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☆ I uprooted my life and moved across the world to teach at a Japanese high school. These are the 3 things I learned, and why I'd do it again.
▼ + stars: | 2024-11-28 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +7 min

AdvertisementNic Lim, a New Zealand author, uprooted his life in New Zealand to become a school teacher in Japan. AdvertisementYou may think you know Japan from the touristy photos people post on Instagram. I wanted to capture the feeling of the best days of one's high school life. Nic LimOf course, life in Japan wasn't perfect — no country is perfect — but I take the good with the bad. But I came out of it with beautiful memories of life in high school, too.

Persons: Nic Lim, I'd, I've, Yoshikawa Minami, didn't, blackboards, It's, Lim, Nic Lim I've, —, what's Organizations: Japan Exchange, Teaching Locations: New Zealand, Japan, Koshigaya, Saitama Prefecture, Saitama, Tokyo, Kyoto, Fukushima, Adatara, Lim's

☆ Japan's exports slow sharply, machinery orders shrink in blow to economic recovery
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

He said a boost from the weak yen to exports has faded as the Japanese currency rebounded sharply in August. Total exports rose 5.6% year-on-year in August, up for a ninth straight month, data showed on Wednesday, well below a median market forecast for a 10% increase and following a 10.3% rise in July. Exports to the United States dipped 0.7%, the first monthly decline in nearly three years, as auto sales slumped 14.2%. Those to China, Japan's biggest trading partner, rose 5.2% in August from a year earlier. The value of imports grew 2.3% in August from a year earlier, versus a 13.4% increase expected by economists.

Persons: Takeshi Minami Organizations: Asahi, Co, Bloomberg, Getty, U.S, Norinchukin Research Locations: Hekinan, Aichi Prefecture, Japan, U.S, China, United States

☆ Elon Musk's Favorite Dating App Is Run by the Tokyo Government
▼ + stars: | 2024-07-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +14 min

Grace, a 29-year-old publicist in New York, has regularly used a slew of dating apps for more than four years, with little luck. Among millions, a consensus is forming: Dating apps suck so bad that they might even be deliberately keeping us from finding love. In Tokyo, the city government is even releasing its own dating app, part of a campaign called Tokyo Futari Story ("futari" means couple). Bouke de Vries, an associate professor of philosophy at Ghent University in Belgium who's studied dating apps, argues that state-run dating apps are at least in theory better positioned to help people find partners without spending too much money or time in the process. Last year, Japan's most popular dating app, the Match Group-owned Pairs, began collaborating with several prefectures and cities.

Persons: Grace, She's, it's, who'd, Tinder, Damona Hoffman, Bianca Stelian, Ryan Clarkson, —, They've, Ali Jackson, Bouke de, cupid, Bouke de Vries, Belgium who's, de Vries, Omar Minami, Cheryl Drury, They're, Francesca Katayama, Junko Yamada, Yamada, Elon Musk, I'm, Justin Garcia, Garcia, what's, there's, Eric Adams, Adams, Eve Organizations: Raya, Forbes, League, Match, Children, Families Agency, Ghent University, Government, National, Insurance, Rissho University, Department of Health, Human Services, Conservatives, Trump, PAC, Indiana University, Kinsey Institute, Match Group, Republican, Kinsey, New, New York City — Locations: New York, New York City, Japan, Australia, America, Saitama, Tokyo, Bouke de Vries, Belgium, Singapore

☆ A pair of cruise passengers were arrested after authorities searched their luggage and found 112 bags of marijuana
▼ + stars: | 2024-01-29 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Two people on a Norwegian Cruise Line ship were found with 112 bags of marijuana, an affidavit says. One said she'd only met the other at the ship's bar, but both had 56 bags, per the court document. AdvertisementTwo passengers on a cruise from Miami to the UK were found to be carrying over 100 bags of marijuana, a Department of Homeland Security affidavit says. In a statement to USA Today, a Norwegian Cruise Line spokesperson said: "The safety and security of our guests is, as always, our top priority. As such, Norwegian Cruise Line reserves the right to confiscate any items on the Prohibited Items List, and may notify authorities when necessary."

