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☆ Japan Q1 economy expands annualised 1.6% qtr/qtr
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 17 (Reuters) - Japan's economy grew an annualised 1.6% in January-March from the previous quarter, as firm private consumption and an unexpected rise in capital expenditure offset shrinking external demand, government data showed on Wednesday. The first-quarter gross domestic product figures was much larger than economists' median estimate for a 0.7% annualised growth. Domestic private consumption, which makes up more than half the economy, grew 0.6% quarter-on-quarter in January-March, and capital expenditure, a key engine of growth, gained 0.9%, against economists' estimate for a decrease. External demand, or net exports, shaved off 0.3 percentage point off the first-quarter gain, which was more than offset by positive domestic-demand contribution of 0.7 percentage point. Reporting by Tetsushi Kajimoto and Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Yahata is a 'hibakusha', a survivor of the atomic bomb dropped on the city of Hiroshima by the United States. While talks by hibakusha have become a regular feature of the city's memorial sites, Yahata stands out for her presentations in English. Resolving to learn English, she began taking classes at the YMCA as she headed into her 80s, and by 2021, was giving her presentations exclusively in English. Yahata's English ability is mostly limited to reading the script, but the impact of her spoken words on the audience is undeniable, moving some to tears. Japanese Prime Minister Fumio Kishida is hosting the G7 summit in Hiroshima, his home constituency, starting on Friday.

☆ Japan, South Korea to link radar systems to track N.Korea missiles -source
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 9 (Reuters) - Japanese and South Korean defence authorities are set to agree early next month to link their radars via a U.S. system to share real-time information on North Korea's ballistic missiles, a person with knowledge of the matter said on Tuesday. With North Korea launching ballistic missiles at an unprecedented pace in the past year, the three countries in November agreed to speed up information-sharing. Japan and South Korea are independently linked to the United States' radar systems but not to each others'. Ties between the United States' Asian allies have warmed in recent months in the face of the North Korean threat. Resuming their "shuttle diplomacy", Japanese Prime Minister Fumio Kishida met with South Korean President Yoon Suk Yeol in Seoul on Sunday, where they confirmed progress in defence cooperation.

☆ Japan's Hamamatsu Photonics says Denmark denies approval for NKT Photonics acquisition
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 8 (Reuters) - Japan's Hamamatsu Photonics KK (6965.T) said on Monday that Danish authorities had rejected a European subsidiary's application to acquire Copenhagen-based fibre laser manufacturer NKT Photonics A/S from NKT A/S (NKT.CO). Hamamatsu Photonics had announced plans for the takeover last June for about 205 million euros ($226 million) to expand application of its laser diode business based on compound semiconductor manufacturing technology. NKT Photonics' lasers could be used for inspection of cutting-edge semiconductor devices, among other applications, it had said. "We are currently considering further actions in relation to the decision," Hamamatsu Photonics said in a statement on Monday. The Danish Business Authority said the denial was in accordance with the Danish Investment Screening Act.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. It also came as Asian policymakers, gathering for the annual Asian Development Bank (ADB) meeting this week in the South Korean city of Incheon, discussed regional economic challenges and ways to beef up buffers against various shocks. In a joint statement issued after their meeting on Tuesday, Asian finance leaders warned of risks to the region's economy and called for countries to stay vigilant to potential spillovers from the recent U.S. and European banking sector turmoil. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Washington has pressed both countries to resolve these disputes to better counter rising threats from China and North Korea and other regional challenges. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea. China's finance minister and central bank head were not present at a trilateral meeting, with their deputies attending instead.

