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☆ North Korea fires two short-range ballistic missiles, South Korea says
▼ + stars: | 2023-03-13 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

SEOUL, March 14 (Reuters) - North Korea fired two short-range ballistic missiles off its east coast on Tuesday, South Korea's military said, the latest in a series of weapons tests as the South and the United States conduct their largest joint military drills in years. The missiles were fired at around 7:40 a.m. (2240 GMT on Monday) from the South Hwanghae province, near the country's west coast, South Korea's Joint Chiefs of Staff (JCS) said. The South Korean military was on high alert and maintaining full readiness posture under close coordination with the United States, the JCS added in a statement. North Korea has long bristled at the allies' drills as a rehearsal for invasion. On Sunday, North Korean state media KCNA reported the country has decided to take "important practical" war deterrence measures, saying, "War provocations of the U.S. and South Korea are reaching the red-line."

☆ S.Korea's Yoon to visit Japan for summit, first such trip in 12 years
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

SEOUL, March 9 (Reuters) - South Korean President Yoon Suk Yeol and his wife will visit Japan from March 16-17 at Tokyo's invitation, his office said on Thursday, the first such visit in 12 years after Seoul announced a plan to end a protracted dispute over wartime forced labour. Yoon will hold a summit meeting with Japanese Prime Minister Fumio Kishida. "The visit... will be an important milestone in the improvement and development of relations between South Korea and Japan," Yoon's office said in a statement. “South Korea is an important neighbour with which we should cooperate in addressing various issues in the international community,” Japan Chief Cabinet Secretary Hirokazu Matsuno said at a briefing. South Korea's defence ministry said on Tuesday it would work with Japan to enhance security cooperation, including trilateral relations with the United States.

☆ Japan's new rocket fails after engine issue, in blow to space ambitions
▼ + stars: | 2023-03-07 | by ( Tim Kelly | ) www.reuters.com time to read: +3 min

[1/4] An H3 rocket carrying a land observation satellite lifts off from the launching pad at Tanegashima Space Center on the southwestern island of Tanegashima, Kagoshima Prefecture, southwestern Japan March 7, 2023, in this photo taken by Kyodo. The 57-metre (187 ft) tall H3 rocket lifted off without a hitch from the Tanegashima space port, a live-streamed broadcast by the Japan Aerospace Exploration Agency (JAXA) showed. But upon reaching space, the rocket's second-stage engine failed to ignite, forcing mission officials to manually destroy the vehicle. "This will have a serious impact on Japan's future space policy, space business and technological competitiveness," he added. A successful launch on Tuesday would have put the Japanese rocket into space ahead of the planned launch later this year of the European Space Agency's new lower-cost Ariane 6 vehicle.

☆ Japan authorities seek criminal charges against Dentsu, others over Olympics contracts
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Feb 28 (Reuters) - Japan's Fair Trade Commission said on Tuesday it filed criminal complaints against Dentsu (4324.T) and five other firms as well as seven individuals over alleged bid-rigging on contracts for the Tokyo 2020 Olympics. The complaint marks the latest development in months of investigations into alleged corruption in the planning and sponsorship of the Tokyo Olympics and Paralympics Games, held in 2021 after a pandemic-driven postponement. Tokyo prosecutors are planning to the bring the charges on Tuesday, Kyodo News agency said. Dentsu, Cerespo and Fuji Creative have already been barred from bidding for contracts at the industry, foreign and education ministries for nine months. Reporting by Satoshi Sugiyama, Kantaro Komiya, Kaori Kaneko; Editing by Chang-Ran Kim and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Kazuo Ueda, a 71-year-old university professor who has kept a low profile despite strong credentials as a monetary policy expert, ticked some important boxes. While he was not even on the list of dark horse candidates floated by the media, Ueda was well known in global central bank circles. The bank's preferred choices were incumbent deputy governor Amamiya, as well as former deputies Hiroshi Nakaso and Hirohide Yamaguchi, given their deep knowledge on monetary policy. Matsuno said he hoped the BOJ works closely with the government and guides monetary policy flexibly, when asked whether Ueda's appointment could lead to a retreat from Abenomics. While he warned of the rising cost of the BOJ's yield control policy, Ueda has called for the need to keep monetary policy loose to ensure Japan stably achieves the bank's 2% inflation target.

