Economic news(2024/11/29)
LINE Album feature has glitches: "We want to resolve this by the morning of the 30th"
2024-11-29 21:50:00
LINE Yahoo! has revealed that a bug has occurred in the album function for saving LINE images, where images from other users are displayed as "thumbnails" that represent the contents of the album. The company is working on correcting the system and hopes to have the bug resolved by the morning of the 30th.
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How long will high vegetable and egg prices continue?
2024-11-29 20:13:00
The Ministry of Agriculture, Forestry and Fisheries has announced its December forecast for vegetable prices, which continue to be high. Wholesale egg prices are also continuing to rise. How long will this continue? We interviewed experts and people at the scene in various regions.
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Government and ruling party to postpone concrete decision on review of income tax on retirement benefits system
2024-11-29 19:59:00
With regard to next year's tax reform, the government and ruling parties have decided to postpone drawing any concrete conclusions regarding the revision of the current income tax system on retirement benefits, which reduces the tax burden the longer one's years of service.
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Shiseido to turn around struggling Chinese business, "not chasing sales volume"
2024-11-29 19:27:00
Shiseido, a major cosmetics manufacturer whose performance has deteriorated due to a slump in its Chinese business, has announced that in order to turn its management around, it will select and focus on its brands over the next two years and will no longer pursue sales volume in its Chinese business, but will instead focus on revitalizing it.
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How long will high vegetable and egg prices continue?
2024-11-29 19:09:00
The Ministry of Agriculture, Forestry and Fisheries has announced its December forecast for vegetable prices, which continue to be high. Wholesale egg prices are also continuing to rise. How long will this continue? We interviewed experts and people at the scene in various regions.
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Nippon Television Network HD's four affiliated companies to merge under a holding company in April next year
2024-11-29 19:05:00
Nippon Television Holdings announced that its four affiliated companies, Sapporo Television, Chukyo Television, Yomiuri Television, and Fukuoka Broadcasting, will merge under a holding company in April next year.
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Shiseido to turn around struggling Chinese business, "not chasing sales volume"
2024-11-29 18:59:00
Shiseido, a major cosmetics manufacturer whose performance has deteriorated due to a slump in its Chinese business, has announced that in order to turn its management around, it will select and focus on its brands over the next two years and will no longer pursue sales volume in its Chinese business, but will instead focus on revitalizing it.
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Government decides on this year's supplementary budget proposal, totaling 13.9 trillion yen for general account
2024-11-29 18:53:00
The government has approved a supplementary budget for this fiscal year, which will underpin new economic measures. The general account budget will total approximately 13.9 trillion yen, and an additional 6.6 trillion yen in government bonds will be issued to cover the costs.
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Toshiba plans to cut staff numbers by 3,500 in Japan through early retirement and reassignment
2024-11-29 18:39:00
Toshiba, which has indicated a policy of large-scale personnel reduction in order to improve management efficiency, has announced that approximately 3,500 employees in Japan will apply for early retirement or be redeployed to group companies.
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The yen temporarily rose to the 149 yen range against the dollar for the first time in about a month.
2024-11-29 18:26:00
On the 29th in the Tokyo foreign exchange market, the yen was bought on growing expectations that the Bank of Japan might implement an additional interest rate hike as early as December, and the yen temporarily rose to the 149 yen range against the dollar for the first time in about a month.
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Oriental Land Cruise Ships Reaches Agreement with Tokyo Metropolitan Government to Use Tokyo Port as Departure and Arrival Base
2024-11-29 18:06:00
Oriental Land Co., which operates Tokyo Disneyland and other attractions, has reached an agreement with the Tokyo Metropolitan Government to use Tokyo Port as the main departure and arrival point for cruise ships scheduled to begin service in fiscal 2028.
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Nippon Television Network HD's four affiliated companies to merge under a holding company in April next year
2024-11-29 17:59:00
Nippon Television Holdings announced that its four affiliated companies, Sapporo Television, Chukyo Television, Yomiuri Television, and Fukuoka Broadcasting, will merge under a holding company in April next year.