SummarySummary Companies Japan, South Korea hold 1st bilateral finance meeting in 7 yearsTwo nations to resume regular finance dialogue, likely annualAsia policymakers to discuss safeguardsINCHEON, South Korea May 2 (Reuters) - Japan and South Korea held their first finance leaders' meeting in seven years on Tuesday and agreed to resume regular dialogue, as tensions in the region and slowing growth prod them to increase co-operation and mend strained relations. The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea next week for talks with President Yoon Suk Yeol. "Japan and South Korea are important neighbours that must cooperate to address various challenges surrounding the global economy, as well as the regional and international community," Japanese Finance Minister Shunichi Suzuki said at the meeting with his South Korean counterpart Choo Kyung-ho. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

SummarySummary Companies Japan, S.Korea must address geopolitical challenges - SuzukiS.Korea's Choo urges Japan to restore 'white list' statusResumption of dialogue underscores mending relationsINCHEON, South Korea May 2 (Reuters) - Japan and South Korea held their first bilateral finance leaders' meeting in seven years on Tuesday, a sign relations between the two are thawing amid shared challenges from geopolitical tensions and slowing economic growth. The resumption of bilateral financial talks comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea next week for talks with President Yoon Suk Yeol. "As for geo-political challenges, we're experiencing incidents like North Korea's nuclear missile development and Russia's invasion of Ukraine. Regular annual dialogue between the two countries' finance ministers has been suspended since 2016 due to disputes over wartime history. Suzuki said he hoped Japan and South Korea can continue with bilateral financial dialogue and that doing so would contribute to improving relations between the two countries.

☆ Japan, South Korea finance ministers meet for 1st bilateral meeting in 7 years
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

INCHEON, South Korea May 2 (Reuters) - Japanese Finance Minister Shunichi Suzuki and his South Korean counterpart Choo Kyung-ho on Tuesday met on the sidelines of the Asian Development Bank (ADB) annual meetings held this week. It was the first bilateral finance leaders' meeting in seven years, highlighting improving relations between Japan and South Korea in the face of North Korea's frequent missile launches and China's more muscular role on the global stage. Reporting by Leika Kihara and Jihoon Lee Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

The Japanese company said it expects operating profit in the year to March 31 to fall 3.2% to 1.17 trillion yen ($8.65 billion), lower than an analysts' average estimate of a 1.275 trillion yen profit, according to Refinitiv data. For this business year, the company forecast profit at its gaming and network unit to rise by 8% to 270 billion yen. Software sales ought to have grown in tandem with hardware," Yasuda said. Sony also predicted that image sensor operating profit will dip by 5.8% to 200 billion yen. The firm said overall operating profit for the three months that ended March 31 fell 7.3% to 128.5 billion yen, with full year profit nudging up to a record 1.21 trillion yen.

[1/6] Takeshi Hakamada, "ispace" 's founder and chief executive, is pictured at a venue to watch landing of the lander in HAKUTO-R lunar exploration program on the Moon, in Tokyo, Japan, April 26, 2023. REUTERS/Kim Kyung-HoonTOKYO, April 25 (Reuters) - Japanese startup ispace (9348.T) said its attempt to make the first private moon landing had failed on Tuesday after losing contact with its Hakuto-R Mission 1 (M1) lander, concluding it had most likely crashed on the lunar surface. The M1 lander appeared set to autonomously touch down about 12:40 p.m. Eastern time (1640 GMT Tuesday) after coming as close as 295 feet (90 meters) from the lunar surface, a live animation of the lander's telemetry showed. The company said in a statement Wednesday in Japan that it believes the spacecraft may have made a "hard landing" on the lunar surface. The M1 also carried an experimental solid-state battery made by NGK Spark Plug Co (5334.T), among other objects to gauge how they perform on the moon.

[1/6] Takeshi Hakamada, "ispace" 's founder and chief executive, is pictured at a venue to watch landing of the lander in HAKUTO-R lunar exploration program on the Moon, in Tokyo, Japan, April 26, 2023. But a lunar landing would be an ambitious feat for a private firm. The Japanese firm "determined that there is a high probability that the lander eventually made a hard landing." In disclosure to the Tokyo Stock Exchange, ispace said it did not expect an immediate impact on its earnings forecast. The lander completed eight out of 10 mission objectives in space that will provide valuable data for the next landing attempt in 2024, Hakamada said.

The incident exposes vulnerabilities in Japan's security system and a failure to institute changes following the killing of former prime minister Shinzo Abe during an election campaign last year, four experts interviewed by Reuters said. Fukuda said for such big, international events, authorities are able to provide solid security by mobilising a huge police presence. The government has instructed authorities to strengthen security measures and to ensure safety precautions at gatherings of VIPs, he added. read moreIn Saturday's attack, the suspect was about 10 metres from Kishida, according to media reports. He said it showed that a review of security plans by the National Police Agency could only go so far.

