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☆ Toshiba's preferred bidder to seal $10.6 bln loan deal this week -Yomiuri
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 22 (Reuters) - Japan Industrial Partners (JIP), the preferred bidder to buy out Toshiba Corp (6502.T), is set to sign a loan agreement of about 1.4 trillion yen ($10.6 billion) with lenders this week, the Yomiuri newspaper reported on Thursday. The loans include a commitment line of 200 billion yen, the paper said. Sumitomo Mitsui Banking Corp (8316.T) and Mizuho Bank (8411.T) would provide about 400 billion yen to 500 billion yen each, it said. The deal is expected to value the industrial conglomerate at around 2.2 trillion yen, although the Nikkei business daily reported at the weekend that JIP could lower it to below 2 trillion yen. Sumitomo Mitsui Banking and Mizuho Bank both declined to comment on the Yomiuri report.

☆ Tokyo makes solar panels mandatory for new homes built after 2025
▼ + stars: | 2022-12-15 | by ( Kantaro Komiya | ) www.reuters.com time to read: +1 min

TOKYO, Dec 15 (Reuters) - All new houses in Tokyo built by large-scale homebuilders after April 2025 must install solar power panels to cut household carbon emissions, according to a new regulation passed by the Japanese capital's local assembly on Thursday. The mandate, the first of its kind for a Japanese municipality, requires about 50 major builders to equip homes of up to 2,000 square metres (21,500 square feet) with renewable energy power sources, mainly solar panels. Tokyo Governor Yuriko Koike noted last week that just 4% of buildings where solar panels could be installed in the city have them now. The Tokyo Metropolitan Government aims to halve greenhouse gas emissions by 2030 compared with 2000 levels. "In addition to the existing global climate crisis, we face an energy crisis with a prolonged Russia-Ukraine war," Risako Narikiyo, a member of Koike's regional party Tomin First no Kai, said at the assembly on Thursday.

☆ Japan Nov exports up 20% yr/yr, overwhelmed by hefty imports -MOF
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 15 (Reuters) - Japan's exports rose 20% in November from a year earlier but imports outpaced shipments, resulting in a 16th straight month of trade deficits, Ministry of Finance (MOF) data showed on Thursday. The rise in exports matched a 19.8% gain expected by economists in a Reuters poll. Imports rose 30.3% in the year to November, versus the median estimate for a 27.0% increase expected by economists and a 53.5% jump in October. As a result, the trade balance came to a deficit of 2.03 trillion yen ($15.00 billion), versus the median estimate for a 1.68 trillion yen shortfall. For the tables, go to the MOF website:http://www.customs.go.jp/toukei/info/index_e.htm($1 = 135.3500 yen)Reporting by Tetsushi Kajimoto Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Q3 GDP revised up to 0.8% annualised contraction
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 8 (Reuters) - Japan's economy shrank at an annualised 0.8% in the July-September quarter, slower than the initial estimate of a 1.2% contraction, revised government data showed on Thursday. The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists' median forecast for a 1.1% decline in a Reuters poll. On a quarter-on-quarter basis, GDP contracted 0.2%, compared with the initial reading for a contraction of 0.3% and a median forecast for the same extent of falls. For the full tables on the Cabinet Office's website: https://www.esri.cao.go.jp/en/sna/sokuhou/sokuhou_top.htmlReporting by Tetsushi Kajimoto Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Mercedes opens its first EV-only dealership in the world in Japan
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Mercedes-Benz logo is seen at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. Mercedes-Benz has rolled out five electric models since 2019 and "sees further growth in the electric vehicle market in Japan," it said in a statement. Battery EVs have been slow to catch on in Japan, where domestic makers dominate the market. But foreign brands sold a record 2,357 EVs in November, surpassing a tenth of total imported car sales for the first time, according to the Japan Automobile Importers Association (JAIA). Across all car types, Mercedes-Benz sold 51,722 cars in Japan last year, making it the top-selling foreign vehicle brand, JAIA data shows.

☆ Analysis: Agony in Qatar again as Samurai Blue fail to find World Cup nerve
▼ + stars: | 2022-12-05 | by ( Martin Petty | ) www.reuters.com time to read: +3 min

That moment is known in Japan as "the agony of Doha" and remains one of the country's biggest soccer setbacks. Despite missing their goal of a last eight finish, he said his team showed a new era of Japanese soccer had begun. "We couldn't break the barrier towards the final eight, but the players were able to show a new generation of Japanese soccer," he said. "We beat Germany and Spain - World Cup champions. We should be confident in our ability and if we aim not just to catch up to but to surpass, I think there will be a different future ahead for Japanese soccer."

