Economic news(2024/11/12)
METI issues business improvement advice to JERA for price manipulation in electricity trading market
2024-11-12 21:45:00
The Ministry of Economy, Trade and Industry has issued a business improvement recommendation to the power generation company JERA, accusing it of manipulating prices in the electricity trading market.
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Sumitomo Mitsui Trust Bank employee suspected of insider trading; parent company sets up investigation committee
2024-11-12 19:34:00
Regarding the issue of insider trading by a manager working at Sumitomo Mitsui Trust Bank, the parent company announced on the 12th that it has set up an investigative committee within the company to clarify the facts. It also plans to investigate whether other employees have engaged in insider trading.
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Sharp's interim financial results turn around from last year's deficit to a profit
2024-11-12 19:12:00
In the six-month financial results for the major electronics manufacturer Sharp this year ending in September, the company carried out structural reforms, including halting production of large LCD panels for televisions, which had been suffering from poor performance, and as a result, its operating profit, which represents the profit from its core business, turned around from a loss last year to a profit for the first time in two years.
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SoftBank Group's April-September financial results: final profit of 1.053 trillion yen
2024-11-12 19:04:00
SoftBank Group announced its financial results for the six months from April this year, reporting a net profit of 1.053 trillion yen. This is the first time in three years that the company has posted a profit during this period, and this is due in part to improved performance in its main investment fund business, which saw the stock prices of its investment targets rise.
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Prime Minister Ishiba plans to provide more than 10 trillion yen in public support to the AI and semiconductor industry over seven years
2024-11-12 18:33:00
Prime Minister Ishiba has announced a policy to establish a new framework to provide more than 10 trillion yen in public support over the seven years up to fiscal 2030 in order to support the domestic AI and semiconductor industries. The aim is to attract investment from the private sector, but as it will mean continuing to provide huge amounts of support to specific industries, the appropriateness and effectiveness of this plan is likely to be severely questioned.
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BookOff confirms fraud, including fictitious purchases; president's salary cut by 30%
2024-11-12 18:23:00
Book Off Group Holdings, which sells used books, has announced that it has taken disciplinary action, including reducing the president's salary by 30%, after it was found that employees had engaged in fraudulent transactions, including fictitious purchases, at several stores operated by its subsidiaries.
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Zensho Holdings' half-year financial results: Sales and net profits both reach record highs
2024-11-12 18:16:00
Zensho Holdings, which operates restaurant chains such as Sukiya and Hama Sushi, announced its financial results for the six months ending in September this year, showing record highs for this time of year in both sales and net profits, due to an increase in visits by families and others.
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Yen exchange rate: Small fluctuations
2024-11-12 18:11:00
On the 12th, the Tokyo foreign exchange market saw the yen fluctuate little as many investors wanted to gauge the policies of Trump, who won the US presidential election.
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SoftBank Group's April-September financial results: final profit of 1.053 trillion yen
2024-11-12 17:57:00
SoftBank Group announced its financial results for the six months from April this year, reporting a net profit of 1.053 trillion yen. This is the first time in three years that the company has posted a profit during this period, and this is due in part to improved performance in its main investment fund business, which saw the stock prices of its investment targets rise.
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Stock prices fall as sell orders spread, mainly for semiconductor-related stocks
2024-11-12 16:01:00
On the Tokyo stock market on the 12th, buy orders were placed in the morning, but in the afternoon sell orders spread, particularly for semiconductor-related stocks, causing the Nikkei average to fall.
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SoftBank Group's April-September financial results: final profit of 1.053 trillion yen
2024-11-12 15:58:00
SoftBank Group announced its financial results for the six months from April to September this year, reporting a net profit of 1.053 trillion yen. This is the first time in three years that the company has posted a net profit for this period. The main reason for this is an improvement in the performance of investment funds under its main business, as the stock prices of the companies in which they invested rose.
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Stock prices rise Buy orders for a wide range of stocks
2024-11-12 12:12:00
On the 12th, the Tokyo stock market saw the Nikkei average rise as buy orders were placed on a wide range of stocks, following the trend seen on the 11th when major stock indexes on the New York market all hit new highs.
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The NY Dow Jones Industrial Average closed at the 44,000 dollar mark for the first time, setting a new record high
2024-11-12 07:35:00
On the 11th, the Dow Jones Industrial Average rose in the New York Stock Exchange, closing at the 44,000 dollar mark for the first time and hitting a new record high for the second consecutive trading day. This reflects continued expectations for the policies of Donald Trump, who won the US presidential election.
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Prime Minister Ishiba plans to provide more than 10 trillion yen in public support to the AI and semiconductor industry over seven years
2024-11-12 07:03:00
Prime Minister Ishiba has announced a policy to establish a new framework to provide more than 10 trillion yen in public support over the seven years up to fiscal 2030 in order to support the domestic AI and semiconductor industries. The aim is to attract investment from the private sector, but as it will mean continuing to provide huge amounts of support to specific industries, the appropriateness and effectiveness of this plan is likely to be severely questioned.
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Developing train control system for small and medium-sized regional railway operators
2024-11-12 06:53:00
Railway operators across the country, which have loss-making routes, are facing management issues such as maintaining facilities and securing human resources. The Ministry of Land, Infrastructure, Transport and Tourism has decided to develop a new train control system that does not require large-scale equipment and encourage each operator to introduce it.
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October Economy Watchers Survey: Lower than previous month for second consecutive month due to high prices
2024-11-12 06:40:00
Last month's Economy Watchers Survey, which asks working people about their economic feelings, showed that the index showing the current state of the economy was lower than the previous month for the second consecutive month, reflecting factors such as a decline in customer numbers at retail stores and a tendency to be frugal amid rising prices.
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Many believe that the real growth rate of GDP from July to September will remain slightly positive
2024-11-12 06:38:00
The gross domestic product (GDP) for the period from July to September of this year will be announced on the 15th of this month. Many private forecasters predict that the real growth rate will remain slightly positive, due to factors such as a lack of strength in personal consumption.
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