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☆ Japan's jobless rate falls to 2.6% in April
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: 1 min

TOKYO, May 30 (Reuters) - Japan's jobless rate fell to 2.6% in April from 2.8% in the previous month, government data showed on Tuesday. The seasonally adjusted unemployment rate was below economists' median forecast of 2.7% in a Reuters poll. The jobs-to-applicants ratio stood at 1.32, unchanged from March, labour ministry data showed. For a table on the jobless data, go to the internal affairs ministry's website: http://www.stat.go.jp/english/data/roudou/index.html(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 Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Strong leg muscles may be linked with better outcomes after heart attack, study suggests
▼ + stars: | 2023-05-29 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +5 min

CNN —Growing evidence shows that building muscle strength can have benefits for your heart, even leading to better outcomes after a heart attack. Kamiya said that after a heart attack, medically known as a myocardial infarction, the heart can go through a process called myocardial remodeling or cardiac remodeling, in which fibrous tissue accumulates, causing an enlargement of the heart. But emerging evidence suggests that exercise-based cardiac rehabilitation can alter the course of such remodeling in a way that improves heart function. “Cardiac remodeling is the main cause of the onset of heart failure after myocardial infarction,” Kamiya said. But more can be learned about why some people may be more affected after a heart attack than others, said Dr. Shaline Rao, director of heart failure services at NYU Langone Hospital-Long Island, who was not involved in the new study.

WASHINGTON/PARIS, May 17 (Reuters) - The longest shadows at the Group of Seven (G7) leaders' summit this week will be cast by two countries that weren't even invited to the Hiroshima gathering: China and Russia. The G7 countries -- the United States, Japan, Germany, the United Kingdom, France, Canada and Italy -- are all closely tied economically to China, the world's second-largest economy and a key global manufacturing base and market. "Everything is part of the great power competition that is taking place between the United States and Russia, and the United States and China." A woman walks past a “G7 Hiroshima” flower installation near the Peace Memorial Museum, ahead of the G7 summit, in Hiroshima, Japan, May 17, 2023. The United States is at the forefront in pushing for stronger investment controls, yet Germany is more cautious, given its heavy reliance on trade with Beijing.

The G7 countries -- the United States, Japan, Germany, the United Kingdom, France, Canada and Italy -- are all closely tied economically to China, the world's second-largest economy and a key global manufacturing base and market. "Everything is part of the great power competition that is taking place between the United States and Russia, and the United States and China." A woman walks past a “G7 Hiroshima” flower installation near the Peace Memorial Museum, ahead of the G7 summit, in Hiroshima, Japan, May 17, 2023. The G7 is looking to draw closer to members of the "Global South" to counter China's role on the global stage. The United States is at the forefront in pushing for stronger investment controls, yet Germany is more cautious, given its heavy reliance on trade with Beijing.

TOKYO, May 15 (Reuters) - A meeting of the government's top economic council on Monday focused on whether recent rises in inflation and wage growth suggest Japan is approaching a sustained exit from deflation. The fresh round of discussions between the government and central bank are looking at the role each should play in achieving sustained wage hikes, which would help reduce the risk of the country returning to deflation. Bank of Japan (BOJ) Governor Kazuo Ueda spoke about the bank's resolve to patiently maintain ultra-loose monetary policy, according to presentation material released after the meeting. Prime Minister Fumio Kishida said the government and BOJ need to coordinate closely given rising uncertainty over the economic outlook. "We're aiming to pull Japan out of deflation and achieve sustained, private demand-driven economic growth" by creating public perceptions that growth and inflation will keep rising, he said.

Importantly, smaller firms are also starting to raise pay even as many of them face a margin crunch. Big firms offered pay hikes of 3.8% this year in annual wage talks with unions that ended in March, the largest increase in three decades. Attention has now shifted to whether small firms, which employ seven out of 10 workers in Japan, would follow suit. The BOJ's tankan business sentiment survey showed last month that small firms' current profits fell 2.7% in the last fiscal year to March, while big firms' earnings rose 11.5%. Less than half of small firms said they were able to pass on rising costs to customers as of last September, government data showed.

☆ Credit Suisse’s corpse drags on Nomura
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Like peers, it is feeling the pain of the Silicon Valley Bank crisis and Credit Suisse’s (CSGN.S) collapse. And Nomura (8604.T), as with Goldman Sachs (GS.N), is ill-positioned to benefit from rising lending rates as much as commercial banks are; both investment-banking firms posted a 5% decline in net revenue in the most recent quarter. Wholesale revenue, dragged down by a 20% decline in investment banking, contracted for the quarter but remained up 10% for the year. Retail and investment management contracted compared to the prior quarter; that could be more than just seasonal if the global economy stays rickety. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Tokyo, Japan CNN —Move over, boomers and older millennials – Japan’s young people are stepping into office. Most members of Japan’s parliament are aged 50 to 70 – and are 75% male, according to data from the Inter-Parliamentary Union. Making headlines is Ryosuke Takashima who, at 26 years old, is Japan’s youngest-ever mayor, according to Japanese public broadcaster NHK. Shin the Hiratsuka YouTuber, who was elected to the Hiratsuka city council. Ayaka Nasuno, 25, is another Gen Z politician making her debut after winning the highest share of votes for the Kawasaki City Council earlier this month.