☆ Japan approves Osaka as site of country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. Put forth by the city and Osaka prefecture, the project aims to open a casino, conference centre and other facilities in 2029 with 1.8 trillion yen ($13.5 billion) of initial investment. MUFG Bank (8306.T) and Sumitomo Mitsui Banking Corp (8316.T) will provide 550 billion yen in project financing for the resort, the document showed. The national government's decision came after the pro-casino Japan Innovation Party retained both the office of prefectural governor and city mayor in Osaka on Sunday. Japan's casino plans have faced a number of obstacles such as the coronavirus pandemic and a bribery scandal.

☆ Japan approves $13.5 bln Osaka resort, country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T) have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. The national government's decision came after the pro-casino Japan Innovation Party retained the prefectural governor and city mayor offices in Osaka on Sunday. Major casino operators Las Vegas Sands Corp (LVS.N), Caesars Entertainment Corp and Wynn Resorts Ltd (WYNN.O) withdrew from planned projects. The government on Friday said it would need more time to review the Nagasaki plan, led by Casinos Austria International.

☆ China to ban vessels from area near Taiwan over rocket debris
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Jameson Wu/File PhotoBEIJING, April 13 (Reuters) - China will ban vessels from an area near Taiwan on Sunday because of the possibility of falling rocket debris, its maritime safety agency said on Thursday, as Japan sought details from Beijing on a reported no-fly zone in the same location. China has not commented on the no-fly zone but South Korea, which was also briefed on the plans, said it was due to a falling object related to a launch vehicle. China regards Taiwan as its own territory and objects to any interactions between the Taiwanese leadership and foreign officials. The coordinates correspond to a rectangular area to Taiwan's northeast, with the closest point 118 km (73 miles) from Taiwan, illustrated on a map that Taiwan's transport ministry released late on Wednesday. China's foreign ministry declined to comment.

☆ Japan says evacuation warning for North Korea missile was not a mistake
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

TOKYO, April 13 (Reuters) - The Japanese government said the emergency evacuation warning it issued and later retracted against residents of the northern island of Hokkaido after a North Korean missile launch on Thursday morning was appropriate and not an error. "We did not correct the information issued by the J-Alert" emergency broadcasting system, Chief Cabinet Secretary Hirokazu Matsuno told a news conference. He said the North Korean missile disappeared from Japan's radar immediately after detection, and a further analysis found that there was no possibility of its landing in Japan's territory, leading to the lifting of the evacuation warning. "The J-Alert warning was issued to inform citizens of the danger of a falling missile to prioritise citizens' safety," Matsuno said. Reporting by Chang-Ran Kim and Kaori KanekoOur Standards: The Thomson Reuters Trust Principles.

☆ Osaka casino resort's approval process is in final stage, Japan PM says
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: 1 min

TOKYO, April 13 (Reuters) - A casino resort project in Osaka, western Japan, is in the final stages of the government's approval process, Prime Minister Fumio Kishida told reporters on Thursday. The Osaka integrated resort project, which includes Japan's first casino, has been put forward by U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T). Jiji news agency on Wednesday reported the government was set to approve the Osaka casino project as early as on Friday. Reporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japan lifts evacuation alert for missile after emergency warning system error
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

TOKYO, April 13 (Reuters) - The Japanese government lifted an evacuation order for residents of the northern island of Hokkaido, saying an emergency warning system erroneously predicted that a missile launched from North Korea would fall near the island. Reporting by Chang-Ran Kim; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Vending machine in remote Japan town sells meat from intruding bears
▼ + stars: | 2023-04-06 | by ( Irene Wang | ) www.reuters.com time to read: +1 min

[1/3] A vending machine menu offering Asian Black Bear meat, Akita Beef and dried mountain stream fish is seen in front of a Soba Noodle restaurant in Semboku, Akita prefecture, Japan April 6, 2023. REUTERS/Irene WangSEMBOKU, Japan, April 6 (Reuters) - A remote Japanese town has taken to selling bear meat from a vending machine, sourcing its supply to Asian black bears, listed as a vulnerable species, caught in traps or in the mountains by hunters. Asian black bears are listed as vulnerable, but not critically so, and it is legal to eat bear in Japan. Vending machines throughout Japan offer everything from drinks, snacks and surgical masks to more exotic fare such as edible insects and whale meat. "Bear meat isn't very common so we want tourists who come to visit the town to buy it," Sato said.

