Economic news(2024/10/29)
Stock prices rise due to the rise in major stock indexes in the New York market
2024-10-29 20:39:00
The Nikkei Stock Average rose following increases in major stock indexes on the Tokyo Stock Exchange on the 29th and on the New York Stock Exchange on the 28th.
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Monthly economic report for October: "Some signs of stagnation but gradual recovery" - basic assessment maintained
2024-10-29 19:53:00
In its October monthly economic report, the government maintained its basic assessment of the current economic situation, saying that "the economy is recovering slowly, although some areas remain sluggish."
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Yen exchange rate: Small fluctuations
2024-10-29 19:44:00
On the 29th, the Tokyo foreign exchange market saw little active trading ahead of the Bank of Japan's monetary policy meeting and the release of US employment statistics, and the yen saw little fluctuation.
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Large-scale exhibition introducing the latest technologies to reduce plastic waste and decarbonize Chiba
2024-10-29 19:22:00
A large-scale exhibition showcasing the latest technologies in the materials industry that will lead to reducing plastic waste and decarbonization has begun in Chiba City.
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JR East: Local lines in deficit of about 75 billion yen JR West: Over 23.3 billion yen
2024-10-29 19:10:00
JR East has released its financial results for last year's sections with low passenger numbers, showing a total deficit of approximately 75 billion yen for 72 sections on 36 lines.
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"No request for power saving this winter" - METI expects stable supply
2024-10-29 18:39:00
Regarding electricity supply and demand this winter, the Ministry of Economy, Trade and Industry has decided not to request power conservation, as it did last year, stating that the "reserve margin," an indication of surplus supply, is expected to be able to maintain the level necessary for stable supply in all regions of the country.
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Small and medium-sized enterprises learn concrete measures to take before the ordinance to prevent "customer harassment" comes into force
2024-10-29 18:31:00
Ahead of the enforcement of an ordinance in Tokyo to prevent customer harassment, known as "customer harassment," including nuisance behavior from customers, a seminar was held for small and medium-sized businesses to learn specific ways to respond. The seminar was held by the Tokyo Metropolitan Small and Medium Enterprise Support Center for small and medium-sized retailers, and was attended by approximately 100 people, including online.
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Telecommunications companies interviewed regarding NTT Law review report
2024-10-29 18:29:00
The Ministry of Internal Affairs and Communications' working group, which is discussing the NTT Act, has compiled a report stating that fixed-line telephones using mobile phone networks should be included in the nationwide uniform telephone service, and that the conditions currently imposed on NTT as a provider should be reviewed.Hearings were held with the four major telecommunications companies in regard to the report.
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Compulsory investigation by TSE officials leads to committee investigation Japan Exchange Group
2024-10-29 18:23:00
In response to the issue of a Tokyo Stock Exchange employee being investigated for allegedly passing on information about a company's tender offer (share takeover bid) to his family, the Japan Exchange Group has announced that it has set up a committee of outside directors and is currently investigating the cause of the issue.
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Fake ads impersonating celebrities "caused harm by being ignored" - lawsuits filed in five district courts across the country against Meta
2024-10-29 18:12:00
Amid a series of fraud cases involving fake advertisements on social media sites impersonating celebrities, victims from the Kansai and Kanto regions have simultaneously filed lawsuits in five courts across the country against Meta, the company that operates Facebook and other social media sites, seeking a total of over 400 million yen in damages, claiming that the fake advertisements were allowed to continue and caused the damage.
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Hino Motors posts final deficit of 219.5 billion yen from April to September due to inspection data falsification issue
2024-10-29 17:52:00
Hino Motors' interim financial results for the period from April this year to last month showed a net loss of nearly 220 billion yen, the largest for this period, due to the recording of extraordinary losses due to the impact of falsification of inspection data for emissions and other areas.
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Lawsuits filed in five locations nationwide against fake celebrity ads that "cause damage if ignored"
2024-10-29 17:15:00
Amid a series of fraud cases involving fake advertisements on social media sites impersonating celebrities, victims from the Kansai and Kanto regions have simultaneously filed lawsuits in five courts across the country against Meta, the company that operates Facebook and other social media sites, seeking a total of over 400 million yen in damages, claiming that the fake advertisements were allowed to continue and caused the damage.
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Independent investigation committee set up to investigate insider trading allegations against TSE employees Japan Exchange Group
2024-10-29 16:30:00
Japan Exchange Group has announced that it has set up a committee of independent outside directors to investigate the cause of the issue after the Securities and Exchange Surveillance Commission investigated an employee of its subsidiary, the Tokyo Stock Exchange, for allegedly passing on information about a company's tender offer to his family. The company plans to make the results of the investigation public as soon as possible after it is completed.
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Ministry of Economy, Trade and Industry: "New framework for economic measures to support semiconductor industry"
2024-10-29 16:21:00
The Ministry of Economy, Trade and Industry has officially announced its intention to aim to include a new framework to provide financial support to the domestic semiconductor industry in the government's economic measures that will be finalized soon.
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Japanese sake becomes more popular in Malaysia; Ehime sake brewers promote it
2024-10-29 16:01:00
In an effort to promote Ehime sake in Southeast Asia, where the economy continues to grow, an event was held in Malaysia with the participation of breweries from the prefecture, promoting the appeal of Ehime sake to local importers and others.
