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Japan became the fifth country in history to reach the moon when the Smart Lander for Investigating Moon, or SLIM, touched down on the Moon early on Saturday. Improved accuracy would give scientists access to more of the moon, since probes could be placed nearer to obstacles. One of the lander's main engines lost thrust about 50 meters (54 yards) above the moon surface, causing a harder landing than planned. For the pinpoint landing, Sakai said, he would give SLIM a “perfect score.”“We demonstrated that we can land where we want,” Sakai said. Japan followed the United States, the Soviet Union, China and India to reach the moon surface.

Persons: Smart, SLIM, touchtown, Shinichiro Sakai, ”, Sakai, ” “, ” Sakai, “, ” LEV, toymaker Tomy, LEV, Daichi Hirano Organizations: TOKYO, Japan Aerospace Exploration Agency, JAXA, Sony, Doshisha University, Mitsubishi Locations: Japan, United States, Soviet Union, China, India, Japanese

☆ A new space photo of Japan's first spacecraft to land on the moon shows why it's not generating any power
▼ + stars: | 2024-01-25 | by ( Mari Yamaguchi | Associated Press | ) www.businessinsider.com time to read: +5 min

Japan became the fifth country in history to reach the moon when the Smart Lander for Investigating Moon, or SLIM, touched down on the Moon early on Saturday. One of the lander's main engines lost thrust about 50 meters (54 yards) above the moon surface, causing a harder landing than planned. 275 images from spaceTwo probes on Japan's SLIM moon lander. Japan followed the United States, the Soviet Union, China and India to reach the moon surface. A spacecraft designed by a Japanese company crashed during a lunar landing attempt in April, and a new flagship rocket failed its debut launch in March.

Persons: —, Smart, SLIM, Eugene Hoshiko, Shinichiro Sakai, Sakai, JAXA LEV, LEV, toymaker Tomy, Daichi Hirano Organizations: Service, Business, AP, Japan Aerospace Exploration Agency, JAXA, Sony, Doshisha University, Mitsubishi Locations: Japan, United States, Soviet Union, China, India, Japanese

☆ How investors are playing emerging market opportunities in India and Japan
▼ + stars: | 2024-01-24 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors are increasingly looking to emerging market exchange-traded funds for growth at a reasonable price. David Mann, head of capital markets at Franklin Templeton, named India as one of the most popular countries with ETF investors in the past year. "[It] has been one of the emerging market standouts thus far, so India has been a great story." The firm's Franklin FTSE India ETF (FLIN) has risen 18.19% in the past year, as of Tuesday's close. As of Tuesday's close, the firm's Franklin FTSE Japan ETF (FLJP) gained 12.58% in the past year.

Persons: David Mann, Franklin Templeton, CNBC's, Mike Akins, Akins, Franklin Templeton's Mann, Action's Akins Organizations: Franklin, Franklin FTSE, Reliance Industries, HDFC Bank, Infosys, Toyota Motor, Sony Group, Mitsubishi UFJ Locations: India, Franklin, Franklin FTSE India, Japan, U.S, Franklin FTSE Japan

TOKYO (AP) — As Japan's space agency prepares for its first moon landing early Saturday, it's aiming to hit a very small target. The Smart Lander for Investigating Moon, a lightweight spacecraft about the size of a passenger vehicle, is using “pinpoint landing” technology that promises far greater control than any previous moon landing. The mission's main goal is to test new landing technology that would allow moon mission to land “where we want to, rather than where it is easy to land,” JAXA has said. After landing, the spacecraft will seek clues about the origin of the Moon, including analyzing minerals with a special camera. Japan also hopes a success will help regain confidence for its space technology after a number of failures.

Persons: Smart Lander, SLIM, LEV, toymaker Tomy Organizations: TOKYO, Japan Aerospace Exploration Agency, JAXA, U.S, Mitsubishi, Sony, Doshisha University Locations: Japan, United States, Russia, China, India, Tokyo

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

On Saturday, the agency posted documents showing that BMW is recalling 486 SUVs after the Chicago driver was hurt. At least 26 people have been killed in the U.S. by Takata inflators since May 2009, and at least 30 have died worldwide including people in Malaysia and Australia. About 100 million inflators were recalled worldwide. Automakers, he said, blamed manufacturing problems to limit recalls when the non-desiccated Takata inflators started to have problems. In the BMW recall, dealers will replace the air bags at no cost to owners, who will be notified by letter starting Jan. 16.

