Page 62 - Japan

Yen under pressure; Australian dollar slides as data shows inflation easing

The yen was under pressure against most other major currencies on Wednesday, even as Japanese authorities said they could intervene to prop it up, while the Australian dollar dropped

Japan to reinstate South Korea as preferred trade nation from July 21

Japan announced a decision on Tuesday to reinstate South Korea as a preferred nation with fast-track trade status starting July 21, virtually ending a four-year economic row that was further strained during their bitter historic disputes. Trade Minister Yasutoshi Nishimura told reporters that Japan and South Korea have also agreed to set up a framework to review and follow up on the systems as needed. Japan and South Korea have been rapidly mending their ties as they deepen three-way security cooperation with Washington in response to growing regional threats from North Korea and China. A reinstatement of South Korea's preferential status next month would end a four-year trade dispute that began in July 2019 when Japan removed South Korea from its white list of countries given fast-track approvals in trade as ties deteriorated over compensation for Japanese wartime actions. Japan's tightening of trade controls against Seoul was an apparent retaliation for South Korean court rulings

G7 to work closely following Russia uprising: Japanese PM Kishida

He made these remarks in reference to the rebellion that seemed to have dealt a blow to the authority of Russian President Vladimir Putin

Japan to take over global leader in chipmaking compounds for $6 billion

The move could help Tokyo expand control over compounds essential for making advanced semiconductors

Fukushima nuclear plant to release treated wastewater into sea: Operator

All equipment needed for the release into the sea of treated radioactive wastewater from the wrecked Fukushima nuclear plant has been completed and will be ready for a safety inspection by Japanese regulators this week, the plant operator said Monday, as opposition to the plan continues in and outside Japan over safety concerns. Tokyo Electric Power Company Holdings said it installed the last piece of an undersea tunnel dug to release the water offshore, completing the construction of the necessary equipment that began last August. A mandatory safety inspection of the equipment will begin Wednesday, said Nuclear Regulation Authority Chairman Shinichi Yamanaka, who visited the Fukushima Daiichi plant last week. If everything goes well, TEPCO is expected to receive a safety permit for the release about a week after the inspection ends, officials said. Discharge of the treated water is expected to begin this summer, although the exact date has not been set. The plan has faced fierce .

Japan's fisheries head against pumping treated radioactive water into sea

The head of Japan's national fisheries cooperatives has reiterated his group's opposition to the planned discharge of treated radioactive water into the sea from the wrecked Fukushima nuclear power plant, demanding the government take full responsibility for any negative impact on the industry. We cannot support the government's stance that an ocean release is the only solution, said Masanobu Sakamoto, president of JF Zengyoren, or the National Federation of Fisheries Cooperatives. A release is expected to begin this summer, though the exact date has not been set. Sakamoto met Economy and Trade Minister Yasutoshi Nishimura on Thursday and handed him a statement of objection to the treated wastewater release plan. Whether to release the water into the sea or not is a government decision, and in that case we want the government to fully take responsibility, he told reporters after meeting with Nishimura. Japan's government announced plans in April 2021 to gradually release the treat

Global chip race touches off spending spree, led by Intel's $50 bn campaign

Combined, the US, the European Union, Japan and India have committed more than $100 billion in subsidies to attract the likes of Intel, Taiwan Semiconductor Manufacturing Co. and Micron Technology Inc

Japan ID system causes concern amid payment glitches, incorrect deliveries

Japan "My Number" identification card system caused further concern following a number of new errors, with govt saying that numerous cards were erroneously linked to wrong cardholders' payment methods

Wages are finally rising in Japan, as inflation eats away at consumer gains

Wages are rising in Japan more than they have in decades, at least for some workers. But so are prices, leaving many people feeling they must scrimp more than ever. In May, the consumer price index was up 3.2 per cent from a year earlier, well above the central bank's target of about 2 per cent. That's great news for policymakers trying to get the world's third largest economy out of the doldrums by keeping credit super cheap to spur demand and push prices higher. But a government survey of companies with five or more employees found real wages, taking into account higher prices, fell 3 per cent from the a year earlier in April, marking the 13th straight month of declines. Although all the major companies have raised wages this year, with large labour union members landing a 4 per cent hike, the highest in 30 years, a quarter of small and medium-size businesses employers of more than two-thirds of all workers gave no pay raises, according to the think tank Tokyo Shoko Research. M

Allergy season drags Japan's economy of $2.74 bn in spending: Report

Japan's hay fever season this year stood to suppress consumer spending by 383.1 billion yen ($2.70 billion), local media reported

PE funds moving away from China to India, Japan amid geopolitical tensions

A report by Bain and Company said that the Covid-19 lockdowns, declining growth, and US-China tensions led to a 53% drop in Greater China deal value in 2022

