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☆ Japan factory output rises 2% in June as demand buoys manufacturers
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 31 (Reuters) - Japanese factory output improved in June for the first time in two months, government data showed on Monday, highlighting growing confidence among manufacturers buoyed by strong demand. Output rose 2.0% in June from a month prior on a seasonally adjusted basis, missing the 2.4% median market forecast. Electronic components and devices output rose 6.8% as shipments of capacitors used in smartphones increased, the METI official said. Manufacturers surveyed by METI expected output to fall 0.2% in July and increase 1.1% in August, the data also showed. Separate data showed retail sales rose 5.9% in June from a year earlier, in line with economist forecasts.

Persons: Taro Saito, METI, We'll, Satoshi Sugiyama, Kim Coghill, Christopher Cushing Organizations: NLI Research, Bank of, Reuters, Ministry, Economy, Trade, Industry, Toyota, Honda, Nissan, Manufacturers, Thomson Locations: TOKYO, Japan

☆ BOJ to keep ultra-low rates, may debate fine-tuning yield cap
▼ + stars: | 2023-07-27 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

At the two-day meeting ending on Friday, the BOJ is expected to maintain its yield curve control (YCC) targets at -0.1% for short-term interest rates and 0% for the 10-year bond yield. With the BOJ set to keep short-term rates negative, a tweak to the yield cap or allowance band is unlikely to trigger a spike in borrowing costs that would severely hurt the economy. There is no consensus within the board on how soon the BOJ should dial back stimulus. Former BOJ board member Takahide Kiuchi expects the central bank to eventually modify YCC, but stand pat on Friday. "I don't think the BOJ sees an imminent need to act, as markets aren't attacking its yield cap this time."

Persons: Ueda, Kazuo Ueda, Takahide Kiuchi, Leika Kihara, Takahiko Wada, Tetsushi, Takaya Yamaguchi, Yoshifumi, Kentaro Sugiyama, Sam Holmes Organizations: Bank of Japan's, Monetary Fund, Thomson Locations: TOKYO, YCC

☆ Japan's population falls while foreign residents rise to record
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 26 (Reuters) - The population of Japanese citizens decreased at the fastest pace ever while the number of foreign residents rose to a record at nearly 3 million people, government data showed on Wednesday. The data underscores that foreign nationals are playing an even bigger role in Japanese society to make up for a shrinking population. For the first time, the number of Japanese residents fell in all 47 prefectures, the data showed. Japan's population peaked in 2008 and has declined since then because of its low birth rate, which hit a record low last year. Tokyo was the home to the largest share of foreign residents with 4.2% of the population, or 581,112 people.

Persons: Fumio Kishida, Satoshi Sugiyama, Christian Schmollinger Organizations: Ministry of Internal Affairs and Communications, Thomson Locations: TOKYO, Japan, Tokyo

☆ Japan says it hopes to communicate closely with China including with Wang Yi
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

TOKYO, July 26 (Reuters) - Japan hopes to communicate closely with China, including with its newly named foreign minister and veteran diplomat Wang Yi, the top government spokesperson said on Wednesday. "It is important to build a constructive and stable relationship with China through mutual efforts," Chief Cabinet Secretary Hirokazu Matsuno told reporters. China on Tuesday named Wang to replace Qin Gang, who had not been seen in public since June 25. Wang, who was Qin's predecessor, and Japanese Foreign Minister Yoshimasa Hayashi agreed to resume high-level trilateral talks with South Korea on the sidelines of the Association of South East Asian Nations (ASEAN) meeting in Indonesia earlier this month. Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Yi, Hirokazu Matsuno, Wang, Gang, Yoshimasa Hayashi, Satoshi Sugiyama, Chang, Ran Kim Organizations: China, South, Association of South East Asian Nations, Thomson Locations: TOKYO, Japan, China, South Korea, Indonesia

There's no need to identify the country, all you need to do is control the item," a Japanese industry ministry official told Reuters. Two of them, deposition machinery maker Kokusai Electric and Japan's leading chip tool maker Tokyo Electron (8035.T), said they expect Japan's controls to have a limited business impact. COORDINATIONDovetailing Japan's controls with those of the U.S. and the Netherlands will require close coordination. He has met with Japanese trade officials and believes Tokyo is committed to curbing certain exports. Tokyo remains worried that targeting China will provoke damaging retaliation, such as a ban on Japanese electric cars, a third Japanese industry official said.

