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[1/2] Union workers of Sogo & Seibu hold banners which read 'on strike' in front of the company's flagship Seibu Ikebukuro store in Tokyo, Japan August 31, 2023. Some 900 workers at the flagship Seibu store in the bustling district of Ikebukuro are protesting the sale of Sogo & Seibu, a unit of retail giant Seven & i (3382.T), to U.S. fund Fortress Investment Group. This one-day strike - the first at a major Japanese department store in 61 years - followed months of negotiations between Sogo & Seibu management and the workers' union, and comes amid a labour shortage in Japan. Other Seibu and Sogo department stores were open for business as usual. The Seibu Ikebukuro store is Japan's third-largest department store by sales, according to media reports, but its owner Sogo & Seibu has been in the red for the last four years.

Persons: Irene Wang, Isetan Mitsukoshi, Wakana Shuto, Stephen Givens, it's, Ritsuko Shimizu, Mariko Katsumura, Kaori Kaneko, Rocky Swift, Chang, Ran Kim, Edwina Gibbs, Stephen Coates, Miral Organizations: Union, Sogo, Seibu, company's, REUTERS, Workers, Fortress Investment Group, Yodobashi Holdings, Rikkyo, Japan Inc, Thomson Locations: Tokyo, Japan, U.S, TOKYO, Ikebukuro, Sogo, Seibu Ikebukuro

☆ China suspends all seafood imports from Japan after treated radioactive water is released from Fukushima
▼ + stars: | 2023-08-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

China on Thursday suspended the import of all aquatic products from Japan, including edible seafood, hours after its neighbor started releasing treated radioactive water from the stricken Fukushima nuclear power plant. Seafood imports from Japan include red sea bream, scallops, and mackerel, according to Japan's Ministry of Agriculture, Forestry and Fisheries. The discharge of the treated water was expected to start after 1 p.m. Toyko time, according to media reports citing state owned electricity firm TEPCO. The IAEA will have a presence on site "for as long as the treated water is released, in line with Director General Grossi's commitment for the IAEA to engage with Japan on the discharge of ALPS treated water before, during, and after the treated water discharges occur." ALPS refers to the Advanced Liquid Processing System that at Fukushima, which removes radioactive material from the wastewater before it is released.

Organizations: Tokyo Electric Power Company, Japan's Ministry of Agriculture, Forestry, Fisheries, TEPCO, International Atomic Energy Agency, IAEA, Japan's Embassy Locations: Tokyo, China, Japan, Fukushima, London

☆ A Simpler, Sleeker Japan Inc. Could Reward Investors
▼ + stars: | 2023-08-07 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, 19d84d5e Locations: japan

☆ Nidec's acquisitive CEO hails new Japan rules aimed at making takeovers easier
▼ + stars: | 2023-07-23 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +3 min

[1/2] Nidec Corp's logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. Nagamori welcomed the prospect of Japan becoming more receptive to unsolicited bids. Because unsolicited bids are seen as taboo, Nidec has typically focused on buying and turning around money-losing companies, he said, but "that takes time". In corporate Japan, unsolicited bids have been seen as too adversarial. he said, referring to Nidec's tender offer price with an 80% premium.

Persons: Kim Kyung, Shigenobu Nagamori, Nagamori, Nidec, Makiko Yamazaki, Miho Uranaka, Robert Birsel Organizations: REUTERS, Thomson Locations: Tokyo, Japan, TOKYO

Japanese Prime Minister Fumio Kishida set a target in June for women to hold at least 30% of executive positions at leading companies by 2030. The latest initiative to raise female management participation was announced to boost female roles from 2.2% as of July 2022. The results reflect the lack of momentum in Japan towards enhancing the role of women in the workforce to improve diversity and boost economic growth. Respondents to a Reuters survey two years ago were also pessimistic of expanding their female executive ranks. More than half of companies polled said they have hired or plan to hire female managers externally, with 45% of companies introducing or planning to introduce measures to help juggle work and home life.