☆ Japan unveils fresh childcare plan but funding unclear
▼ + stars: | 2023-03-31 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

Under the plan, the government will take steps such as expansion of child allowances to be given without income limits. While the government has earmarked 6.1 trillion yen ($45.90 billion) for steps to arrest the declining number of children, a senior ruling party lawmaker was quoted by media as demanding an additional 8 trillion yen to fund the new measures. "A boost to child allowances alone could cost 2-3 trillion yen. "Everyone acknowledges childcare support is important given Japan's need to boost the growth rate. "Opposition parties also have no objection to boost childcare spending," said political analyst Atsuo Ito.

Zelenskiy posted footage of him greeting Kishida, whom the Ukrainian leader called "a truly powerful defender of the international order and a longtime friend of Ukraine". It is rare for a Japanese leader to make an unannounced foreign visit. [1/5] Japanese Prime Minister Fumio Kishida visits a site of a mass grave, in the town of Bucha, amid Russia's attack on Ukraine, outside of Kyiv, Ukraine March 21, 2023. Zelenskiy, speaking at a joint briefing with Kishida, said he would join the Hiroshima summit via an online link. Prior to leaving for Poland en route to Ukraine, Kishida visited India, where he met Prime Minister Narendra Modi.

SummarySummary Companies C.banks responded to risk-aversive moves in markets - MatsunoJapan's banking system stable as a whole - MatsunoFinmin says will keep assessing impact of Credit Suisse buyoutMarket rout may complicate BOJ's exit path from easy policyTOKYO, March 20 (Reuters) - Japan's top government spokesperson said on Monday the banking system was stable, seeking to reassure markets the country won't see a contagion from U.S. and European banking sector woes. "Each country promptly ramped up efforts as risk-aversive moves were seen in financial markets," Matsuno told a regular news conference. "Japan's financial system is stable as a whole," he said, adding that authorities were watching financial market moves "with a strong sense of alarm". For now, financial authorities in Tokyo see the most likely risk for Japan coming from a deterioration in the U.S. economy that would hurt exports, rather than a direct bank contagion. "The failure of two U.S. banks spilled over to a Swiss bank in a seemingly unrelated way," one official said.

"Each country promptly ramped up efforts as risk-aversive moves were seen in financial markets," Matsuno told a regular news conference. "Japan's financial system is stable as a whole," he said, adding that authorities were watching financial market moves "with a strong sense of alarm". The remarks came after Finance Minister Shunichi Suzuki told reporters on Monday the government would continue to "carefully assess" how a weekend rescue deal for Credit Suisse Group would affect Japan's financial sector. For now, financial authorities in Tokyo see the most likely risk for Japan coming from a deterioration in the U.S. economy that would hurt exports, rather than a direct bank contagion. "The failure of two U.S. banks spilled over to a Swiss bank in a seemingly unrelated way," one official said.

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.

☆ 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.

☆ 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.

[1/3] Examples of Japanese yen banknotes are displayed at a media event in Tokyo, Japan, November 21, 2022. Those positions took a hit when Tuesday's Bank of Japan policy shift allowed 10-year yields to almost double to 0.47%. On Wednesday the long end of Japan's yield curve actually rallied, with 30-year yields down 2.5 bps to 1.545%. "The 10-year yield is still very low ... maybe they will invest in the 20-year." In Australia, where Japan is also the largest foreign player in the bond market, 10-year yields are up about 20 bps.

☆ Analysis: Kuroda's abrupt policy tweak opens door for bigger shift next year
▼ + stars: | 2022-12-21 | by ( Leika Kihara | ) www.reuters.com time to read: +6 min

Waiting until next year would have forced the BOJ to combat intensifying market speculation of a near-term policy shift, or act when a deep U.S. recession could hit Japan's economy, they say. "When uncertainty is so high over the outlook for U.S. monetary policy, it probably wants to have a free hand on when next to act." POLITICS KEY TRIGGERThe abrupt timing of Tuesday's move also reflects growing political pressure for the BOJ to shift away from a policy narrowly focused on its 2% inflation target, the sources say. Hours before he met Kishida, Kuroda explained in parliament a framework on how the BOJ could exit ultra-easy policy in the future. Another dovish board member, Asahi Noguchi, also said earlier this month it "won't be surprising" for the BOJ to shift monetary policy.

☆ 2023 Mitsubishi Outlander PHEV: A Hybrid Claiming Authentic SUV-ness
▼ + stars: | 2022-12-16 | by ( Dan Neil | ) www.wsj.com time to read: +1 min

DEFENDING CHAMP The 2023 Mitsubishi Outlander PHEV is successor to the world’s best-selling PHEV sport-utility nameplate, with over 300,000 global sales since 2013, according to the company. The design incorporates Mitsubishi-developed PHEV components to the fourth-generation Outlander’s global platform, shared with Alliance partners Nissan. ANOTHER FUN notion from Japanese aesthetics to go with wabi-sabi and iki, the phrase ifudōdō denotes authenticity and majesty. These qualities were top-of-mind for designers of the Mitsubishi Outlander, said Kentaro Honda , Segment Chief Vehicle Engineer, during a presentation for the plug-in hybrid version, last week near Nashville. Second, that language seems a bit highfalutin, considering the new Outlander PHEV has a face like an illuminated USB port.