Persons: Emily Benson, Kevin Wolf, Jim Lewis, Lewis, Joe Biden's administrationis, Tim Kelly Karen Freifeld, Kentaro Sugiyama, Toby Sterling, Yoshifumi, Lincoln Organizations: TOKYO, Reuters, Center, Strategic, International Studies, Tokyo, Advantest Corp, Nikon Corp, Canon Inc, Screen Holdings, U.S . State Department and Commerce Department, Center for Strategic, U.S, U.S . Commerce Department, Thomson Locations: Tokyo, Beijing, Japan, U.S, China, backdown, Washington, Netherlands, Amsterdam

☆ Top Chinese diplomat proposes talks with Japan, South Korea, Kyodo reports
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 23 (Reuters) - Top Chinese diplomat Wang Yi proposed high-level talks between China, Japan and South Korea in a meeting with the Japanese foreign minister in Indonesia this month, Kyodo news agency reported on Sunday. U.S. allies Japan and South Korea are wary of China's increasing military assertiveness and of growing tensions between China and the U.S. over a range of issues including trade and self-ruled Taiwan. Wang and Japanese Foreign Minister Yoshimasa Hayashi met on the sidelines of an Association of Southeast Asian Nations (ASEAN) meeting in Indonesia on July 14. The issue of the water could be a sticking point preventing an early meeting of leaders of the three countries, Kyodo said. Japan conveyed Wang's proposal for the talks to South Korea, Kyodo said.

Persons: Wang Yi, Wang, Yoshimasa Hayashi, Kyodo, Satoshi Sugiyama, Ryan Woo, Jacqueline Wong, Robert Birsel Organizations: Kyodo, Ministry of Foreign Affairs, Association of Southeast Asian Nations, Thomson Locations: TOKYO, China, Japan, South Korea, Indonesia, U.S, Taiwan, Tokyo, Japanese

☆ 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 space agency rocket engine explodes during test
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 14 (Reuters) - A rocket engine exploded during a test in Japan on Friday but there were no injuries, an official at Japan's Education, Science and Technology Ministry said. The explosion of the Epsilon S engine at the Japan Aerospace Exploration Agency (JAXA) testing site is the latest in a series of failures that have deflated Japan's space ambitions. The explosion took place about a minute into the test of the second stage engine, the official said. JAXA's new medium-lift H-3 rocket was ordered to self-destruct on its debut flight in March, when its second-stage engine did not ignite as planned. Reporting by Satoshi Sugiyama and Mariko Katsumura; Writing by Elaine Lies; Editing by Shri Navaratnam and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Satoshi Sugiyama, Mariko Katsumura, Elaine Lies, Shri Navaratnam, Tom Hogue Organizations: Japan's Education, Science, Technology Ministry, Epsilon, Japan Aerospace Exploration Agency, JAXA, Thomson Locations: TOKYO, Japan

[1/3] Japanese Prime Minister Fumio Kishida and NATO Secretary-General Jens Stoltenberg meet during a NATO summit in Vilnius, Lithuania July 12, 2023. REUTERS/Yves HermanTOKYO, July 12 (Reuters) - Japan's Prime Minister Fumio Kishida said on Wednesday he welcomed that Japan and the North Atlantic Treaty Organization (NATO) had agreed on a new partnership programme, ahead of his attendance at the NATO Vilnius summit. At a joint announcement with NATO chief Jens Stoltenberg, Kishida said he looked forward to furthering cooperation in new areas including cyber-security, and hoped to deepen cooperation with NATO as it increases its engagement with the Indo-Pacific. The new partnership programme comes as NATO explores a deeper engagement with Asia while China increases its military presence. China has lashed out at a communique issued by NATO during its two-day summit in Lithuania's capital Vilnius claiming that China challenged the military alliance's interests, security, and values.

