Economic news(2024/10/30)
MIXI subsidiary's CEO dismissed over suspicion of inappropriate financial transactions
2024-10-30 21:34:00
MIXI announced that it had dismissed the representative director of a subsidiary that sells betting tickets for bicycle racing and auto racing online, effective the 30th. The company said that this was due to suspicions that the representative director had engaged in inappropriate financial transactions with business partners.
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Hitachi's April to September financial results: final profit of over 290 billion yen
2024-10-30 21:24:00
Hitachi, a major electronics manufacturer, reported an increase in net profit to just over 290 billion yen in the six-month period ending in September, thanks to strong performance in its data center and power transmission and distribution equipment businesses.
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Volkswagen's third-month net profit down 60% year-on-year
2024-10-30 21:23:00
Volkswagen, a major German car manufacturer, reported a 60% drop in its final profits for the three months ending in September compared to the same period last year. The company is considering closing factories for the first time since its founding, citing the urgent need to cut costs.
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JR East Takanawa Gateway Station redevelopment project to partially open in March next year
2024-10-30 21:04:00
Regarding the large-scale redevelopment project currently underway around Takanawa Gateway Station on the Yamanote Line, JR East has announced that part of the station will open on March 27th next year.
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NTT Group to invest approximately 250 billion yen in large-scale data center construction
2024-10-30 21:02:00
It has been revealed that the NTT Group will invest approximately 250 billion yen to build a large-scale data center in an industrial park in Tochigi Prefecture. With the advancement of digitalization and the spread of generative AI, data centers to process data are being built one after another.
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Funai Electric, which has entered bankruptcy proceedings, has lost funds due to large loans to affiliated companies
2024-10-30 20:57:00
Funai Electric, an Osaka-based home appliance manufacturer that has received a court order to start bankruptcy proceedings, has been found to be in debt of over 11.7 billion yen due to capital outflows from large loans made to affiliated companies.
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Special committee calls for fundamental reforms over IHI subsidiary data falsification scandal
2024-10-30 19:57:00
On the 30th, a special investigative committee compiled a report on the issue of a subsidiary of IHI, a major machinery manufacturer, falsifying fuel efficiency data for marine engines and other products. The committee pointed out that the falsification over the years was caused by "executive management turning a blind eye to inappropriate conduct," and called for fundamental reform.
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TEPCO HD's half-year financial results show net profit down 46% compared to the same period last year
2024-10-30 19:01:00
Tokyo Electric Power Company Holdings announced its financial results for the six months ending September this year, reporting a net profit of 189.5 billion yen, down 46% from the same period last year. In addition, the company's earnings outlook for this fiscal year remains "undecided" as there is no prospect of restarting the Kashiwazaki-Kariwa Nuclear Power Plant in Niigata Prefecture.
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Oriental Land's half-year financial results: Net profits fall as attendance falls due to extreme heat
2024-10-30 18:34:00
Oriental Land, which operates Tokyo Disneyland and other parks, announced its financial results for the six months to September this year. While sales reached an all-time high thanks to price hikes on some tickets, final profits fell due to a drop in attendance caused by the extreme heat this summer.
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Staple rice, which has been in short supply for a long time, is expected to increase in private stocks, Ministry of Agriculture, Forestry and Fisheries
2024-10-30 18:21:00
Regarding rice, a staple food that has been in short supply at supermarkets across the country for a while, the Ministry of Agriculture, Forestry and Fisheries has announced that it expects private stock levels to increase by 90,000 tons by June next year from the record low in June this year.
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Yen exchange rate: Small fluctuations
2024-10-30 18:09:00
On the 30th, active trading was refrained from on the Tokyo foreign exchange market ahead of the announcement of the results of the Bank of Japan's monetary policy meeting on the 31st, and the yen saw little fluctuation.
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Bank of Japan Monetary Policy Meeting: Widespread view of keeping policy interest rates unchanged
2024-10-30 17:46:00
The Bank of Japan's monetary policy meeting began on the 30th, and on the first day, the economy and price situation were discussed. There is a widespread view that the Bank of Japan will keep its policy interest rate unchanged at this meeting, and the focus will be on the Bank of Japan's outlook for future interest rate hikes, in addition to the analysis of the US economy, which is key to policy decisions.
