Economic news(2024/12/11)
Financial Services Agency issues report on theft of Mitsubishi UFJ Bank's safe deposit box
2024-12-11 22:48:00
Regarding the case of Mitsubishi UFJ Bank's managerial staff stealing money and valuables from a branch's safe deposit box, the Financial Services Agency has decided to issue a legal demand for the bank to report the incident. The agency is taking seriously the bank's failure to detect the theft in a safe deposit box that is supposed to be under strict management, and is seeking an investigation into the cause.
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U.S. Consumer Price Index rises 2.7% year-on-year in November
2024-12-11 22:46:00
The US Consumer Price Index for last month was announced, showing a 2.7% increase compared to the same month last year. The rate of increase was 0.1 percentage point higher than the previous month. In the US, inflation has been noted to be strong against the backdrop of robust personal consumption, and attention is focused on the pace at which the Federal Reserve Board will continue to lower interest rates.
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Bain Capital intends to raise price for Fujisoft TOB
2024-12-11 21:17:00
Two investment funds have proposed to acquire the software giant Fujisoft, and one of them, Bain Capital, has revealed its intention to raise the price of its tender offer (TOB) from the initial price. The price is higher than that of the other fund that had already made a TOB, and the battle for the company has intensified.
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Japan Automobile Workers' Union to demand 12,000 yen wage increase in 2025 spring labor offensive
2024-12-11 20:31:00
The Japan Automobile Workers' Union, an association made up of labor unions of automakers and other companies, has proposed a policy in which each of its member labor unions will decide on a specific amount for their demands for wage increases equivalent to a base pay increase in next year's spring labor offensive, with a target of 12,000 yen per month.
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Biden formally intends to block US Steel acquisition plan: US reports
2024-12-11 20:16:00
Local media reported that President Biden intends to formally block Nippon Steel's plan to acquire U.S. Steel, a major American steel manufacturer. Nippon Steel says it will continue to pursue the acquisition and will consider all possible measures, including legal action.
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Japan-China CEO Summit: Keidanren Chairman emphasizes strengthening cooperation in the economic field
2024-12-11 19:44:00
The Japan-China CEO Summit, where Japanese and Chinese business leaders exchange views, was held in Beijing on the 11th, and Keidanren Chairman Tokura emphasized the importance of strengthening cooperation between Japan and China in the economic field.
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Nissan announces personnel changes, including replacement of CFO, to turn around business amid deteriorating performance
2024-12-11 18:36:00
Nissan Motor Co., Ltd., whose business performance has been deteriorating, has announced personnel changes, including replacing its CFO (Chief Financial Officer) in an effort to turn things around.
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Yen exchange rate moves slightly, trading is muted ahead of CPI announcement
2024-12-11 18:18:00
On the Tokyo foreign exchange market on the 11th, the yen fluctuated little as many investors refrained from active trading ahead of the release of the US Consumer Price Index.
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Tax reform adjusts corporate tax rates for small and medium-sized enterprises by extending them for two years
2024-12-11 17:39:00
In next year's tax reform, the government and ruling parties are planning to extend for two years the current preferential treatment that keeps corporate tax rates low for small and medium-sized enterprises, while reducing the preferential treatment for companies with income exceeding 1 billion yen.
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An exhibition of the latest technologies and materials, including robots equipped with semiconductors for generative AI
2024-12-11 17:23:00
An exhibition showcasing the latest semiconductor-related technologies and materials began on the 11th, and features robots equipped with semiconductors for generative AI and the latest manufacturing equipment.
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An exhibition of the latest semiconductor-related technologies and materials, including robots for generative AI
2024-12-11 16:57:00
An exhibition showcasing the latest semiconductor-related technologies and materials began on the 11th, and features robots equipped with semiconductors for generative AI and the latest manufacturing equipment.
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Stock prices: Small price movements, movement to buy back fallen stocks
2024-12-11 16:40:00
On the Tokyo stock market on the 11th, there was a move to buy back stocks that had fallen in price in the afternoon, and the Nikkei average stock price fluctuated slightly.
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Nippon Life Insurance announces acquisition of foreign-affiliated company operating in Europe, the US, etc. for approximately 1.2 trillion yen
2024-12-11 15:55:00
Nippon Life Insurance Co. has announced that it will acquire a foreign company that operates insurance businesses in Europe, the United States, and other countries for approximately 1.2 trillion yen. This will be the largest acquisition by a Japanese insurance company, with the aim of strengthening its overseas business amid an expected shrinkage of the domestic market due to a declining population.
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Biden formally intends to block US Steel acquisition plan: US reports
2024-12-11 15:28:00
Local media reported that President Biden intends to formally block Nippon Steel's plan to acquire U.S. Steel, a major American steel manufacturer. Nippon Steel says it will continue to pursue the acquisition and will consider all possible measures, including legal action.