Persons: Fumio Kishida, Jens Stoltenberg, Yves Herman TOKYO, Kishida, Stoltenberg, Sakura Murakami, Kentaro Sugiyama, Michael Perry Organizations: NATO, REUTERS, Japan's, Atlantic Treaty Organization, Thomson Locations: Vilnius, Lithuania, Japan, NATO Vilnius, Asia, China, North Korea, Europe, Lithuania's

☆ One killed as heavy rain triggers landslides in Japan
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 10 (Reuters) - Torrential rain triggered landslides that killed at least one person and prompted authorities to order tens of thousands of people to leave their homes on Japan's southwestern island of Kyushu on Monday. One woman in her 70s was killed when a landslide hit her house in Fukuoka prefecture, public broadcaster NHK said. Another three people were missing after a landslide hit two homes in Saga prefecture, NHK said. The highest-level warning for heavy rain was issued in parts of Fukuoka and Oita prefectures. "The rain is becoming so heavy unlike anything seen before," the official said.

Persons: Satoshi Sugimoto, Daniel Leussink, Satoshi Sugiyama, Stephen Coates Organizations: NHK, Japan Meteorological Agency, Thomson Locations: TOKYO, Kyushu, Fukuoka prefecture, Saga, Fukuoka, Oita, Hiroshima, Hakata

Global financial markets have been closely watching Japan's wage data, as Bank of Japan Governor Kazuo Ueda regards pay growth as a key gauge to consider in deliberations about a shift in policy. Regular wages rose 1.8% in May from a year before, labour ministry data showed, the biggest gain since February 1995. The strong base pay growth boosted worker's total cash earnings, or nominal wages, by 2.5% in May, after a revised 0.8% increase logged in April. Still, real wages contracted 1.2% in May, the 14th consecutive month of year-on-year declines, as relentless consumer inflation outstrips nominal pay growth and squeezes households' buying power. On a seasonally adjusted month-on-month basis, household spending was down 1.1%, versus an estimated 0.5% gain to mark a fourth month of decline.

Persons: Kazuo Ueda, Kuroda, Hisashi Yamada, Rengo, Takumi Tsunoda, Shinichi Uchida, Taro Saito, Satoshi Sugiyama, Kantaro, Tetsushi Kajimoto, Sam Holmes Organizations: Global, Bank of Japan, Hosei University, Shinkin Central Bank Research, Nikkei, BOJ's, NLI Research, Thomson Locations: TOKYO

☆ Japan's base salary growth hits 28-year high in May
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

Base salary soared 1.8% in May year-on-year, the biggest rise since February 1995. BOJ Governor Kazuo Ueda has repeatedly stressed the need to keep policy accommodative until wages increase enough to keep price growth sustainably around its 2% target. The results from the labour talks will be reflected toward the summer, labour ministry officials said. Total cash earnings, or nominal wages, increased 2.5% year-on-year in May, after rising a revised 0.8% in April. Inflation-adjusted real wages, a barometer of households' purchasing power, dropped 1.2% in May from a year earlier, falling for 14 months straight.

Persons: Kazuo Ueda, Rengo, Satoshi Sugiyama, Devika Organizations: Bank of Japan's, Thomson Locations: TOKYO

☆ Japan's service activity maintains firm pace as demand picks up - PMI
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 5 (Reuters) - Japan's service activity maintained a brisk pace of growth in June as the relaxation of pandemic-related restrictions revived consumer demand, a private-sector survey showed on Wednesday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) fell to a seasonally adjusted 54.0 last month from a record-high 55.9 in May. That compared with the flash reading of 54.2 and remained well above the 50 threshold separating expansion from contraction for the 10th straight month. The composite PMI, which combines the manufacturing and services activity figures, slowed last month after peaking in May. The index dropped to 52.1 in June from 54.3 in May, staying above the break-even 50 mark for the sixth straight month.

