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☆ Japan's Alps Alpine says ex-worker arrested on suspected trade secret leak
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 5 (Reuters) - Japanese police have arrested a former worker of Alps Alpine (6770.T) on suspicion of stealing trade secrets, the Japanese electronic components maker said on Tuesday. Alps Alpine said it had brought a criminal complaint against the former employee after determining that the worker had stolen information. Kyodo News reported earlier that the arrested employee was a Chinese man in his 30s who had left Alps Alpine for a job at a major Japanese automaker, where he attempted to use the stolen data. Alps Alpine said in its statement that it would tighten compliance, declining to provide further details about the case citing ongoing police investigation. Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Satoshi Sugiyama, Chang, Ran Kim Organizations: Kyodo News, Thomson Locations: TOKYO, Chinese, Japanese

☆ Remains of five crew found after US Osprey aircraft crashes off Japan
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] A floating object believed to belong to the U.S. military aircraft V-22 Osprey that crashed into the sea is seen off Yakushima Island, Kagoshima prefecture, western Japan November 30, 2023, in this photo taken by Kyodo. Mandatory credit Kyodo via REUTERS Acquire Licensing RightsWASHINGTON/TOKYO, Dec 4 (Reuters) - U.S. and Japanese dive teams found the remains of five more crew members from a V-22 Osprey aircraft that crashed off western Japan last week, the Pentagon said on Monday. Two crew members remain unaccounted for. "There is an ongoing combined effort to recover the remaining crew members from the wreckage," Pentagon spokesperson Sabrina Singh said. Following the crash, the U.S. military unit that the V-22 Osprey aircraft belonged to suspended flight operations.

Persons: Sabrina Singh, Phil Stewart, Satoshi Sugiyama, Bernadette Baum, Alison Williams Organizations: Kyodo, REUTERS Acquire, WASHINGTON, Osprey, Pentagon, U.S ., ., U.S, Pacifist Japan, U.S . Marine Corps, Thomson Locations: Kagoshima prefecture, Japan, TOKYO, Yakushima, Tokyo, U.S, Washington

☆ Japan space agency hit with cyberattack, rocket and satellite info not accessed
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

A logo of Japan Aerospace Exploration Agency (JAXA) is seen in front of a gate at the JAXA Chofu Aerospace Center Aerodrome Branch in Tokyo January 22, 2013. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 29 (Reuters) - Japan's space agency was hit with a cyberattack but the information the hackers accessed did not include anything important for rocket and satellite operations, a spokesperson said on Wednesday. "There was a possibility of unauthorised access by exploiting the vulnerability of network equipment," the spokesperson at Japan Aerospace Exploration Agency (JAXA) said, declining to elaborate on details such as when the attack took place. The space agency learned of the possibility of the unauthorised access after receiving information from an external organisation and conducting an internal investigation, the spokesperson said, declining to identify the organisation's name. Japanese media reported Wednesday that the cyberattack occurred during the summer and the police became aware of the attack and notified JAXA this autumn.

Persons: Issei Kato, Satoshi Sugiyama, Tom Hogue, Gerry Doyle Organizations: Japan Aerospace Exploration Agency, JAXA, JAXA Chofu, Branch, REUTERS, Rights, Yomiuri, Thomson Locations: Tokyo

TOKYO, Nov 29 (Reuters) - A U.S. military V-22 Osprey aircraft crashed near an island in western Japan on Wednesday with eight people onboard, Japan's coast guard said. The aircraft disappeared from radar at 2:40 p.m. local time, Japan Chief Cabinet Secretary Hirokazu Matsuno said. Another crash-landed in the ocean off Japan's southern island of Okinawa in December 2016, prompting a temporary U.S. military grounding of the aircraft. The deployment of the Osprey in Japan has been controversial, with critics saying the hybrid aircraft is prone to accidents. The U.S. military and Japan say it is safe.

