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Metal detectors to combat gold smuggling at central Japan airport

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The Nagoya Customs said it has started using walk-through metal detectors at Chubu airport in Nagoya in the wake of a surge in gold smuggling. Smugglers try to evade the 8 percent consumption tax levied on imports of gold worth over 200,000 yen ($1,870) and resell it at a tax-inclusive price. About 90 units of the walk-through detectors are already ... Read More »

Bank of Japan tankan expected to show second straight fall in business sentiment

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Business sentiment among large Japanese manufacturers has declined moderately in June compared to three months ago — down for the second straight quarter — according to 14 private think tanks’ estimates ahead of the Bank of Japan’s ongoing tankan quarterly survey, which is seen as an important measure of the economy’s performance. The institutes’ forecasts on the diffusion index for ... Read More »

‘Japan’s business mood mixed, underlines fragile recovery’

FILE PHOTO: A man produces machine parts inside a factory in Tokyo August 12, 2013. REUTERS/Yuya Shino

TOKYO: Japanese manufacturers’ confidence improved for a second straight month in June but the service sector’s mood slumped from May’s record high level, a Reuters poll found, suggesting some fragility in the outlook after a first-quarter contraction. The monthly poll, which tracks the Bank of Japan’s (BOJ) closely watched tankan quarterly survey, found manufacturers’ confidence was expected to increase over ... Read More »

Japan earthquake: Child and two men dead and hundreds injured

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A strong earthquake in Osaka, Japan has killed at least three people, including a child, and injured more than 200. Airports in the area were closed for several hours, train lines interrupted and factories had to halt production. The 6.1 magnitude quake did not trigger a tsunami warning and nuclear plants in the area are operating normally. Japan lies in ... Read More »

Japan core machinery orders rebound, signal capex recovery intact

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TOKYO: Japan’s core machinery orders in April jumped the most since the start of 2016, reversing the prior month’s decline and raising some hopes for durable growth in capital expenditure seen as crucial for a recovery in the economy after a contraction in the first quarter. Core orders, a highly volatile data series regarded as an indicator of capital expenditure ... Read More »

Honda Jet business plane to go on sale in Japan next year

FILE PHOTO : Honda Motor's HondaJet business airplane is seen at Honda Aircraft Company in Greensboro, North Carolina, U.S., November 11, 2016.  REUTERS/Maki Shiraki/File Photo

TOKYO: Honda Motor Co. on Wednesday said it would start selling its six-seater business jet in Japan next year, as it seeks to expand global sales by tapping into demand from a growing class of high net-worth individuals. The automaker is currently awaiting certification for the plane both at home and in China, after having already received U.S. and European ... Read More »

Japanese startup closes in on dream of space tours

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TOKYO: Japanese spaceflight startup PD Aerospace plans to test an unmanned space plane with the goal of achieving manned spaceflights by 2023. The Nagoya-based company said it will speed up development of unmanned suborbital space planes, with test flights set for 2019. PD Aerospace eventually hopes to offer thrill-seekers five-minute flights at zero gravity, during which the space plane will ... Read More »

Japan jobless rate steady at 2.5 percent in April – government

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TOKYO: Japan’s jobless rate held steady in April and the availability of jobs also remained unchanged, government data showed on Tuesday. The seasonally adjusted unemployment rate stood at 2.5 percent, the Internal Affairs ministry said. The result matched the median estimate of economists polled by Reuters. The jobs-to-applicants ratio was 1.59 in April, unchanged from the previous month. The median ... Read More »

Tokyo stocks close mixed after trump cans N.Korea summit

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Tokyo:Tokyo stocks closed flat on Friday, shored up by bargain hunting after pessimism from Washington’s cancellation of a planned summit with North Korea. The benchmark Nikkei 225 index inched up 0.06 percent or 13.78 points to close at 22,450.79, while the broader Topix index slipped 0.22 percent or 3.95 points to 1,771.70. Read More »

EU Fears Offer To US Not Enough To End Trade Row

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Brussels,:The EU’s own top trade official warned Tuesday that the bloc’s last-ditch bid to persuade US President Donald Trump to back off stiff tariffs on metals imports from Europe fell short of expectations in Washington. Trade Commissioner Cecilia Malmstrom spoke ahead of talks of the EU’s 28 trade ministers to discuss an attempt to woo the US away from punishing ... Read More »