Persons: she'd, —, Michael Quesenberry, Savannah Rose Minami, Quesenberry, Minami Organizations: Norwegian Cruise, Service, Department of Homeland, DHS, Norwegian Cruise Line, Cruise Line Locations: Norwegian, Miami, Savannah, United States, England

For its biggest banks, however, there's a hitch: a generation of professional front-line staff have little experience with rising interest rates. The 38 members, which include credit dealers and data scientists, work to improve coordination between retail and wholesale divisions, as higher rates are expected to fuel trading activities. Still, if higher rates are new to most bankers, so they are for their clients, who have for years enjoyed rock bottom rates in Japan. "Almost no front-line bankers have experienced short-term rates above 0.5% as Japan last saw such rates in the 1990s," he said. "I think there are a lot of scepticism among front-line bankers over whether they can really increase their lending rates."

Persons: Masahiro Minami, they've, Izuru Kato, Kato, Satoru Yamamoto, Atsushi Kikuchi, Tokyo Tanshi's Kato, Makiko Yamazaki, Ritsuko Shimizu, David Dolan Organizations: MUFG Bank, TOKYO, Resona Holdings, Reuters, Bank, Mitsubishi, Daiwa Securities, Mizuho Financial, Mizuho, Thomson Locations: Japan, Tokyo

"Given the absence of a growth engine, it wouldn't surprise me if the Japanese economy contracted again in the current quarter. The risk of Japan falling into recession cannot be ruled out," said Takeshi Minami, chief economist at Norinchukin Research Institute. "The weak growth and the spectre of slowing inflation could delay the BOJ's exit from negative interest rates," he said. Japan’s economy contracts in the third quarterThe weak reading reflects lacklustre consumption and capital expenditure, dashing policymakers' hopes for a post-pandemic rebound in domestic activity to offset weaker external demand from China and elsewhere. He said better net exports, underpinned by car shipments and tourism, helped lift growth in the second quarter, belying the weakness in domestic demand.

Persons: Androniki, Takeshi Minami, Stefan Angrick, Angrick, Fumio Kishida, Tetsushi Kajimoto, Sam Holmes Organizations: REUTERS, Norinchukin Research, Gross, Moody's, Thomson Locations: Tokyo, Japan, TOKYO, China

Pederson dropped three shots over her final seven holes at Pelican Golf Club as the wind picked up late in the morning. “It got a little bit more windy out there and my back nine was not as I hoped,” Pederson said. “I hit a few uncommitted golf shots that I'm a little bit mad at myself about. Political Cartoons View All 1240 Images“Obviously, I know where I am at the CME,” Pederson said. So I’m just trying to focus on putting together a good day, a good hole, good shot every day.

Persons: Emily Kristine Pederson, Annika, Pederson, ” Pederson, “, ” Minami, Jasmine Suwannapura, I’ve, I’m, it’s, Lexi Thompson, Lydia Ko, Thompson, Ko, Jin Young Ko, ___ Organizations: LPGA, Pelican, Solheim, CME Globe, CME Locations: Fla, Danish, ” Minami Katsu, Japan, Thailand, Spain, Florida, Naples, Las Vegas

BELLEAIR, Fla. (AP) — Brooke Henderson was bothered by seeing so many low scores before she even teed off Thursday on the LPGA Tour. She just went out and putted for birdie on every hole, opening with an 8-under 62 for a one-shot lead in The Annika. “To hit all 18 greens is more what I used to be used to a little while ago,” the Canadian said. Political Cartoons View All 1239 ImagesThis is the last tournament for the top 60 players to reach the season-ending CME Group Tour Championship down the coast in Naples. “I just went into the day knowing I had to make birdies,” Thompson said.

Persons: — Brooke Henderson, Annika, Henderson, Jin Young Ko, Patty Tavatanakit, hasn’t, ”, “, ” Henderson, hasn't, That's, Ko, “ I’ve, ” Tavatanakit, I’m, Emily Kristine Pedersen, Minami Katsu, Katsu, Lexi Thompson, ” Thompson, Nelly Korda, Lydia Ko, ___ Organizations: LPGA, CME Globe, Pelican Golf, PGA Tour Locations: Fla, Florida, Naples, Japan, Las Vegas

☆ Japan court rules it is ‘unconstitutional’ to require transgender sterilization in landmark case for LGBTQ community
▼ + stars: | 2023-10-26 | by ( Jessie Yeung | Francesca Annio | ) edition.cnn.com time to read: +6 min

Her case had been rejected by a family court and a higher court before arriving at the Supreme Court. On Monday, the court ruled in her favor, declaring that the provision requiring sterilization was “in violation” of the constitution. Therefore, the provision in question is not necessary and reasonable,” the court said in its ruling. The Supreme Court declined to rule on the other provision requiring transgender individuals to have genital organs “resembling” the opposite sex, saying it was constitutional. The organization also expressed “strong regret” over recent discriminatory incidents against transgender individuals, including widespread “anxiety and fear” over transgender individuals using their bathrooms of choice.

