Page 38 - Japan

Legacy firms outperform modern, got 75% of PE-VC investments in 2023

75% of PE-VC investments were directed towards conventional sectors such as healthcare, retail, energy, advanced manufacturing

BOJ board turned hawkish in April, many saw need for more rate hikes

The debate underscores BOJ Governor Kazuo Ueda's recent remarks signalling the chance of multiple rate hikes ahead, and heightens the possibility of an increase in short-term borrowing costs

India overtook Japan to become 3rd largest solar power generator in 2023

Rapid solar energy deployment in India pushed the country past Japan to become the world's third-largest solar power generator in 2023, according to a new report. The report by global energy think tank Ember said India ranked ninth in solar energy deployment in 2015. Solar produced a record 5.5 per cent of global electricity in 2023. In line with the global trend, India generated 5.8 per cent of its electricity from solar last year, as reported in Ember's "Global Electricity Review". Ember's Asia Programme director Aditya Lolla said, "Increasing clean electricity is not just for reducing carbon emissions in the power sector. It is also needed to meet the rising electricity demand in an increasingly-electrified economy and to decouple economic growth from emissions, which is crucial for tackling climate change." Solar maintained its status as the world's fastest-growing electricity source for the 19th consecutive year, adding more than twice as much new electricity worldwide as coal

Japan's Sumitomo Mitsui Financial invests Rs 1,300 cr in SMFG India Credit

SMICC has separately invested Rs 150 cr in a subsidiary to expand its affordable housing finance solutions

Japanese steelmaker JFE eyes overseas investments amid slower profit growth

In February, JFE announced an average increase in steel product sale prices of 10% from April to reflect rising raw material costs and global inflation

Japan describes US President Biden's 'xenophobia' comment as regrettable

Last week Biden said "xenophobia" in economies from China to Japan and India was hobbling their growth, while arguing at a Washington fund-raising event that migration has been good for the US

Yen eases despite intervention threat, as RBA keeps interest rates steady

At the RBA's last meeting in mid-March, policymakers watered down their tightening bias, although Bullock declined to say whether policy has shifted to neutral

Asian shares at 15-mth high on rate cut bets; RBA seen turning hawkish

Japan's Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1 per cent rise overnight

Dollar broadly steady after soft US jobs report; yen starts on back foot

The offshore yuan was last at 7.1959 per dollar, and gained more than 1 per cent last week

Defence chiefs from US, Oz, Japan, Philippines vow to deepen cooperation

Defence chiefs from the US, Australia, Japan and the Philippines vowed to deepen their cooperation as they gathered on Thursday in Hawaii for their second-ever joint meeting amid concerns about China's operations in the South China Sea. The meeting came after the four countries last month held their first joint naval exercises in the South China Sea, a major shipping route where Beijing has long-simmering territorial disputes with a number of Southeast Asian nations and has caused alarm with its recent assertiveness in the waters. US Defence Secretary Lloyd Austin told reporters at a news conference after their discussion that the drills strengthened the ability of the nations to work together, build bonds among their forces and underscore their shared commitment to international law in the waterway. Australian Defense Minister Richard Marles said the defense chiefs talked about increasing the tempo of their defense exercises. Today, the meetings that we have held represent a very

'Xenophobia' stalling economic growth in China, Japan and India, says Biden

The IMF forecast last month that each country would see its growth decelerate in 2024 from the year prior, ranging from 0.9 per cent in highly developed Japan to 6.8 per cent in emerging India

Yen set for strongest week in over a year; dollar waits on US jobs

The yen rose to a session-high of 152.895 per dollar in early Asia trade and was set to clock a weekly gain of more than 3 per cent , its largest since December 2022

White House defends Biden's statement calling India, China 'xenophobic'

The United States is a country of immigrants, the White House has said, defending President Joe Biden's remarks calling two of his QUAD partners -- India and Japan -- as well as Russia and China "xenophobic" nations, asserting that none of these countries, unlike the US, welcome immigrants. Responding to a question about the remarks made by Biden at an election fundraiser on Wednesday, White House Press Secretary Karine Jean-Pierre said that the president was making a "broader point". He was making a broader point. Our allies and partners know very well that how much this president respects them," Jean-Pierre told reporters at her daily news conference on Thursday. "As you know, in regard to Japan, they were just here for the state visit. The US-Japan relationship is an important relationship. It's a deep, enduring alliance, she said. "He (Biden) was making a more broad comment, speaking about this country and speaking about how important it is to be a country of immigrants and ho

Japan PM Kishida unveils a framework for global regulation of generative AI

Japanese Prime Minister Fumio Kishida unveiled an international framework for regulation and use of generative AI on Thursday, adding to global efforts on governance for the rapidly advancing technology. Kishida made the announcement in a speech at the Paris-based Organization for Economic Cooperation and Development. Generative AI has the potential to be a vital tool to further enrich the world, Kishida said, according to a transcript of his speech provided in advance. But we must also confront the dark side of AI, such as the risk of disinformation." When Japan chaired the Group of Seven leading industrialized nations last year, it launched a Hiroshima AI process to draw up international guiding principles and a code of conduct for AI developers. Some 49 countries and regions have signed up to the voluntary framework, called the Hiroshima AI Process Friends Group, Kishida said, without naming any. They will work on implementing principles and code of conduct to address the risks

Japan's forex intervention may have cost $23.6 bn, BoJ data shows

Analysts point to the gaping gap between Japanese and U.S. government debt yields as the force behind the yen's slide

Mitsubishi CEO says weak yen hurting economy, poses risks to deals abroad

The yen has slid to 34-year lows this year as the Bank of Japan keeps interest rates low, causing investors to buy higher-yielding currencies

Yen surges against US dollar on suspected intervention by Japan authorities

The difficulty in arresting the yen's slide has been made clear by the speed at which the currency has reversed direction after its spike

Asian stocks off to shaky start as US Fed flags delays to rate cuts

Much of Asia is returning from a holiday that had closed markets on Wednesday, though Chinese bond, currency and stock markets remain shut through the rest of the week

South Korea confirms talks on joining AUKUS pact with US, UK and Australia

AUKUS, formed by the three countries in 2021, is part of efforts to push back against China's growing power in the Asia Pacific region.

Bank of Japan upbeat on consumption, rising service prices, pay hikes

The BOJ ended eight years of negative rates and other remnants of its unorthodox policy last month