Page 18 - Japan

Japan's Seven & i finalising plan for president Isaka to step down

President Ryuichi Isaka will resign and his replacement is almost certain to be director Stephen Dacus

India and Japan renew $75 billion bilateral currency swap agreement

India and Japan have renewed the USD 75 billion bilateral currencies swap agreement, the Reserve Bank said in a statement on Friday. The Bilateral Swap Arrangement (BSA) is a two-way arrangement where both authorities can swap their local currencies in exchange for the US dollar. The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank of India signed the Second Amendment and Restatement Agreement of the BSA, the central bank said. The renewed BSA is effective Friday (February 28, 2025). The size of the BSA remains unchanged -- up to 75 billion US dollars, the RBI said. It further said that Japan and India believe that the BSA, which aims to strengthen and complement other financial safety nets, will further deepen financial cooperation between the two countries and contribute to regional and global financial stability.

Founding family unable to secure funding for $58 bn buyout, says Seven & i

The failure of the management buyout heightens the likelihood of Couche-Tard pulling off a mammoth acquisition of one of Japan's best-known and most beloved retailers

Japan, Philippines to boost ties due to mutual alarm over China aggression

Japan and the Philippines agreed on Monday to further deepen their defense collaboration and talk about protecting shared military information in the face of mutual alarm over China's increasing aggressive actions in the region. Japanese Defence Minister Gen Nakatani and his Philippine counterpart, Gilberto Teodoro, forged the agreements in a meeting in Manila where their concern over China's actions in the disputed South China Sea and East China Sea was high in the agenda. Japan and the Philippines are treaty allies of the United States, and the three have been among the most vocal critics of China's assertive actions in the region, including in the contested waters. At the opening of his meeting with Nakatani, Teodoro said the Philippines was looking forward to boosting defense relations with Japan against unilateral attempts by China and other countries to change the international order and the narrative". Nakatani said after the meeting that he agreed with Teodoro to strengthen

Rich in cash, Japan's Toyota builds city to test futuristic mobility

Woven City near Mount Fuji is where Japanese automaker Toyota plans to test everyday living with robotics, artificial intelligence and autonomous zero-emissions transportation. Daisuke Toyoda, an executive in charge of the project from the automaker's founding family, stressed it's not a smart city. We're making a test course for mobility so that's a little bit different. We're not a real estate developer, he said Saturday during a tour of the facility, where the first phase of construction was completed. The Associated Press was the first foreign media to get a preview of the USD 10 billion Woven City. The first phase spans 47,000 square metres, roughly the size of about five baseball fields. When completed, it will be 2,94,000 square metres. Built on the grounds of a shuttered Toyota Motor Corp auto plant, it's meant to be a place where researchers and startups come together to share ideas, according to Toyoda. Ambitious plans for futuristic cities have sputtered or are unfinis

India, Japan to hold joint military exercise from February 24 to March 9

India and Japan are set to take part in a joint military exercise starting February 24, aiming to enhance interoperability between the two forces while undertaking joint urban warfare and counter-terrorism operations under UN mandate. The exercise underscores the shared commitment of India and Japan towards regional security, peace and stability while advancing their common vision of a free, open and inclusive Indo-Pacific, the defence ministry said in a statement on Saturday. The Indian Army contingent departed on Saturday for the sixth edition of the India-Japan Joint Military Exercise 'Dharma Guardian'. The exercise is scheduled to be conducted in the East Fuji Manoeuvre Training area of Japan from February 24 to March 9. "The aim of the exercise is to enhance interoperability between the two forces while undertaking joint urban warfare and counter-terrorism operations under UN mandate," it said. Exercise 'Dharma Guardian' is an annual event conducted alternatively in India and

Japanese group draws up plans for Tesla to invest in Nissan: Report

Some analysts, however, are doubtful of Tesla's interest in acquiring U.S. plants, citing its ample capacity at existing factories and first decline in yearly deliveries in 2024

Nearly 90% of Japanese firms say Trump's policies hurt business: Survey

Around 72 per cent of those surveyed cited Trump's trade policies, including tariffs, as a key issue, while 26 per cent blamed worsening US-China relations, the survey found

Suzuki aims to boost sales by a third by 2030, invest heavily in India

The company aims to boost manufacturing capacity there to meet expected local demand while expanding India's role as an exports hub

Japanese electronics firm Murata to set up manufacturing unit in Tamil Nadu

This comes after Murata president Norio Nakajima stated that the company is analysing potential investment scenarios in India

Japan raises concerns over auto tariffs with US as Trump threatens 25% hike

It's not clear if Japan is also seeking an exemption from the auto tariffs as Trade Minister Yoji Muto didn't respond directly on Tuesday when asked about it