☆ Up, down, up again: Japan's soccer-related stocks mirror Samurai Blue's performance
▼ + stars: | 2022-12-02 | by ( Nobuyo Saito | ) www.reuters.com time to read: +2 min

TOKYO, Dec 2 (Reuters) - Japanese shares of soccer-related companies had a good day on Friday as they mirrored the national team's roller-coaster performance at the World Cup where the "Samurai Blue" delivered another shocking win, this time over global powerhouse Spain. Having also beaten four-times champions Germany in their first match last week, Japan advances to the knockout round at the top of the table. Access to the company's streaming platform hit a record of more than 10 million the day Japan clinched a surprise victory over Germany. "We're especially fielding a lot of calls about the limited-edition soccer boots that the Samurai Blue are wearing," a Mizuho spokesperson said. Pub operator Hub said COVID-19 could cloud comparisons against the last World Cup in 2018, but that "there's big hope riding" on the rest of the tournament.

TOKYO, Dec 2 (Reuters) - Japan is set to earmark 40 trillion to 45 trillion yen ($295 billion-$333 billion) for defence spending over five years starting in the next fiscal year, which begins in April, three sources with knowledge of the matter told Reuters on Friday. That would be a jump from the current five-year defence plan for spending 27.5 trillion yen, stoking worry about worsening one of the industrial world's worst debt burdens, which amounts to twice the size of Japan's annual economic output. Prime Minister Fumio Kishida told key ministers on Monday to work on a plan to lift defence spending to an amount equivalent to 2% of gross domestic product within five years, from 1% now, as Japan faces an increasingly assertive China. The key ministers - Finance Minister Shunichi Suzuki and Defence Minister Yasukazu Hamada - are expected to meet again with Kishida this month to iron out differences over the spending plan. Defence authorities had informally floated an idea of spending in the upper range of 40 trillion yen over five years, while finance bureaucrats had sought spending along the lines of the current five-year plan.

☆ Germany-Japan World Cup match a big draw for viewers in Japan, less so in Germany
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

BERLIN/TOKYO, Nov 24 (Reuters) - The Germany-Japan World Cup match on Wednesday prompted record access numbers for Japanese online streaming platform Abema, while viewership in Germany more than halved from the national team's opening match four years ago, data showed. Some 9.2 million people tuned in to German broadcaster ARD's coverage to see the match, according to data from audience measurement firm AGF. In the 2018 World Cup, 25.96 million viewed Germany's first match against Mexico. The match, in which Japan scored a stunning 2-1 upset over four-times champions Germany, took place at 2 p.m. local time in Germany, when many people were at work. Millions more viewed the match on streaming platform Abema, where access reached a record of more than 10 million on Wednesday helped by the match, according to parent company CyberAgent Inc. (4751.T).

Summary Tokyo Nov core CPI up 3.5% vs f'cast +3.4%Tokyo CPI stays above BOJ's 2% target for 6 straight monthsData underscores broadening inflationary pressureTOKYO, Nov 25 (Reuters) - Core consumer prices in Japan's capital, considered a leading indicator of nationwide trends, rose 3.6% in November from a year earlier, marking the fastest annual pace in 40 years in a sign of broadening inflationary pressure. The rise in the Tokyo core consumer price index (CPI), which excludes fresh food but includes fuel costs, exceeded a median market forecast for a 3.5% gain and accelerated from a 3.4% increase in October, government data showed on Friday. Core consumer inflation in Tokyo remained above the Bank of Japan's 2% target for six straight months in November, a sign that rising raw material costs were steadily pushing up a broad range of prices for daily necessities. The Tokyo core-core CPI index, which strips away both fresh food and fuel costs, rose 2.5% in November from a year earlier, pacing up from a 2.2% gain in October. Reporting by Takahiko Wada and Leika Kihara Editing by Chang-Ran Kim and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Japan govt begins Unification Church probe amid anger over ties with ruling party
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 22 (Reuters) - Japan's government on Tuesday launched a probe into the Unification Church, the first step in a process that could strip the group of its legal status amid public anger over its links to Prime Minister Fumio Kishida's ruling party. The government will give the church until Dec. 9 to answer questions about its finances and organisation, Minister of Education, Culture, Sports, Science and Technology Keiko Nagaoka told a regular news conference. Once the government investigation is over it will be up to a court to decide whether to remove the Unification Church's legal standing and with it the tax exemptions that registered religious organisations enjoy in Japan. Widespread links between the church and lawmakers in the ruling Liberal Democratic Party (LDP) came to light after former premier Shinzo Abe was shot and killed during an election campaign in July. Reporting by Tim Kelly and Kaori Kaneko; Editing by Chang-Ran Kim and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

[1/4] A passerby looks at a television screen showing a news report about North Korea firing a ballistic missile in Tokyo, Japan November 18, 2022. South Korea's military projected that the missile reached an altitude of 6,100 km and flew 1,000 km at a maximum speed of Mach 22. Friday's launch is the eighth ICBM test this year by North Korea, based on a tally from the U.S. State Department. Concern has also mounted over the possibility of North Korea conducting a nuclear test for the first time since 2017. North Korea on March 24 launched its biggest ICBM ever, which flew 67.5 minutes and reached an altitude of 6,248.5 km (3,905 miles), according to state media.