☆ Nomura CEO says U.S. becomes profit driver despite one-off losses
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 29 (Reuters) - Nomura Holdings Inc's (8604.T) U.S. wholesale business has emerged as a profit driver despite some large one-off losses in the region that had dragged down the bank's earnings in the past, Chief Executive Officer Kentaro Okuda said. Nomura's wholesale division consists of the global markets and investment banking arms. Japan's biggest brokerage and investment bank has had a long troubled history in its attempts to expand overseas, including the acquisition of assets from the collapsed Lehman Brothers in 2008 which it later wrote down. Okuda said the wholesale business overhaul in 2019, which included cost cuts and scaling back of lower growth segments, has helped turn the business leaner. To help the business become more resilient to market swings, Nomura plans to boost equity, private markets products as well as advisory and wealth management businesses, he said.

☆ Japan PM appoints ex-health min Goto as next economy minister
▼ + stars: | 2022-10-25 | by ( Kantaro Komiya | ) www.reuters.com time to read: +1 min

TOKYO, Oct 25 (Reuters) - Japanese Prime Minister Fumio Kishida on Tuesday appointed former health minister Shigeyuki Goto as the next economy minister after the incumbent abruptly resigned amid criticism over his links to a controversial religious group. Speaking to reporters on Tuesday, Kishida said he picked Goto based on his "political experience, high presentation skills and passion for economic and social reforms." Register now for FREE unlimited access to Reuters.com RegisterYamagiwa became the first minister to resign from Kishida's government and the highest profile political casualty thus far from a widening scandal sparked by the killing of former Prime Minister Shinzo Abe in July. The suspect in the killing bore a grudge against the Unification Church, alleging it bankrupted his mother, and blamed Abe for promoting it. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kentaro Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Register now for FREE unlimited access to Reuters.com RegisterAfter the dollar rose to 151.94 yen , its highest since 1990, the intervention drove the greenback down more than 7 yen to a low of 144.50 yen. The Ministry of Finance (MOF) intervened in several stages from around 9:35 p.m. (1235 GMT), one source said. Japan's top currency diplomat, Masato Kanda, also declined to say whether the MOF had intervened. Many market players doubt whether Tokyo can reverse the yen's downtrend with solo intervention, even with Japan's $1.33 trillion in foreign reserves. Japan bought a record 3.6 trillion yen ($24 billion) in the September action, Tokyo money market brokerage firms estimated.

After the dollar rose to 151.94 yen , its highest since 1990, the intervention drove the Japanese currency down more than 7 yen to a low of 144.50 yen. Register now for FREE unlimited access to Reuters.com RegisterThe Ministry of Finance (MOF) intervened in several stages from around 9:35 p.m. (1235 GMT), one source said. Speaking to reporters shortly after the yen spiked, Japan's top currency diplomat, Masato Kanda, declined to comment on whether the MOF had intervened, according to Jiji news agency. Many market players doubt whether Tokyo can reverse the yen's downtrend with solo intervention, even with Japan's $1.33 trillion in foreign reserves. Japan bought a record 3.6 trillion yen ($24 billion) in the September action, Tokyo money market brokerage firms estimated.

From Tuesday, Japan will reinstate visa-free travel to dozens of countries, ending some of world's strictest border controls to slow the spread of COVID-19. Just over half a million visitors have come to Japan so far in 2022, compared with a record 31.8 million in 2019. GHOST TOWNNarita Airport, Japan's biggest international airport some 70 kilometres from Tokyo, remains eerily quiet, with about half of its 260 shops and restaurants shuttered. Whether overseas visitors wear face masks and abide by other common infection controls in Japan is another concern. "From the start of the pandemic until now, we've had just a few foreign guests," said Tokyo innkeeper Sawa.

☆ Russia's invasion of Ukraine tramples U.N. charter: Japan PM
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Japan's Prime Minister Fumio Kishida addresses the 77th Session of the United Nations General Assembly at U.N. Headquarters in New York City, U.S., September 20, 2022. REUTERS/Eduardo MunozTOKYO, Sept 21 (Reuters) - Japanese Prime Minister Fumio Kishida, addressing the United Nations General Assembly on Tuesday, condemned Russia's invasion of Ukraine as destabilising the international order to its core and said the rule of law, not coercion by power, should prevail. "Russia's invasion of Ukraine is a conduct that tramples the philosophy and principles of the U.N. charter ... Kishida, who hails from Hiroshima, the first city to ever suffer an atomic bombing, also denounced the threat of nuclear weapons by Russia. Last month, a Russian diplomat said at the United Nations that the conflict in Ukraine did not warrant Russia's use of nuclear weapons, but Moscow could decide to use its nuclear arsenal in response to "direct aggression" by NATO countries over the invasion.

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