Persons: Fumio Kishida, Sam Nussey, Anton, Christian Schmollinger Organizations: Japan, Nikkei, Reuters, Nikkei Research, Thomson Locations: TOKYO, Japan, China, Saudi Arabia, Turkey, Japan's

☆ Japan increases support for domestic EV battery output
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

The move shows Tokyo is confident about ramping up battery production support after the United States and Japan struck a deal on electric vehicle (EV) battery minerals in March that is key to giving Japanese automakers wider access to a new $7,500 U.S. EV tax credit. The government will support Toyota for up to 117.8 billion yen ($841 million) in subsidies for its investment in EV battery production, Nishimura said, adding he hoped it would strengthen Japan's storage battery supply chain. Japan has designated batteries for energy storage, including car batteries, as important under an economic security law. It had announced 184.6 billion yen in support for storage battery-related proposals at that time. Friday's announcement of 127.6 billion yen in subsidies brought the total so far to 312.2 billion yen.

Persons: Aly, Industry Yasutoshi Nishimura, Nishimura, METI, Japan's, David Dolan, Daniel Leussink, Hugh Lawson, Sonali Paul, David Evans Organizations: Auto Shanghai, REUTERS, Toyota, EV, Economy, Trade, Industry, Union, Toyota Industries, Honda, Thomson Locations: Shanghai, China, TOKYO, Japan, Tokyo, United States, U.S

☆ Japan’s economic scars might blind it to inflation
▼ + stars: | 2023-06-13 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +8 min

Investors worry about market ructions if Ueda hikes rates now but there is another risk: that he waits too long. Reuters GraphicsUeda’s inaction – and the domestic markets’ positive response – have bought him time to focus on evaluating macroeconomic fundamentals, particularly inflation. The country only emerged from a decades-long deflationary rut relatively recently, so local economists, executives and consumers are unused to worrying about consumer prices rising too fast. The government’s latest draft of its long-term economic plan, seen by Reuters on June 2, remains focused on eradicating Japan's “long-held deflationary mindset”. "We expect inflation to quite clearly slow below 2%" toward the middle of the current fiscal year, Ueda told parliament.

Persons: Kazuo Ueda, Haruhiko Kuroda, Ueda, ’, –, Richard Koo, Shinzo Abe, Francesco Guerrera, Katrina Hamlin Organizations: Reuters, Bank of Japan, Nikkei, Nasdaq, Bank for International, Toyota, Toshiba, Black Monday, Japan Inc, International Monetary Fund, of, Thomson Locations: TOKYO, Japan, United States, U.S, Great, China, Europe, Germany, Italy, of Japan’s

☆ Japan optimism has been fueled by 'game-changing' reforms and Warren Buffett: Here's what you need to know
▼ + stars: | 2023-06-13 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

The Tokyo Exchange Group recently finalized its market restructuring rules. Warren Buffett's bullish calls on Japanese equities has also helped boost confidence among foreign investors. It could in turn lead to a domino effect among other Japanese companies once the big players start to make changes. Corporate governance is the "third arrow" of the three core tenets of Abenomics — monetary easing and fiscal stimulus are the other two. Buffett's May disclosures helped spur 10 straight weeks of net foreign purchases of Japanese equities.

Persons: Richard A, Brooks, Oliver Lee, Warren Buffett's bullish, —, Yunosuke Ikeda, Nomura's Ikeda, Shinzo Abe, Warren, Berkshire, Asli, Shuntaro Takeuchi, Matthews Asia, Buffett, Berkshire Hathaway, that's, Matthews Asia's Takeuchi, We're, Oliver Lee Eastspring, Eastspring's Lee Organizations: Afp, Getty, Nikkei, Tokyo Stock Exchange, Tokyo Exchange Group, CNBC, Tokyo bourse, Berkshire Hathaway, Kyoto, Investing, Buffett, Foreigners, Japan Ministry of Finance, Kyoto University's Graduate School of Management, Graduate School of Economics, Mitsui & Co, Hitachi Locations: Japan, Tokyo, Singapore, Abenomics, San Francisco

The Bank of Japan is the only major central bank that now has negative rates following aggressive tightening globally to combat inflation. It has hinted that it will alter yield curve control -- where it guides short-term rates at -0.1% and 10-year Japan government bond yield around zero -- at some point. Japanese investors hold around $1.84 trillion in foreign assets, according to Deutsche Bank. "Recent inflows into Japanese markets are mainly driven by the foreign investors," Murao said. "We do not really have a global champion such as Google, Amazon, or Meta in the Japanese markets," Murao added.