Persons: Hirokazu Matsuno, Kiyoshi Takenaka, Tim Kelly, Satoshi Sugiyama, John Geddie, David Dolan, Gerry Doyle Organizations: Osprey, U.S, Marines, U.S . Marines, U.S . Navy, Japan Self Defense Forces, Thomson Locations: TOKYO, U.S, Japan, Australia, Okinawa

☆ BOJ to end negative interest rates in 2024, over 80% of economists say: Reuters poll
▼ + stars: | 2023-11-22 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +4 min

While none of 26 economists predicted changes in the upcoming December BOJ meeting, many foresaw the negative rate policy, which has set Japan's short-term deposit rate at minus 0.1%, would reach the end of the line next year. In the Nov. 15-20 poll, 22 of 26, or 85%, of economists said the BOJ would end the policy by the end of next year. Having watered down YCC, the BOJ's next focus is to end its negative interest rate policy and push short-term rates to zero, sources previously told Reuters. Close to 85% of poll respondents forecast the BOJ would end its YCC policy, while the rest said it would tweak the scheme again, the poll found. EYES ON NEXT YEAROf 22 economists in the poll who chose 2024 for the end of negative rates, more than a half, 12, opted for the April 25-26 meeting.

Persons: Issei Kato, Kazuo Ueda, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Hiroshi Namioka, Namioka, Fumio Kishida's, Chiyuki Takamatsu, Satoshi Sugiyama, Veronica Khongwir, Sujith Pai, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Bank of, Reuters, Capital, Research Institute, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, D, Management, Fukoku Mutual Life Insurance, Thomson Locations: Tokyo, Japan, Bank of Japan

North Korea said it placed its first spy satellite in orbit on Tuesday. South Korea's military said North Korea's military reconnaissance satellite was believed to have entered orbit, but it would take time to assess whether it was operating normally. Critics have said the pact weakened South Korea's ability to monitor the North's near the border while North Korea had violated the agreement. South Korea said it was suspending a clause in the agreement and resuming aerial surveillance near the border. North Korea had notified Japan of a satellite launch after two failed attempts to put what it called spy satellites into orbit this year.

Persons: Kim, Kim Jong Un, KCNA, Adrienne Watson, Jonathan McDowell, Shin Won, sik, Kim Jong, Shin, Yoon Suk Yeol, Yoon, Moon Jae, Critics, Carl Vinson, U.N, Antonio Guterres, Vladimir Putin, Hong Min, Hyunsu Yim, hyang Choi, Josh Smith, Hyonhee Shin, Joyce Lee, Liz Lee, Satoshi Sugiyama, Ed Davies, Jack Kim, Gerry Doyle, Alex Richardson, Kim Coghill Organizations: Reuters, KCNA, REUTERS Acquire, North, ., U.S, Andersen Air Force Base, Pentagon, . National Security, Harvard – Smithsonian Center for Astrophysics, U.S . Space Force, South Korea's Defence, National Security, South Korean, Korea's Defence, Korea Institute for National Unification, South, U.S ., Thomson Locations: North Gyeongsang Province, North Korea, Korea, South Korea, SEOUL, United States, . North Korea, Pyongyang, Pacific, Guam, U.S, South, Britain, North, Santa Fe, Korean, Japan, China, North Korea's, RUSSIA, Russian, Russia, Minwoo, Seoul, Beijing, Tokyo

☆ Japan's export growth slows as China, global downturn risks loom
▼ + stars: | 2023-11-16 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

A worker is seen among newly manufactured cars awaiting export at port in Yokohama, Japan, November 15, 2017. Weak exports have complicated Japan's efforts to spur economic growth with sluggish domestic demand also weighing on the post-pandemic recovery. Japan's export growth slowsJapan's economy weakened in July-September, snapping two straight quarters of expansion on soft consumption and exports, data showed on Wednesday. By destination, exports to China, Japan's largest trading partner, fell 4.0% year-on-year in October, posting 11 straight months of declines. The trade balance came to a deficit of 662.5 billion yen ($4.38 billion), versus the median estimate for a 735.7 billion yen deficit.