SEOUL/TOKYO, Nov 18 (Reuters) - North Korea fired a suspected intercontinental ballistic missile on Friday that landed just 200 kilometres (130 miles) off Japan and had sufficient range to reach the mainland of the United States, Japanese officials told reporters. Friday's launch would be the eighth ICBM test this year by North Korea, based on a tally from the U.S. State Department. A South Korean official said the Nov. 3 test may have failed at high altitude. South Korean and U.S. officials have reported that a number of North Korean ICBM tests appeared to have failed this year. The North has also fired hundreds of artillery shells into the sea recently as South Korea and the United States staged exercises, some of which involved Japan.

☆ Japan calls off business forum after Saudis cancel trip
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

"Nothing has been decided regarding a visit to Japan from Saudi Arabia's Crown Prince and Prime Minister Mohammed (bin Salman)," Japan Chief Cabinet Secretary Hirokazu Matsuno told reporters. "Japan's relationship with Saudi Arabia is crucial given they are a significant strategic partner. It is important we hold high-level visits between Japan and Saudi Arabia in the near future," Matsuno said. Saudi Arabia signed investment agreements worth $30 billion with South Korean companies during the visit. Prince Mohammed has since arrived in Thailand for a state visit, according to state media.

☆ Japan Oct CPI up 3.6% year/year, fastest since 1982 -govt
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 18 (Reuters) - Japan's core consumer prices rose 3.6% in October from a year earlier, the fastest pace since 1982, the government said on Friday. The rise in the core consumer price index, which excludes fresh food but includes oil products, would mark the fastest gain since February 1982, and compared with rises of 3.0% in the prior month and 3.5% forecast by economists. The so-called core-core inflation index, which excludes fresh food and energy prices, rose 2.5% in the year to October. For the full tables, go to the ministry's website at: http://www.stat.go.jp/english/data/cpi/index.htmReporting by Tetsushi Kajimoto Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japanese filmmaker jailed in Myanmar to be released Thursday -Kyodo
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 17 (Reuters) - Japanese documentary filmmaker Toru Kubota, who had been jailed in Myanmar on charges of sedition and violating immigration and other laws earlier this year, will be released on Thursday and return home, Kyodo News reported. Kubota was arrested in July at a protest in Myanmar's main city of Yangon and last month was sentenced to a total of 10 years. Reporting by Chang-Ran Kim; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

[1/3] A cargo ship and containers are seen at an industrial port in Tokyo, Japan, February 15, 2022. The world's third-biggest economy has struggled to motor on despite the recent lifting of COVID curbs, and has faced intensifying pressure from red-hot global inflation, sweeping interest rate increases worldwide and the Ukraine war. GLOBAL RISKSHowever, the risks to Japan's outlook have risen as the global economy teeters on the brink of recession. Economy Minister Shigeyuki Goto said a global recession could hit households and businesses. "As for 2023, Japan will be dragged into a mild recession in H1 by a global downturn that will weigh on exports and business investment."

☆ Japan working on arranging summit meeting with China's Xi
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

[1/2] Visitors stand in front of an image of Chinese President Xi Jinping, at an exhibition titled "Forging Ahead in the New Era" during an organised media tour ahead of the 20th National Congress of the Communist Party of China, in Beijing, China October 12, 2022. REUTERS/Florence LoTOKYO, Nov 14 (Reuters) - Japan is working on arranging a summit meeting between Prime Minister Fumio Kishida and Chinese leader Xi Jinping, Japan's top government spokesperson said on Monday, without elaborating. Chief Cabinet Secretary Hirokazu Matsuno was speaking at a regular news conference. Kishida and Xi are both due to attend the Group of 20 (G20) summit meeting opening on Tuesday in Bali. Reporting by Chang-Ran Kim; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's PM Kishida plans to sack justice minister - media
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 11 (Reuters) - Japanese Prime Minister Fumio Kishida has firmed up his intention to sack his justice minister, media reported on Friday, raising the possibility of a second minister leaving the cabinet because of a scandal in less than a month. Hanashi has come under widespread criticism over comments reported in the media in which he made light of his duties, specifically signing off on executions, which he referred to as "tedious". Hanashi's office declined to comment when asked about the media reports that the prime minister was preparing to sack him. Kishida has struggled to overcome revelations of deep and longstanding ties between the ruling party and the church in following the July assassination of former Prime Minister Shinzo Abe. Economic revitalisation minister Daishiro Yamagiwa resigned on Oct. 24 due to his ties to the religious group.

