Economic news(2025/05/09)
SBIHD President Kitao: "Fuji TV CEO Yoshiaki Murakami also collaborates with his eldest daughter"
2025-05-09 22:44:00
Regarding the next management structure of Fuji Television's parent company, SBI Holdings President Yoshitaka Kitao, who is a candidate for director independently proposed by a major shareholder investment fund, said at a press conference held on the 9th about the eldest daughter of Yoshiaki Murakami of the former Murakami Fund, which is a major shareholder, "We would like to fully cooperate in any way we can," hinting at the possibility of cooperation.
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Sumitomo Mitsui Financial Group to invest in Indian commercial bank to capitalize on huge market growth
2025-05-09 22:03:00
Sumitomo Mitsui Financial Group, a major financial group, has decided to invest approximately 240 billion yen in an Indian commercial bank. With the outlook for the global economy becoming uncertain due to the Trump administration's tariff measures, the group aims to accelerate business expansion by tapping into the growth of the huge market through collaboration with local banks.
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Osaka District Court partially upholds Toshiba shareholders' compensation claim over accounting fraud
2025-05-09 21:40:00
In a lawsuit filed by 185 individual and former shareholders from the Kansai region and elsewhere against Toshiba, a major electronics manufacturer, and its former management, claiming that they suffered losses due to the company's accounting fraud scandal that came to light in 2015, the Osaka District Court handed down a ruling ordering Toshiba to pay a total of more than 100 million yen in damages. However, the lawsuit against the former management was dismissed.
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Japan Post to check nationwide for falsified special delivery reports at Ginza Post Office
2025-05-09 21:10:00
Japan Post has announced that reports on delivery of mail that requires special qualifications to be handled have been falsified. The company will investigate whether similar practices are occurring at post offices across the country.
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Panasonic Holdings to cut 10,000 jobs at home and abroad as part of group restructuring
2025-05-09 21:01:00
Panasonic Holdings has announced plans to cut 10,000 jobs, or about 5% of its total workforce, as part of a restructuring of the group.
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President Trump: 80% tariffs on China seem right
2025-05-09 21:00:00
On the 9th, US President Trump posted on his social media, "China should open their markets to the US. It would be good for them. Closed markets don't work anymore," and added, "80% tariffs on China seem right. It's up to Treasury Secretary Bessent." As trade friction between the US and China intensifies, talks between high-ranking officials from the US and China are scheduled to begin in Switzerland on the 10th to discuss trade issues.
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The strange phenomenon spreads
2025-05-09 20:39:00
In early May, when the Japanese market was closed for the Golden Week holiday, a rare and unusual event occurred in the foreign exchange market. The Trump administration's policies and the various speculations surrounding them... the chain of events in the stock, bond and foreign exchange markets... has not stopped. There are also signs that the yen exchange rate may see a "biased movement." We consider scenarios on how this giant magma will move. (Saito Mitsutaka, Economics Department)
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Major machinery manufacturers consider response to shipbuilding technical cooperation proposal amid tariff measures
2025-05-09 20:09:00
In the Japan-U.S. negotiations over tariff measures imposed by the Trump administration, the Japanese side has presented proposals such as technical cooperation in the shipbuilding sector as one way to extract concessions. A major machinery manufacturer with a shipbuilding business has decided to consider its response depending on the progress of the negotiations.
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Panasonic Holdings to cut 10,000 jobs at home and abroad as part of group restructuring
2025-05-09 19:41:00
Panasonic Holdings has announced plans to cut 10,000 jobs, or about 5% of its total workforce, as part of a restructuring of the group.
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Major machinery manufacturers consider response to shipbuilding technical cooperation proposal amid tariff measures
2025-05-09 19:03:00
In the Japan-U.S. negotiations over tariff measures imposed by the Trump administration, the Japanese side has presented proposals such as technical cooperation in the shipbuilding sector as one way to extract concessions. A major machinery manufacturer with a shipbuilding business has decided to consider its response depending on the progress of the negotiations.
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Panasonic Holdings to cut 10,000 jobs at home and abroad as part of group restructuring
2025-05-09 18:41:00
Panasonic Holdings has announced plans to cut 10,000 jobs, or about 5% of its total workforce, as part of a restructuring of the group.
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Tokio Marine & Nichido Fire Insurance Co., Ltd. disciplines president and 13 other executives for leaking customer information
2025-05-09 18:30:00
Tokio Marine & Nichido Fire Insurance, a major non-life insurance company, has announced that it will reduce the compensation of 13 executives, including President Hiroaki Shirota, in response to an issue in which an employee seconded to a so-called shared agency leaked customer information of a rival company to the company.