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Suzuki to supply Indian-made EVs to Toyota from next spring
2024-10-30 17:19:00
Suzuki, an automobile manufacturer, has announced that it will supply electric vehicles (EVs) produced in India to Toyota Motor Corporation from next spring. As the development and sales competition for EVs intensifies around the world, there is a growing movement for Japanese manufacturers to deepen cooperation.
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December electricity bills for the top 10 companies to rise by 500-600 yen as government subsidies end
2024-10-30 16:32:00
The electricity bills billed by the 10 major electric power companies in December this year will increase by around 500 to 600 yen for the average household, as government subsidies will end.
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"HIFU burns" lawsuit begins: Treatment without medical license focuses on illegality
2024-10-30 15:57:00
A woman in her 20s is seeking compensation from a beauty salon company for burns she sustained during a beauty treatment using a technology called "HIFU," and the company has asked for the lawsuit to be dismissed. This is believed to be the first lawsuit to question the illegality of HIFU by someone without a medical license, and the upcoming hearings are attracting attention.
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Japanese automakers struggle in China, first-half sales fall across the board
2024-10-30 15:53:00
In the first half of this fiscal year, five major Japanese automakers saw sales increases in the United States, thanks to strong sales of hybrid vehicles and other vehicles. However, in China, where EVs are rapidly gaining popularity, all companies saw sales declines and continue to struggle.
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Stock prices temporarily rise by more than 500 yen, with purchase orders centered on semiconductor-related stocks
2024-10-30 15:33:00
On the 30th, the Tokyo stock market saw a rise in buying orders, particularly for semiconductor-related stocks, and the Nikkei average temporarily rose by more than 500 yen.
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Stock prices temporarily rise by more than 500 yen, with purchase orders centered on semiconductor-related stocks
2024-10-30 12:59:00
On the 30th, the Nikkei average rose by more than 500 yen at one point in the Tokyo Stock Exchange. Following the trend of the Nasdaq stock index, which is dominated by tech-related stocks, hitting a new record high on the 29th in the New York market, buying orders are spreading, mainly for semiconductor-related stocks.
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Stock prices rise as US Nasdaq stock index hits new record high
2024-10-30 12:12:00
On the 30th, the Nikkei Stock Average rose on the Tokyo Stock Exchange, following the trend of the Nasdaq stock index, which is dominated by technology-related stocks, hitting a new record high on the New York Market on the 29th.
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Google parent company's third-month final profit up 34% year-on-year
2024-10-30 09:45:00
Alphabet, the parent company of American IT giant Google, reported a 34% increase in net profit for the three months ending last month compared to the same period last year, due in part to strong performance in its cloud business, which utilizes generative AI.
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Major trading companies start selling domestically farmed salmon
2024-10-30 06:59:00
As global demand for salmon increases due to growing health consciousness and other factors, major trading companies are increasingly moving to sell salmon farmed domestically on land.
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Used smartphone sales to reach record high for sixth consecutive year, private research firm predicts
2024-10-30 06:54:00
A private research company has announced that sales of used smartphones this fiscal year will reach a record high for the sixth consecutive year. The company says that the demand for used devices is on the rise due to rising material costs and the high prices of new products.
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McDonald's CEO apologizes for food poisoning outbreak linked to product
2024-10-30 06:37:00
The top management of McDonald's, a major American hamburger chain, has apologized for the food poisoning incident linked to the company's products and indicated its intention to take steps to restore trust.
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New York market Nasdaq stock index hits highest level in about three and a half months
2024-10-30 06:33:00
On the 29th, on the New York Stock Exchange, the Nasdaq stock index, which is dominated by technology-related stocks, hit a new record high for the first time in about three and a half months, driven by expectations for the performance of major IT companies.
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Four private railway companies in Kansai introduce credit card "touch payment" at ticket gates
2024-10-30 04:54:00
Major private railways in the Kansai region have introduced "touch payment" at many stations since the 29th, allowing passengers to pass through ticket gates by waving their credit cards.
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