☆ Japan searching for 10 people aboard crashed military helicopter
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

[1/5] An unidentified object floating in the ocean is seen near the site of a military helicopter crash, in the sea near Miyakojima, Okinawa Prefecture, Japan, in this handout photo taken on April 6, 2023. 11th Regional Coast Guard Headquarters-Japan Coast Guard/HANDOUT via REUTERSTOKYO, April 6 (Reuters) - Japan on Thursday said rescue efforts were under way to locate any survivors after one of its military helicopters carrying 10 people crashed in the sea near Miyakojima, part of the country's southwest Okinawa island chain. Morishita did not say whether the helicopter was involved in tracking any Chinese military activity. Japanese Coast Guard and military ships and aircraft that located aircraft wreckage in the water were searching for the missing four helicopter crew members and six passengers. Reporting by Tim Kelly, Mariko Katsumura and Kantaro Komiya Editing by Chang-Ran Kim, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

[1/5] Delivery trucks are parked at a parking area along the highway in Chiba, east of Tokyo, Japan April 6, 2023. On April 1, 2024, the government will limit truck drivers' annual overtime to 960 hours, among other reforms officials say are meant to improve the job's notoriously gruelling conditions and make it more attractive. The global consultancy Roland Berger expects a 20% decline in the number of Japanese truck drivers in the decade to 2030. Fierce competition and high fuel prices mean truck drivers are squeezed too despite an acute labour shortage. That would make it difficult for small companies to hire to make up for the lower number of legal working hours per driver.

☆ Japan changes aid rules; to fund defence projects of friendly nations
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, April 5 (Reuters) - Japan on Wednesday said it plans to offer friendly nations financial assistance to help them bolster their defences, marking Tokyo's first unambiguous departure from rules that forbid using international aid for military purposes. Japan's Overseas Security Assistance (OSA) will be operated separately from the Overseas Development Assistance (ODA) programme that for decades has funded roads, dams and other civilian infrastructure projects, Chief Cabinet Secretary Hirokazu Matsuno said at a regular news conference. The Philippines and Bangladesh are likely to be included as the first recipients of the aid, a government source involved in talks said to Reuters. In principle, only developing countries will be eligible to receive the aid given it will be provided as grants, according to the foreign ministry. Reporting by Tim Kelly, Yukiko Toyoda, Sakura Murakami, and Chang-Ran Kim; Editing by Tom Hogue, Christian Schmollinger and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ 'Omurice', comfort food for Japanese and Koreans, a symbol of warmer ties
▼ + stars: | 2023-03-16 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

Kishida and Yoon will reportedly share a more formal dinner of sukiyaki beforehand, but the real ice-breaker could be when they sit down for omurice, Kawabata said. Japan and South Korea are holding a summit for the first time in 12 years, seeking to mend relations that had deteriorated severely. "It could be an effort to foster a laid-back mood, through a casual dish that both Japanese and Koreans consider comfort food," he said. "Yoon may have been impressed with the softness of Japanese-style omurice," Kawabata said. "I hope the world discovers that Japanese food culture also has a dish like this," he said.

☆ Factbox: What's on the table for the Kishida-Yoon summit?
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +3 min

[1/2] South Korean President Yoon Suk-yeol speaks at an interview with Reuters in Seoul, South Korea, November 28, 2022. Kishida is considering visiting South Korea as early as this summer, Kyodo has reported. G7 INVITATIONKishida may extend an invitation to Yoon to attend the G7 summit set to take place in Hiroshima in May, several media reported. EXPORT CURBSThe two leaders could confirm their countries' intention to resolve Japan's high-tech material export curbs against South Korea. Japan tightened restrictions on the export of high-tech semiconductor materials to South Korea in 2019 as a row over how to compensate wartime labourers flared.

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