Japan-based Musashi forays into Indian EV market with Rs 70-cr investment

Musashi will collaborate with BNC Motors for expansion into the EV market

Japan raises age of consent to 16, criminalises voyeurism under new reforms

The reforms however make an exception for teen couples with no more than five years of age gap from prosecution, given that both the partners are above 13 years of age

S Korea dismisses chances of lifting Japan Fukushima seafood import ban

S Korea's current ban on imports of seafood from Japan's Fukushima area will remain in place regardless of Tokyo's planned release of contaminated water from its crippled Fukushima nuclear power plant

Auto parts maker Musashi enters India's EV space, to invest Rs 70 cr

Japanese auto parts maker Musashi on Friday announced its entry in the electric mobility space in India in collaboration with BNC Motors and said it will invest Rs 70 crore in the first phase of the business. Musashi India, a wholly-owned subsidiary of Musashi Seimitsu Industries, manufactures transmission components for IC engine-powered two and four wheelers. The company said it will use its platform of design and engineering capability to manufacture its new EV unit consisting of a motor, PCU, and gear box, it said. The company said it will manufacture the e-Axle at its Bengaluru plant, starting October. Musashi will spend Rs 70 crore in phase-1 to set up an assembly line for the product at its manufacturing facility in Bengaluru, it said. We are bringing Musashi's expertise and advanced technology to the electric mobility sector in India. Our focus is to provide components that are essential for the growth and success of electric vehicles, said Toshihisa Otsuka, CEO India and

US, South Korea, Japan condemn North Korea's latest missile provocation

The top national security advisers of the US, South Korea, and Japan condemned North Korea's missile launches on Thursday, calling them clear violations of multiple resolutions

India rallies to beat Japan, face Malaysia in semifinals of Squash WC

Second-seeded India bounced back to edge out Japan 3-1 in a Pool B match to top the group and enter the semifinals of the SDAT WSF Squash World Cup here on Thursday. The hosts reached the semifinals of the championship for the first time, where they will play No.4 seeds Malaysia. The India team comprising Abhay Singh, Joshna Chinappa, Saurav Ghosal and Tanvi Khanna were already guaranteed their place in the semi finals after two incredible 4-0 wins in their first two ties against Hong Kong China and South Africa but Thursday's victory meant that they avoid top seeds Egypt. The team got off to a poor start when Abhay Singh lost in three games to Tomotaka Endo. In the next match, former World No.10 Joshna Chinappa was on hand to perform an incredible rescue act. Despite going one game down to Satomi Watanabe - the top ranked player at the tournament - Chinappa showed incredible determination to come back, with the 36-year-old, who is also from Chennai, winning 2-7, 7-4, 3-7, 7-5, ...

Pak FM Bilawal to travel to China and Japan to boost bilateral ties

Pakistan Foreign Minister Bilawal Bhutto Zardari will embark on a two-nation visit to China and Japan from June 27 to deepen bilateral cooperation. He will travel to China in the last week of June to attend the 14th Annual Meeting of the New Champions, also known as the World Economic Forum's (WEF) "Summer Davos", to be held from June 27 to June 29 in China's Tianjin Municipality, official sources told The Express Tribune newspaper on Wednesday. Bilawal will also undertake a maiden visit to Japan in the first week of July. Japan is a key development partner of Pakistan and the foreign minister's visit would likely further deepen the cooperation, it said. Pakistan has tried to maintain a fine balance while pursuing ties with its all-weather ally China and its rival Japan. Tokyo has old ties with Islamabad and supported the country financially. But in the preceding years, Japan's relationship has grown exponentially with India while Pakistan found greater comfort in the arms of ...

Japanese G20 delegates take ride in Delhi Metro, visit DMRC museum

Japan's State Minister for Foreign Affairs Shunsuke Takei Wednesday took a ride in Delhi Metro and visited the museum of the Delhi Metro Rail Corporation (DMRC) here, officials said. He was travelling as part of a Japanese G20 delegation that included the Ambassador of Japan to India, Hiroshi Suzuki, among others. "The members of the delegation travelled by metro from Central Secretariat to Chawri Bazaar," a senior official of the DMRC said. The group took a tour of the Chawri Bazaar underground station located in old Delhi. On their return journey, the group stopped to visit the Delhi Metro Museum on the premises of the Patel Chowk Metro station, the official said. DMRC Managing Director Vikas Kumar and other senior officials from JICA (Japan International Cooperation Agency) India office accompanied the visitors. The DMRC shared pictures from the Japanese delegation visit on Twitter. The delegates have arrived in India from Japan for the several G20 meetings that are being host

Japan's benchmark Nikkei closes above 33K for the first time in 33 years

SoftBank Group jumped 5.25 per cent on reports