Persons: Takata, Takata inflators, General Motors, inflators, Michael Brooks, “ It's, ”, Brooks, “ Organizations: DETROIT, —, BMW, Traffic, Administration, General, Volkswagen, NHTSA, GM, VW, Center for Auto Safety, Companies, ” BMW, Honda, General Motors, Ford, Nissan, Toyota, Jaguar, Rover, Daimler Vans, Mitsubishi, Subaru, Benz, Ferrari, McLaren, Porsche, Mazda, Spartan Locations: Chicago, U.S, Malaysia, Australia, Japan, inflators

DETROIT (AP) — BMW is recalling a small number of SUVs in the U.S. because the driver's air bag inflators can blow apart in a crash, hurling metal shrapnel and possibly injuring or killing people in the vehicles. Takata used volatile ammonium nitrate to create a small explosion to inflate air bags in a crash. Political Cartoons View All 1277 ImagesPotential for a dangerous malfunction led to the largest series of auto recalls in U.S. history, with at least 67 million Takata inflators involved. NHTSA says Takata air bags with a dessicant are under investigation because they have the potential to explode and expel shrapnel. The BMW recall comes after General Motors recalled nearly 900 vehicles in July with Takata inflators that have the dessicant.

Persons: Takata inflators, inflators, hasn't, dessicated inflators, General Motors, Takata Organizations: DETROIT, BMW, Takata Corp, National, Traffic Safety Administration, NHTSA, Honda, General Motors, Ford, Nissan, Toyota, Jaguar, Rover, Daimler Vans, Mitsubishi, Subaru, Benz, Ferrari, McLaren, Porsche, Mazda, Spartan, General, GM Locations: U.S, Japan, Malaysia, Australia, Chicago

☆ Japan's Sumitomo Mitsui Financial Group CEO dies at 65
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

Sumitomo Mitsui Financial Group Inc (SMFG)'s new chief executive Jun Ohta attends a news conference in Tokyo, Japan, December 14, 2018. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Nov 27 (Reuters) - Sumitomo Mitsui Financial Group (SMFG) (8316.T) on Monday said group CEO Jun Ohta died on Nov. 25 aged 65 of pancreatic cancer. Japan's second-biggest lender after Mitsubishi UFJ Financial Group (8306.T) said it plans to announce a successor in the near future as soon as an appointment is made. Ohta joined The Sumitomo Bank, a predecessor of SMFG, in 1982 and rose to group CEO in April 2019. Ohta recently sought to expand SMFG's footprint in overseas markets through an alliance with U.S. investment bank Jefferies Financial Group (JEF.N).

Persons: Jun Ohta, Kim Kyung, Japan's, Toru Nakashima, Ohta, Mariko Katsumura, Rocky Swift, Kim Coghill, Christopher Cushing Organizations: Sumitomo Mitsui Financial Group Inc, REUTERS, Rights, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial, Sumitomo Bank, Keidanren, Jefferies Financial, Thomson Locations: Tokyo, Japan, SMFG

☆ Mitsubishi Heavy expects to double defence revenue over next 3 years
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Miniatures of windmill and electric pole are seen in front of Mitsubishi Heavy Industries logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsTOKYO, Nov 22 (Reuters) - (This Nov. 22 story has been corrected to show that the revenue forecast is for a 3-year period after the company's clarification in the headline, paragraphs 1 and 3)Japan's Mitsubishi Heavy Industries (7011.T) said on Wednesday it expects to double its defence revenue to about 1 trillion yen ($6.68 billion) over the next three years. The increase would come partly from the expansion of facilities to build missiles and develop next-generation fighter jets, it said. During the three-year period starting in April 2027, Mitsubishi Heavy expects annual revenue to top 1 trillion yen due to growth in the defence and space business, presentation material showed. The Japanese government has said it plans to double spending on defence to about 2% of its gross domestic product by 2027 as regional tensions heighten.