Persons: Toru Hanai, Atsushi Takeda, Tetsushi Kajimoto, Satoshi Sugiyama, Sam Holmes Organizations: REUTERS, TOKYO, Ministry of Finance, Itochu Economic Research Institute, Thomson Locations: Yokohama, Japan, China, United States, Europe

☆ Car crashes into barricade near Israel embassy in Tokyo, man detained
▼ + stars: | 2023-11-16 | by ( Francis Tang | ) www.reuters.com time to read: +1 min

[1/5] A view of the scene after a car crashed into a barricade near the Israeli embassy in Tokyo, Japan, November 16, 2023. REUTERS/Kim Kyung-Hoon Acquire Licensing RightsTOKYO, Nov 16 (Reuters) - A car crashed into a barricade near the entrance of the Israeli embassy in Tokyo on Thursday and a man in his 50s was detained on the spot, local media reported. An official at the Israeli embassy said the matter was under police investigation and declined further comment. Several pro-Palestinian demonstrations have been held outside Israeli embassies around the world in recent weeks, including in Tokyo, in protest against Israel's bombardment of the Gaza Strip. Around the same time, a staffer at the Israeli embassy in Beijing was assaulted on the street and hospitalised.

Persons: Kim Kyung, Israel, Francis Tang, Satoshi Sugiyama, Mariko Katsumura, John Geddie, Christopher Cushing Organizations: REUTERS, Rights, Fuji, Police, Thomson Locations: Tokyo, Japan, Tama, Gaza, Israel, Beijing

☆ BOJ looks to corp profits, household incomes to boost wages, prices
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - The Bank of Japan (BOJ) will aim to create conditions for raising prices and lifting wages through increases in corporate profits and household incomes instead of cost-push inflation, its deputy governor Shinichi Uchida said on Tuesday. "The BOJ will continue to support economic activity and strive to create an environment wherein it's easy to raise wages," he said during a debate at the parliament's upper house committee on financial affairs. Even with upward pressure on long-term interest rates, the BOJ does not believe the 10-year yield will significantly exceed 1%, said Kazuhiro Masaki, director-general of the central bank's monetary affairs department. Reporting by Satoshi Sugiyama; Editing by Tom Hogue & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Shinichi Uchida, Kazuhiro Masaki, Satoshi Sugiyama, Tom Hogue Organizations: Bank of Japan, REUTERS, Rights, Thomson Locations: Tokyo, Japan

Japanese Finance Minister Shunichi Suzuki arrives for a news conference during the annual meeting of the International Monetary Fund and the World Bank in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Tuesday that the government would take all possible steps necessary to respond to currency moves, repeating his usual mantra that excessive swings were undesirable. Suzuki made the remarks when asked about impacts from the weak yen on households which have been pressured by rising living costs due to higher import prices for fuel and food. "What's important is to maximise positive effects from the weak yen while mitigating negatives," Suzuki told reporters. Japan last intervened in the currency market - selling dollars and buying yen - in October last year.

Persons: Shunichi Suzuki, Susana Vera, Suzuki, Shinichi Uchida, Tetsushi Kajimoto, Kaori Kaneko, Satoshi Sugiyama, Chang, Ran Kim Organizations: International Monetary Fund, World Bank, REUTERS, Rights, Japanese Finance, Bank, Bank of, Thomson Locations: Marrakech, Morocco, Japan, U.S