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Lawsuits filed in five locations nationwide against fake celebrity ads that "cause damage if ignored"
2024-10-29 15:56:00
Amid a series of fraud cases involving fake advertisements on social media sites impersonating celebrities, victims from the Kansai and Kanto regions have simultaneously filed lawsuits in five courts across the country against Meta, the company that operates Facebook and other social media sites, seeking a total of over 400 million yen in damages, claiming that the fake advertisements were allowed to continue and caused the damage.
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Telecommunications companies interviewed regarding NTT Law review report
2024-10-29 15:53:00
The Ministry of Internal Affairs and Communications' working group, which is discussing the NTT Act, has compiled a report stating that fixed-line telephones using mobile phone networks should be included in the nationwide uniform telephone service, and that the conditions currently imposed on NTT as a provider should be reviewed.Hearings were held with the four major telecommunications companies in regard to the report.
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Stock prices rise due to the rise in stock prices in the New York market
2024-10-29 15:39:00
The Nikkei Stock Average rose in response to the rise in major stock price indexes on the Tokyo Stock Exchange on the 29th and the New York Stock Exchange on the 28th. The Nikkei Stock Average closed at 38,903.68 yen, 298.15 yen higher than the closing price on the 28th. The Tokyo Stock Exchange Stock Price Index (TOPIX) rose 24.24 to 2,682.02. The daily trading volume was 1,586,520,000 shares. A market insider said, "Following the rise in stock prices on the New York market, buy orders spread to a wide range of stocks on the Tokyo market. However, there were many investors who wanted to wait and see the Bank of Japan's monetary policy meeting scheduled for this week and the US employment statistics, so the price movement was not one-sided."
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Hino Motors posts final deficit of 219.5 billion yen from April to September due to inspection data falsification issue
2024-10-29 15:37:00
Hino Motors posted a net loss of 219.5 billion yen in its interim financial statements for the period from April to September this year. This was due to the company recording an extraordinary loss of 230 billion yen to cover the costs of settling with the U.S. authorities over the certification issue over the falsification of exhaust gas and other testing data, as well as the estimated costs of settling a lawsuit in Canada.
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Lawsuits filed in five locations nationwide against fake celebrity ads that "cause damage if ignored"
2024-10-29 12:49:00
Amid a series of fraud cases involving fake advertisements on social media sites impersonating celebrities, victims from the Kansai and Kanto regions have simultaneously filed lawsuits in five courts across the country against Meta, the company that operates Facebook and other social media sites, seeking a total of over 400 million yen in damages, claiming that the fake advertisements were allowed to continue and caused the damage.
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The yen has risen slightly, trading at around 153 yen to the dollar.
2024-10-29 12:21:00
On the 29th, the Tokyo foreign exchange market saw some appreciation as investors started buying back the yen that had been sold recently, trading at around 153 yen to the dollar. A market insider said, "On the 28th, the yen weakened against the dollar, reaching the upper 153 yen range, but on the 29th, Finance Minister Kato made some remarks at a press conference after the Cabinet meeting to warn against market movements, and this has led to a movement to buy back the yen that had fallen in value. However, this week there will be a series of important US economic statistics released, and the Bank of Japan's monetary policy meeting is also coming up, so many investors will want to wait and see the results."
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Nikkei Stock Average Rise Following Rise on New York Stock Exchange
2024-10-29 12:12:00
On the 29th, the Nikkei Stock Average rose in the Tokyo Stock Exchange following the major stock price indexes on the 28th in New York. ▽The Nikkei Stock Average closed at 38,819.51 yen, 213.98 yen higher than the closing price on the 28th. ▽The Tokyo Stock Exchange Price Index (TOPIX) rose 21.54 points to 2,679.32. ▽Morning trading volume was 825.55 million shares. A market insider said, "There is a movement to sell stocks that rose on the 28th, but since major stock price indexes such as the Dow Jones Industrial Average all rose in the New York market on the 28th, buy orders are prevailing in the Tokyo market. Many investors are trying to gauge political trends following the results of the House of Representatives election."
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Unemployment rate in September was 2.4%, down 0.1 percentage point from the previous month
2024-10-29 09:26:00
According to the Ministry of Internal Affairs and Communications, the nationwide unemployment rate last month was 2.4%, down 0.1 percentage point from the previous month.
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Unemployment rate in September was 2.4%, down 0.1 percentage point from the previous month
2024-10-29 08:39:00
According to the Ministry of Internal Affairs and Communications, the nationwide unemployment rate last month was 2.4%, down 0.1 percentage point from the previous month.
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Crude oil futures prices temporarily fall by more than 6% as Middle East tensions are avoided
2024-10-29 08:14:00
As Israel's countermeasures against Iran did not target nuclear facilities or oil-related facilities, the view spread in the New York crude oil market on the 28th that a further escalation of tensions in the Middle East had been avoided, and international crude oil futures prices temporarily fell by more than 6% from last weekend.
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METI considers new framework for multi-year funding for semiconductor industry
2024-10-29 05:49:00
It has been learned that the Ministry of Economy, Trade and Industry is considering establishing a new framework to provide financial support over multiple years in order to support the domestic semiconductor industry. By clarifying its stance of providing mid- to long-term support, the government hopes to attract private investment, but as the amount of government support is expected to be huge, it is expected that the necessity of such support will be severely questioned.
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Boeing to raise $19 billion to shore up financial base
2024-10-29 05:43:00
On the 28th, aircraft manufacturer Boeing announced plans to raise $19 billion (approximately 2.9 trillion yen) through new stock issuance and other means. Boeing aims to revitalize its financial base, which has been deteriorating due to a labor union strike that has stalled aircraft production.
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