Economic news(2025/01/14)
Former Mitsubishi UFJ Bank employee arrested on suspicion of theft in safe deposit box theft case
2025-01-14 22:03:00
In a case where over 1 billion yen worth of valuables were stolen from Mitsubishi UFJ Bank's safe deposit box, the Metropolitan Police Department arrested a 46-year-old former branch manager on suspicion of theft for allegedly stealing approximately 20 kilograms of gold bars, worth 260 million yen, from the safe deposit box. The Metropolitan Police Department believes that the money was taken to pawn shops, converted into cash, and used for investment, and will be investigating the details of the incident.
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President Biden to speed up construction of data centers essential for AI utilization
2025-01-14 21:25:00
The White House announced that President Biden has signed an executive order to rapidly develop data centers, which are essential for the use of AI (artificial intelligence).
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Long-term interest rates: Government bond yields rise to 1.250%, highest level in 13 years and 9 months
2025-01-14 21:04:00
In the bond market on the 14th, the yield on 10-year government bonds, a representative indicator of long-term interest rates, rose to 1.250% in afternoon trading. This is the highest level in 13 years and 9 months since April 2011. ▼The US employment statistics released on the 10th of last week exceeded market expectations, which led to speculation that the pace of interest rate cuts by the Federal Reserve Board would slow down, causing a rise in US long-term interest rates. ▼There is also speculation that the Bank of Japan may soon implement additional interest rate hikes, which has led to an intensified sell-off of Japanese government bonds, causing long-term interest rates to rise.
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Former Mitsubishi UFJ Bank employee arrested on suspicion of theft in safe deposit box theft case
2025-01-14 20:40:00
In a case where over 1 billion yen worth of valuables were stolen from Mitsubishi UFJ Bank's safe deposit box, the Metropolitan Police Department arrested a 46-year-old former branch manager on suspicion of theft for allegedly stealing approximately 20 kilograms of gold bars, worth 260 million yen, from the safe deposit box. The Metropolitan Police Department believes that the money was taken to pawn shops, converted into cash, and used for investment, and will be investigating the details of the incident.
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AEON Bank president and others dismissed, ordered to improve business practices due to anti-money laundering measures
2025-01-14 20:23:00
Aeon, whose subsidiary bank received an order to improve business practices from the Financial Services Agency last month for failing to implement measures to prevent money laundering, the cleaning of funds obtained through crime, announced on the 14th that it had dismissed the president and other executives to clarify responsibility.
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Former Mitsubishi UFJ Bank employee arrested on suspicion of theft in safe deposit box theft case
2025-01-14 19:49:00
In a case where over 1 billion yen worth of valuables were stolen from Mitsubishi UFJ Bank's safe deposit box, the Metropolitan Police Department arrested a 46-year-old former branch manager on suspicion of theft for allegedly stealing approximately 20 kilograms of gold bars, worth 260 million yen, from the safe deposit box. The Metropolitan Police Department believes that the money was taken to pawn shops, converted into cash, and used for investment, and will be investigating the details of the incident.
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Kyoto City plans to raise accommodation tax cap to 10,000 yen per night
2025-01-14 19:27:00
Kyoto City Mayor Matsui has announced a plan to raise the maximum amount of the "accommodation tax" collected from guests staying at hotels and inns from the current 1,000 yen per night to 10,000 yen. This is the highest amount among local governments that have introduced a flat-rate accommodation tax, and the mayor hopes to use the money for measures to prevent people from falling off subway platforms and to alleviate congestion at Kyoto Station.
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Mitsubishi UFJ Bank: Former employee arrested on suspicion of theft from safe deposit box
2025-01-14 19:13:00
In a case where over 1 billion yen worth of valuables were stolen from Mitsubishi UFJ Bank's safe deposit box, the Metropolitan Police Department obtained an arrest warrant for a 46-year-old former bank employee on suspicion of theft for allegedly stealing 20 kilograms of gold bars, worth 260 million yen, from the safe deposit box. It is believed that the stolen gold bars were taken to pawn shops and other places to be converted into cash and used for investment, and the details of the case will be investigated.
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"TikTok considering selling US business to Musk" - US media
2025-01-14 19:09:00
As a law banning the video-sharing app TikTok in the United States is set to come into effect on the 19th of this month, American media has reported that the Chinese government, which is said to have influence over TikTok's parent company, is considering selling the app's American business to businessman Elon Musk.
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Mixi President Kimura apologizes for subsidiary's misconduct and voluntarily gives up part of his salary
2025-01-14 18:25:00
In response to the issue of CEOs of MIXI subsidiaries receiving inappropriate funds, MIXI President Hiroki Kimura apologized at the company's financial results briefing on the 14th and announced that the company would voluntarily return part of its compensation.
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The yen has risen slightly
2025-01-14 18:19:00
On the Tokyo foreign exchange market on the 14th, the first day after the holidays, the yen rose slightly, continuing the trend of the yen strengthening against the dollar that had been seen in the New York market since the end of last week.