☆ Japan PM to sack deputy finance minister over tax scandal - NHK
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Fumio Kishida, Japan's prime minister, speaks during a news conference at the prime minister's official residence in Tokyo, Japan, November 2, 2023. Kiyoshi Ota/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Nov 13 (Reuters) - Japanese Prime Minister Fumio Kishida has decided to sack a deputy finance minister, public broadcaster NHK reported on Monday, after the official last week admitted to media reports that he had been delinquent on tax payments in the past. State Minister of Finance Kenji Kanda, who is in charge of government bonds and monetary policy, would be the third to leave a ministerial post in just two months since Kishida reshuffled his cabinet to improve tumbling public approval ratings. The report of Kanda's firing comes as the latest poll by broadcaster FNN showed the approval rating for Kishida's cabinet reaching a record low of 27.8%, sliding 7.8 points from last month. Reporting by Kantaro Komiya and Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Fumio, Kiyoshi Ota, Fumio Kishida, of Finance Kenji Kanda, Kishida, FNN, Kantaro Komiya, Satoshi Sugiyama, Chang, Ran Kim Organizations: Rights, NHK, of Finance, Thomson Locations: Tokyo, Japan

☆ Japan PM to Sack Deputy Finance Minister Over Tax Scandal - NHK
▼ + stars: | 2023-11-12 | by ( Nov. | At P.M. | ) www.usnews.com time to read: 1 min

TOKYO (Reuters) - Japanese Prime Minister Fumio Kishida has decided to sack a deputy finance minister, public broadcaster NHK reported on Monday, after the official last week admitted to media reports that he had been delinquent on tax payments in the past. State Minister of Finance Kenji Kanda, who is in charge of government bonds and monetary policy, would be the third to leave a ministerial post in just two months since Kishida reshuffled his cabinet to improve tumbling public approval ratings. The report of Kanda's firing comes as the latest poll by broadcaster FNN showed the approval rating for Kishida's cabinet reaching a record low of 27.8%, sliding 7.8 points from last month. (Reporting by Kantaro Komiya and Satoshi Sugiyama; Editing by Chang-Ran Kim)

Persons: Fumio Kishida, of Finance Kenji Kanda, Kishida, FNN, Kantaro Komiya, Satoshi Sugiyama, Chang, Ran Kim Organizations: NHK, of Finance Locations: TOKYO

The statement gave no details of options being discussed if the Hamas militant group is ousted from Gaza as the result of an ongoing Israeli bombardment of the Palestinian enclave. Israel has so far been vague about its long-term plans for Gaza. Diplomats in Washington, the United Nations, the Middle East and beyond have also started weighing the options. The statement will present the G7's "united stance" on the Middle East situation, Japan's Chief Cabinet Secretary Hirokazu Matsuno said on Wednesday. The G7 group of wealthy, industrialised nations is made up of Britain, Canada, France, Germany, Italy, Japan and the United States, with the European Union also participating in the talks.

Persons: Josep Borrell, James, Annalena Baerbock, Antony Blinken, Yoko Kamikawa, Benjamin Netanyahu, Israel, Eli Cohen, Hirokazu Matsuno, Netanyahu, John Geddie, Sakura Murakami, Satoshi Sugiyama, Lincoln, Gerry Doyle Organizations: European Union for Foreign Affairs, German, Foreign, Group, Wall Street Journal, Union, Gaza, Diplomats, United Nations, Reuters, European Union, Thomson Locations: British, U.S, TOKYO, Gaza, Tokyo, Japan, Israel, Ukraine, China, Washington, Palestinian, United States, Britain, Canada, France, Germany, Italy

☆ Japan's inflation-adjusted wages slip in September for 18th month
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Nov 7 (Reuters) - Japan's real wages slipped in September for an 18th month, government data showed on Tuesday, with rising prices squeezing consumers' purchasing power, and likely to add to pressure from labour groups for higher wage increases. Financial markets worldwide pay close attention to the wage trends in the world's third-largest economy. Inflation-adjusted real wages, a barometer of consumer purchasing power, dropped in September by 2.4% from a year earlier after a revised 2.8% fall the month before, data from the Ministry of Health, Labour and Welfare showed. Base salary growth in September advanced by 1.4% year-on-year, from a revised 1.2% increase the previous month, the data showed. Overtime pay, a gauge of business activity, went up in September by 0.7% year-on-year, after a revised 0.2% gain in August.