Persons: Florence Lo, Yuichi Murao, Murao, I've, Amanda Cooper, Dhara, Christina Fincher Organizations: REUTERS, Nomura Asset Management, Reuters, The Bank of Japan, Nomura, Management, Equity, Treasury, Nikkei, Deutsche Bank, Apple, Visa, Toyota, Sony, PlayStation, Thomson Locations: Japan, Tokyo

☆ 7-Eleven spin-off would jeopardise growth, CEO says, pushing back at ValueAct
▼ + stars: | 2023-05-05 | by ( Ritsuko Shimizu | ) www.reuters.com time to read: +2 min

TOKYO, May 5 (Reuters) - A spin-off of 7-Eleven would jeopardise the convenience store chain's future growth by cutting it off from its parent's strength in the food business, the chief executive of Japan's Seven & i Holdings Co Ltd (3382.T) told Reuters. ValueAct has long been critical of Seven & i's conglomerate structure, calling for a spin-off of the 7-Eleven chain or for a sale of the entire company, but Isaka said that would not be in the chain's best interests. "The risk and probability of 7-Eleven Japan's growth coming to a halt would be very high if the company's product development resources were to be cut off," he said. In April, ValueAct ratcheted up the pressure on the company, calling for Isaka's departure and saying he was responsible for a "flawed strategy". Isaka said 7-Eleven is reliant on staff and know-how from Seven & i's supermarket businesses, such as Ito-Yokado, in developing products for its "Seven Premium" private brand.

☆ BOJ’s new governor has relaxed debut
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

What once looked solely like temporary “cost-push” hikes engendered by volatile energy and food prices are starting to look more entrenched. Instead Ueda kept YCC in place and tweaked the forward guidance to remove reference to pandemic-related risks. The BOJ predicts inflation will fall back below 2% soon and plans a policy review over the next year or so. That suggests the BOJ is more worried about weak growth – it expects 1.4% this fiscal year - than inflation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Analysis: Investors seek to break through Japan Inc's 'value trap'
▼ + stars: | 2023-04-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

SINGAPORE, April 20 (Reuters) - Corporate governance in Japan has suddenly become a cause celebre, rousing the world's third-largest stock market out of decades of lethargy and drawing in hordes of foreign investors. Japan's stock market has long been seen by investors as a 'value trap' where companies focus on market share, hoard cash and care little about shareholder returns. What has prompted investors globally to sit up and take notice is an endorsement from legendary billionaire investor Warren Buffett. The MSCI Japan Value index (.dMIJP0000VPUS) is up 9% since August 2020 versus a 9% drop for the MSCI Japan growth index (.dMIJP0000GPUS). "I think the value trap that was Japan is no longer."

☆ Buffet breaks out of Japan’s value trap
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, April 12 (Reuters Breakingviews) - Berkshire Hathaway (BRKa.N) has upped its stake in iconic Japanese trading houses, according to an interview boss Warren Buffett gave the Nikkei newspaper on Tuesday. Worries that the nonagenarian was walking into Japan’s infamous “value trap” now look overwrought. The rise in global interest rates and the popping of the tech bubble have pushed funds back into the boring nuts and bolts companies Buffett loves. Given that the trading houses are themselves Berkshire-like investors, Buffett says he is open to doing deals with them, and investing more in Japan. The hedge funds and activist investors who have been banging their heads against Japan Inc might watch what Buffett does next.