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Tottori prefecture to define doctored sexual images, including photos of children, as child pornography
2025-01-14 18:05:00
Regarding "sexual deepfakes," in which photos of children in yearbooks or on social media are used to create sexually explicit images and videos using AI technology, Tottori Prefecture Governor Hirai has made clear his intention to amend the prefecture's Youth Healthy Development Ordinance to define it as "child pornography" and make it subject to crackdowns.
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December Economy Watchers Survey improves for second consecutive month, year-end sales boost retail sales
2025-01-14 17:59:00
Last month's Economy Watchers Survey, which asks workers about their economic perceptions, showed that the index showing the current state of the economy improved from the previous month for the second consecutive month, due in part to strong performance in the retail industry during the year-end sales season.
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Nippon Life Insurance Chairman Tsutsui to succeed Keidanren Chairman Tokura
2025-01-14 17:55:00
The Japan Business Federation has decided to appoint Yoshinobu Tsutsui, chairman of Nippon Life Insurance, a major life insurance company, as the successor to Chairman Tokura, whose term ends in May.
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Tokio Marine Holdings President Koike, 53, promoted to youngest president in major financial company
2025-01-14 16:36:00
Tokio Marine Holdings, a major non-life insurance company, has announced that it will promote Managing Director Masahiro Koike to president. At 53 years old, Koike will be the youngest person to head a major financial institution.
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Last year, the number of bankruptcies nationwide was over 9,900, up 16% from the previous year, the highest level in 11 years.
2025-01-14 16:27:00
The number of companies that went bankrupt nationwide last year was over 9,900, an increase of about 16% from the previous year. Bankruptcies are on the rise due to rising prices and labor shortages, and the number is at an 11-year high.
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Bank of Japan Deputy Governor Himino: Additional interest rate hike "will be discussed at next week's meeting"
2025-01-14 16:25:00
In a speech in Yokohama on the 14th, Bank of Japan Deputy Governor Himino expressed the view that strong results can be expected regarding corporate wage hikes, and said, "I would like to discuss and decide whether to raise interest rates at next week's monetary policy meeting," indicating his recognition that the environment is gradually being created for additional interest rate hikes.
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Stock prices temporarily fall by more than 800 yen. Sell orders for semiconductor-related stocks, etc.
2025-01-14 15:56:00
On the 14th, the first day back from the holidays, the Tokyo stock market saw a drop of more than 800 yen in the Nikkei average as sell orders spread in semiconductor-related stocks and other stocks following the US announcement of new restrictions on exports of advanced semiconductors, which was seen as having an impact on Japanese companies as well.
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Ehime receives a flurry of inquiries from the U.S. about importing yellowtail before tariff hikes
2025-01-14 15:40:00
A fishery company in Ehime Prefecture that exports yellowtail to the United States has been receiving a flood of order inquiries from the United States as people try to import them before tariffs are raised ahead of Trump's inauguration as president, and is unable to keep up with supply.
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Bank of Japan Deputy Governor Himino: Additional interest rate hike "will be discussed at next week's meeting"
2025-01-14 15:26:00
In a speech in Yokohama on the 14th, Bank of Japan Deputy Governor Himino expressed the view that strong results can be expected regarding corporate wage hikes, and said, "I would like to discuss and decide whether to raise interest rates at next week's monetary policy meeting," indicating his recognition that the environment is gradually being created for additional interest rate hikes.
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Government confirms plan to further strengthen oversight of public-private funds with accumulated deficits
2025-01-14 15:25:00
Regarding the issue of JOIN, a public-private fund that supports the overseas expansion of infrastructure, posting a large deficit in its financial statements for last year, the government confirmed at a meeting of relevant cabinet members held on the 14th its intention to further strengthen oversight of the public-private fund, which is running into an accumulated deficit.
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"TikTok considering selling US business to Musk" - US media
2025-01-14 14:11:00
As a law banning the video-sharing app TikTok in the United States is set to come into effect on the 19th of this month, American media has reported that the Chinese government, which is said to have influence over TikTok's parent company, is considering selling the app's American business to businessman Elon Musk.
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[Press conference live broadcast] Deputy Governor of the Bank of Japan, Mr. Himino
2025-01-14 14:04:00
In a speech in Yokohama on the 14th, Bank of Japan Deputy Governor Himino expressed the view that strong results can be expected regarding corporate wage hikes, and said, "I would like to discuss and decide whether to raise interest rates at next week's monetary policy meeting," indicating his recognition that the environment is gradually being created for additional interest rate hikes.
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Agriculture Minister Eto to visit China tomorrow to exchange views on resuming seafood imports
2025-01-14 12:55:00
Minister of Agriculture, Forestry and Fisheries Eto will visit China from the 15th to meet with Minister of Agriculture and Rural Affairs Han Jun and others to exchange views on issues such as the resumption of imports of Japanese seafood products.
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Bank of Japan Deputy Governor Himino: "Additional interest rate hike to be discussed and decided at next week's meeting"
2025-01-14 12:32:00
In a speech in Yokohama on the 14th, Bank of Japan Deputy Governor Himino expressed the view that strong results can be expected regarding corporate wage hikes, and said, "I would like to discuss and decide whether to raise interest rates at next week's monetary policy meeting," indicating his recognition that the environment is gradually being created for additional interest rate hikes.