Persons: ”, Kazuyuki Minami, “, Minami, Ken Suzuki Organizations: Tokyo CNN —, NHK, Supreme, Chamber of Justice, Japan’s Meijin University, National Coalition for, Laws, LGBT Law Coalition Locations: Japan

Japan’s Supreme Court ruled on Wednesday that requiring transgender people to undergo sterilization in order to legally change their gender identity is unconstitutional, a step forward for L.G.B.T.Q. rights in a nation that has been slow to recognize them. In practice, that means many transgender people will still be unable to make the legal change. The top court said it would send the case back to the High Court for further discussion of the transition surgery clause. “I’m very disappointed that my case still has to go on.”

Persons: ”, Kazuyuki Minami, “ I’m Organizations: High Court Locations: Japan’s

☆ Andrade wins vault gold, Biles wins silver despite fall at Worlds
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +3 min

Biles won her 21st World Championships gold medal in Friday's all-around event, with Andrade, the reigning champion, finishing second. But the order was reversed on Saturday as a near flawless Andrade won by a margin of 0.201 points. Algeria's Kaylia Nemour took the silver while American Shilese Jones took the bronze medal. Qiu scored a total of 15.100 points to claim the gold medal. Ahmad Abu Al Soud of Jordan took the bronze medal but missed out on automatic Olympic qualification.

Persons: Brazil's Rebeca Andrade, Yves Herman Acquire, Rebeca Andrade, Simone Biles, Biles, Andrade, Simone, Qiu, Kaylia Nemour, Shilese Jones, MCCLENAGHAN, Ireland's Rhys McClenaghan, Young, Ahmad Abu Al Soud, Jordan, Max Whitlock, Israel's Artem Dolgopyat, Kazuki Minami, Milad Karimi, Yang Liu of, Eleftherios Petrounias, Hao, Trevor Stynes, Toby Davis Organizations: Rights, American, Kazakhstan, Thomson Locations: Antwerp, Belgium, Rights ANTWERP, Friday's, China, American, British, Yang Liu of China, Greece

Rebeca Andrade of Brazil denied Biles a 22nd world title by winning the vault competition ahead of the American superstar. Biles' second vault was an excellent Cheng to finish with a combined score of 14.549. Andrade was nearly flawless to snatch the gold medal by a margin of 0.201 points. Asked whether she would try the Yurchenko double pike in competition, Andrade said it would be a “crazy” thing to do. Olympic champion Artem Dolgopyat of Israel won the floor title with 14.866 points ahead of Kazuki Minami of Japan.

Persons: Simone Biles, Biles, Rebeca Andrade, Cheng, Andrade, Yeo Seo, jeong, Laurent Landi, Andrade —, Shilese Jones, Qiu Qiyuan, Kaylia, Rhys McClenaghan, Ahmad Abu Al, Soud, Young, Artem Dolgopyat, Kazuki Minami, Milad, ___ Organizations: Biles, U.S, Tokyo, U.S men's, Israel Locations: ANTWERP, Belgium, Brazil, South Korea, China, Algeria, U.S, Belgian, Biles, Khoi, United States, Japan, Kazakhstan

Real wages adjusted for inflation fell in July for a 16th straight month in a sign households continued to feel the pinch from rising prices, separate data showed, boding ill for consumption. Exports remained solid in April-June with net external demand contributing 1.8% points to GDP growth, unchanged from the preliminary reading. But shipments to China slumped 13.4% in July to mark the 8th straight month of falls. Japan's economy has seen a delayed recovery from the COVID-19 pandemic this year, as rising living costs faltering global demand cloud the outlook. Given such uncertainties, Bank of Japan policymakers have stressed their resolve to keep monetary policy ultra-loose until the recent cost-driven inflation turns into price rises driven by domestic demand and higher wage growth.