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Honda cancels self-driving taxi service planned with GM
2024-12-11 15:24:00
Honda has decided to cancel a self-driving taxi service that it had planned to launch in Japan two years' time in collaboration with General Motors, following GM's decision to withdraw from the fully self-driving taxi business.
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Alicia Clinic, the medical hair removal company, begins bankruptcy proceedings
2024-12-11 15:03:00
The operating corporation of "Alicia Clinic," which operates more than 40 medical hair removal clinics across the country, has run into financial difficulties and received a court order to start bankruptcy proceedings. It is estimated that more than 90,000 customers and others will be affected.
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GM withdraws from self-driving "robo-taxi" business due to intensifying competition
2024-12-11 13:49:00
General Motors, a major American automaker, has announced that it will withdraw from the self-driving taxi, or "robo-taxi," business, citing increasing competition in the market and high development costs as the reason.
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Stock prices fall Sell orders for related stocks due to US-China conflict over semiconductors
2024-12-11 12:27:00
On the Tokyo Stock Exchange on the 11th, the Nikkei average fell as sell orders were placed on related stocks due to the conflict between the United States and China over semiconductors.
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Nippon Life Insurance announces acquisition of foreign-affiliated company operating in Europe, the US, etc. for approximately 1.2 trillion yen
2024-12-11 12:19:00
Nippon Life Insurance Co. has announced that it will acquire a foreign company that operates insurance businesses in Europe, the United States, and other countries for approximately 1.2 trillion yen. This will be the largest acquisition by a Japanese insurance company, with the aim of strengthening its overseas business amid an expected shrinkage of the domestic market due to a declining population.
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Tokyo Metropolitan Government starts "Up to 10% points return with 2D code payment"
2024-12-11 11:55:00
As a measure to combat rising prices, a campaign began on the 11th at supermarkets and other locations in Tokyo in which up to 10% of the amount paid using 2D code payments will be returned as points.
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Index showing business confidence of large companies: +5.7 points, up for third consecutive quarter
2024-12-11 11:32:00
According to the Corporate Economic Forecast Survey released by the Ministry of Finance and others, the index showing the business outlook of large companies from October to December this year was positive for the third consecutive quarter, due in part to active investment in digitalization among companies and improved economic outlook in the information and communications industry.
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Saizeriya suffers cyber attack, leaking 60,000 personal details
2024-12-11 11:19:00
The restaurant chain Saizeriya has announced that its internal servers were attacked by cyberattacks, resulting in the possible leak of approximately 60,000 pieces of personal information about employees, business partners, and others.
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Corporate Price Index in November increased 3.7% year-on-year
2024-12-11 10:47:00
The Corporate Price Index (CGPI), which indicates the prices of goods traded between companies, rose 3.7% in November compared to the same month last year, due in part to rising prices of rice and aluminum.
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Index showing business confidence of large companies: +5.7 points, up for third consecutive quarter
2024-12-11 09:10:00
According to the "Corporate Economic Outlook Survey" released by the Ministry of Finance and other organizations, the index showing the business confidence of large companies from October to December this year was up 5.7 points, marking the third consecutive quarter of positive growth. The manufacturing industry was up 6.3 points, and the non-manufacturing industry was up 5.4 points.
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Corporate Price Index in November increased 3.7% year-on-year
2024-12-11 09:00:00
The Corporate Price Index, which shows the prices of goods traded between companies, rose 3.7% in November compared to the same month last year, up from 3.6% in October.
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Bank of Japan Tankan: Economic outlook for large manufacturing companies may worsen somewhat - Private research company
2024-12-11 06:03:00
With regard to the Bank of Japan's Tankan (Short-term Economic Survey of Enterprises) to be released this week, many private research companies are predicting that the economic outlook of large companies and manufacturers will be somewhat worse than the previous one. As for the outlook for the future, the focus is on how companies will view the impact of the policies put forward by the next US President Trump.
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Oyster farming trials begin in Hachinohe Port, Aomori, by local fishermen
2024-12-11 05:44:00
As fish landings at Hachinohe Port in Aomori Prefecture continue to decline, local fishing associations and others have begun full-scale trials of oyster farming.
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Number of dairy farmers nationwide falls below 10,000 for the first time, says Ministry of Agriculture, Forestry and Fisheries "Decline in income may be the cause"
2024-12-11 05:20:00
A survey by a producers' group revealed that the number of dairy farmers nationwide fell below 10,000 for the first time. The Ministry of Agriculture, Forestry and Fisheries believes that one of the reasons for this is a decrease in income due to rising feed prices, and is considering a system that will make it easier to pass on increased costs to prices.
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One year of mandatory testing for "white license plates" - Drinking detection "burden reduction" service
2024-12-11 05:03:00
It has been a year since breathalyzer tests were made mandatory for businesses using so-called "white license plate" vehicles, but record keeping and a shortage of manpower remain issues. In the midst of this, a new service is being developed to reduce the burden of testing.
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