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LDP Secretary-General visits China to seek resolution of pending issues, including resumption of seafood imports
2025-01-14 12:31:00
The Japan-China Ruling Party Exchange Council, an inter-party exchange between the Liberal Democratic Party, the Komeito Party and the Communist Party of China, was held in China for the first time in seven years. LDP Secretary-General Moriyama called on the Chinese side to take measures to resolve outstanding issues, such as resuming imports of Japanese seafood products as soon as possible, in order to improve Japan-China relations.
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US Steel may be acquired by major US steel maker US media
2025-01-14 12:23:00
American media has reported that Cleveland-Cliffs, a major American steel manufacturer, may cooperate with another American steel manufacturer to acquire U.S. Steel, which Nippon Steel is aiming to acquire.
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Stock prices temporarily fall by more than 800 yen, with selling orders centered on semiconductor-related stocks
2025-01-14 11:53:00
On the Tokyo Stock Exchange on the 14th, the first day after the long holiday, sell orders spread, especially in semiconductor-related stocks, and the Nikkei average temporarily fell by more than 800 yen in the morning.
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METI Minister meets with Saudi Arabian eSports Federation Chairman to agree on technical cooperation
2025-01-14 11:28:00
During his visit to Saudi Arabia, Minister Muto met with the chairman of the local esports federation and agreed that Japan will also cooperate in the development of Saudi Arabia's gaming industry in areas such as technology and human resource development.
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Long-term interest rates: Government bond yields rise to 1.245%, highest level in 13 years and 9 months
2025-01-14 11:27:00
In the morning trading on the bond market on the 14th, the yield on 10-year government bonds, which is a representative indicator of long-term interest rates, rose to 1.245%, the highest level in 13 years and 9 months since April 2011.
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US Steel may be acquired by major US steel maker US media
2025-01-14 11:21:00
American media has reported that Cleveland-Cliffs, a major American steel manufacturer, may cooperate with another American steel manufacturer to acquire U.S. Steel, which Nippon Steel is aiming to acquire.
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Stock price falls by over 800 yen, with selling orders focused on semiconductor-related stocks
2025-01-14 11:11:00
On the 14th, the Tokyo Stock Exchange after the long holiday, the Nikkei average fell by more than 800 yen. In addition to the drop in the Nasdaq Stock Index, which is dominated by high-tech stocks, on the 13th in the New York market, the Biden administration in the United States announced a new proposal to regulate exports of cutting-edge semiconductors for AI, and sell orders are spreading in the Tokyo market, mainly for semiconductor-related stocks.
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November current account surplus of 3.3525 trillion yen, the largest surplus for November
2025-01-14 11:01:00
Japan's current account balance, which shows how much it earned through trade and investment with other countries, was in the black for November last year, at 3.3525 trillion yen. This is the 22nd consecutive month of surpluses, and the main factor was an increase in exports of semiconductor manufacturing equipment and other products.
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Long-term interest rates: Government bond yields rise to 1.240%, highest level in 13 years and 9 months
2025-01-14 10:09:00
In the morning trading on the bond market on the 14th, the yield on 10-year government bonds, which is a representative indicator of long-term interest rates, rose to 1.240%, the highest level in 13 years and 9 months since April 2011.
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Auto parts manufacturers accelerate technological development to improve vehicle safety and comfort
2025-01-14 06:03:00
As the race to develop software to improve vehicle safety and comfort intensifies, technological development is also accelerating among auto parts manufacturers.
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US Steel may be acquired by major US steel maker US media
2025-01-14 05:47:00
American media has reported that Cleveland-Cliffs, a major American steel manufacturer, may cooperate with another American steel manufacturer to acquire U.S. Steel, which Nippon Steel is aiming to acquire.
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JR East to revise timetable for some Azusa express trains to depart from Tokyo Station in March
2025-01-14 05:14:00
With the timetable change in March this year, JR East will change the departure and arrival stations of some limited express trains on the Chuo Line and Joban Line to Tokyo Station or Shinagawa Station. JR says this will make it easier to transfer from the Shinkansen and other lines, improving convenience.
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Corporate recruitment activity: Seller's market favoring students expected to continue; number of hires to increase next spring
2025-01-14 04:45:00
Due to the labor shortage, companies are expected to continue to face a seller's market in favor of students this year as well. When asked about the number of university students and others who will be graduating next year (spring 2026) to be hired, many companies, especially large corporations, answered that they plan to increase the number of hires.
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Expanded support for energy-efficient homes: Subsidy to be increased to 1.6 million yen per home
2025-01-14 04:40:00
In order to promote decarbonization of homes, the Ministry of Land, Infrastructure, Transport and Tourism and the Ministry of the Environment have expanded support measures for homes with high energy-saving performance, and from the new fiscal year, they have increased subsidies for particularly high-performance homes to 1.6 million yen per home.
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