Persons: Androniki, Fumio Kishida's, Satoshi Sugiyama, Robert Birsel Organizations: REUTERS, Rights, Financial, Bank of Japan, Ministry of Health, Labour, Welfare, Rengo, UA, Thomson Locations: Tokyo, Japan, Base

☆ Japan service activity posts slowest growth this year - PMI
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 6 (Reuters) - Japan's services activity expanded at the slowest pace this year in October, a business survey showed on Monday, reinforcing concerns that the key sector propelling economic growth is continuing to soften. The final au Jibun Bank Service purchasing managers' index (PMI) fell to 51.6 in October from 53.8 in September, beset by weak demand. "While the PMI data continue to make positive reading for the Japanese service sector, the recent trends suggest that growth is on the wane," said Andrew Harker, economics director at S&P Global. Employment returned to growth, but retirements offset the overall pace of job creation, the survey found. The worsening conflict in the Middle East and slower growth in China cloud the outlook for Japan, among the largest economies in the world.

Persons: Andrew Harker, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank Service, P Global Intelligence, PMI, P, Employment, Thomson Locations: TOKYO, China, Japan

☆ NTT says to test driverless vehicle tech with Toyota, invest in US startup
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsTOKYO, Nov 6 (Reuters) - Japan's Nippon Telegraph and Telephone (NTT) (9432.T) plans to test driverless vehicle technology with Toyota Motor (7203.T) and invest in a U.S. startup developing self-driving systems, a spokesperson for the telecommunications firm said on Monday. The Nikkei newspaper first reported on Monday that NTT will invest in May Mobility, adding that both NTT and Toyota would jointly develop vehicles. Both the NTT spokesperson and a Toyota spokesperson said they had no plans for joint development. Cruise late that month suspended all driverless vehicle operations in the United States following an accident that led California regulators to order the company to remove its driverless cars from state roads.

Persons: David, Dee, Delgado, Cruise, Daniel Leussink, Maki Shiraki, Satoshi Sugiyama, Louise Heavens, Christina Fincher Organizations: New York, REUTERS, Rights, Japan's Nippon, Telephone, NTT, Toyota Motor, Nikkei, Toyota, Mobility, Tokio, Honda, General Motors, Cruise, Thomson Locations: Manhattan , New York City, U.S, Japan, Michigan, United States, California

☆ Japan on standby to deal with 'one-sided' yen moves - top FX diplomat
▼ + stars: | 2023-10-31 | by ( Takaya Yamaguchi | ) www.reuters.com time to read: +2 min

REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Nov 1 (Reuters) - Japan's top currency diplomat Masato Kanda said on Wednesday authorities were on standby to respond to recent "one-sided, sharp" moves in the yen, escalating his warning to investors against pushing down the currency too much. "Speculative trading seems to be the biggest factor behind recent currency moves," Kanda, vice finance minister for international affairs, told reporters on the yen's declines. The situation surrounding yen moves has become "more tense" than before, he said, adding that authorities will "respond appropriately without ruling out any options". After sliding to 151.715 against the dollar overnight on Tuesday, the yen stood at 151.350 in Asia on Wednesday. It intervened again in October 2022 after the yen plunged to a 32-year low of 151.94.

Persons: Masato Kanda, Issei Kato, Kanda, Takaya Yamaguchi, Satoshi Sugiyama, Leika Kihara, Sam Holmes Organizations: Reuters, Finance Ministry, REUTERS, Rights, Bank of Japan, Thomson Locations: Tokyo, Japan, Asia

☆ Global EV battery supply chain puzzles over China graphite curbs
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. China dominates the global EV battery supply chain including production of graphite - the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms. Under the new rules, China will require export permits starting Dec. 1 for high-end synthetic graphite, as well as key forms of natural graphite. NATURAL GRAPHITE HITGlobal companies using natural graphite include Hitachi Chemical, part of Japan's Resonac Holdings Corp (4004.T), South Korea's POSCO Future M (003670.KS) and Japan's Mitsubishi Chemical, which produces natural graphite at two plants in China, according to research firm CRU Group.