Man who attacked Japan's former PM Fumio Kishida sentenced to 10 years

A Japanese court on Wednesday convicted a man who threw a homemade pipe bomb at Japan's former Prime Minister Fumio Kishida at a 2023 campaign event, sentencing him to 10 years in prison, according to local media reports. Ryuji Kimura, 25, was charged with attempted murder for the April 15, 2023 attack on Kishida at a small fishing port in the western city of Wakayama, as well as four other charges including violations of laws on explosives and other weapons. In the ruling, the Wakayama District Court sentenced Kimura to 10 years in prison, according to Japan's public television and other media, without specifying which of the five charges he was found guilty of. The court did not immediately confirm the ruling by phone. Kimura, at an opening session of the trial in early February, pleaded not guilty to attempted murder, saying he didn't intend to kill Kishida. The then-prime minister was unhurt, but two people sustained minor injuries. Kimura was arrested on the spot. The attack

Yen rallies on upbeat growth data, dollar steady around two-month low

This has cemented the case for more rate hikes from the Bank of Japan this year. Markets are now pricing in roughly another 37 basis points worth of increases by December

Japan's economy grows more than expected on strong exports, consumption

Japan's economy grew at a better-than-expected annual rate of 2.8 per cent in October-December, underlined by steady exports and moderate consumption. On a quarter-to-quarter basis, the world's fourth largest economy grew 0.7 per cent for its third straight quarter of growth, the Cabinet Office reported on Monday in its preliminary data. For 2024, the Japanese economy eked out 0.1 per cent growth in seasonally adjusted real GDP, or gross domestic product, which measures the value of a nation's product and service. That's the fourth straight year of expansion. Private consumption grew at an annual rate of 0.5 per cent during the three months through December, holding up while losing momentum. Exports jumped 4.3 per cent, and capital investment increased 0.5 per cent. The positive data sent Japan's benchmark Nikkei 225 higher, as well as other Asian markets. Some analysts think the anticipation of President Donald Trump's tariffs may have lifted trade. Unlike the US and some other

Sony raises profit forecast as strong gaming business drive growth

Japanese electronics and entertainment company Sony reported a 3 per cent gain in October-December profit Thursday, and raised its full-year forecast. Quarterly profit totaled 373.7 billion Yen (USD 2.4 billion), up from 364 billion Yen. Quarterly sales edged up 18 per cent to 4.4 trillion Yen (USD 29 billion), boosted by solid results in its financial services, games and music operations. The Tokyo-based maker of the PlayStation video game machine reported a 21 per cent gain in April-December profit at 943.9 billion yen (USD 6 billion), up from 781.6 billion. Nine-month sales edged up 8 per cent to 10.3 trillion Yen (USD 67 billion). Sony Corp revised its full year profit projection upward to 1.08 trillion Yen (USD 7 billion) from the 980 billion Yen (USD 6.3 billion) annual profit forecast it gave in November. The latest projection is also an 11 per cent improvement over the profit it recorded the previous fiscal year. The revision was caused by a favourable currency exchange

Buyout firms compete to acquire cybersecurity company Trend Micro: Report

In November, Trend Micro said third-quarter net sales rose 6 per cent to 68.1 billion yen for a 42 per cent jump in operating income to 14.8 billion yen, as its operating margin rose to 24 per cent

Japanese firms commit Rs 7,500 cr in investments at Invest Karnataka 2025

Leading Japanese companies have pledged investments across multiple sectors, with a strong focus on automobile manufacturing, industrial automation, and advanced technology

Around 250 Japan CEOs to visit UP to explore investment opportunities

Deputy Governor of Japan's Yamanashi Prefecture, Ko Osada, on Wednesday paid a courtesy visit to Uttar Pradesh Chief Minister Yogi Adityanath at his official residence and discussed investment opportunities in the state among other issues, according to an official statement issued here. Ko Osada said, "Around 250 CEOs from Japan will visit Uttar Pradesh to explore potential investment opportunities. The Japanese delegation will assess the state's investment prospects, driven by its strong law and order, good governance and rapid economic growth. "This initiative will also create significant employment opportunities for the youth of Uttar Pradesh," it said. Ko Osada emphasised his commitment to strengthening friendly relations between Yamanashi and Uttar Pradesh. A key focus of the discussions was green hydrogen, the statement said. It was felt that a pact between UP and Japan's Yamanashi Prefecture would drive green hydrogen initiatives, including a centre of excellence, with Japa

Booze breaks & hangover leave: Japan's IT firm is redefining work culture

Trust Ring Co, an Osaka-based IT company, believes that a little fun can go a long way in keeping employees happy

Japan's Softbank Group likely to make $1.5 billion quarterly profit

The profit of 234 billion yen is based on the average of four analyst estimates compiled by LSEG, and compares with a gain of 950 billion yen in the same period last year