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Government-owned shares in Shoko Chukin Bank sold in third bidding, privatization process underway
2025-05-09 18:28:00
The government-affiliated financial institution Shoko Chukin Bank, which aims to be privatized by June of this year, won all of its shares in the third round of bidding held last month. The privatization process will be completed by the middle of next month.
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Tokyo Shibuya Station redevelopment project completion date postponed by 7 years to 2034
2025-05-09 18:28:00
Tokyu Corporation and other operators of the once-in-a-century large-scale redevelopment project around Shibuya Station in Tokyo have announced that they will postpone the completion date from the original 2027 fiscal year to 2034. They say they have revised the construction plan to maintain convenience for railway users.
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Yen exchange rate temporarily drops to the low 146 yen range per dollar as US and UK move to buy back dollars amid tariff negotiations
2025-05-09 18:26:00
On the 9th in the Tokyo foreign exchange market, dollar buying intensified following the US reaching an agreement with the UK in negotiations over tariff measures, and the yen temporarily fell to the low 146 yen range against the dollar.
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US Steel acquisition by Nippon Steel: "President Trump to make decision by the 5th of next month"
2025-05-09 18:01:00
Nippon Steel said at a press conference on the 9th that President Trump is expected to decide whether to approve the plan to acquire American steelmaker U.S. Steel by the 5th of next month.
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Panasonic Holdings to cut 10,000 jobs at home and abroad as part of group restructuring
2025-05-09 17:59:00
Panasonic Holdings has announced plans to cut 10,000 jobs as part of a restructuring of the group.
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Panasonic Holdings to cut 10,000 jobs at home and abroad as part of group restructuring
2025-05-09 17:06:00
Panasonic Holdings has announced plans to cut 10,000 jobs as part of a restructuring of the group.
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March economic activity index falls for the first time in four months, down 1.3 points from the previous month
2025-05-09 16:46:00
The Cabinet Office announced that the coincident index, which indicates the current state of the economy, for March was 116.0, down 1.3 points from the previous month, with 2020 as the base year. This is the first decrease in four months.
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Stock prices rise by more than 600 yen temporarily following announcement of agreement in US-UK tariff negotiations
2025-05-09 16:24:00
On the 9th, the Tokyo Stock Exchange saw the Nikkei average rise by more than 600 yen at one point after US President Trump announced that an agreement had been reached in tariff negotiations with the UK.
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JA Zennoh wins March auction for stockpiled rice of over 190,000 tons, "shipment only 32%"
2025-05-09 16:21:00
JA Zen-Noh, the National Federation of Agricultural Cooperative Associations, announced on the 8th that of the more than 190,000 tons of government stockpiled rice that it won in a bidding process in March this year, more than 30% had been shipped to contracted parties.
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Decision made to change Nippon Telegraph and Telephone (NTT) from its nickname to its official company name
2025-05-09 15:46:00
NTT has announced that it has decided to change its company name from the current "Nippon Telegraph and Telephone" to "NTT," which is the commonly known name.
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Stock prices rise by more than 600 yen temporarily as US-UK tariff agreement reached
2025-05-09 14:31:00
On the 9th, the Nikkei average rose by more than 600 yen at one point on the Tokyo Stock Exchange. Following the announcement of an agreement with the UK in negotiations over US tariff measures, buy orders are being placed on a wide range of stocks in anticipation of progress in discussions with other countries.
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China trade statistics: April exports to the US down 21% from the same month last year
2025-05-09 14:22:00
China's exports to the US in April fell sharply by 21% compared to the same month last year. Imports from the US also fell by 13.8%, due to the intensifying trade friction with the Trump administration as a result of the tit-for-tat tariffs imposed on China.
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Former employee given suspended sentence in Tokyo District Court case over insider trading at Tokyo Stock Exchange
2025-05-09 14:05:00
In a trial for insider trading in which a former Tokyo Stock Exchange employee was accused of illegally conveying undisclosed information to his father, the Tokyo District Court handed down a suspended sentence to the former employee, finding that he had "severely damaged the trust of investors."
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Minister of Internal Affairs and Communications urges Fuji TV and its parent company to "report additional measures by the end of May"
2025-05-09 12:59:00
Regarding Fuji Television and its parent company reporting to the Ministry of Internal Affairs and Communications the measures they are taking to prevent the recurrence of the series of problems, Minister Murakami revealed that he has asked the company to analyze the reactions and evaluations of viewers and sponsors, compile additional measures to restore trust, and report back to him by the end of May.