Persons: Fabian Bimmer, Sunit Kapur, Zhang Yan, Siyi Liu, Brenda Goh, Satoshi Sugiyama, Heekyong Yang, Seoul ， Paul Lienert, Jing Xu, Dominique Patton, Tony Munroe, David Evans Organizations: Volkswagen, REUTERS, Rights, EV, Qingdao, Reuters, China's Ministry of Commerce, Gotion High Tech, BTR, Material Technology, Hitachi Chemical, Japan's Resonac Holdings Corp, Mitsubishi Chemical, CRU Group, Mitsubishi, Resources, Materials, Thomson Locations: Salzgitter, Germany, Beijing, China, Japan, South Korea, United States, U.S, Shanghai, Ningbo Shanshan, Indonesia, Finland, Japan's, Australia, Mozambique, U.S ., Louisiana, North Carolina, Toyko, Seoul ，, Detroit

☆ Japan's factory, service sector activity under pressure in Oct - PMI
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Oct 24 (Reuters) - Japan's factory activity shrank for a fifth straight month in October while the service sector saw its weakest growth this year, a survey showed on Tuesday, amid growing uncertainty over the outlook for the world's third-largest economy. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) remained flat at 48.5 in October. However, the October PMI data indicated further softening in the service sector, which anchored Japanese economy over recent quarters. The au Jibun Bank flash services PMI fell further to 51.1 in October from 53.8 in September last month, marking the slowest rate of growth since the beginning of this year. The au Jibun Bank Flash Japan composite PMI, which combines both manufacturing and service sector activity, fell to 49.9 in October from 52.1 in September, dropping below into contractionary territory for the first time since December.

Persons: Toru Hanai, Jingyi, Satoshi Sugiyama, Sam Holmes Organizations: REUTERS, Rights, PMI, P Global Market Intelligence, Jibun Bank Flash Japan, Thomson Locations: Kawasaki, Japan

☆ Rakuten to invest $363 million in better frequency cell base
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Rakuten is pictured in Yokohama, Kanagawa, Japan, Aug 2, 2023. REUTERS/Miho Uranaka/File Photo Acquire Licensing RightsTOKYO, Oct 23 (Reuters) - Japan's Rakuten Group (4755.T) on Monday said it would invest 54.4 billion yen ($362.81 million) to construct cellular base stations, just after the government announced it had assigned the company's carrier better frequency for connection. The announcement could boost the company's mobile phone business that has struggled to take market share from cash-rich incumbents known for high-quality networks. Rakuten said it plans to open 10,661 base stations for the "platinum band" frequency and expects its cell phone business to turn profitable in 2026. The company is sticking to a plan to reduce capital expenditure by about 300 billion yen between 2023 and 2025, a spokesperson said.

Persons: Miho Uranaka, Rakuten, Satoshi Sugiyama, Barbara Lewis Organizations: REUTERS, Rights, Thomson Locations: Yokohama, Kanagawa, Japan

Japan's vice minister of finance for international affairs, Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan January 31, 2022. Masato Kanda, vice finance minister for international affairs at Japan's Ministry of Finance (MOF), also said that if excessive moves occurred in the currency market, the government would take steps such as raising interest rates or intervening in the market. "We will firmly take appropriate steps when necessary," Kanda told reporters during an ad hoc news conference. Various factors determine currency rates and long-term interest rates are "only one factor", Kanda said. "Relatively speaking, global funds are still flowing into the dollar, yen and Swiss franc and pound, with many people describing the moves as 'textbook-style' moves," he said, referring to safe-haven flows.

