.
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G20 Finance Ministers and Central Bank Governors Meeting to Open, Discuss Soft Landing for Global Economy
2024-10-23 18:11:00
The G20 finance ministers and central bank governors' meeting will begin in Washington on the 24th (Japan time). As major countries in Europe and the United States shift their focus from policies to curb inflation to supporting the economy by lowering interest rates, the meeting will discuss whether the global economy can achieve a soft landing.
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Former Abercrombie & Fitch CEO indicted for sex trafficking of aspiring models
2024-10-23 18:08:00
The US Attorney's Office in New York announced that it had arrested and indicted three people, including the former CEO of the American fashion brand Abercrombie & Fitch, on charges of sex trafficking of aspiring models.
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September supermarket sales up 1% compared to same month last year, but number of items purchased is on the decline
2024-10-23 16:49:00
Sales at major supermarkets nationwide in September increased 1% from the same month last year due to rising food prices, etc. Industry groups say that the number of items purchased is on the decline due to consumers' increasing tendency to save money.
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Tokyo Metro's market capitalization exceeds 900 billion yen, its largest IPO since 2018
2024-10-23 16:24:00
Tokyo Metro, a subway company, listed its shares on the Tokyo Stock Exchange on the 23rd. Based on the initial price, its market capitalization exceeded 900 billion yen, making it the largest IPO since 2018.
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Stock prices fall Selling orders dominate due to uncertainty about the global economy
2024-10-23 15:56:00
On the 23rd, stock prices on the Tokyo Stock Exchange fell as sell orders prevailed due to uncertainty about the future of the global economy.
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IEA executives attend council to revise national energy plan
2024-10-23 15:49:00
An executive from the International Energy Agency (IEA) attended a council working on revising the country's Basic Energy Plan and pointed out that global electricity demand will expand rapidly due to advances in digitalization and the spread of electric vehicles, and that securing power sources will be a major issue.
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[Live] Tokyo Metro: Largest IPO since 2018 - CEO press conference
2024-10-23 15:32:00
Tokyo Metro, a subway company, listed its shares on the Tokyo Stock Exchange on the 23rd. Based on the initial price, its market capitalization exceeded 900 billion yen, making it the largest IPO since 2018.
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The yen fell to 152 yen per dollar for the first time in about three months
2024-10-23 14:13:00
On the 23rd, in the Tokyo foreign exchange market, there was a widespread trend of selling yen and buying dollars due to the view that the American economy was strong, and the yen fell to the 152 yen range per dollar for the first time in approximately three months since July 31st of this year.
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TSE employee under investigation for alleged violation of Financial Instruments and Exchange Act: Did he pass on undisclosed information to his family?
2024-10-23 14:04:00
It has become clear from interviews with people involved that an employee of the Tokyo Stock Exchange has been subjected to a compulsory investigation by the Securities and Exchange Surveillance Commission on suspicion of violating the Financial Instruments and Exchange Act for allegedly passing on undisclosed information about a company's takeover bid to a family member. The family member was said to have been trading related stocks, and the Surveillance Commission is currently investigating the circumstances of the stock transactions.
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Stock prices fall slightly
2024-10-23 12:27:00
The Tokyo Stock Exchange saw a mix of buying and selling in the morning on the 23rd, with the Nikkei Stock Average dropping slightly. The Nikkei Stock Average closed at 38,300.81 yen, down 111.15 yen from the closing price on the 22nd. The Tokyo Stock Exchange Price Index (TOPIX) rose 0.16 to 2,651.63. Morning trading volume was 896.01 million shares. A market insider said, "In response to the drop in the Dow Jones Industrial Average in the New York market on the 22nd, sell orders were dominant immediately after trading began in the Tokyo market. However, in the foreign exchange market, the yen fell to the high 151 yen range against the dollar, which led to buy orders for export-related stocks, and so buying and selling has been mixed since then."
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The yen is trading at around 151 yen to the dollar, the lowest level in about three months.
2024-10-23 11:55:00
On the 23rd in the Tokyo foreign exchange market, the view that the US economy is strong led to a widespread trend of selling yen and buying dollars, with the yen trading at the low 151 yen range to the dollar, its weakest level in about three months. A market insider said, "The indicators regarding the business confidence of American companies announced on the 22nd exceeded market expectations, and the view that the US economy is strong and the pace of interest rate cuts by the Federal Reserve Board will slow down led to a trend of buying dollars, causing the yen to fall to its weakest level in about three months since July of this year."