Persons: Usamah Bhatti, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank Japan Services, P Global Market Intelligence, Bank of Japan, PMI, Thomson Locations: TOKYO

In 2022, top importers of China's gallium products were Japan, Germany and the Netherlands, news website Caixin said, citing customs data. Top importers of germanium products were Japan, France, Germany and the United States, it said. The buyers were anticipating it could take as long as two months to obtain export permits. Jefferies analysts said they saw the export controls as China's second and bigger countermeasure after the Micron ban. "If this action doesn't change the U.S.-China dynamics, more rare earth export controls should be expected."

Persons: Peter Arkell, Jeffries, Janet Yellen, Arkell, Caixin, Morris Young, Roy Lee, Amy Lv, Brenda Goh, Siyi Liu, Kentaro Sugiyama, Joyce Lee, Ben Blanchard, Melanie Burton, Tom Hogue Organizations: China, Companies, Global Mining Association of China, U.S, AXT Inc, Micron, Jefferies, ., Thomson Locations: China, Beijing BEIJING, SHANGHAI, United States, Washington, Beijing, Japan, Germany, Netherlands, France, Europe, Taiwan, South Korea, Yunnan, Shanghai, Tokyo, Seoul, Taipei, Melbourne

☆ What people are saying about China's chipmaking export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

July 4 (Reuters) - China will control exports of some metals used in the semiconductor industry, ramping up a technology war with the United States and potentially causing more disruption to global supply chains. PETER ARKELL, CHAIRMAN OF GLOBAL MINING ASSOCIATION OF CHINA:"It hardly comes as a surprise that China would respond to the American-led campaign to restrict China's access to microchips. With roughly 90% of global production of these minor metals, China has hit the American trade restrictions where it hurts. It is a fantasy to suggest that another country can replace China in the short or even medium term." "Offer prices in the domestic market and the export market have increased to 10,000 yuan ($1,380) per kg and over $1,500 per kg, respectively."

Persons: KAZUMA KISHIKAWA, I've, PETER ARKELL, STEWART RANDALL, Kentaro Sugiyama, Amy Lv, Brenda Goh, Anne Marie Roantree, Tom Hogue Organizations: DAIWA, OF, OF CHINA, WHO, BE, Thomson Locations: China, United States, Japan, U.S, Netherlands, SHANGHAI, CHINA, Europe, Tokyo, Beijing, Shanghai

☆ Explainer: What would Japanese intervention to boost the weak yen look like?
▼ + stars: | 2023-07-03 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

When Japanese authorities escalate their verbal warnings to say they "stand ready to act decisively" against speculative moves, that is a sign intervention may be imminent. When Japan intervenes to stem yen rises, the Ministry of Finance issues short-term bills, raising yen it then sells to weaken the Japanese currency. That means there are limits to how long Japan could keep defending the yen, unlike for yen-selling intervention - where Japan can essentially print yen by issuing bills. Japanese authorities also consider it important to seek the support of Group of Seven partners, notably the United States if the intervention involves the dollar. Washington gave tacit approval when Japan intervened last year, reflecting recent close bilateral relations.

Persons: Leika Kihara, Tetsushi Kajimoto, Kentaro Sugiyama, William Mallard Organizations: Bank of Japan, Ministry of Finance, Market, Japan, Seven, Washington, Thomson Locations: TOKYO, Japan, Tokyo, United States, Washington

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

☆ Japan's jobless rate flat at 2.6% in May
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: 1 min

TOKYO, June 30 (Reuters) - Japan's jobless rate was flat at 2.6% in May from the previous month, government data showed on Friday. The seasonally adjusted unemployment rate also matched economists' median forecast of 2.6% in a Reuters poll. The jobs-to-applicants ratio slipped to 1.31 from 1.32 in April, separate 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 and Kaori Kaneko; Writing by Kantaro Komiya; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Kentaro Sugiyama, Kaori Kaneko, Kantaro Komiya, Jacqueline Wong Organizations: Thomson Locations: TOKYO