☆ Nintendo shares head for biggest one-day drop in a year after Switch sales projection cut
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 9 (Reuters) - Shares in Nintendo Co Ltd (7974.T) fell nearly 7%, putting them on track for their biggest one-day drop in a year on Wednesday after the Japanese videogame giant cut its annual sales projection for its Switch console by nearly 10%. The Kyoto-based company on Tuesday cut its sales forecast for the Switch to 19 million units for this business year from 21 million, as microchip shortages constrained production. Nintendo President Shuntaro Furukawa told an earnings briefing on Tuesday that chip supply had begun recovering in recent months, helping boost Switch production. Still, Nintendo shares were up 6.9% in Tokyo trade, against a nearly flat broader market. Shares of Nintendo are up 8.3% so far this year.

☆ Nintendo lifts profit guidance on weaker yen, sees slower console sales
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 8 (Reuters) - Japanese videogame maker Nintendo Co Ltd (7974.T) raised its annual profit forecast by 18% on Tuesday as a softer yen helped offset slower-than-expected Switch console sales. Nintendo, which earns about 80% of its revenues overseas, expects its net profit to come to 400 billion yen ($2.73 billion) for the year to March 2023, up from the previous forecast of 340 billion yen. The new projection still falls short of the consensus forecast of a 463 billion yen profit, based on a Refinitiv poll of 21 analysts. The creator of such blockbuster titles as "Super Mario Bros." and "Legend of Zelda" cut its Switch console sales forecast for the business year to 19 million units from 21 million. Nintendo sold 6.68 million units of its Switch console in the six months to September 30, down from 8.28 million a year earlier.

☆ Sapporo Holdings investor 3D writes to external directors seeking overhaul, Nikkei reports
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 7 (Reuters) - Sapporo Holdings Ltd (2501.T) investor 3D Investment Partners has reached out to the Japanese beer maker's five external directors seeking major changes in an attempt to improve its performance, the Nikkei business daily reported on Monday. Unhappy with Sapporo's low profit margins and return on equity, the Singapore-based fund has asked the five outside directors to postpone the announcement of a new business plan scheduled on Wednesday, among other requests, the paper said. 3D Investment Partners and Sapporo Holdings declined to comment on the report. In a letter to the directors dated Nov. 3, the fund noted that Sapporo Holdings had failed to meet its sales target during the past 15 years, and that its return on equity (ROE) averaged 2% in the past five years - far lower than rivals Kirin Holdings's (2503.T) 14% and Asahi Group Holdings's (2502.T) 11%, the Nikkei said. Reporting by Chang-Ran Kim and Makiko Yamazaki; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Japan September factory output falls 1.6% in September from the previous month
▼ + stars: | 2022-10-30 | by ( Kantaro Komiya | ) www.reuters.com time to read: 1 min

TOKYO, Oct 31 (Reuters) - Japan's factory output fell 1.6% in September from the previous month, government data showed on Monday, slightly more than the median market forecast for a 1.0% decline. Manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expect output to fall 0.4% in October and rise 0.8% in November, the data also showed. For the full tables, visit METI's website. Reporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ BOJ raises inflation forecasts, keeps ultra-low rates
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 28 (Reuters) - The Bank of Japan raised its inflation forecasts on Friday but maintained ultra-low interest rates, remaining a dovish outlier among a global wave of central banks tightening monetary policy. As widely expected, the BOJ kept unchanged its -0.1% target for short-term interest rates, and 0% for the 10-year government bond yield by a unanimous vote. It also maintained its dovish policy guidance that pledges to ramp up stimulus as needed, and projecting that short- and long-term interest rates will move at "current or lower levels." It projects inflation to hit 1.6% in fiscal 2024. Reporting by Leika Kihara, Tetsushi Kajimoto, Kantaro Komiya and Daniel Leussink Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

TOKYO, Oct 28 (Reuters) - Core consumer prices in Japan's capital, a leading indicator of nationwide figures, rose 3.4% in October from a year earlier, data showed on Friday, marking the fastest annual pace since 1989 in a sign of broadening inflationary pressure. The rise in the Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes oil costs, exceeded a median market forecast for a 3.1% gain and followed a 2.8% gain in September. Inflation in the Tokyo area thus exceeded the central bank's 2% target for five straight months. BOJ Governor Haruhiko Kuroda has repeatedly said the bank must maintain ultra-low interest rates on the view the recent cost-push inflation will likely prove temporary. Reporting by Takahiko Wada and Leika Kihara; Editing by Chang-Ran Kim and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

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