Persons: Dado Ruvic, Chang, Ran Kim, Sonia Cheema Organizations: Mitsubishi, Industries, REUTERS, Rights, Mitsubishi Heavy Industries, Mitsubishi Heavy, Thomson

☆ BOJ to end negative interest rates in 2024, over 80% of economists say: Reuters poll
▼ + stars: | 2023-11-22 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +4 min

While none of 26 economists predicted changes in the upcoming December BOJ meeting, many foresaw the negative rate policy, which has set Japan's short-term deposit rate at minus 0.1%, would reach the end of the line next year. In the Nov. 15-20 poll, 22 of 26, or 85%, of economists said the BOJ would end the policy by the end of next year. Having watered down YCC, the BOJ's next focus is to end its negative interest rate policy and push short-term rates to zero, sources previously told Reuters. Close to 85% of poll respondents forecast the BOJ would end its YCC policy, while the rest said it would tweak the scheme again, the poll found. EYES ON NEXT YEAROf 22 economists in the poll who chose 2024 for the end of negative rates, more than a half, 12, opted for the April 25-26 meeting.

Persons: Issei Kato, Kazuo Ueda, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Hiroshi Namioka, Namioka, Fumio Kishida's, Chiyuki Takamatsu, Satoshi Sugiyama, Veronica Khongwir, Sujith Pai, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Bank of, Reuters, Capital, Research Institute, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, D, Management, Fukoku Mutual Life Insurance, Thomson Locations: Tokyo, Japan, Bank of Japan

TOKYO, Nov 17 (Reuters) - Warren Buffett's vote of confidence in Japanese trading houses is helping Mitsubishi Corp (8058.T) overcome long-held investor wariness about its complex global business that covers everything from sausages to natural gas, a top executive said. "Until fairly recently, being an industrial conglomerate had negative connotations," Kobayashi said in an interview. Appointed as the trading house's first chief stakeholder engagement officer in April, Kobayashi is now focused on wooing investors who focus on growth, not just value. Berkshire first announced roughly 5% stakes in August 2020, with Buffett saying the trading houses "have many joint ventures throughout the world and are likely to have more". read moreStill, Mitsubishi is trading at a price-to-book ratio of just a little over 1, or at almost no premium to the value of its assets.

Persons: Warren Buffett's, wariness, Berkshire Hathaway, Kenji Kobayashi, Kobayashi, Itochu, outperforming, Buffett, Benjamin Graham, that's, Anton Bridge, Miho Uranaka, David Dolan, Miral Organizations: Mitsubishi Corp, Berkshire, Reuters, Mitsubishi, Mitsui, Sumitomo, Tokyo Stock Exchange, Nikkei, Columbia University, Thomson Locations: TOKYO, Berkshire, Japan

The logo of Sumitomo Metal Mining Co is pictured at the company's headquarters in Tokyo, Japan, September 13, 2018. REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsTOKYO, Nov 16 (Reuters) - Japan's Sumitomo Metal Mining (5713.T) is considering producing cathode battery materials in the United States among other options as it looks to expand output to meet demand from electric vehicles, an executive said on Thursday. Sumitomo Metal plans to bolster its annual output capacity to 120,000 tons by March 2028 and 180,000 tons by March 2031. The consortium consists of Sumitomo Metal, Mitsubishi (8058.T) and Mitsui (8031.T). Sumitomo Metal is targeting to boost annual nickel output capacity to 150,000 tons in a long-term from 82,000 tons now.

Persons: Ritsuko Shimizu, Katsuya Tanaka, ARL.AX, Masaru Takebayashi, Yuka Obayashi, David Evans Organizations: Sumitomo Metal Mining, REUTERS, Rights, Sumitomo Metal, Panasonic, U.S, Kalgoorlie Nickel, Mitsubishi, Mitsui, Thomson Locations: Tokyo, Japan, United States, Niihama, Pomalaa, Kalgoorlie, Western Australia