Persons: Kim Kyung, Takeshi Minami, Yoshifumi Takemoto, Sam Holmes Organizations: Food, REUTERS, Norinchukin Research, Private, Bank of Japan, Thomson Locations: Soma, Fukushima Prefecture, Japan, TOKYO, China, Norinchukin

☆ Japan capex growth weakens with companies wary about China slowdown
▼ + stars: | 2023-09-01 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Capital expenditures climbed 4.5% from a year earlier and fell 1.2% on a seasonally adjusted quarterly basis, finance ministry data showed. If that spreads to bigger cities, that will cool demand for China-bound shipments and capex," said Takeshi Minami, chief economist at Norinchukin Research Institute. If Europe and America, which have held firm so far, cave to inflation pressure, that would further sap Japanese corporate appetite for investment." The capex data will be used to calculate revised gross domestic product figures due on Sept. 8. Corporate recurring profits surged 11.6% during the second quarter from the same period a year ago to hit a record 31.6 trillion yen, while corporate revenues rose 5.8%.

Persons: Takeshi Minami, Minami, Tetsushi Kajimoto, Tom Hogue, Edwina Gibbs Organizations: Norinchukin Research, Thomson Locations: TOKYO, China, Japan, U.S, Europe, America

☆ Japan's core inflation eases, bolstering view BOJ will stand pat
▼ + stars: | 2023-08-18 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

The 3.1% rise in the core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, matched a median market forecast, following a 3.3% increase in the previous month. The so-called core-core inflation index, which excludes fresh food and energy prices and is closely watched by the BOJ as a better gauge of trend inflation, rose 4.3% year-on-year in July, accelerating from the previous month. Still, analysts say an acceleration in service-led inflation is a positive sign that demand-side inflation, which the BOJ is looking to stoke, may be building. Gabriel Ng, economist at Capital Economics, said the key question is whether services inflation can pick up the baton. Food costs were among the major contributors to the overall inflation due to elevated prices of raw materials.

Persons: Takeshi Minami, Gabriel Ng, Ng, Kazuo Ueda, Tetsushi Kajimoto, Sam Holmes Organizations: Bank of Japan, Norinchukin Research, Capital Economics, Reuters, Thomson Locations: TOKYO, stoke

☆ Japan exports fall for first time since 2021, stoking concerns about outlook
▼ + stars: | 2023-08-17 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

Ministry of Finance (MOF) data out Thursday showed Japanese exports fell 0.3% in July year-on-year, compared with a 0.8% decrease expected by economists in a Reuters poll. However, manufacturers are braced for core orders to slide during the current quarter, partly due to the impact from weak offshore demand. Japan exports fall for first time since 2021However, the spectre of a sharper global slowdown and faltering growth in its major market China have raised concerns about the outlook. GLOOMY OUTLOOK TO KEEP BOJ ON HOLD"The Bank of Japan must be aware of downside risks from the global economy. Separate data showed Japan's core machinery orders rose 2.7% in June from the previous month.

Persons: Toru Hanai, Takeshi Minami, Minami, Marcel Thieliant, Tetsushi, Shri Navaratnam Organizations: REUTERS, Ministry of Finance, Norinchukin Research, Bank of Japan, Manufacturers, Cabinet, Capital Economics, Thomson Locations: Tokyo, Japan, TOKYO, China, Europe, America, Asia

☆ American Ewing extends Women's British Open lead as holder Buhai misses cut
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] Jun 24, 2022; Bethesda, Maryland, USA; Ally Ewing plays her shot from the 18th tee during the second round of the KPMG Women's PGA Championship golf tournament at Congressional Country Club. Mandatory Credit: Scott Taetsch-USA TODAY Sports/File photoAug 11 (Reuters) - American Ally Ewing extended her lead at the Women's British Open to five shots with a second round 66, while holder Ashleigh Buhai missed the cut after shooting a 73 at Walton Heath Golf Club on Friday. Gaby Lopez, Alison Lee, Kim Hyo-joo and Lilia Vu all stand six shots behind Ewing. "I thought that was a great score by Ally (Ewing) this morning. South African Buhai's inconsistency saw her mix five bogeys with four birdies for a total score of three-over as she became the fourth consecutive defending champion to miss the cut.