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Tokyo Metro's market capitalization exceeds 900 billion yen, its largest IPO since 2018
2024-10-23 11:54:00
Tokyo Metro, a subway company, listed its shares on the Tokyo Stock Exchange on the 23rd. Based on the initial price, its market capitalization exceeded 900 billion yen, making it the largest IPO since 2018.
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Tokyo Stock Exchange employee under compulsory investigation by Securities and Exchange Commission for suspected violation of Financial Instruments and Exchange Act
2024-10-23 11:48:00
It has been learned from interviews with people involved that a Tokyo Stock Exchange employee has been subjected to a compulsory investigation by the Securities and Exchange Surveillance Commission on suspicion of violating the Financial Instruments and Exchange Act, which prohibits insider trading, by passing on undisclosed information about a company's takeover bid to a relative. The employee was in a position to know important information that listed companies were about to disclose to investors in advance, and the Surveillance Commission is currently investigating the circumstances under which the information was passed on.
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Tokyo Metro listed at initial price of 1,630 yen per share, exceeding offering price
2024-10-23 10:42:00
Tokyo Metro, a subway company, listed its shares on the Tokyo Stock Exchange on the 23rd, and the initial price was 1,630 yen per share, 430 yen higher than the offering price of 1,200 yen. The market capitalization calculated based on the initial price was over 940 billion yen, making it the largest listing this year.
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[Oha Biz Commentary] Dodgers player Shohei Ohtani's economic impact of 116.8 billion yen
2024-10-23 08:38:00
It has been estimated that the economic impact of the success of Shohei Ohtani of the Los Angeles Dodgers in Major League Baseball, including increased spending at the stadium and merchandise sales, will exceed 110 billion yen this year.
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TSE employees investigated for insider trading allegations
2024-10-23 08:37:00
It has been learned from interviews with people involved that a Tokyo Stock Exchange employee has been subjected to a compulsory investigation by the Securities and Exchange Surveillance Commission on suspicion of violating the Financial Instruments and Exchange Act, which prohibits insider trading, by passing on undisclosed information about a company's takeover bid to a relative. The employee was in a position to know important information that listed companies were about to disclose to investors in advance, and the Surveillance Commission is currently investigating the circumstances under which the information was passed on.
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Towards a carbon-free society: "Establish a public-private data space" - Keidanren
2024-10-23 06:03:00
As Europe moves toward a decarbonized society and the disclosure of information on carbon dioxide emissions and other data becomes more widespread, the Japan Business Federation (Keidanren) has put together a proposal calling for the establishment of a system in Japan that allows domestic and international companies to share data and lead to information disclosure, with the public and private sectors working together to do so.
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TSE employees investigated for insider trading allegations
2024-10-23 06:02:00
It has been learned from interviews with people involved that a Tokyo Stock Exchange employee has been subjected to a compulsory investigation by the Securities and Exchange Surveillance Commission on suspicion of violating the Financial Instruments and Exchange Act, which prohibits insider trading, by passing on undisclosed information about a company's takeover bid to a relative. The employee was in a position to know important information that listed companies were about to disclose to investors in advance, and the Surveillance Commission is currently investigating the circumstances under which the information was passed on.
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Financial Services Agency conducts on-site inspection of Toyota subsidiary's car dealership
2024-10-23 05:58:00
It has been discovered that the Financial Services Agency, which is investigating fraudulent insurance claims made by used car dealers to non-life insurance companies, is conducting an on-site inspection of a car dealership subsidiary of Toyota Motor Corporation. It is believed that the aim of the inspection is to investigate the actual business practices, such as whether insurance claims are being made properly.
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The New York yen exchange rate fell to the low 151 yen range against the dollar, the lowest level in two and a half months.
2024-10-23 05:56:00
On the 22nd in the New York foreign exchange market, the yen temporarily fell to the low 151 yen range against the dollar due to expectations that the pace of interest rate cuts by the US Federal Reserve would slow, reaching its lowest level in approximately two and a half months.
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Tokyo Metro listed today, its market capitalization is the largest this year
2024-10-23 05:47:00
Tokyo Metro, a subway operator, will list its shares on the Tokyo Stock Exchange on the 23rd. The company's market capitalization at the time of listing will be the largest this year, and it will be a test of how well it presents its growth strategy to investors.
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