☆ Nissan, Renault to invest $600 million to make 6 new models in India
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeTOKYO, Feb 13 (Reuters) - Nissan Motor Co (7201.T) and Renault SA (RENA.PA) said on Monday they would invest $600 million to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. Two models would be electric vehicles (EVs), the companies' first in India; the others would be sports utility vehicles. Unlike Nissan, Renault does not have a significant presence China, the United States and Japan, raising the stakes for its success in India. Industry-wide sales in India surged 23% last year to 4.4 million vehicles, overtaking the Japanese market, according to S&P Global Mobility. The Chennai plant can produce about 500,000 vehicles a year, but last year Renault sold only 87,000 in India and Nissan 35,000.

☆ Toyota to ramp up on batteries, keep its options open, new CEO says
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

[1/4] Koji Sato, who was named as new CEO of Toyota Motor Corp, attends Tokyo Auto Salon 2023 at Makuhari Messe in Chiba, east of Tokyo, Japan January 13, 2023. REUTERS/Kim Kyung-HoonCompanies Toyota Motor Corp FollowLexus FollowTOKYO, Feb 13 (Reuters) - Toyota Motor Corp (7203.T) will ramp up its battery-electric offerings by focusing on its Lexus luxury brand, its incoming chief executive said on Monday, but the company will not deviate from a long held strategy of exploring other technologies. Toyota, which popularised the hybrid technology of the Prius, has said that hybrids make better sense for many drivers, especially in markets where the infrastructure is not ready to support batteries. Sato said Toyota would accelerate its battery-electric offerings by focusing on the Lexus. While he oversaw the creation of Lexus's first fully electric model, he has previously spoken of keeping open other options for powering vehicles.

"The company has received a proposal from the JIP consortium," Toshiba said in a statement. Two of the sources said major Japanese banks, including Sumitomo Mitsui Financial Group (8316.T), had issued letters of commitment to provide 1.4 trillion yen ($10.6 billion) in loans to the group. The final buyout proposal would also include an equity portion of about 1 trillion yen, they said. The Nikkei business daily reported the total value of the buyout proposal was around 2 trillion yen. JIP was then asked by Toshiba to provide commitment letters from banks by Nov. 7, something it was unable to do.

Major Japanese banks, including Sumitomo Mitsui Financial Group (8316.T), had issued letters of commitment to provide the loans to the JIP-led group, said two of the sources, who declined to be identified because the information has not been made public. The 1.4 trillion yen of loans included a commitment line of 200 billion yen for working capital, the sources said. The final buyout proposal would also include an equity portion of about 1 trillion yen, they said. The Nikkei business daily reported a final buyout proposal worth around 2 trillion yen. The banks asked Toshiba to promise the sale of underperforming businesses if earnings deteriorated after a buyout was concluded, sources, including those who spoke on Thursday, have previously said.

Major Japanese banks, including Sumitomo Mitsui Financial Group (8316.T), have issued letters of commitment to provide the loans to the JIP-led group, said the sources, who declined to be identified because the information has not been made public. The Nikkei business daily reported a final buyout proposal worth around 2 trillion yen had been submitted. Sources said the 1.4 trillion yen of loans included a commitment line of 200 billion yen for working capital. Toshiba named the JIP-led group as its preferred bidder in October. The private equity firm was then asked by Toshiba to provide commitment letters from banks by Nov. 7, something it was unable to secure by that date.

☆ Toyota defends title as world's top-selling automaker in 2022
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 30 (Reuters) - Toyota Motor Corp (7203.T) sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world's top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors (7205.T) and small-car maker Daihatsu, inched down 0.1% as record overseas sales of 8.6 million vehicles helped offset a 9.6% dip in its home market to 1.9 million. While some chip-related supply constraints remained for Toyota as well, the Japanese automaker said strong demand in Asia and an increase in the production capacity and optimisation in Asia and North America helped it boost global production by 5% in 2022. Toyota in November revised its production forecast for the current financial year through the end of March, to 9.2 million vehicles from 9.7 million. Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japan will continue to monitor COVID situation in China, govt says
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

[1/3] Passengers of a plane from Dalian in China, head to the coronavirus disease (COVID-19) test area upon their arrival at Narita international airport in Narita, east of Tokyo, Japan January 12, 2023. REUTERS/Kim Kyung-HoonTOKYO, Jan 30 (Reuters) - Japan will continue to monitor the COVID-19 situation in China and deal "flexibly" with border control measures, Chief Cabinet Secretary Hirokazu Matsuno said on Monday. The comment came a day after the Chinese embassy in Japan said it had resumed the issuance of ordinary visas for Japanese citizens travelling to the country. China had stopped issuing visas for Japanese nationals earlier this month after Japan toughened COVID-19 border control rules for travellers coming directly from China. Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. He will hand over to Koji Sato, the 53-year-old head of Toyota's luxury Lexus brand. "It's likely that he'll remain active as chairman for a long time and continue to put his mark on Toyota." "Toyota is a public company that likes to pretend it's a family company," said John Shook, a former Toyota manager who now consults on the lean management techniques pioneered by the automaker. "Choosing someone who is much younger and with Sato's background indicates Akio recognised the time for change had come."

