Tuesday , January 16 2018
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Japan

Japan to revamp GDP data to reflect sharing economy

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TOKYO: Japan is set to revamp how it measures gross domestic product data in the coming years by better incorporating new consumption trends such as the sharing economy and chasnging quality of education and medical services, officials said on Monday. The move comes in response to criticism the country’s economic data fails to grasp actual economic activity as analysts see ... Read More »

Japan retailers struggle to raise prices even as economy gains

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TOKYO:  Japan’s economy is gathering steam, profits are at record levels and companies are poised to raise wages  yet retailers and restaurant chains are struggling to lift prices for fear of losing customers conditioned by nearly two decades of deflation. This predicament could undermine the sustainability of Japan’s recovery and highlights just how difficult it will be for the central ... Read More »

Japan posts current account surplus of ¥1.35tr in November

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TOKYO: Japan posted a current account surplus of ¥1.35 trillion ($12 billion) in November on robust earnings from foreign investments, marking the 41st straight month of black ink, government data showed Friday. But the surplus shrank 5.6 percent from a year ago as trade-reliant Japan had a smaller trade surplus of ¥181.0 billion in November due to a surge in ... Read More »

Experts doubt lifting of Japan food ban

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TOKYO: Curbs on imports of Japanese food produced in areas hit by the country’s nuclear crisis will not be easily relaxed or lifted, and Chinese consumers won’t accept such imports given food safety concerns, experts said. The comments came after reports in the Japanese media said that China will probably relax import restrictions on Japanese food that were put in ... Read More »

Look for value in Japan emerging markets

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TOKYO: Market confidence is supported by a reasonably strong cyclical upswing in world GDP growth. This is being translated into corporate earnings growth, [and is supported] by a belief that central banks will not significantly tighten monetary policy unless justified by growth and inflation data, and by the U.S. corporate tax cuts announced in December which will boost Wall Street ... Read More »

Japanese suppliers export to Pyongyang amid trade sanctions

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TOKYO: Last December 14th, Japanese law enforcers arrested three men in Shibata City, Niigata Prefecture, including Yuzuru Yachida, 47, the CEO of M-Create Inc., an environmental installation company. The charges: violations of the foreign exchange law violationsspecifically, exporting without a license. They are suspected of involvement in the illegal export of foodstuffs to North Korea. Authorities carried out searches on ... Read More »

Prospects for Japan’s economy in 2018

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TOKYO: They expect Japan’s exports to grow this year, led by strong global demand. They also say consumer spending will moderately rise, because of an improved job market. Ten think tanks project Japan’s gross domestic product will expand 1 to 1.3 percent in price-adjusted real terms in fiscal 2018, which starts in April. Japan’s economy began picking up in December ... Read More »

Japan prepared to lift its ban on beef imports from Uruguay

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TOKYO: Japan is planning to lift a ban on beef imports from Uruguay next year, ending a more than 17-year embargo following the outbreak of foot-and-mouth disease in the South American nation in 2000, according to government sources in Tokyo.  Following on-site checks, an expert panel of the Agriculture, Forestry and Fisheries Ministry determined in early December that sufficient safeguards ... Read More »

Japan METI says Nov Saudi crude imports rise 19% month to 1.39m

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TOKYO: Japan crude oil imports from Saudi Arabia rose 19.3% month on month to an average of 1.39 million b/d in November, preliminary data released Thursday by the Ministry of Economy, Trade and Industry showed. the Saudi crude imports in November were also up 12.5% from the same period a year earlier on a barrel-per-day basis. Japan’s crude imports from ... Read More »

Tea maker Ito En to sip sweet profits as Asia enforces sugar tax

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TOKYO: Riding on the success of its newly designed bottles and a growing appetite for Japanese cuisine abroad, tea maker Ito En is rolling toward its second straight record net profit. But the sweet news does not stop there. The Tokyo-based company is about to get an unexpected tail wind from the spread of sugar taxes, especially in Southeast Asia. ... Read More »

