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☆ 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

☆ Japan's top currency diplomat says Tokyo in close contact with US on FX moves
▼ + stars: | 2023-09-20 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

[1/2] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Yellen said whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Last September, Japan conducted its first dollar-selling intervention to prop up the yen in 24 years as the dollar reached around 145 yen to the dollar. Authorities intervened twice in October as the dollar reached close to 152 yen. The Group of Seven (G7) nations require that member states inform their counterparts if they intervene in the currency market.

Persons: Florence Lo, Masato Kanda, Janet Yellen, Yellen, Kanda, Fumio, Tetsushi Kajimoto, Jacqueline Wong, Sam Holmes Organizations: U.S, REUTERS, Rights, Treasury, Authorities, Thomson Locations: Washington, Japan

☆ Japan's top currency diplomat says Tokyo in close contact with U.S. on FX moves
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: +1 min

A man walks past an electronic board showing the closing numbers on the Tokyo Stock Exchange and the Japanese yen rate versus the US dollar (R), along a street in Tokyo on May 1, 2023. Japanese authorities are always in close communication with U.S. counterparts on currencies and share a mutual understanding that excessive volatility is undesirable, Tokyo's top foreign exchange official said on Wednesday. Yellen said whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. "We won't rule out any options if excessive moves persist," Kanda said. To help households cope with higher living costs, Prime Minister Fumio Kishida's government plans a supplementary budget for this fiscal year, which could aggravate the industrial world's heaviest debt burden.

Persons: Masato Kanda, Janet Yellen, Yellen, Kanda, Fumio Organizations: Tokyo Stock Exchange, U.S, Treasury Locations: Tokyo, Washington, Japan

☆ Japan asks X to take down fake account of top FX diplomat as yen weakens
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. In a rare English-language post on X, the ministry said "Please don’t follow the impersonation account and/or comment on the post", saying such an X account purportedly belonging to Kanda or his staff did not exist. loading"MOF is currently requesting that X (formerly Twitter) suspends the impersonation account. The fake account, which follows about 5,000 users and was followed by little more than 550, has made no remarks about the yen or financial markets. (This story has been refiled to clarify that the fake account had made five, not four, posts to date in paragraph 4)Reporting by Kantaro Komiya; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, Masato Kanda, Kanda, Japan's, Kantaro Komiya, Kim Coghill Organizations: REUTERS, Japan's Ministry of Finance, Bank of Japan's, U.S ., BOJ, Thomson Locations: San Francisco , California, U.S, Kanda, Ukraine

☆ Japan's top financial diplomat signals chance of BOJ policy tweaks
▼ + stars: | 2023-07-21 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

TOKYO, July 21 (Reuters) - Japan's top financial diplomat on Friday suggested the central bank may tweak its approach to monetary stimulus at its next policy meeting, due to "signs of changes" in corporate behaviour on wage growth and price rises. In rare remarks on monetary policy, Masato Kanda, vice finance minister for international affairs, said he expects the Bank of Japan (BOJ) to make a judgment on policy by analysing the conditions and outlook for prices at every review. "Various expectations and speculations are spreading about the possibility of some kind of tweak to monetary policy," he said. The BOJ, under Governor Kazuo Ueda's predecessor Haruhiko Kuroda, launched an unprecedented round of monetary stimulus in 2013, pledging to inflate the economy to meet a 2% inflation target in two years. The BOJ is leaning towards keeping its yield control policy unchanged at next week's meeting, five sources familiar with its thinking said, as policymakers prefer to scrutinise more data to ensure wages and inflation keep rising.

Persons: Masato Kanda, Kanda's, Kanda, Kazuo Ueda's, Haruhiko Kuroda, Tetsushi Kajimoto, Leika Kihara, Satoshi Sugiyama, Andrew Heavens, Miral Fahmy, Sharon Singleton Organizations: Bank of Japan, Reuters, Thomson Locations: TOKYO

☆ Japan's yen is weakening again, prompting talk of another intervention worth billions of dollars
▼ + stars: | 2023-06-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

However, pointing to recent language used by Finance Minister Shunichi Suzuki, she added that immediate action seems less likely. "The language used is definitely not as tough compared to the lead up to the September 2022 intervention," she said. Masato Kanda, Japan's vice minister of finance for international affairs, told reporters last week that the government would step in if needed as the yen showed further weakening, according to Nikkei. Kanda's comments came after an unscheduled meeting between officials at Japan's Finance Ministry, the publication reported. She noted the month-on-month change seen in the currency before the intervention in September had a range of 6% to 8%.

Persons: Goldman Sachs, Shunichi Suzuki, Masato Kanda, Chew Organizations: Bank of Japan, U.S, Bloomberg, Getty, Ministry of Finance, Finance, Nikkei, Japan's Finance Ministry

☆ Yen strengthens after Japanese government dumps dollars to prop up the currency in its first intervention since 1998
▼ + stars: | 2022-09-22 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Japanese yen climbed 1% against the dollar Thursday after authorities moved to prop up the currency. It's the first time since 1998 that the Japanese government has intervened in currency markets. The dollar fell as much as 2.6% to 140.31 yen and was down 0.6% to 143.21 yen at last check. The yen's rally came after the Japanese government said it would buy yen and sell dollars in a bid to shore up the currency. "The big question is whether it will make a difference and change the long-term direction of the Japanese yen's decline," CMC Markets' chief analyst Michael Hewson said.

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