A banknote of Japanese yen is seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration Acquire Licensing RightsNov 14 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The policy pressures facing Japanese authorities are intense, and the potential risks to financial markets if policymakers misstep are growing. After battling against deflation for decades, the Bank of Japan is moving away from ultra-loose policy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Florence Lo, Jamie McGeever, Xi Jinping's, Joe Biden, Shunichi Suzuki, Goldman Sachs, Deutsche Bank's George Saravelos, Xi Jinping, Fed's Jefferson, Barr, Mester, Josie Kao Organizations: REUTERS, Economic Cooperation, U.S, Japanese Finance, Bank of, Deutsche Bank's, Mitsubishi UFJ, Sumitomo Mitsui Financial Group, Thomson, Reuters Locations: Tokyo, San Francisco, Asia, Bank of Japan, Japan, India

A panel displays the Hang Seng Index during afternoon trading, in Hong Kong, China May 4, 2020. Other economic and policy highlights across the continent this week include preliminary Japanese third-quarter GDP, Indian inflation, and a policy decision from the Philippine central bank on Thursday. Some, like the China and aggregate emerging market indexes, last week fell to their lowest in three months. Perhaps the most interesting of all Goldman's FCIs is its Japanese index. Citi's economic surprises index for Japan turned negative last week and is now the lowest since June.

Persons: Tyrone Siu, Jamie McGeever, Wall, Goldman, Joe Biden, Xi Jinping, Diane Craft Organizations: REUTERS, Nasdaq, Bank of Japan, Mizuho, Mitsubishi UFJ, Sumitomo, Economic Cooperation, China's, Tencent Holdings, Alibaba, Lenovo, APEC, Thomson, Reuters Locations: Hong Kong, China, U.S, Philippine, Asia, Japan, San Francisco, India

☆ At Dubai Design Week, an architect created a space for humans and pigeons to share
▼ + stars: | 2023-11-10 | by ( Manav Tanneeru | Arya Jyothi | ) edition.cnn.com time to read: +5 min

Among them, Dubai-based Syrian Ahmad Alkattan has created a cocoon-style intimate outdoor social space where designers can “hatch” their ideas. Alkattan’s design is part of the annual Dubai Design Week and won first place in its Urban Commissions competition, which invites designers and architects to develop innovative outdoor furniture. This year, more than 30 designs for installations submitted for DDW have been built in the city’s Design District. Dubai Design WeekAhead of the upcoming COP28 climate conference in Dubai, the theme for this year’s design week emphasizes sustainable practices and materials. “So [the competition] is a very relevant project not just for what is staged in Dubai Design Week, but where we can see this in the future.”Designest is Alkattan’s third attempt at winning the Urban Commissions category.

Persons: Ahmad Alkattan, “ Designest, Alkattan, Designest, “, I’ve, Mette Degn, Christensen, DDW, it’s, ”, Abdalla, TEE VEE, Degn Organizations: CNN, Design, Dubai Design, DDW, Mitsubishi, Tea Locations: Dubai, Dubai —, Venice, Arabi, UAE

☆ Renault cuts Nissan stake to 15% after transferring shares to trust
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO-The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Le Coteau, France, July 13, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsTOKYO, Nov 8 (Reuters) - France's Renault (RENA.PA) has cut its stake in Nissan (7201.T) to 15% from about 43% by placing 28.4% of the Japanese automaker in a French trust, the companies said in an alliance statement, putting them on equal footing. The new agreement for the restructured alliance between Renault, Nissan and their junior partner Mitsubishi Motors (7211.T) came into effect on Wednesday, the car makers said in the statement. The companies had already said in January that Renault would put roughly 28% of Nissan in a French trust to make them more equal partners. ($1 = 0.9359 euros)Reporting by Daniel Leussink; Editing by Christian Schmollinger and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, France's, Ampere, Daniel Leussink, Christian Schmollinger, Gerry Doyle Organizations: Renault, Nissan, REUTERS, Rights, France's Renault, Mitsubishi Motors, Mitsubishi, Thomson Locations: Le Coteau, France, London

☆ Mitsubishi Heavy expects record defence orders as Japan boosts military
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

The logo of Mitsubishi Heavy Industries is seen at the company headquarters in Tokyo, Japan December 8, 2022. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Nov 6 (Reuters) - Mitsubishi Heavy Industries (7011.T) has doubled its forecast for defence orders to a record 1.6 trillion yen ($10.7 billion) in the current financial year, it said on Monday, as Japan expands its military by the most since World War Two. The country's top defence contractor Mitsubishi Heavy makes missiles, tanks, submarines and other defence equipment, and military work accounts for around a tenth of its overall revenue. The revision of the internal projection for defence orders compared to a range of 800 billion to 850 billion yen it had previously expected, a company spokesperson told Reuters. The company on Monday also lifted estimates for total orders for the full year by around a fifth, to 5.6 trillion yen.