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Toshiba acquisition fund also participates in bid for Seven & i intermediate holding company shares
2024-11-29 17:57:00
It has been revealed that the Japanese investment fund that acquired Toshiba last year has participated in the bidding for the partial sale of a company that bundles businesses other than convenience stores, which Seven & i Holdings is currently promoting. A major Japanese trading company and several American funds have also put their names forward in the bidding, making it a competition between major players both in Japan and overseas.
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Total number of domestic overnight guests in October reached 60.11 million, the highest number ever for the month of October
2024-11-29 17:57:00
According to the Japan Tourism Agency, preliminary figures show that a total of 60.11 million people stayed in hotels, inns, and other accommodations across Japan last month, 7.1% higher than the same month last year and the highest number ever for October.
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Government decides on this year's supplementary budget proposal, totaling 13.9 trillion yen for general account
2024-11-29 17:49:00
The government has approved a supplementary budget for this fiscal year, which will underpin new economic measures. The general account budget will total approximately 13.9 trillion yen, and an additional 6.6 trillion yen in government bonds will be issued to cover the costs.
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Safe haven "gold" hits historic high - should we be happy about it? Or not? [Economics column]
2024-11-29 17:46:00
Gold is highly valuable and has a history of being used as a currency. As it is a "physical asset" that actually exists, it has a high degree of credibility and is a prime example of a "safe asset" in financial markets. The price of gold has been rising particularly notably recently. This safe asset continues to reach new highs. When we look into the background, we find reasons that are no cause for celebration... (Mineta Tomoyuki, Economics Department)
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Mitsubishi UFJFG decides to make emerging company "WealthNavi" a wholly owned subsidiary
2024-11-29 17:37:00
Mitsubishi UFJ Financial Group has decided to make a startup company that provides services to automate investment and management of financial products into a wholly owned subsidiary. As more people start investing, there has been a rise in collaboration between large companies and startups that specialize in fintech, which combines finance and technology.
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Nippon Television Network HD's four affiliated companies to merge under a holding company in April next year
2024-11-29 17:11:00
Nippon Television Holdings announced that its four affiliated companies, Sapporo Television, Chukyo Television, Yomiuri Television, and Fukuoka Broadcasting, will merge under a holding company in April next year. The holding company, Yomiuri Chukyo FS Holdings, will be established, and Nippon Television Holdings will hold more than 20% of its shares.
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Stock prices fall slightly. Strong yen and weak dollar lead to sell orders for export-related stocks
2024-11-29 16:27:00
On the 29th, the Tokyo stock market saw the Nikkei average fall slightly as export-related stocks and other stocks were sold due to the yen's strengthening against the dollar in the foreign exchange market.
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LINE Album function malfunctions Thumbnails not displayed correctly
2024-11-29 16:11:00
LINE Yahoo has revealed that there has been a glitch in the album function for saving LINE images, resulting in a number of cases where the "thumbnails" that represent the contents of the images are not displayed correctly.
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Nuclear power generation costs to be reduced due to accident response costs, METI says
2024-11-29 16:08:00
As discussions on revising the nation's Basic Energy Plan reach a climax, the Ministry of Economy, Trade and Industry stated at a council meeting held on the 29th that the risk of serious accidents has been reduced by safety measures at each nuclear power plant, and that the costs of responding to accidents to be factored into the cost of generating nuclear power could be reduced from current levels.
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Rising vegetable prices may calm down around the second half of December Egg prices also on the rise
2024-11-29 15:13:00
Regarding the rise in prices of vegetables such as cabbage and tomatoes, Minister of Agriculture, Forestry and Fisheries Eto expressed the view at a press conference on the 29th that the prices will likely stabilize around the latter half of December, when the production areas for these vegetables will change.