Pak must take steps to increase exports to Japan

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TOKYO: Consul General of Japan, Toshikazu Isomura has said that the trade balance is in favour of Japan and Pakistani Government must take steps to increase the export trade with Japan. He was talking to the delegation of Rice Exporters Association of Pakistan (REAP) led by the Senior Vice Chairman, Rafique Suleman and Secretary REAP Altaf Hussain Shaikh was also ... Read More »

Japan nuclear exports carry risks rewards

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TOKYO: Power in 2012 at the height of post Fukushima anti nuclear sentiment, Prime Minister Shinzo Abe has promoted nuclear energy as a pillar of his economic agenda at home and abroad. Indeed, despite the industry’s diminishing domestic prospects, his return to office signals the continuation of policies promoting Japanese nuclear technology abroad as a means of addressing the nation’s ... Read More »

Japan government to promote fugu exports to Asia

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TOKYO: The government plans to promote exports of fugu, a traditional luxury food item in Japan, targeting wealthy people in China and other Asian nations, according to sources. Fugu, or puffer fish, are rarely seen in overseas marketplaces because of the poison they contain, but the government is aiming to make the product a big seller among the country’s agricultural ... Read More »

Japan proposed departure tax draws mixed views poses challenges

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TOKYO: Japan’s planned introduction of a “departure tax” on international travelers has received a mixed response, with many questions yet to be answered about how the revenues will be spent. Hopes are high that the recent tourism boom will continue beyond the 2020 Tokyo Olympics and Paralympics, when the government aims to attract 40 million visitors to the country that ... Read More »

Japan U.S. LPG imports to hit record in 2017 top the Middle East

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TOKYO: Japan’s liquefied petroleum gas (LPG) imports from the United States are expected to double in 2017 to a record and account for around for around half of its total purchases, government and shipping data showed. The surge comes as shale oil and gas output lifts overall U.S. production to rival that of Saudi Arabia and Russia. As with crude ... Read More »

Japan US LPG imports to hit record

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TOKYO: Japan liquefied petroleum gas (LPG) imports from the United States are expected to double in 2017 to a record and account for around for around half of its total purchases, government and shipping data showed. The surge comes as shale oil and gas output lifts overall US production to rival that of Saudi Arabia and Russia. As with crude ... Read More »

Japan EU trade deal seen boosting Japan GDP by one percent per year

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TOKYO: A free trade deal with the European Union would boost Japan’s gross domestic product (GDP) by 1 percent annually once the benefits fully kick in over 10-20 years, a government estimate showed on Thursday. Prime Minister Shinzo Abe has been promoting free trade as a pillar of his growth strategy. Japan and the EU, which concluded negotiations on the ... Read More »

Japan plans a tax incentive to encourage wage hikes

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TOKYO:  Having grown impatient with Japan Inc.’s hoarding of cash, the Japanese government will introduce provisions in its corporate tax rules starting in fiscal 2018 to encourage companies to raise wages and boost capital investment. That is equal to 40% of Japan’s gross domestic product and up by more than a third from five years earlier. Prime Minister Shinzo Abe ... Read More »

Japan is the largest importer of Korean drugs

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TOKYO: According to the 2017 pharmaceutical industry data and statistics information released by the Korea Pharmaceutical and Bio-Pharma Manufacturers’ Association, Korea exported $3.12 billion (3.39 trillion won) worth pharmaceutical ingredients and finished drugs last year, and imported $5.84 billion (6.36 trillion won) worth. Korea’s leading news portal, the Korean Biomedical Review, detailed in its report that South Korean pharmaceutical companies’ ... Read More »

Japan LNG imports seen down to 81m in 2018-19 financial year: IEEJ

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TOKYO: Japan’s LNG imports are expected to drop to 81 million mt in the 2018-19 fiscal year which starts in April, down 2.2% from projected LNG imports of 82.8 million mt in the current fiscal year as more nuclear reactors restart, the Institute of Energy Economics, Japan said Tuesday. The forecast is based on the assumption the number of nuclear ... Read More »