☆ Nissan will not fill COO position left open by Gupta's departure
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 28 (Reuters) - Nissan Motor Co (7201.T) has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday. Responsibilities previously carried out by the operations chief will be taken over by other executives, it said. Chief Financial Officer Stephen Ma will take over operations performance duties. Japan's No.3 automaker is investigating accusations that Uchida carried out surveillance of Gupta, Reuters has reported. Nissan is in the midst of finalising the terms of a sweeping reset of its decades-old alliance with Renault SA (RENA.PA).

Persons: Ashwani Gupta, Hideyuki Sakamoto, Stephen Ma, Makoto Uchida, Nissan, Gupta, Japan's, Uchida, Satoshi Sugiyama, Muralikumar Organizations: Nissan, Reuters, Renault SA, Renault, Thomson Locations: TOKYO

TOKYO, June 24 (Reuters) - Japanese online financial conglomerate SBI Holdings Inc (8473.T) said on Saturday it has raised its stake in SBI Shinsei Bank (8303.T) to 53.74% from 50.04% through a tender offer as a step toward taking the midsize lender private. SBI Holdings said last month it would launch the tender offer for Shinsei, with plans to pay 2,800 yen per share, for up to 154.2 billion yen in total. That remains far below the 7,450 yen share price the government would need to recoup the value of its loan to Shinsei. According to Shinsei's filing, its special committee suggested the bank was worth at least 3,000 yen per share, and one independent director opposed recommending shareholders tender their shares. It already owns the country's largest online brokerage, an online bank and an asset manager and has been taking shares in smaller lenders to create a nationwide network.

Persons: Shinsei, Satoshi Sugiyama, Jacqueline Wong, William Mallard Organizations: SBI Holdings Inc, SBI Shinsei Bank, SBI Holdings, SBI, Thomson Locations: TOKYO

☆ Japan's SBI Holdings raises stakes in Shinsei Bank after tender offer
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 24 (Reuters) - Japanese online financial conglomerate SBI Holdings Inc (8473.T) said on Saturday it now has 53.74% shares of midsize lender SBI Shinsei Bank (8303.T) from 50.04% after a tender offer. The completion of the tender offer through Friday is setting up grounds for expected delisting of Shinsei to give more flexibility in returning 349 billion yen ($2.43 billion) in public funds its predecessor bank received two decades ago in a government bailout. SBI Holdings said last month it would take SBI Shinsei Bank private and launch the tender offer with plans to pay 2,800 yen per Shinsei share for 154.2 billion yen in total. It already owns the country's largest online brokerage, an online bank and an asset manager and has been taking shares in smaller lenders to create a nationwide network. ($1 = 143.6800 yen)Reporting by Satoshi Sugiyama; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Satoshi Sugiyama, Jacqueline Wong Organizations: SBI Holdings Inc, SBI Shinsei Bank, SBI Holdings, SBI, Thomson Locations: TOKYO

☆ Japan will 'aggressively' push for women's participation after gender gap report
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

TOKYO, June 21 (Reuters) - Japan plans to "aggressively" push for women's participation in society, especially in politics, top government spokesperson Hirokazu Matsuno said on Wednesday after an annual report showed the country was struggling to narrow the gender gap. The World Economic Forum report measuring gender parity ranked Japan 125th out of 146 countries this year, compared with 116th in last year's report. In economic participation and opportunity, a category that examines labour force participation, wage equality and income showed, Japan was 123th, the lowest among East Asian and the Pacific countries. Its gender parity in political empowerment was one of the lowest-ranked in the world, at 138th, behind China, Saudi Arabia and Turkey. The ruling Liberal Democratic Party this month compiled a plan to raise the percentage of its female lawmakers to 30%.