Persons: Masato Kanda, Issei Kato, Kanda, Tetsushi, Toby Chopra, Mark Potter Organizations: Reuters, Finance Ministry, REUTERS, Rights, Swiss, Japan's Ministry of Finance, International Monetary Fund, Hamas, Thomson Locations: Tokyo, Japan, Israel, Palestinian

☆ Honda, Mitsubishi Corp sign pact to optimise use of EV batteries
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] Honda's electric vehicle (EV) e:NP2 is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsTOKYO, Oct 12 (Reuters) - Japanese automaker Honda Motor (7267.T) and trading house Mitsubishi Corp (8058.T) have signed a pact to explore new businesses using electric vehicle (EV) batteries, the companies said on Thursday. "Honda will not only sell EVs, but take a proactive approach to energy management, where EV batteries will be utilised as an energy source," its chief executive, Toshihiro Mibe, said in a statement. Honda will begin sales of the EV model in Japan in 2024. The deal would eventually pay off in lower electricity bills for customers and better use of battery material, the companies said.

Persons: Aly, Honda, Toshihiro Mibe, Satoshi Sugiyama, Clarence Fernandez Organizations: Auto, REUTERS, Rights, Honda, Mitsubishi Corp, EV, Thomson Locations: Auto Shanghai, Shanghai, China, Japan, EVs

☆ Many factors to consider if FX moves are 'excessive' -Japan finmin
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Oct 6 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Friday there were many factors to consider in determining whether moves in the foreign exchange market were "excessive", adding that there were no changes in how the government would deal with them. Investors often think excessive volatility can be measured over a period of one day or so. "There's no change in the government stance," Suzuki said, when asked about intervention and what defines an excessive move. The minister added that authorities should make a comprehensive judgment on what constitute excessive moves, taking various factors into account.

Persons: Shunichi Suzuki, Shuji, Masato Kanda, Suzuki, Tetsushi Kajimoto, Satoshi Sugiyama, Jacqueline Wong, Jamie Freed Organizations: Toki, Rights, Japanese Finance, Thomson Locations: Niigata, Japan

☆ Japan's inflation adjusted wages extend declines in August
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Oct 6 (Reuters) - Japan's real wages in August declined for a 17th straight month, government data showed on Friday, as persistent price hikes continued to outpace salaries. Separate data on Friday showed Japan's consumer spending also shrank for the sixth consecutive month in August, squeezing consumers' purchasing power even as major companies offered their biggest pay increases in three decades. The consumer inflation rate officials use to calculate real wages, which includes fresh food prices but excludes rent, slowed to 3.7%, the lowest in 11 months. Base salary growth in August climbed 1.6% year-on-year, from a revised 1.4% gain in the previous month, the data showed. "As import prices settle down, the growth rate of consumer inflation is also expected to gradually narrow, and real wages will also recover," Koike said.

Persons: Masato Koike, Fumio Kishida, Sompo's Koike, Koike, Satoshi Sugiyama, Kantaro, Christian Schmollinger, Sam Holmes Organizations: Global, Bank of Japan, Sompo, Ministry of Health, Labour, Welfare, Thomson Locations: TOKYO, Base

☆ NTT Docomo forms capital tie-up with Monex to strengthen financial business
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 4 (Reuters) - Japanese mobile operator NTT Docomo said it formed a capital tie-up with fintech firm Monex Group (8698.T) on Wednesday to build a new financial services business centred on managing its customers' assets. Monex's brokerage unit Monex Inc will form an intermediate holding company in which Docomo will take a 49% stake and make its consolidated subsidiary, Docomo said. Docomo will buy shares of the intermediate holding company from Monex Group for 46.56 billion yen ($312.00 million) and subscribe to a third-party allotment of shares worth 2 billion yen, Monex said. ($1 = 149.2300 yen)Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Docomo, Monex, Satoshi Sugiyama, Chang, Ran Kim Organizations: NTT Docomo, Monex Group, Thomson Locations: TOKYO

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