Page 31 - Japan

Japan's economy grew last qtr on healthy consumer spending, investments

Japan's economy grew at an annual rate of 3.1% in the April-June period, rebounding from the contraction in the previous quarter, government data showed Thursday. The world's fourth largest economy grew 0.8% in the fiscal first quarter, according to the Cabinet Office. Seasonally adjusted gross domestic product, or GDP, measures the value of a nation's products and services. The annual rate shows how much the economy would have grown or contracted, if the quarterly rate had continued for a year. Domestic demand grew a robust 3.5% from the previous quarter on the back of healthy household consumption and private sector investments, as well as government investments. Exports grew a booming 5.9%. Japan's GDP shrank 0.6% in January-March on quarter, after eking out 0.1% growth in October-December last year. Economic growth went back and forth between such periods of contraction and weak expansion for the past year. Today's GDP data signal that the virtuous cycle between income and ...

Japanese worried after first-ever megaquake advisory. What does it mean?

Japan, one of the most earthquake-prone nations on earth, issued its first-ever megaquake advisory last week after a powerful quake struck off the southeastern coast of the southern main island of Kyushu. The magnitude 7.1 quake caused no deaths or severe damage but the advisory has led to widespread confusion and a lingering sense of worry in a country well accustomed to regular quakes about when the next big one will hit. The Associated Press explains what the advisory means, what people are being told to do, and what could happen if a massive quake hits Japan. What is a megaquake advisory? The Japan Meteorological Agency issued the advisory after concluding that the magnitude 7.1 quake that struck on August 8 on the western edge of the Nankai Trough increased the likelihood of another big one. There is a 70-80 per cent chance of a magnitude 8 or 9 quake associated with the Nankai Trough within the next 30 years, and the probability is now higher than normal after the latest .

Japan PM Fumio Kishida to step down in Sept as scandals grow

Japanese Prime Minister Fumio Kishida, in a surprise move Wednesday, announced he will not run in the upcoming party leadership vote in September, paving the way for Japan to have a new prime minister. Kishida was elected president of his governing Liberal Democratic Party in 2021 and his three-year term expires in September. His drop out of the race means a new leader who wins the party vote will succeed him as prime minister because the LDP controls both houses of parliament. Kishida, stung by his party's corruption scandals, has suffered dwindling support ratings that have dipped below 20%. He announced he will not run in the September vote, allowing for a fresh leader in an effort to show that his party is changing for the better. Kishida will support a new leader, he said. Local election losses earlier in the year eroded his clout, and LDP lawmakers have voiced the need for a fresh face ahead of the next general election. Since the corruption scandal broke, Kishida has remov

Top contenders for Japan's leadership after PM Kishida announces exit

Here's a look at some of the potential contenders to replace Kishida

Maruti Suzuki commences export of Made in India SUV Fronx to Japan

Maruti Suzuki India on Tuesday said it has commenced export of its sports utility vehicle Fronx to Japan. The first consignment of over 1,600 vehicles left for Japan from Gujarat's Pipavav port, the country's largest carmaker said in a statement. Fronx will be the first SUV from Maruti Suzuki stable to be launched in Japan, it added. The company rolls out the model exclusively from its Gujarat plant. Fronx is the second model from Maruti Suzuki to be exported to Japan, after Baleno in 2016. Suzuki Motor Corporation, which owns around 58 per cent stake in Maruti Suzuki, plans to introduce Fronx in the Japanese market later this year. "Japan is one of the most quality-conscious and advanced automobile markets in the world. Our export to Japan is a testament to Maruti Suzuki's capability to manufacture world-class vehicles that exemplify cutting-edge technology, exceptional performance, internationally recognised safety, and quality standards," Maruti Suzuki India MD & CEO Hisashi .

Myanmar releases Japanese exec arrested for selling rice above set prices

A Japanese business executive who was detained in Myanmar for more than a month has been released after being convicted of violating rice pricing rules, officials said Tuesday. Hiroshi Kasamatsu, a director of the Myanmar supermarket Aeon Orange, was in custody in Myanmar since his June 30 arrest for selling rice at prices above the official regulations. Japan's Foreign Ministry confirmed Monday that the Japanese national was convicted of violating law related to daily necessities and service. He was sentenced to one year in prison and fined 500,000 kyat (about USD 150). Kasamatsu was freed Monday afternoon, said Maj. Gen. Zaw Min Tun, spokesperson for the Myanmar's ruling military council. The Japanese Foreign Ministry said it was unclear if Kasamatsu would stay in Myanmar or return to Japan. He was released from custody and is in good health, it said, but declined to give further details. Rice is vital in Myanmar, a country struggling to stabilize its economy as civil war disrup

Japanese shares lift Asian stocks on steady yen ahead of US data barrage

Japan's Nikkei rose more than 2 per cent in early trading after Monday, a welcome relief after last week's volatility that began with a massive sell-off spurred by rising yen and fears of US recession