Persons: Hirokazu Matsuno, Fumio Kishida, Kishida, Satoshi Sugiyama, Pasit, Mariko Katsumura, Shri Navaratnam, Gerry Doyle Organizations: Economic, Japan, East, Investors, Norges Bank Investment Management, Nikkei, Liberal Democratic Party, Thomson Locations: TOKYO, Japan, China, Saudi Arabia, Turkey, Lower

☆ Japan's Suzuki to make 'flying cars' with SkyDrive
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 20 (Reuters) - Japanese automaker Suzuki Motor Corp (7269.T) said on Tuesday it had reached an agreement with SkyDrive Inc to make "flying cars". The companies will use a Suzuki Group factory in central Japan to make electric vertical take-off and landing (eVTOL) aircraft and aim to begin production by around spring next year, Suzuki said in a statement. SkyDrive will establish a wholly owned subsidiary to make the aircraft and Suzuki will help with preparations for the manufacturing, including securing talent, the automaker said. Headquartered in the city of Toyota in central Japan, SkyDrive has trading house Itochu Corp (8001.T), tech firm NEC Corp (6701.T) and a unit of energy company Eneos Holdings Inc (5020.T) among its main shareholders. The two companies signed a deal in March last year to team up in research, development and marketing of flying cars.

Persons: Suzuki, SkyDrive, Satoshi Sugiyama, Robert Birsel Organizations: Suzuki Motor Corp, SkyDrive Inc, Suzuki Group, Toyota, Itochu Corp, NEC Corp, Eneos Holdings, Thomson Locations: TOKYO, Japan

☆ Japan will stop yen decline beyond USD/JPY 145, most economists say: Reuters poll
▼ + stars: | 2023-06-15 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +4 min

TOKYO, June 15 (Reuters) - Japan's government and central bank will act to stop the yen's decline if it depreciates to the 145 per U.S. dollar level, more than half of economists polled by Reuters said. Fifteen of 28 economists (54%) said the government and the BOJ will take steps such as issuing a warning or intervening into the currency market once the yen weakens beyond 145 per greenback, the June 8-13 poll found. In a separate question on the weak yen's impact on BOJ policy, nine economists (31%) said the central bank's decisions could be swayed by a yen depreciation beyond 145 per dollar. In the poll, all but one - JP Morgan - out of 28 economists corroborated the view, citing an improved bond market functionality and Governor Kazuo Ueda's accommodative remarks so far. BOJ's Ueda has said an end to easy policy would depend on the economy achieving 2% inflation coupled with pay growth.

Persons: Harumi Taguchi, Morgan, Kazuo Ueda's accommodative, Hiroshi Watanabe, BOJ's Ueda, Satoshi Sugiyama, Kantaro Komiya, Veronica Khongwir, Anant Chandak, Christian Schmollinger Organizations: Reuters, Bank of Japan, P, Financial Services Agency, Sony Financial Group, Thomson Locations: TOKYO

☆ Japan Self Defence Force member arrested after shooting, two dead - NHK
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 14 (Reuters) - A member of the Japan Self-Defence Force (SDF) was arrested on Wednesday on suspicion of attempted murder after a shooting incident that resulted in two fatalities, local media reported. An 18-year-old SDF member allegedly injured three other personnel with automatic weapon fire, public broadcaster NHK reported, citing the defence ministry. Chief Cabinet Secretary Hirokazu Matsuno said the incident happened at about 9 a.m. at an SDF shooting range in Hino City in the central Japanese prefecture of Gifu. The victims included a man in his 50s and two in their 20s, and there were no reports of civilian casualties, NHK said. Shootings are extremely rare in Japan, where gun ownership is tightly regulated and anyone seeking to own a gun must go through a rigorous vetting process.

Persons: Hirokazu Matsuno, Satoshi Sugiyama, Chang, Ran Kim, Christian Schmollinger, Michael Perry Organizations: Japan Self, Defence Force, NHK, SDF, Thomson Locations: TOKYO, Japan, Hino City, Japanese, Gifu

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