Persons: Ally Ewing, Scott Taetsch, Ashleigh Buhai, Ewing, Charley Hull, Andrea Lee, Japan's Minami Katsu, Gaby Lopez, Alison Lee, Kim Hyo, Lilia Vu, Hull, Ally, Celine Boutier, Tommy Lund, Ken Ferris Organizations: KPMG Women's, Congressional Country Club, Walton Heath Golf Club, Scottish, Evian Championship, Thomson Locations: Bethesda , Maryland, USA, France, Gdansk

☆ Japan wholesale inflation slows again, bolstering case for stimulus
▼ + stars: | 2023-08-10 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

REUTERS/Yuya Shino/File PhotoSummary Wholesale inflation slowest since March 2021Govt subsidy on utility bills weighs on wholesale pricesEasing inflation may keep BOJ stimulus intact for nowTOKYO, Aug 10 (Reuters) - Japan's wholesale inflation eased for a seventh month in July as pressure from high global commodity prices eased, a development economists say is likely to encourage the central bank to keep its monetary stimulus in place. It was the slowest wholesale inflation since March 2021 when prices turned positive to mark 1.0% growth, Bank of Japan (BOJ) data showed. After peaking at 10.6% in December, wholesale inflation has decelerated for seven months in a row. On the month, wholesale prices rose 0.1%, up for the first time in three months. As domestic corporate goods prices continue to slow, consumer prices will also slow from autumn," said Takeshi Minami, chief economist at the Norinchukin Research Institute.

Persons: Yuya, Takeshi Minami, Tetsushi Kajimoto, Sam Holmes, Shron Singleton Organizations: REUTERS, Bank of Japan, Norinchukin Research, Thomson Locations: Tokyo, Japan, TOKYO

Women’s World Cup 2023: Live scores, fixtures, results, tables and top scorersCNN —Four months before the 2011 Women’s World Cup final, Japan was devastated by the largest earthquake ever recorded in the country’s history. Japan players celebrate at the end of the team's dominant group stage victory over Spain at the Women's World Cup. We have a lot of responsibilities, and I want to focus on the results.”Japan celebrates after defeating the US in the 2011 Women's World Cup final. Kevin C. Cox/FIFA/Getty ImagesFollowing the 2011 World Cup triumph, Japanese women’s soccer had mixed success in building on that achievement. “In 2011, the whole nation was so excited about winning the World Cup, so there is a sense of, ‘Why aren’t we popular?’” Takata said ahead of the 2023 Women’s World Cup.

Persons: Aya Miyama, “, John Cowpland, England’s Lauren James, Michelle Alozie, Moeka Minami, ’, David Rowland, Yui Hasegawa, ”, Kevin C, Cox, Japan’s, Haruna Takata, ” Takata, –, Jose Breton, Hinata Miyazawa –, Mina Tanaka, Jun Endō, Risa Shimizu, Japan’s relentlessness, Hege Riise, ” “ I’ve, ” Riise, taka …, Futoshi Ikeda –, ” Hasegawa Organizations: CNN, FIFA, Japan, American, READ, Japan Football Association, ” WE, Nadeshiko Japan, Zambia, Costa Rica –, Norway, Sweden Locations: Japan, Fukishima, Germany, Spain, Norway, Zambia, ” Japan, Colombia, Costa Rica

☆ Workers at San Francisco's Anchor Brewing are trying to buy the brewery as it faces liquidation under Sapporo ownership
▼ + stars: | 2023-07-20 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Workers are reportedly offering to buy San Francisco's Anchor Brewing Co. and manage it themselves. Anchor, owned by Japanese beer giant Sapporo, announced this month that it would shutter. Anchor and Sapporo did not immediately respond to requests for comment on the letter or the closing from Insider. The Anchor workers aren't the only ones interested in buying and preserving the brand. Sapporo touted Anchor's "strong brand power" and potential for growth in a statement explaining its acquisition of the brewery in 2017.

Persons: Dave Infante, Pedro de Sá, Mike Minami, Mike Walsh, Sam Singer Organizations: Anchor Brewing Co, Service, Privacy, Brewing, Sapporo USA, Anchor, Sapporo, San Francisco Chronicle, LinkedIn, Cola Locations: Sapporo, Wall, Silicon, San Francisco, Vinepair, Sapporo USA, California

☆ Anchor Workers Want to Save Their Brewery by Buying It
▼ + stars: | 2023-07-20 | by ( Christine Hauser | More About Christine Hauser | ) www.nytimes.com time to read: +1 min

Unionized workers at Anchor Brewing Company, the oldest craft brewer in the United States, want to buy the 127-year-old company and run it as a co-op to save it from shutting down, a union official said. The workers have “decided to launch an effort to purchase the brewery and run it as a worker co-op,” according to a proposal letter from the Anchor employees. Pedro de Sá, the business agent at International Longshore and Warehouse Union Local 6, whose members include workers at Anchor, sent the proposal on Wednesday to Mike Minami, the president of Sapporo USA, which owns the company. “All we want is a fair shot at being able to continue to do our jobs, make the beer we love, and keep this historic institution open,” the letter said. “We do not want the brewery and brand we love to be sold off before we even had a chance.”