TOKYO, Jan 27 (Reuters) - Toyota Motor Corp (7203.T) chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said. The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. "It's likely that he'll remain active as chairman for a long time and continue to put his mark on Toyota." "Toyota is a public company that likes to pretend it's a family company," said John Shook, a former Toyota manager who now consults on the lean management techniques pioneered by the automaker. "Choosing someone who is much younger and with Sato's background indicates Akio recognised the time for change had come."

☆ Japan, Netherlands to join U.S. in restricting chip equipment exports to China, Bloomberg reports
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Jan 27 (Reuters) - Japan and the Netherlands will soon agree to join the United States in restricting exports of semiconductor manufacturing equipment to China, Bloomberg News reported. Japan would impose similar restrictions on Nikon Corp (7731.T), the report said. Deputy Chief Cabinet Secretary Seiji Kihara, a government spokesperson, said Japan would make "appropriate steps" based on the United States' and other nations' regulatory moves. "We have been in discussion with the United States and other countries regarding the export-control regime," Yasutoshi Nishimura, Japan's Minister of Economy, Trade and Industry, told reporters on Friday. "A balance needs to be struck so no one among Japan, the United States and Europe will be disproportionately disadvantaged.

☆ Japan's Suzuki to invest $35 bln through 2030 in EVs
▼ + stars: | 2023-01-26 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

Suzuki's announcement comes after other Japanese automakers have rolled out similar goals to catch up with European and U.S. rivals in the fast-growing battery EV market. Suzuki said it would introduce its first battery EVs, including small sport-utility vehicles and micro "kei" cars, in Japan in fiscal 2023. Suzuki plans to introduce battery EVs in Europe and India, and its first battery electric motorcycles globally, the following year. Suzuki plans to learn from Toyota how to use EV technology to make small electric cars, Suzuki said during a visit to India this month. "We will put in vehicles for various price ranges, for various people, for various regions," Toshihiro Suzuki said.

☆ Japan's Suzuki to invest $35 bln through FY 2030
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 26 (Reuters) - Japan's Suzuki Motor Corp (7269.T) said on Thursday it will invest a total of 4.5 trillion yen ($34.79 billion) in research and development as well as in capital expenditure as part of its growth strategy through fiscal 2030. The Japanese automaker said it would invest 2 trillion yen to facilitate electrification and autonomous driving technologies, while allocating 2.5 trillion yen to build battery electric vehicle plant and for renewable energy facilities. Suzuki said it is going to introduce its first battery electric vehicle automobiles in Japan in the financial year 2023, and in the financial year 2024 in Europe and India. It is also seeking to introduce its first battery electric motorcycles globally in financial year 2024. ($1 = 129.3500 yen)Reporting by Satoshi Sugiyama and Daniel Leussink; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Toyota names Lexus chief Koji Sato CEO as Akio Toyoda takes chairman role
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/3] Toyota Motor Corporation President Akio Toyoda and Toyota's GAZOO Racing Company President Koji Sato attend an event for Toyota GAZOO Racing and LEXUS at Tokyo Auto Salon 2023 at Makuhari Messe in Chiba, east of Tokyo, Japan January 13, 2023. REUTERS/Kim Kyung-HoonCompanies Toyota Motor Corp FollowLexus FollowTOKYO, Jan 26 (Reuters) - Toyota Motor Corp (7203.T) said on Thursday that Akio Toyoda will step down as president and chief executive to become chairman from April 1, and hand over the helm of Japan's biggest automaker to the company's top branding officer. Koji Sato, a 53-year-old who is also president of Toyota's luxury brand Lexus, will become the new CEO, the company said. He has held positions as the president of Lexus International and Gazoo Racing Company, Toyota’s motorsport brand, since 2020. He also took on an executive role at Toyota and became its chief branding officer in January 2021.

☆ Japan's top FX diplomat warns sharp currency moves won't be tolerated
▼ + stars: | 2023-01-26 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

TOKYO, Jan 26 (Reuters) - Sharp one-sided currency moves cannot be tolerated, Japan's top finance diplomat Masato Kanda told Reuters, reaffirming Tokyo's determination to intervene in the foreign exchange market to curb any speculative or significant yen moves. Kanda oversaw Japan's currency intervention conducted last year to prop up the yen after it fell around 30% to 32-year lows near 152 to the dollar. Kanda emphasised that the government aims to keep currency moves stable, while the Bank of Japan (BOJ) has independence in guiding monetary policy and focuses on achieving price stability. But policy itself is independent," Kanda said of the central bank's monetary policy. The BOJ's ultra-loose monetary policy has drawn criticism from some analysts as having triggered an unwelcome yen plunge last year that inflated the cost of raw material imports.