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Former employee given suspended sentence in Tokyo District Court case over insider trading at Tokyo Stock Exchange
2025-05-09 12:56:00
In a trial for insider trading in which a former Tokyo Stock Exchange employee was accused of illegally conveying undisclosed information to his father, the Tokyo District Court handed down a suspended sentence to the former employee, finding that he had "severely damaged the trust of investors."
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China trade statistics: April exports to the US fall sharply
2025-05-09 12:50:00
According to trade statistics released by China's customs authorities on the 9th, the value of exports to the United States in April fell sharply, down 21% in dollar terms compared to the same month in 2024. In addition, the value of imports from the United States fell 13.8% compared to the same month in 2024. In April, the Trump administration in the United States raised additional tariffs on China to 145%, while China retaliated by raising additional tariffs on the United States to 125%, intensifying trade friction between the two countries, which influenced the results.
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Nissan abandons plans to build EV battery factory in Kitakyushu
2025-05-09 12:37:00
Nissan Motor Co. has announced its intention to abandon plans to build a new battery factory for electric vehicles (EVs) in Kitakyushu.
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Stock prices rise by more than 500 yen as US and UK reach agreement on tariffs
2025-05-09 12:25:00
On the 9th, the Tokyo Stock Exchange saw the Nikkei average rise by more than 500 yen on expectations that discussions with various countries would progress following US President Trump's announcement that an agreement had been reached in tariff negotiations with the UK.
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Rice price outlook index for the next three months rises by 4 points
2025-05-09 12:19:00
The index showing rice price outlook for the next three months, which was surveyed in April among rice producers and wholesalers, rose by four points from the previous survey. The survey group suggested that although stockpiled rice has started to be released, concerns that rice will become scarce as summer approaches may have become somewhat stronger.
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Rice prices continue to soar despite release of stockpiled rice; Agriculture Minister Eto says "room for improvement in distribution"
2025-05-09 11:55:00
Regarding the fact that rice prices have continued to rise even after the government began releasing its stockpiled rice, Agriculture, Forestry and Fisheries Minister Eto said at a press conference after the Cabinet meeting on the 9th that "there is room to improve the situation in that stockpiled rice is not being distributed properly," and indicated his intention to consider further measures.
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Household survey: Consumption in March up 2.1% from the same month last year, first increase in two months
2025-05-09 11:34:00
The amount of money spent by households with two or more people in March this year, in real terms excluding price fluctuations, increased by 2.1% compared to the same month last year. This is the first increase in two months, and the Ministry of Internal Affairs and Communications says that while consumption is showing signs of picking up, consumers continue to be thrifty due to rising vegetable prices and other factors.
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Minister of Internal Affairs and Communications urges Fuji TV and its parent company to "report additional measures by the end of May"
2025-05-09 11:20:00
Regarding Fuji Television and its parent company reporting to the Ministry of Internal Affairs and Communications the measures they are taking to prevent the recurrence of the series of problems, Minister Murakami revealed that he has asked the company to analyze the reactions and evaluations of viewers and sponsors, compile additional measures to restore trust, and report back to him by the end of May.
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Stock prices rise by more than 500 yen temporarily following agreement in U.S.-U.K. tariff negotiations
2025-05-09 11:15:00
On the 9th, the Nikkei Stock Average on the Tokyo Stock Exchange rose by more than 500 yen at one point.
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March household survey: Consumption by households with two or more people up 2.1%
2025-05-09 08:49:00
The Ministry of Internal Affairs and Communications announced in March that the amount spent on consumption by households with two or more people increased by 2.1% compared to the same month last year, excluding price fluctuations. This is the first increase in two months, and the average household consumption amounted to 339,232 yen.
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NY Dow rises by more than $600 at one point as US and UK reach agreement on tariffs
2025-05-09 06:17:00
On the 8th, the New York Stock Exchange saw the Dow Jones Industrial Average rise by more than $600 as buying orders spread due to expectations that negotiations with China and other countries would progress following the US reaching an agreement with the UK in negotiations over tariffs. The increase then narrowed after it was reported that President Trump was calling on Congress to raise taxes on the wealthy, and the closing price was $41,368.45, up $254.48 from the previous day.
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Steel makers promote "green steel" to reduce carbon emissions
2025-05-09 04:38:00
In order to achieve decarbonization, steel manufacturers are promoting the spread of steel products that reduce carbon dioxide emissions during the manufacturing process. However, because production costs are higher than for regular products, the issue of whether they can pass on these costs to sales prices is an issue.
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