Economic news(2025/05/15)
Three major financial groups record profits last year, totaling more than 3.9 trillion yen
2025-05-15 20:16:00
The three major financial groups posted record profits for the last fiscal year, totaling more than 3.9 trillion yen, due in part to the Bank of Japan's interest rate hike, which improved lending margins. This fiscal year, the three companies are forecasting further increases in profits, but they also see risks, such as a decline in corporate demand for funds due to the impact of tariffs imposed by the Trump administration in the United States.
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Japan Post Group's postal and logistics businesses post operating losses for two consecutive years
2025-05-15 19:14:00
Japan Post Group announced its financial results for the fiscal year ending March 31, 2019, showing that its postal and logistics business, which has been struggling due to a decline in mail handling, posted an operating loss of 38.3 billion yen, its second consecutive year of losses.
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The yen rose by more than 1 yen on the back of speculation that the US dollar's strength may be being corrected.
2025-05-15 18:35:00
On the 15th, in the Tokyo foreign exchange market, the yen rose by more than 1 yen as a result of a trend of buying yen and selling dollars, against the backdrop of a growing view that the United States may ask Japan to correct the high dollar.
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Japan Display to cut around 1,500 jobs after posting final deficit of 78.2 billion yen
2025-05-15 17:35:00
Japan Display, a liquid crystal panel manufacturer, posted a net loss of 78.2 billion yen in the last fiscal year. With 11 consecutive years of net losses, the company has also announced that it will be offering voluntary retirement to around 1,500 employees in Japan.
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Government plans to extend deadline for buying back stockpiled rice to "within five years in principle"
2025-05-15 17:21:00
In response to concerns that stockpiled rice is not being distributed sufficiently, the government has decided to extend the deadline for buying back the same amount of rice from businesses that have sold it from the current "within one year in principle" to "within five years in principle." The aim is to ease businesses' concerns about the buyback and make it easier to distribute stockpiled rice.
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Plan to extend deadline for buying back stockpiled rice to "within five years in principle"
2025-05-15 17:06:00
In response to concerns that the stockpiled rice released by the government is not being distributed sufficiently to supermarkets and other outlets, the government has decided to extend the deadline for buying back the same amount of rice from businesses that have sold the stockpiled rice from the current "within one year in principle" to "within five years in principle." This is intended to ease businesses' anxieties about the buyback and encourage easier distribution of stockpiled rice, as well as to ease concerns that the government's buyback will lead to rice shortages in the future.
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Japan Display to cut around 1,500 jobs after posting final deficit of 78.2 billion yen
2025-05-15 16:07:00
Japan Display, a liquid crystal panel manufacturer, announced that it had posted a net loss of 78.2 billion yen for the last fiscal year. This marks the 11th consecutive year of net losses, and the company also revealed that it would be offering voluntary retirement to around 1,500 employees in Japan, which is more than half of its domestic workforce. In addition, Chairman and CEO Scott Callon announced that he would step down from his position as CEO, taking responsibility for the company's poor performance.
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Stock prices fall as yen strengthens and dollar weakens, leading to sell orders for export-related stocks
2025-05-15 16:07:00
On the 15th, the Tokyo stock market saw the Nikkei average fall as sell orders were placed on export-related stocks due to the yen strengthening against the dollar in the foreign exchange market.
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Sumitomo Mitsui Card and SoftBank announce partnership in financial services, etc.
2025-05-15 15:27:00
Sumitomo Mitsui Card, a subsidiary of Sumitomo Mitsui Financial Group, and SoftBank have announced that they will collaborate in the fields of financial services and digital technology. In addition to linking each other's financial apps with smartphone payments, the two companies will also be able to exchange points, aiming to capture the customers of both companies through a cross-industry collaboration.
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Nippon Life Insurance to end secondment to agency due to customer information leak issue
2025-05-15 13:46:00
Nippon Life Insurance, a major life insurance company, has announced that it will stop seconding employees to joint agencies that handle products from multiple insurance companies for sales purposes. The company is reviewing the secondment system in response to a series of problems in the industry, including the leaking of customer information.
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Stock prices fall Sell orders for export-related stocks
2025-05-15 12:05:00
On the 15th, the Nikkei average fell on the Tokyo stock market as sell orders were placed on export-related stocks due to the yen strengthening somewhat against the dollar in the foreign exchange market.
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Japan Display considering cutting more than 1,000 domestic staff
2025-05-15 10:16:00
It has been revealed that Japan Display, a liquid crystal panel manufacturer, is considering cutting more than 1,000 employees in Japan. This amounts to nearly half of the company's domestic workforce, and the company is in urgent need of a turnaround amid continuing losses.
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Investment fund that is a major shareholder of Fuji's parent company seeks direct talks with Fuji's president
2025-05-15 06:39:00
As Fuji Television's parent company is reviewing its next board of directors candidates, the chief investment officer of a major shareholder investment fund that is proposing its own candidates spoke to NHK in an interview. He revealed his intention to seek direct discussions with Fuji Television's president Kenji Shimizu before the general shareholders' meeting in order to have his own candidate proposal accepted.
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Ministry of Agriculture, Forestry and Fisheries considers extending deadline for repurchasing stockpiled rice from "within one year in principle"
2025-05-15 06:00:00
In response to the fact that rice prices have remained high even after the release of stockpiled rice began, it has been learned that the Ministry of Agriculture, Forestry and Fisheries is considering extending the deadline for buying back from traders the same amount of stockpiled rice that has been sold from the current "within one year in principle," and not including rice harvested this year as part of the buyback. The ministry plans to make the final adjustments with related ministries and agencies and the ruling party, and to announce the plan soon.
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Automakers' business outlooks "undecided" one after another due to tariff measures
2025-05-15 05:06:00
Financial results for various automakers have been released. Many manufacturers have left their earnings forecasts for the current fiscal year "undecided" due to the uncertainty surrounding the future, including the direction of US tariff policies. Furthermore, those that have provided forecasts are expecting a significant drop in profits due to the impact of exchange rates.
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Financial Services Agency considers extending application deadline for system to inject public funds into regional banks
2025-05-15 00:37:00
As the population in regional areas continues to decline, the Financial Services Agency has decided to consider extending the application deadline, currently set at March next year, for a system under which public funds are injected into regional banks and other financial institutions, in order to ensure that they can steadily fulfill their role of supporting local businesses.
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