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SEOUL, Dec 31 (Reuters) - North Korea fired three ballistic missiles toward the sea east of the Korean Peninsula on Saturday, the South Korean military said. The three short-range ballistic missiles were fired from around 8 am local time (2300 GMT) from North Hwanghae Province, south of the capital Pyongyang, South Korea's Joint Chiefs of Staff said. South Korean military also said the missiles flew about 350 km. Relations between North Korea and U.S.-ally South Korea have grown more tense since South Korean President Yoon Suk-yeol's conservative government took over in May, promising a tougher stance toward the North. Not counting Saturday's launches, North Korea has fired around 70 ballistic missiles this year, Yonhap news agency said, including about eight intercontinental ballistic missiles (ICBM).

☆ Japan marks record 415 COVID-19 deaths -health ministry
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 28 (Reuters) - Japan on Wednesday recorded 415 COVID-19 deaths, the highest-ever count for a single day, health ministry data showed. The country counted 216,219 newly confirmed coronavirus cases on Wednesday, up 4% from a week earlier, the data also showed, approaching the record high of some 260,000 a day in August. In the past seven days, Japan had the world's largest confirmed COVID-19 infections and the second-most deaths after the United States, according to a tally by the World Health Organization. Reporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japan Nov factory output falls on weakening global demand
▼ + stars: | 2022-12-28 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

"The impacts of overseas rate hikes, slower growth and weak capital expenditure demand are gradually reaching Japan," said Masato Koike, economist at Sompo Institute Plus. "Production inevitably remains weak for October-December and highly likely stalls furthermore as the global economy hasn't hit its worst." That marked the third monthly decrease in Japanese production and followed a revised 3.2% fall in October and 1.7% contraction in September. Output of general machinery slipped 7.9%, while that of production machinery decreased 5.7%, driving down the overall index in November. METI cut its assessment of industrial output for a second straight month, saying "production is weakening".

☆ Japan's Kyocera to invest $9.8 bln for chips over FY2023-2025 -Nikkei
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 27 (Reuters) - Japan's Kyocera Corp (6971.T) plans to invest 1.3 trillion yen ($9.77 billion) for manufacturing facilities and development of semiconductor-related products over three years starting in the 2023/24 business year, the Nikkei daily reported on Tuesday. To fund the expansion for parts such as ceramics for chip-making equipment, Kyocera is looking to borrow up to around 1 trillion yen, using its 15% stake in KDDI Corp (9433.T) as collateral, the president Hideo Tanimoto told Nikkei in an interview. ($1 = 133.0900 yen)Reporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japan to deploy missile defence unit in Yonaguni, near Taiwan - Jiji
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 27 (Reuters) - Japan's Ministry of Defence will deploy a surface-to-air missile defence unit in Yonaguni Island, the country's westernmost island, near Taiwan, Jiji news reported on Tuesday. The instalment of missile troops is part of a plan to expand a Ground Self-Defense Force camp on the island, part of Okinawa prefecture, to reinforce defence of Japan's southwestern islands, Jiji quoted ministry spokesperson Takeshi Aoki as saying. Earlier this month, Japan unveiled its biggest military build-up since World War Two with a $320 billion plan that would buy missiles capable of striking China as regional tensions and Russia's Ukraine invasion stoke war fears. read moreReporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Fourth Japan minister exits PM Kishida's four-month-old cabinet
▼ + stars: | 2022-12-27 | by ( Sakura Murakami | ) www.reuters.com time to read: +1 min

[1/2] Japan's Reconstruction Minister Kenya Akiba visits at Yasukuni Shrine on the 77th anniversary of Japan's surrender in World War Two, in Tokyo, Japan August 15, 2022. REUTERS/Issei KatoTOKYO, Dec 27 (Reuters) - Japanese reconstruction minister Kenya Akiba tendered his resignation to Prime Minister Fumio Kishida on Tuesday, becoming the fourth minister to leave the cabinet created by Kishida in August. Three other ministers have quit in close succession due to scandals, some involving funding and ties with the Unification Church. "It was a difficult decision to make, but I tendered my resignation to the prime minister as I felt I must not hamper the debates in parliament," he added. Akiba will be replaced by former reconstruction minister Hiromichi Watanabe, Kyodo News reported on Tuesday.

"On Tuesday, all of a sudden I'm hearing the interest rates are going up," said the 48-year-old father of two. Like Nakamura, many Japanese fear they may eventually start paying more for mortgages. "Even a small increase would have a big impact on consumer incomes," said Masaaki Kanno, chief economist at Sony Financial Group and a former central bank official. Fixed-rates are seen rising first, because the central bank allowed 10-year yields to creep up. The company is telling them that floating-rate loans won't be affected as long as the central bank keeps short-term rates negative, he said.