Storm dumps intense rainfall on north Japan, sending some people to shelter

A slow-moving storm has been dumping intense rains on northern Japan, causing rivers to swell, sending some residents to shelters and disrupting traffic during a Japanese Buddhist holiday week. The storm was once Typhoon Maria but has weakened, with winds now blowing up to 90 kph. It made landfall near Ofunato City in Iwate prefecture Monday morning and was expected to cut across the Tohoku region as it moved northwest at 15 kph, according to the Japan Meteorological Agency. The Fire and Disaster Management Agency said no damage or injuries were reported so far, but authorities have cautioned about the risks of flooding and mudslides and advised 170,000 residents in Iwate and neighbouring Aomori and Miyagi prefectures to go to shelters. Up to 46 centimetres of rain has fallen over the past two days in the Iwate city of Kuji, and up to 25 centimetres more rain is forecast through Tuesday morning. Footage on NHK public television showed pedestrians walking by a swollen river as muddy

Kai Group to invest Rs 17 cr to expand manufacturing facility in Rajasthan

Kai Group, a Japan-based personal care product and kitchen equipment maker, said it will invest 300 million yen (around Rs 17.17 crore) to expand production capacity of its manufacturing facility at Neemrana in Rajasthan. This latest investment is to increase the production capacity of women's razors by over 5 million units per year, according to a statement issued by the group's local subsidiary Kai India. "The group is planning an additional investment, allocated around 300 million yen, reflecting KAI group's commitment to bolstering its manufacturing infrastructure," it said. The expected timeline for the completion of this expansion is five months, and the company expects the enhanced production capacity will be operational by the end of December 2024. This expansion aligns with Kai India's 'make in India' initiative, strengthening local manufacturing and meet the increasing demand from both local and international markets. Kai India Managing Director Rajesh U Pandya said: "Ou

Japanese PM cancels Central Asia visit due to mega earthquake advisory

Japan Met department said a higher-than-usual probability of a megaquake is predicted around the Nankai Trough

Bank of Japan's policy path filled with risks after global market turmoil

In some ways, investor complacency after such a long period of steady BOJ policy made the likelihood of jumpy markets inevitable when it came time for Japanese authorities to exit

Japan issues its first 'megaquake' warning after powerful tremors in Kyushu

A megaquake in what's known as the Nankai trough could surpass the damage from the March 2011 earthquake and tsunami that devastated the northern coast of the main island of Honshu

Japanese govt issues its first 'megaquake' warning after powerful tremor

Defined as a major tremor occurring in 100- to 150-year cycles, a megaquake could surpass the damage from the March 2011 earthquake

SoftBank VF1 reports $544 mn loss on Paytm exit, gains $65 mn on Zomato

The Japanese conglomerate recorded a $394 million gross gain from its $199 million investment in Policybazaar, and gain of $285 million on its $397 million investment in Zomato

Tech leads Asia stock selloff; yen, dollar gains in volatile week for mkts

Elsewhere, Taiwan's tech-heavy stock benchmark sagged 2% and Hong Kong's Hang Seng lost 1%

Will work to make Maha's economy surpass Japan, Germany: Guv Radhakrishnan

Maharashtra Governor CP Radhakrishnan has said he will work to make the state's economy larger than Japan and Germany and to ensure the wealth created reached the remotest village of the state. He was speaking here on Wednesday at the launch of 'Yoddha Karmayogi - Eknath Sambhaji Shinde', a biography of Chief Minister and Shiv Sena leader Eknath Shinde. He highlighted Maharashtra's crucial role in realising Prime Minister Narendra Modi's vision of a 'Viksit Bharat' (developed India) by 2047. The governor expressed confidence in CM Shinde's leadership to make Maharashtra a trillion-dollar economy while ensuring inclusive development. "A day will come by 2047 when India will be the richest nation of the world. That time, our Maharashtra state economy should be larger than the second largest economy of the world, that should be our aim and we all should work towards it," he said. "I will work with you to the extent that Maharashtra state's economy becomes larger than the second larg

Honda posts 23% Q1 profit jump, aided by sales of hybrid vehicle

The company maintained its full-year operating profit forecast of 1.42 trillion yen, while slashing its sales outlook for China by 220,000 vehicles for that period

Japan, South Korea, and UAE tourists can now avail visa-on-arrival in India

Visa-on-arrival is available at six designated airports: Bangalore, Chennai, Delhi, Hyderabad, Kolkata, and Mumbai

Stock rout in Japan wipes out $15 bn of SoftBank Group Corp's value

The technology giant's stock fell 19 per cent, the worst performance since SoftBank listed on the Tokyo Stock Exchange in 1998

Fear-gripped equity investors lose Rs 15 trillion; Sensex, Nifty fall 2.7%

India VIX surges 42%, most in 9 years; FPIs offload shares worth Rs 10,073 crore