Uber to start first taxi-hailing pilot program in Japan

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TOKYO: Uber announced Tuesday it would start its first taxi-hailing pilot program in Japan this summer, as it bids to break into a tough market in the world’s third largest economy. The U.S. firm has found it difficult to penetrate the Japanese market, where risk averse passengers prefer to stick to their high quality traditional taxi service. Hailing a taxi ... Read More »

Tokyo Stocks Close Down On Profit-taking 22 May 2018

People are reflected in a display showing market indices outside a brokerage in Tokyo, Japan,  February 10, 2016. REUTERS/Thomas Peter

Tokyo, :Tokyo’s benchmark Nikkei index fell on Tuesday, snapping a three-day winning streak, as investors locked in profits ahead of a series of political events surrounding North Korea. The benchmark Nikkei 225 index lost 0.18 percent, or 42.03 points, to 22,960.34 while the broader Topix index was down 0.23 percent, or 4.18 points, at 1,809.57. Read More »

Sony Buys EMI Music Publishing In $1.9bn Deal

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Tokyo, :Japanese entertainment giant Sony on Tuesday unveiled a $1.9-billion deal to buy industry titan EMI Music Publishing, which has the rights to songs by the likes of Queen and Pharrell Williams. The deal adds a catalogue of more than two million songs — including some of the greatest hits from the 20th century — to Sony’s already huge repertoire. ... Read More »

Japan-US Trade Surplus Edges Up In April

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Tokyo,:Japan’s politically sensitive trade surplus with the US edged up in April, government data showed Monday, after Tokyo warned it may take retaliatory measures against US tariffs. Japan logged a surplus in April of 615.7 billion yen ($5.6 billion) with the US, up 4.7 percent after a 0.3 percent decline the previous month, as demand for cars and construction machinery ... Read More »

Japanese Hold As Many Credit Cards As Americans, But Do They Use Them?

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In Japanese society, there are more opportunities to receive a credit card than most other societies. If you live in Japan, you will be surprised by how often you are recommended to create a new credit card when making purchases at stores. They will offer you benefits such as getting extra discounts; earning points like miles, and receiving special services ... Read More »

Japan plans $400m hit on US goods in response to Trump tariffs

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Japan is considering slapping tariffs on US imports worth $409m in retaliation against steel and aluminium levies imposed by Donald Trump, public broadcaster NHK said on Thursday. As the Trump administration prepares to begin talks with China in Washington on Thursday aimed at averting a trade war, Japan said it was preparing to notify the World Trade Organisation of its ... Read More »

Xerox aborts $6.1bn sale to Japan’s Fujifilm

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Technology firm Xerox has ended its controversial sale to Japan’s Fujifilm after reaching a deal with activist investors Carl Icahn and Darwin Deason. Together, they own 15% of Xerox and had opposed the $6.1bn (£4.5bn) deal as they said it undervalued the firm. The decision ends months of infighting, including a major boardroom clear-out. However, Fujifilm has disputed Xerox’s “unilateral ... Read More »

Whisky-inspired code names cloaked Takeda’s $62 billion Shire gamble in secrecy — until cover was blown

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HONG KONG – Takeda Pharmaceutical Co.’s ambitions to expand in the lucrative U.S. health care market led the drugmaker to begin a painstaking examination of Shire PLC’s assets more than two years prior to striking a $62 billion deal. In particular, Shire’s neuroscience unit and its gastrointestinal products sparked Takeda’s interest. One hurdle, though, gave them pause: the steep purchase ... Read More »

Challenges await Takeda after $62 billion Shire victory

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Takeda Pharmaceutical Co.’s Chief Executive Officer Christophe Weber navigated rebuffs, critics and a plunging stock price to win a $62 billion (¥6.8 trillion) deal to acquire larger rival Shire Plc. Integrating the Japanese drugmaker — which began by selling herbal therapies 237 years ago — with the sprawling Irish company will be even more complicated. As the Osaka-based company’s first ... Read More »

Saudi-backed Vision Fund boosts Softbank profits

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Saudi Arabia: Japan’s SoftBank Group Corp. reported a record annual operating profit, in line with analyst estimates, buoyed by its investments in technology firms around the world. The company’s CEO also confirmed the sale of a majority stake in India’s largest e-commerce company Flipkart — in which it owns a 20 percent stake — to US retail giant Walmart, in ... Read More »