Persons: Kim Kyung, Seiji Izumisawa, Maki Shiraki, Mariko Katsumura, Barbara Lewis Organizations: Mitsubishi Heavy Industries, REUTERS, Rights, Mitsubishi, Reuters, Thomson Locations: Tokyo, Japan, China, North Korea

☆ Peru miners say copper output could climb without impact from protests
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Marco Aquino Acquire Licensing RightsLIMA, Nov 7 (Reuters) - The head of Peru's mining guild on Tuesday said that while copper mining investment might be slow to recover next year, the Andean country could still see growth in production of the metal if large-scale mines are not affected by social protests. Victor Gobitz, president of SNMP - the top mining guild for the world's No. 2 copper-producing country - said 2024 output could hit 2.7-2.8 million metric tons, up from 2.6-2.7 million tons forecast for this year and 2.45 million tons hit in 2022. Mining output was slammed by stoppages early this year during nationwide protests against the government of President Dina Boluarte after the ouster and arrest of her predecessor, Pedro Castillo. Peru's copper output has reached 1.77 million tons through the first eight months of this year, according to official data.

Persons: Marco Aquino, Victor Gobitz, Gobitz, Dina Boluarte, Pedro Castillo, Sarah Morland, David Gregorio Our Organizations: REUTERS, Rights, SNMP, BHP, Mitsubishi, El, Thomson Locations: Tapairihua, Peru's Andes, Teck

☆ Goldman says Bank of Japan's policy tweak is good news for banks — and names top picks in the sector
▼ + stars: | 2023-11-07 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

She noted that a flexible YCC "may be conducive to a more controlled yield rise since there's no more line in the sand to go against." Elsewhere, Kuroda wrote in notes to CNBC that Japanese banks "remain in focus as a beneficiary" of BOJ's interest rate normalization. A more flexible interest rate on BOJ operations may allow for a controlled rise in long-term yields, Kuroda said in notes to CNBC. "This might make it easier for banks to buy or reinvest JGB portfolio at higher yields." Japanese bank stock picks Goldman Sachs continues to name conviction list stock Mitsubishi UFJ Financial Group (MUFG) and Mizuho as its top picks from the Japanese banking sector.

Persons: Goldman Sachs, BOJ, Makoto Kuroda, CNBC's, Kuroda, Yuka Azami, MUFG, Goldman, CNBC's Naman Tandon, Lim Hui Jie Organizations: CNBC, Mitsubishi UFJ Financial, Mizuho, Tokyo Stock

☆ Japan's Itochu raises profit forecast on strong machinery business
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsNov 6 (Reuters) - Japanese trading house Itochu (8001.T) posted a 14.5% drop in six-month net profit on Monday but raised its full-fiscal year profit forecast on stronger expectations for its machinery business and the weaker yen. Itochu increased its net profit forecast for the year ending in March 2024 by 20 billion yen to 800 billion yen ($5.4 billion) after weaker coal and iron ore prices resulted in its half-year net profit falling to 412.90 billion yen. "We have raised our full-year profit forecast for the machinery segment, backed by strong performance of automobile, construction machinery and North America's power business," President and Chief Operating Officer Keita Ishii told a news conference. The full-year profit forecast for Itochu's machinery business -- its second-biggest profit contributor after the metals and minerals segment and which makes ship and car parts and industrial machinery -- was increased by 10 billion yen to 115 billion yen. The company also said it will buy back up to 1.2% of its shares, worth 75 billion yen.