☆ Russia sanctions, Ukraine support to be G7 priority, says Japan diplomat
▼ + stars: | 2023-01-26 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

"Sanctions against Russia and support for Ukraine will be a top priority at G7 financial leaders' meetings under Japan's chair," said Kanda, who will oversee G7 deputy-level talks on economic policy this year. While Kanda underscored the importance of G7 unity in standing up to Russia, some analysts say there may be differences on sanctions, particularly among Europeans who are being forced to wean themselves off Russian energy supplies. Kanda, who is vice finance minister for international affairs, listed the challenges the G7 will have to confront over the coming year. "If this is realised, it would pave the way to carry out debt restructuring for other middle-income countries." Reporting by Tetsushi Kajimoto; Additional reporting by Kentaro Sugiyama; Editing by Robert Birsel and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Heavy snow causes havoc in Japan as cold snap sweeps through Asia
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Jan 25 (Reuters) - Heavy snow blanketed wide swathes of Japan on Wednesday, snarling traffic, forcing hundreds of flight cancellations, disrupting train travel and leaving at least one person dead. An unusually cold weather front and extreme low pressure systems set snow falling and strong winds blowing across Japan from Tuesday after causing havoc in other Asia countries earlier this week. Some 3,000 people were stranded at two train stations in the western city of Kyoto after snow and high winds forced service to be suspended on Tuesday. Strong winds connected to the storm may have caused the sinking of a Hong Kong-registered cargo ship between western Japan and South Korea's Jeju island early on Wednesday. Reporting by Kaori Kaneko, Sugiyama Satoshi and Elaine Lies in Tokyo and Hyonhee Shin in Seoul, writing by Elaine Lies and Miyoung Kim Editing by Chang-Ran Kim, Kim Coghill and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Honda to create division to speed up electrification development
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 24 (Reuters) - Honda Motor Co (7267.T) said on Tuesday it would create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organisational structure. Japanese automakers have been at risk of falling behind their European and U.S. rivals in the EV market. In changes effective April 1, the new division would consolidate the Japanese automaker's electrification strategy and development of automobiles, motorcycles and power products such as generators, it said in a statement. Integrating to the three was to "rapidly develop the implementation of resource shifts in accordance with the future lineup strategy in line with the electrification acceleration," a spokesperson said in a briefing. Honda last year laid out a target to roll out 30 EV models globally and produce about 2 million EVs a year by 2030.

☆ Toyota plans to produce 750,000 vehicles globally in February
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 18 (Reuters) - Toyota Motor Corp (7203.T) on Wednesday said it plans to produce about 750,000 vehicles globally in February. The Japanese automaker said it aims to make about 300,000 vehicles domestically and about 450,000 overseas, and that it will continue to monitor the supply of auto parts, including semiconductors. Toyota produced 740,996 vehicles globally in February last year, against a target of around 700,000. Reporting by Satoshi Sugiyama; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

"Junji Ito Maniac: Japanese Tales of the Macabre" comes to Netflix on January 19. The 12-episode anime series brings 20 of Ito's horror manga tales to life. How to watch 'Junji Ito Maniac: Japanese Tales of the Macabre'You can watch "Junji Ito Maniac: Japanese Tales of the Macabre" exclusively on Netflix starting January 19. "Junji Ito Maniac: Japanese Tales of the Macabre" is based on 20 of Junji Ito's horror stories from a handful of his manga. Junji Ito is a horror manga artist with something of a cult following.

☆ Japan's jobless rate falls to 2.5% in Nov
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 27 (Reuters) - Japan's jobless rate fell to 2.5% in November, while the availability of jobs stayed at its highest level since March 2020, government data showed on Tuesday. The seasonally adjusted unemployment rate matched economists' median forecast in a Reuters poll and was down from 2.6% in October. The jobs-to-applicants ratio stood at 1.35, labour ministry data showed, unchanged from October. For a table on the jobless data, go to the internal affairs ministry's website: http://www.stat.go.jp/english/data/roudou/index.htm(Note: The jobs-to-applicants ratio and new job offers can be seen in Japanese on the labour ministry's website)Reporting by Kentaro Sugiyama, writing by Kaori Kaneko Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

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