☆ Credit Suisse reinforces Japan’s offshore anxiety
▼ + stars: | 2023-03-21 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, March 21 (Reuters Breakingviews) - The crisis at Credit Suisse has traders wondering who’s next. Japanese lenders, with their staid depositor bases, look like unlikely targets for bank runs. Yet the rising cost of short-term dollar and euro credit, combined with extreme yen volatility, have made hedging much more expensive. Domestic commercial lenders alone held $600 billion of international debt securities at the end of 2022, and some look overexposed. Take Japan Post Bank (7182.T), a $32 billion institution whose parent is partly owned by the Ministry of Finance.

☆ Japan's big firms offer largest pay rises in decades
▼ + stars: | 2023-03-15 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

The Rengo umbrella labour group has called for a 5% pay increase. The JERC survey showed that excluding seniority-based pay, base compensation that boosts fixed labour costs accounts for just 1.08%. "We need to focus on base pay. Workers from Japan's largest group of trade unions last week struck early agreements for hefty wage hikes. Unions have historically tended to settle for relatively meagre pay hikes around 2% in recent years, as unions are inclined to cooperate with management in keeping job security rather than aggressively demanding pay rises.

☆ Japan's big firms set to offer biggest pay rises in decades
▼ + stars: | 2023-03-14 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

Given that consumer inflation, at 4.1%, outpace wage hikes, pay rises of 3% or more need to continue in the coming years to sustain price stability at 2%, said Hisashi Yamada, senior economist at Japan Research Institute. "Average wage hikes that are consistent with the central bank's 2% price target are 3% which can be met this year albeit temporarily," Yamada said. Kishida's government will likely hold a joint three-party meeting with labour and management for the first time in eight years on Wednesday to ensure structural wage hikes. Workers from Japan's largest group of trade unions last week struck early agreements for hefty wage hikes. 1 automaker, and Honda, have also secured their biggest pay rises in decades.

"Credit Suisse remains committed to our investment banking & capital markets clients throughout the APAC (Asia Pacific) region," the company told Reuters in response to a query. Credit Suisse's restructuring plan includes creating a separate unit for its investment bank under the CS First Boston brand. Reuters was not immediately able to ascertain whether the few remaining staff at Credit Suisse's Japanese investment banking division would be shifted to the new unit. Credit Suisse also runs wealth management, equity research, securities trading and asset management businesses in Japan. Some of the major deals that Credit Suisse advised on in Japan included Hitachi Ltd's (6501.T) $9.6 billion acquisition of U.S. software company GlobalLogic Inc.

☆ Japan’s next central bank chief may rue promotion
▼ + stars: | 2023-02-13 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +7 min

In fact, it has spent an average of 1.3 trillion yen per trading day since the band widened: nearly 50 trillion yen in total, per Refinitiv data, and still counting. The central bank already owns over half of Japan’s sovereign bonds and is sure to suffer large losses when their prices fall, which they eventually must. The central bank chief must also work to put the country’s vast stack of inert money back to work. Kuroda effectively put the central bank at the service of former Prime Minister Shinzo Abe’s “Abenomics” stimulus programme. Fumio Kishida, the current leader, is having popularity problems and will want the central bank to support his aggressive agenda, which includes hiking defence spending, promoting innovative startups and redistributing wealth.

☆ S&P warns of possible economic blow, hit to Japan Inc from BOJ rate hike
▼ + stars: | 2023-02-09 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

TOKYO, Feb 9 (Reuters) - A future Bank of Japan (BOJ) interest rate hike could affect the country's sovereign debt rating if firms struggle to absorb rising funding costs, an official at S&P Global Ratings said on Thursday. Japanese bond yields have crept up on market expectations the BOJ will phase out its yield control policy and start raising interest rates under a new governor who succeeds incumbent Haruhiko Kuroda in April. S&P expects the BOJ to tighten policy only gradually with the near-term impact on the economy likely limited, Tan added. S&P currently assigns an "A+" long-term and "A-1" short-term sovereign debt ratings on Japan. The outlook on the long-term rating is stable.