Persons: Toru Hanai, Keita Ishii, Ishii, Katya Golubkova, Yuka Obayashi, Kim Coghill, Savio D'Souza Organizations: Itochu, REUTERS, Mitsui, Mitsubishi, Sumitomo, Thomson Locations: Tokyo, Japan, China

☆ Bank of Japan members saw no need for new yield control tweaks, September minutes show
▼ + stars: | 2023-11-06 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 6 (Reuters) - Most Bank of Japan board members saw no need for additional tweaks to yield curve control and agreed to continued monetary easing to meet inflation and wage growth objectives, minutes of its September meeting showed on Monday. Board members shared the view that long term interest rates were moving in line with its market operation policy following the central bank's decision in July to make yield control more flexible, the minutes from the September meeting said. At the September meeting, the BOJ turned positive about its view on price growth, although central bank board members remained cautious about policy tweaks, Muguruma added. Several members said abolishing a negative rate and yield control policy would have to be discussed together with any successful achievement of the BOJ's 2% inflation target.

Persons: Issei Kato, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Tetsushi Kajimoto, Tom Hogue, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Thomson Locations: Tokyo, Japan

☆ This $13,000 microcar is outselling Teslas in Japan. Here's what drivers love about it.
▼ + stars: | 2023-11-05 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Drivers told Insider the tiny car is a "blast" to drive and perfect for driving in busy cities. AdvertisementAdvertisementJapan's best-selling EV is a tiny car that sells for just $13,000 — and drivers have told Insider exactly what they like best about it. "A smaller electric car is more sustainable and suits a lot of people's actual driving needs. I think that's at least partly why bigger electric cars, like Teslas, are not so popular here," he added. "I think Japanese automakers underestimated the appeal of electric cars here for a long time," he said.

Persons: Nissan Sakura, —, Sakura, Nissan, Michael Brown, Brown, Michael, RICHARD A, BROOKS, Tesla Organizations: Nissan, Drivers, EV, Service, Bloomberg, Mitsubishi, Reddit, Toyota, Honda, Suzuki Locations: Japan, Higashimurayama City, Tokyo

The 10-year Japanese government bond yield rose 2 basis points (bps) to 0.970%, a level last seen in May 2013, before retreating to 0.960% immediately after the BOJ announced an emergency bond-purchase operation. Tsuruta sees the tweak as a step toward the BOJ eventually exiting from negative interest rates policy, which he expects around the beginning of next year at the earliest. The two-year JGB yield had ticked up to 0.160%, while the five-year yield reached 0.480%, levels not seen since 2011. On the superlong end, the 20-year JGB yield rose to its highest since July 2013 at 1.735%. The 30-year JGB yield was up 3 bps at 1.905%.

Persons: Kim Kyung, Keisuke Tsuruta, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Tsuruta, James Malcolm, YCC, Malcolm said, Brigid Riley, Vidya Ranganathan, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, UBS, Thomson Locations: Tokyo, Japan, London

☆ Charlie Munger praises Warren Buffett’s big bets on Japan on Acquired podcast
▼ + stars: | 2023-11-01 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

“It was awfully easy money,” Charlie Munger, Buffett’s longtime lieutenant and vice chair of Berkshire Hathaway (BRKA), said in an interview with the Acquired podcast released this week. The firms backed by Berkshire — Itochu, Marubeni, Mitsubishi Corporation, Mitsui & Co., and Sumitomo — are known as “sogo shosha” or general trading companies in Japan. “These trading companies were really entrenched, old companies, and they had all these cheap copper mines and rubber plantations, and so you could borrow [easily],” Munger added. Buffett’s decision to invest in Japan has buoyed optimism about prospects in the world’s third largest economy. The legendary investor has previously cheered “the future of Japan,” casting more attention to the country from other foreign backers.

Persons: Hong Kong CNN — Warren, Charlie Munger, Buffett’s, Berkshire Hathaway, Berkshire —, Munger, Warren Buffett, ”, ” Munger, “, Wang Chuanfu, Omaha ”, China’s Organizations: Hong Kong CNN, Japan’s Nikkei, Berkshire, Berkshire — Itochu, Mitsubishi Corporation, Mitsui & Co, Sumitomo, BYD, Hyundai, Apple Locations: Hong Kong, Japan, Berkshire, United States, “, Munger, Asia, South, TSMC, Omaha, Taiwan, China

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

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