☆ Japan govt revises up fiscal 2023 growth forecast on higher capex, wages
▼ + stars: | 2022-12-22 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

"Private sector demands will drive growth in fiscal 2023," the government said in a statement, although warning of downside risks from an overseas economic slowdown, inflation, supply bottlenecks and market fluctuations. The official forecast was much higher than economists' median estimate of a 1.1% expansion in a recent Reuters poll. The government and the BOJ have repeatedly called for higher pay hikes as a key to Japan's post-pandemic economic growth with sustainable price inflation. Meanwhile, it raised its consumer inflation forecast to a 3.0% increase from 2.6% seen in July. Higher wage growth and a sustained solid economic recovery are crucial to how quickly the BOJ can unwind its massive monetary stimulus.

☆ Japan to look into group's report of secret Chinese police stations
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

Safeguard Defenders, an Asia-focused rights group based in Spain, has published two reports since September indicating that Chinese authorities have established 102 overseas police stations in 53 countries, including Japan. Chinese authorities have dismissed the accusations and said the facilities are volunteer-run centres that help citizens renew documents and offer other services that were disrupted during the COVID pandemic. Matsuno said earlier that Japan had told Chinese authorities through diplomatic channels that "it would be unacceptable if there was any activity that violates Japan's sovereignty". Safeguard Defenders said in a September report that police from the Chinese city of Fuzhou had set up a "service station" in Tokyo. The group indicated in a follow-up report that police from the Chinese city of Nantong had another such station somewhere in Japan.

☆ Bank of Japan makes surprise policy tweak
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +8 min

ATUSHI TAKEDA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH, TOKYO:"Today's move reflects the BOJ's determination not to alter its yield cure control policy. CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY:"I think the move was certainly unexpected, to say the least. MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE:"They've widened the band, and I guess that came earlier than expected. CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:"The timing of the policy tweak is a surprise, though we have been expecting the move to come in 2Q 2023. "The tweak may seem modest but is significant for a central bank that has held dovish for a long time.

☆ Bank of Japan reviews yield-curve control policy
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +4 min

Dec 20 (Reuters) - The Bank of Japan has slightly loosened the shackles on its 10-year yield target and said it will review its yield-curve control policy, surprising financial markets and sending the yen sharply higher. However, it is only a first step and yield-curve control (YCC) remains in place, as does negative rate strategy. CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY:"I think the move was certainly unexpected, to say the least. MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE:"They've widened the band, and I guess that came earlier than expected. CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:"The timing of the policy tweak is a surprise, though we have been expecting the move to come in 2Q 2023.

Summary FY2023/24 budget likely hit record amount for 11th yearGovt to curb new JGB issuanceTax revenue seen hitting record above 69 trln yenTOKYO, Dec 20 (Reuters) - Japan will issue around 35.5 trillion yen ($258.52 billion) in new government bonds for the fiscal 2023/24 annual budget, government sources told Reuters on Tuesday, adding to the industrial world's heaviest public debt. The new borrowing is less than the 36.9 trillion yen last year, marking the second straight year of declines as authorities seek to curb borrowing costs, the sources said. Still, Japan's overall budget proposal for the 2023-24 fiscal year would likely top 114 trillion yen ($831.27 billion) extending a record amount for the 11th straight year. Several rounds of heavy stimulus have bloated fiscal spending by 1.4 times the amount of an initial budget spending plan in the past three years. That has likely made it even more difficult to achieve a primary budget balance excluding new bond sales and debt servicing costs by the fiscal year through March 2026.

TOKYO, Dec 20 (Reuters) - Japan is arranging the issue of new government bonds of around 35.5 trillion yen ($258.52 billion) for the fiscal 2023/24 annual budget, sources told Reuters on Tuesday, adding to the industrial world's heaviest public debt. Japan's budget spending plan for the fiscal year starting from April could be as high as 114 trillion yen, largely financed with bond issuance and record tax revenues, the Nikkei newspaper reported earlier on Tuesday. Japan is saddled with a debt burden of more than twice the size of its $5 trillion economy, the world's third largest. Several rounds of coronavirus stimulus spending measures have bloated fiscal spending by 1.4 times the amount of an initial budget spending plan. That has jeopardised the goal of achieving a primary budget balance excluding new bond sales and debt servicing by the fiscal year through March 2026.