☆ Mitsubishi, Lotte, and RWE form alliance to study clean ammonia in Texas project
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

[1/3] The logo of Mitsubishi Motors Corp is seen at a showroom of the company's headquarters in Tokyo, Japan November 20, 2018. REUTERS/Toru HanaiFeb 8 (Reuters) - Japan's Mitsubishi Corp (8058.T) said on Wednesday it has agreed to jointly study the prospect of producing clean ammonia with South Korea's Lotte Chemical Corp (011170.KS) and German energy firm RWE (RWEG.DE) in the U.S. state of Texas. RWE, Lotte and Mitsubishi have signed a joint study agreement for clean ammonia production and export project in Port of Corpus Christi in Texas, part of the alliance to develop green and blue ammonia supply chains in Asia, Europe and the United States, the Japanese trading company said in a statement. First production is targeted by 2030 and to be gradually increased to up to 10 million tonnes of clean ammonia per year at multiple production units, the statement added. Reporting by Katya Golubkova; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ China's BYD dreams big in auto powerhouse Japan
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

YOKOHAMA, Japan, Jan 31 (Reuters) - China's BYD Co Ltd (002594.SZ) unveiled its first dealership in Japan on Tuesday, taking on one of the biggest challenges in its explosive global rise as it seeks to win over customers deeply loyal to their own auto industry. BYD, an acronym which stands for Build Your Dreams, has ambitious plans to open more than 100 dealerships in Japan by the end of 2025. "If customers trust us and give BYD a try, we'll have a good chance (at succeeding)," BYD Auto Japan Inc President Atsuki Tofukuji told Reuters at a media event to mark the opening of its maiden outlet in Yokohama, Japan's second largest city. About 30 people have contacted the Yokohama dealership to enquire about the new cars, according to Kazuhisa Okamoto, who runs the store. ($1 = 130.39 yen)Reporting by Daniel Leussink; editing by John Geddie and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Japan Inc strives to lure skilled workers as inflation, labour crunch bite
▼ + stars: | 2023-01-30 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +7 min

[1/2] A worker assembles an air drill at the factory of manufacturer Katsui Kogyo in Higashiosaka, Japan June 23, 2022. About a quarter of Japanese firms have offered inflation allowances or plan to do so, said corporate credit research firm Teikoku Databank. read moreThe private sector expects the drive to help boost productivity, meshing with Prime Minister Fumio Kishida's "new capitalism" initiative on wealth distribution that put a top priority on wage hikes. "Bonuses or inflation allowances would have only a limited impact on easing the pain of cost-push inflation, as consumers tend to save one-off payouts rather than spend," added Kiuchi, now an executive economist at the Nomura Research Institute. Workers have high expectations from this year's labour talks, which they hope will counter cost-push inflation while tackling the tight labour market to help boost the economy.

☆ Toshiba buyout heralds a big step back for Japan
▼ + stars: | 2023-01-20 | by ( Una Galani | ) www.reuters.com time to read: +7 min

MUMBAI, Jan 20 (Reuters Breakingviews) - The end of a long battle to wring some value from Toshiba (6502.T) is finally within reach. Such an outcome won’t encourage private equity firms, and big policy shifts underway may stifle the industry just as it hits a new high. Instead, after an accounting scandal in 2015, Toshiba came to epitomise Japan Inc’s pervasive value destruction. Japan typically outperforms private equity deals in other developed markets, partly because existing incentive structures for company bosses are so poor. The country’s private equity industry is only just finding its feet.

Yet the small companies that provide most of Japan's jobs generally can't increase pay, business owners, economists and officials say. Battered by the pandemic, small firms now struggle to pass on higher costs out of fear of losing customers. They feel they have no choice but to put up with impossible demands from big companies." The trend is most apparent in industries with many small suppliers. The fair trade watchdog last month named 13 big companies it said refused to accept higher prices from suppliers.

President Biden and Japanese Prime Minister Fumio Kishida are meeting at the White House on Friday. President Biden met with Japanese Prime Minister Fumio Kishida at the White House on Friday as the U.S. and Japan increase security cooperation to counter China’s military buildup. “To be crystal clear, the United States is fully, thoroughly, completely committed to the alliance—and more importantly to Japan’s defense,” Mr. Biden said, kicking off their meeting in the Oval Office.

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