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Rising vegetable prices may calm down around the second half of December Egg prices also on the rise
2024-11-29 14:06:00
Regarding the rise in prices of vegetables such as cabbage and tomatoes, Minister of Agriculture, Forestry and Fisheries Eto expressed the view at a press conference on the 29th that the prices will likely stabilize around the latter half of December, when the production areas for these vegetables will change.
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Mitsubishi UFJFG to make start-up a wholly owned subsidiary
2024-11-29 13:00:00
Mitsubishi UFJ Financial Group has decided to make a startup company that provides services to automate investment and management of financial products into a wholly owned subsidiary. As more people start investing, there has been a rise in collaboration between large companies and startups that specialize in fintech, which combines finance and technology.
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Fuji Electric and Denso to receive subsidies of up to 70 billion yen for power semiconductor collaboration
2024-11-29 12:36:00
The Ministry of Economy, Trade and Industry has announced that it will provide subsidies of up to 70 billion yen to support collaboration between Fuji Electric and Denso in the field of power semiconductors used in electric vehicles (EVs).
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Stock prices fall slightly. Strong yen and weak dollar lead to sell orders for export-related stocks
2024-11-29 12:23:00
On the 29th, the Tokyo stock market saw the Nikkei average fall slightly as export-related stocks and other stocks were sold due to the yen's strengthening against the dollar in the foreign exchange market.
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This year's national civil servant salaries: Starting salaries for both university and high school graduates to be raised by more than 20,000 yen
2024-11-29 12:07:00
Regarding the salaries of national civil servants this fiscal year, the government has decided to raise the starting salaries of both university and high school graduates by more than 20,000 yen, in line with the recommendation of the National Personnel Authority. This will be the first time that the salary increase will exceed 20,000 yen, and will be the largest increase ever.
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The yen continues to appreciate, temporarily reaching the 149 yen range per dollar
2024-11-29 11:46:00
On the 29th in the Tokyo foreign exchange market, the yen was bought on growing expectations that the Bank of Japan might implement an additional interest rate hike as early as next month, and the yen temporarily rose to the 149 yen range against the dollar for the first time in about a month.
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Toshiba acquisition fund also participates in bid for Seven & i intermediate holding company shares
2024-11-29 11:38:00
It has been revealed that the Japanese investment fund that acquired Toshiba last year has participated in the bidding for the partial sale of a company that bundles businesses other than convenience stores, which Seven & i Holdings is currently promoting. A major Japanese trading company and several American funds have also put their names forward in the bidding, making it a competition between major players both in Japan and overseas.
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October industrial production index increased 3% from the previous month, marking the second consecutive month of increase
2024-11-29 11:27:00
The October industrial production index, which indicates corporate production activity, rose for the second consecutive month due to increased production of semiconductor manufacturing equipment and automobiles.
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The yen continues to appreciate, temporarily reaching the 149 yen range per dollar
2024-11-29 11:07:00
On the 29th, the yen strengthened against the dollar in the Tokyo foreign exchange market, temporarily rising to the 149 yen range for the first time in about a month. The November consumer price index increase rate for Tokyo's 23 wards, announced on the morning of the 29th, exceeded market expectations, strengthening the view that the Bank of Japan may further raise interest rates in December, leading to a trend of buying yen and selling dollars.
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October industrial production index increased 3% from the previous month, marking the second consecutive month of increase
2024-11-29 09:10:00
The October index of industrial production, which indicates corporate production activity, was 104.3, with 2020 as the base year of 100, up 3% from the previous month. This is the second consecutive month of increase, and the Ministry of Economy, Trade and Industry has maintained its assessment of corporate production activity as "advancing and retreating."
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Seven & i Holdings to narrow down buyers for intermediate holding company stock bid
2024-11-29 02:07:00
As part of its restructuring, Seven & i Holdings is looking to sell some of its shares in an intermediate holding company that manages businesses other than convenience stores, and it has been revealed that major trading company Sumitomo Corp. and two American investment funds have participated in the bid. There are also believed to be other parties taking part in the bid, and Seven & i plans to narrow down the buyers.
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