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Tokyo shares soar on US-China trade détente

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TOKYO — Tokyo shares soared on Monday after the United States and China agreed a ceasefire in their trade war that has damaged the global economy. The benchmark Nikkei 225 index rose 2.13 per cent, or 454.05 points, to 21,729.97, while the broader Topix index ended up 2.17 per cent, or 33.71 points, at 1,584.85. “The market enjoyed a major ... Read More »

US goods trade deficit with Japan shrinks 26.1% in May

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The US merchandise trade deficit with Japan shrank 26.1 percent in May from the previous month to $5.35 billion (¥576.8 billion), the Commerce Department said Wednesday. The deficit with China, meanwhile, expanded 12.2 percent to $30.20 billion, the department said. For the reporting month, Japan ranked as having the United States’ fourth-largest trade deficit after China, Mexico and Germany. U.S. ... Read More »

Inpex inks $20 billion deal on Abadi LNG project, the largest investment ever in Indonesia

The logo for Inpex Corp. is displayed at the company's headquarters in Tokyo, Japan, on Thursday, May 15, 2008. Photographer: ROBERT GILHOOLY/Bloomberg

Japan’s Inpex Corp. reached a new deal with Indonesia on the $20 billion Abadi liquefied natural gas project, a key step toward reviving work on the long-stalled venture that’s expected to be the biggest-ever investment in the Southeast Asian nation. A heads of agreement between the two includes an extension of the company’s contract to operate the Masela block by ... Read More »

Dollar almost unchanged around ¥108.30 in late Tokyo trading

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The dollar was almost flat around ¥108.30 in Tokyo trading late Thursday after overcoming its early weakness. At 5 p.m., the dollar stood at ¥108.34-35, against ¥108.31 at the same time Wednesday. The euro was at $1.1294, down from $1.339-1340, and at ¥122.37, down from ¥122.82. After moving around ¥108.40 in early trading, the dollar fell below ¥108.20 in midmorning ... Read More »

Japan business card app operator Sansan prices IPO at top of range, raises $360 million

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TOKYO: Japanese business card management company Sansan Inc priced its initial public offering (IPO) at the top of an indicative range on Friday, a regulatory filing showed, raising 38.9 billion yen ($360 million). Sansan said in the filing the IPO had been priced at 4,500 yen per share, at the top of a book-building range of 4,000-4,500 yen, valuing the ... Read More »

Coca-Cola to start using 100% recycled plastic bottles in Japan

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Coca-Cola (Japan) Co said it will start selling a beverage product next week using plastic bottles made entirely from recycled plastics. The move comes as beverage companies around the world are increasingly moving toward more sustainable packaging in a bid to protect the environment from plastic wastes. Coca-Cola will use the new plastic bottles when it launches its revamped Hajime ... Read More »

Japan business lobby urges sales tax hike to proceed as planned

FILE PHOTO : Japan's Prime Minister Shinzo Abe speaks to media after phone talks with U.S. President Donald Trump (not pictured) after second North Korea-U.S. summit, at Abe's residence in Tokyo, Japan February 28, 2019. REUTERS/Issei Kato

TOKYO: The head of a Japanese business lobby said a planned sales tax hike should proceed in October to sustain the social security system for a rapidly ageing population, despite calls from elsewhere to postpone it given growing economic challenges. The intensifying Sino-U.S. trade war and slowing Chinese economy threaten to derail Japan’s export-reliant economy, keeping alive expectations that Prime ... Read More »

Dollar edges slightly higher to ¥109.57 in Tokyo

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The dollar on Monday crept up above ¥109.55 in lackluster Tokyo trading. At 5 p.m., the dollar stood at ¥109.57-57, up from ¥109.53-53 at the same time Friday. The euro was at $1.1196-1197, up from $1.1188-1188, and at ¥122.68-68, up from ¥122.54-55. The dollar firmed in late trading after fluctuating mostly around ¥109.45 amid a dearth of fresh trading incentives, ... Read More »

Japan exports fall again as Trump’s trade policy threatens economic outlook

FILE PHOTO: A man repairs a container at an industrial port in Tokyo, Japan, February 22, 2019. REUTERS/Kim Kyung-hoon/File Photo

Japanese exports contracted for the fifth month in April due to a slump in shipments of chip-making equipment to China, underlining the growing threat to the world’s third-biggest economy from a bruising Sino-U.S. trade war. Data also showed Japan’s trade surplus with the United States rose for a second month as auto exports accelerated, which could draw U.S. President Donald ... Read More »