Persons: Pedro de Sá, Mike Minami, “, ” Organizations: Anchor Brewing Company, Anchor, Warehouse Union, Sapporo Locations: United States, Sapporo USA

☆ Japan exports underwhelm in June, global weakness drags on economy
▼ + stars: | 2023-07-20 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Exports were led by U.S.-bound shipments of cars and mining machinery, while China-bound shipments of steel, chips and nonferrous metal caused a double-digit decline in overall exports to China. "Going forward, it could be hard for Japan to maintain a trade surplus in a stable manner unless exports regain strength and global commodity prices keep import costs low." The overall trade numbers produced a trade surplus of 43 billion yen ($308.11 million), confounding the median estimate for a 90.1 billion yen deficit. U.S.-bound shipments, Japan's major ally, rose 11.7% year-on-year in June, led by shipments of cars, construction and mining machinery, following a 9.4% rise in the previous month. ($1 = 139.5600 yen)Reporting by Tetsushi Kajimoto; Editing by Shri Navaratnam and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Takeshi Minami, Tetsushi Kajimoto, Shri Navaratnam, Stephen Coates Organizations: Ministry of Finance, U.S, Norinchukin Research, Thomson Locations: TOKYO, Japan, China, .

However, there is uncertainty about how long households can weather price hikes and generate inflation driven more by demand, which holds the key to whether BOJ's 2% target can be achieved in a sustainable manner, analysts say. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 3.2% in June from a year earlier, accelerating from a 3.1% gain in May. While companies offered wage hikes unseen in three decades this year, inflation-adjusted real pay continues to fall in a sign of pain consumers are feeling from the wave of price hikes. BOJ Governor Kazuo Ueda has repeatedly said the BOJ will maintain ultra-loose policy until stronger wage growth keeps inflation sustainably around its 2% target. "The BOJ may revise up its inflation forecast but probably keep policy steady in July," said Takeshi Minami, chief economist at Norinchukin Research Institute.

Persons: Yoshiki Shinke, Teikoku Databank, Kazuo Ueda, Ryozo Himino, Takeshi Minami, Takahiko Wada, Leika, Satoshi Sugiyama, Kantaro, Sam Holmes Organizations: Bank of Japan, Dai, Research, Reuters, BOJ, Norinchukin Research, Thomson Locations: Tokyo, TOKYO

Ministry of Finance data showed on Thursday that exports rose 0.6% year-on-year in May, for the 27th straight month of rises, led by 66% growth in car shipments. Reuters GraphicsThis year, domestic demand may temporarily outpace slumping exports as a key driver of growth, said Takeshi Minami, chief economist at Norinchukin Research Institute. Separate government machinery orders data, also released Thursday, underlined the struggles faced by manufacturers though the overall numbers suggested the services sector is providing some cushion to the economy. U.S.-bound exports, another key market for Japanese exports, grew 9.4% in the year to May on double-digit gain in car shipment. "For the outlook of Japanese exports, the U.S. Fed's rate-hike pause is a positive news that will further vitalise American private consumption", said Kazuma Kishikawa, economist at Daiwa Institute of Research.

Persons: Darren Tay, Takeshi Minami, Kazuma Kishikawa, Tetsushi Kajimoto, Riddhima Talwani, Shri Navaratnam Organizations: Ministry of Finance, Capital Economics, Reuters, Norinchukin Research, Bank of Japan, Daiwa Institute of Research, Thomson Locations: TOKYO, Taiwan, South Korea, Japan, China, U.S

☆ Japan's export growth hits two-year low on weak China demand
▼ + stars: | 2023-05-18 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

It also marked the weakest gain since February 2021 when exports declined 4.5%. Exports have expanded every month since the February 2021 decline, helped in part by a weaker yen that makes Japanese products competitive. "The global economy will slow further in the latter half of this year, so you cannot count on either domestic or external demand, leaving Japan's economy in a soft patch." By destination, Japanese exports to China, the country's largest trading partner, dropped 2.9% in April year-on-year, dragged by declines in cars, car parts and steel shipments. Likewise, Japan's shipments to Asia fell 6.3% year-on-year in April, down for a fourth straight month.

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