☆ BOJ may unwind ultra-easy policy in 2023, nearly half of economists say- Reuters poll
▼ + stars: | 2022-12-19 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

TOKYO, Dec 19 (Reuters) - The Bank of Japan (BOJ) could unwind its ultra-loose monetary policy between March and October next year, according to almost half the economists in a Reuters poll on Monday, much sooner than predicted in previous projections. Of 26 economists polled, 11 expect the central bank will unwind its ultra-loose policy between March and October, the Dec. 8-15 poll found. Half, or 13, said the BOJ wouldn't scale back until 2024 or later and two still expect the next move to be more easing of policy. The most common means tipped by analysts for the BOJ to unwind stimulus would be a tweak to its forward guidance, according to 15 respondents. DEFENCE WITHOUT DEBTAsked about how Japan's defence budget spending increase would ideally be funded, nine of 20 economists chose tax hikes.

☆ Japan Dec factory activity contracts at fastest pace in 26 months
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 16 (Reuters) - Japan's manufacturing activity shrank at the fastest pace in more than two years in December on soft demand and persistent cost pressures, a corporate survey showed on Friday. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) was down to a seasonally adjusted 48.8 in December from a final reading of 49.0 in the previous month. Output and new orders extended their contraction for a sixth month in December, although at slower paces than last month. The au Jibun Bank flash services PMI rose to a seasonally adjusted 51.7 in December, from the previous month's 50.3 final, the survey showed. With subdued manufacturers and robust services, the au Jibun Bank Flash Japan composite PMI stood on the break-even line of 50.0, up from a final 48.9 last month.

☆ Tokyo makes solar panels mandatory for new homes built after 2025
▼ + stars: | 2022-12-15 | by ( Kantaro Komiya | ) www.reuters.com time to read: +1 min

TOKYO, Dec 15 (Reuters) - All new houses in Tokyo built by large-scale homebuilders after April 2025 must install solar power panels to cut household carbon emissions, according to a new regulation passed by the Japanese capital's local assembly on Thursday. The mandate, the first of its kind for a Japanese municipality, requires about 50 major builders to equip homes of up to 2,000 square metres (21,500 square feet) with renewable energy power sources, mainly solar panels. Tokyo Governor Yuriko Koike noted last week that just 4% of buildings where solar panels could be installed in the city have them now. The Tokyo Metropolitan Government aims to halve greenhouse gas emissions by 2030 compared with 2000 levels. "In addition to the existing global climate crisis, we face an energy crisis with a prolonged Russia-Ukraine war," Risako Narikiyo, a member of Koike's regional party Tomin First no Kai, said at the assembly on Thursday.

☆ Japan upgrades Q3 GDP as global recession, COVID risks linger
▼ + stars: | 2022-12-08 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

Japan's economy unexpectedly shrank in the third quarter as global recession risks, China's faltering economy, a weak yen and higher import costs hurt consumption and businesses. However, others are bracing for the global economy to tip into a recession next year, dealing a sharp blow to trade-reliant Asian exporters such as Japan. Before annualising, third-quarter GDP was down 0.2% on the previous quarter, compared with the initial contraction estimate of 0.3%. Among key sectors, private consumption, which makes up more than half of Japan's GDP, helped drive growth, though it was revised down. However, a weak yen and hefty import bills, which boost the cost of living, more than offset GDP growth contributors.

☆ Microsoft in 10-year commitment to bring Call of Duty to Nintendo
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 7 (Reuters) - Microsoft (MSFT.O) has entered into a 10-year commitment to bring the gaming title "Call of Duty" to Nintendo (7974.T) platforms, the chief executive officer of Microsoft Gaming, Phil Spencer, said in a post on Twitter on Wednesday. The agreement will bring the popular first-person shooter series from Activision Blizzard (ATVI.O) to Nintendo game consoles for the first time. Nintendo said the Microsoft announcement was true but declined to comment further. The announcement comes after Microsoft's planned $69 billion acquisition of the "Call of Duty" maker raised concern among regulators that the deal could stifle competition. Microsoft competes with Sony Group Corp (6758.T) and Nintendo in the global video game industry, which saw strong growth in recent years with people spending more time at home because of the coronavirus pandemic.

☆ Microsoft to bring Call of Duty to Nintendo, Sony on the spot
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 7 (Reuters) - Microsoft (MSFT.O) has entered into a 10-year commitment to bring the gaming title "Call of Duty" to Nintendo (7974.T) platforms, the chief executive officer of Microsoft Gaming, Phil Spencer, said in a post on Twitter on Wednesday. The agreement will bring the popular first-person shooter series from Activision Blizzard (ATVI.O) to Nintendo game consoles for the first time. "I think this is an attempt by Microsoft to pressure Sony into signing a deal with Activision and to make it easier for Microsoft to finish and close the deal with Activision," said Serkan Toto, founder of the Kantan Games consultancy. Microsoft competes with Sony and Nintendo in the global video game industry, which saw strong growth in recent years with people spending more time at home because of the coronavirus pandemic. Shares in Nintendo closed up 0.3% after the Microsoft announcement, outperforming the Nikkei average's (.N225) 0.7% slide and Sony's 1.3% fall.