Japan economy beats expectations of slowdown

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Japan’s economy unexpectedly grew in the three months to March, shrugging off forecasts for a contraction in the world’s third largest economy. The economy grew at an annualised 2.1% in the period, preliminary gross domestic product (GDP) data showed. That beat analyst expectations for a 0.2% contraction, as imports fell faster than exports. The data were closely watched for any ... Read More »

PHL, Japan working on new labor initiatives

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THE Philippines and Japan are now collaborating on new labor initiatives to further strengthen the ties between the two countries, the Japanese ambassador to the Philippines said. Japanese Ambassador to the Philippines Koji Haneda made the statement as the Philippines and Japan celebrated ties in the “Reiwa era” under newly ascended Emperor Naruhito on Tuesday. Haneda also said deepening people-to-people ... Read More »

Toshiba net profit up 26% in fiscal 2018 after selling chip unit

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Toshiba Corp. said Monday its group net profit in the year ended March rose 26 percent to a record ¥1.01 trillion after selling its prized chip unit in June. The technology conglomerate’s bottom line was boosted by the ¥2 trillion ($18 billion) sale of Toshiba Memory Corp. to an international consortium including US private equity firm Bain Capital LP, Apple ... Read More »

Japan April services PMI slips as new business growth slows

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TOKYO: Activity in Japan’s services sector expanded at a slightly slower pace in April than the previous month as growth in new business slowed, a business survey showed on Wednesday. The Markit/Nikkei Japan Services Purchasing Managers’ Index (PMI) edged lower to a seasonally adjusted 51.8 in April from 52.0 in March. The index stayed above the 50 threshold that separates ... Read More »

SoftBank considers IPO of $100 bil Vision Fund

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Japan’s SoftBank Group Corp is considering an initial public offering of its $100 billion Vision Fund, a source familiar with the matter said. The fund was set up in 2017 and has become the world’s largest technology investment fund. Its investments include ride-hailing pioneer Uber, chip designer ARM and shared workspace firm WeWork. The company has publicly stated it plans ... Read More »

Japanese Woman Arrested For Smuggling 19 Lizards In Australia

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A Japanese woman appeared in court on Wednesday after being detained at the Melbourne International Airport for attempting to smuggle 19 lizards out of the country, officials said. According to the Australian Border Force (AFB), the 27-year-old woman was targeted following a tip-off from the agency’s international network which has been on high alert recently after two other similar cases ... Read More »

Airlines evolve to help UK–Japan business travellers

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Tokyo : For some, travelling for business is a perk. For others, it is a chore. Business-class privileges can make all the difference in this perception—especially for people who travel often. As Japan pursues more foreign direct invest­ment and a more prominent role as a global business hub, the number of travellers coming and going from its shores has steadily ... Read More »

Japan exports hit by weak China demand, raising risk of economic contraction

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Japan’s exports fell for a fourth straight month in March as China-bound shipments slumped again, reinforcing growing anxiety that weak external demand may have knocked the economy into contraction in the first quarter. Ministry of Finance data out on Wednesday showed exports fell 2.4 percent in March from a year earlier, compared with a 2.7-percent drop predicted by economists in ... Read More »

Amazon Japan raises Prime membership fee for first time in 11 years

FILE PHOTO: Amazon.com's logo is seen at Amazon Japan's office building in Tokyo, Japan, August 8, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Amazon.com Inc’s Japanese unit raised the membership fee for its Prime service by 26 percent, the first such hike since it was launched in the country 11 years ago. The new annual Prime membership fee is 4,900 yen versus 3,900 yen previously, Amazon said in a statement. The e-commerce giant did not provide a reason, but pointed to the growing ... Read More »

Hong Kong’s equity market surpasses Japan as world’s third largest in value

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HONG KONG: Bragging rights to Hong Kong, for now. The city’s equity market overtook Japan earlier this week to be the world’s third largest in value, behind only the U.S. and mainland China, courtesy of a rebound in Hong Kong stocks after their worst year since 2011. Hong Kong’s market cap was $5.78 trillion as of Tuesday, compared with $5.76 ... Read More »

Nomura axing jobs and bank branches to cut costs by $1 billion

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Nomura Holdings will cut $1 billion in costs from its wholesale business and shut more than 30 of 156 domestic retail branches in its latest overhaul, the ailing bank said. Nomura also plans to ax about 100 jobs in London — the center for its European investment banking business — as part of the overhaul, a banking source told Reuters ... Read More »