☆ UK construction growth ebbs away as economy falters: PMI
▼ + stars: | 2022-12-06 | by ( Kaori Kaneko | Kantaro Komiya | ) www.reuters.com time to read: +1 min

LONDON, Dec 6 (Reuters) - Growth in Britain's construction industry slowed to a crawl in November as high borrowing costs and the gloomy economic outlook crimped building work, a survey showed on Tuesday. The S&P Global/CIPS UK Construction Purchasing Managers' Index (PMI) fell to a three-month low of 50.4 from 53.2 in October, barely above the 50 dividing line between growth and contraction. The survey's gauge of future activity sank to its lowest level since the onset of the COVID-19 pandemic, consistent with recession. With demand fading from the economy, various measures of price pressures from consumers and businesses have started to ease - including in Thursday's survey. The construction PMI's index of input prices fell in November to its lowest level since January 2021.

☆ Mercedes opens its first EV-only dealership in the world in Japan
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Mercedes-Benz logo is seen at the 43rd Bangkok International Motor Show, in Bangkok, Thailand, March 22, 2022. Mercedes-Benz has rolled out five electric models since 2019 and "sees further growth in the electric vehicle market in Japan," it said in a statement. Battery EVs have been slow to catch on in Japan, where domestic makers dominate the market. But foreign brands sold a record 2,357 EVs in November, surpassing a tenth of total imported car sales for the first time, according to the Japan Automobile Importers Association (JAIA). Across all car types, Mercedes-Benz sold 51,722 cars in Japan last year, making it the top-selling foreign vehicle brand, JAIA data shows.

☆ Japan tells China, Russia it has 'severe concerns' over joint air patrols -spokesperson
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 1 (Reuters) - Japan has told China and Russia it has "severe concerns" over their frequent joint air force activities around Japan's territory, Chief Cabinet Secretary Hirokazu Matsuno said on Thursday. "We will closely monitor the increasing cooperation between the two countries with a sense of concern," Matsuno, Japan's top government spokesperson, told a regular press conference, adding that Japan would "decisively protect" its territories. The Russian defence ministry on Wednesday announced its military and Chinese counterpart conducted joint patrols of strategic warplanes over the Sea of Japan and East China Sea. Reporting by Kantaro Komiya; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

For October-December, (Japan's) production will likely be almost flat or slightly decrease from the previous quarter," said Shumpei Fujita, economist at Mitsubishi UFJ Research and Consulting, pointing to the global economic slowdown as a culprit. Factory output fell 2.6% in October from a month earlier on a seasonally adjusted basis, government data showed on Wednesday. Production machinery output slipped 5.4%, taking a hit from soft demand for equipment to make semiconductors and flat-panel displays. While output of compact cars for the domestic market grew, production and shipment of export-oriented larger vehicles was down due to chip shortages, the METI official said. The impact of China's recent lockdown remains unclear, the METI official said, adding the spill-over effects for Japanese manufacturers may only appear in November or December statistics.

☆ BOJ's next move will unwind loose policy, 92% of economists say
▼ + stars: | 2022-11-29 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

Twenty-four of 26 economists in the Nov 15-25 poll said the BOJ's next action, if any, would be "unwinding its ultra-easy monetary policy". Widely known as the policy accord, it requires the central bank to achieve its 2% inflation target "at the earliest date possible." Among those who wanted a revision, seven called for more flexibly judging achievement of the inflation target. One BOJ watcher calling for change wanted a lower inflation target, and another said the BOJ's mandate should be enlarged to include targeting employment or wage rises. On Monday, Prime Minister Fumio Kishida rejected the idea of adding wage growth as a new monetary policy goal.

☆ BOJ's next move will unwind loose policy, 92% of economists say: Reuters Poll
▼ + stars: | 2022-11-29 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

Twenty-four of 26 economists in the Nov 15-25 poll said the BOJ's next action, if any, would be "unwinding its ultra-easy monetary policy". Widely known as the policy accord, it requires the central bank to achieve its 2% inflation target "at the earliest date possible." Among those who wanted a revision, seven called for more flexibly judging achievement of the inflation target. One BOJ watcher calling for change wanted a lower inflation target, and another said the BOJ's mandate should be enlarged to include targeting employment or wage rises. Two economists in the poll said the accord should simply be abolished.

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