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Bank of Japan delays inflation timeline again

boj

TOKYO:  Japan’s central bank on Tuesday pushed back its timeline for reaching a high-profile inflation target, in the latest acknowledgement that Tokyo’s war on deflation is falling way below expectations. After a policy meeting, the Bank of Japan said it now expected prices to move “toward” 2.0 percent by March 2019, the latest in a series of delays. The new ... Read More »

Japan’s wooden bedroom furniture imports down 8% in July

imports

TOKYO: Year-on-year Japan’s wooden bedroom furniture imports in July were down 8% but there was an even sharper fall in month-on-month imports (-13%), ITTO reported. At 59% of all wooden bedroom furniture imports to Japan in July, China stands out as the main supplier. The second and third ranked suppliers in July were Vietnam (28%) and Thailand (6%). Compared to ... Read More »

Chiba police nab Ugandan for smuggling drugs in coffee packs

chiba

CHIBA: Police at Narita International Airport earlier this month arrested a 44-year-old Ugandan national for allegedly smuggling illegal drugs inside food packages, reports TV Asahi (Oct. 31). Earlier this month, customs officials found David Kabuma to be carrying kakuseizai, or stimulant drugs, concealed inside packages for coffee, peanuts and other food products after he arrived on a flight from Uganda. ... Read More »

Japan’s industrial output, retail sales stall in September

industrial

TOKYO: Japan’s industrial production was unchanged in September from a month earlier, falling short of forecasts, in the latest snapshot of Japan’s economy as the central bank board gathers to consider monetary policy. Retails sales were also unchanged, reflecting sustained weakness in consumer spending. The BOJ starts a two-day meeting on Monday during which it will review its inflation outlook ... Read More »

BOJ finds itself further behind 2% inflation target

boj logo 2

TOKYO: Facing grim consumer price data, the Bank of Japan is looking at downgrading its price outlook and pushing back the time frame for achieving its 2% inflation target, during its policy meeting next week. The consumer price index excluding fresh food prices fell 0.5% in September from a year earlier, Japan’s internal affairs ministry announced Friday. That marks the ... Read More »

Japan’s food export engine fires up

customs-export

TOKYO: Japan’s export engine built around cars and electronics has stalled, but the future could be using the country’s gourmet culture to cast itself as a purveyor of high-quality food. Prime Minister Shinzo Abe wants to increase agriculture exports by a third in the next three years to one trillion yen ($9.62 billion), although experts say he needs to aim ... Read More »

Japanese firm to import $220-M bananas yearly

IMPORT

TOKYO: A leading Japanese fruit distribution company is keen on importing an additional $220 million worth of bananas from the Philippines yearly starting next year. The agreement tapping Filipino farmers and rebel-returnees in Mindanao to supply 20 million boxes of bananas to Farmind Corporation will be forged during President Duterte’s visit to Tokyo. The President arrived in Japan on Tuesday ... Read More »

Japan’s export, import values slip in September

export import

TOKYO: Japan’s exports fell 6.9 percent year-over-year in September to 5.97 trillion yen (U.S. $57.3 billion) as manufacturers faced headwinds from the stronger yen. Economists surveyed by the Wall Street Journal projected Japan’s exports in terms of value would decline 10.6 percent, while economists polled by Reuters estimated a 10.4 percent drop. Japan’s imports experienced an even steeper decline than ... Read More »

Japan’s exports drop 6.9% on year in Sept., imports down 16.3%

DECREASES

TOKYO: Japan’s exports dropped 6.9 percent in September from a year earlier, marking the 12th straight month of decline, the Finance Ministry said in a preliminary report Monday. The latest retreat of the nation’s exports came on the heels of a 9.6 percent slump logged a month earlier, the ministry said, as oversees demand remains sluggish. Imports, meanwhile, declined 16.3 ... Read More »

Japan expects wheat production to drop significantly

wheat barley

TOKYO: Following a record wheat crop in 2015, Japan’s production for 2016 is expected to decrease significantly due to unfavorable weather conditions. Total Japanese production is estimated to decrease 25% to 760,000 tonnes, when factoring in harvest from Hokkaido, according to an Oct. 17 Global Agricultural Information Network report from the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS). About 65% ... Read More »

Japan trading houses eye resuming Iran oil imports

OIL IMPORTS

TOKYO: Japanese traders including Marubeni Corp. and Sumitomo Corp. that stopped buying Iranian oil during western sanctions are looking to resume imports, potentially by year-end, industry sources said, The Japan Times reported. Conservative Japanese firms have so far held off taking Iranian crude due to a lack of internationally acceptable insurance coverage, but are looking at ways of using cover ... Read More »

Japan shares rise as exporters boost gauge, developers rebound

profit rises

TOKYO: Japanese stocks advanced to close at the highest level in almost five months as investors bought brokerage and developer shares on appealing valuations while exporters climbed as the yen fell for the first time in four days. The Topix index closed at its highest level since May 31, while also ending the day at its most expensive relative to ... Read More »

Jordanian-Japanese Business Forum to convene October 27

japan-jordan

AMMAN: The Jordan Investment Commission (JIC) on Tuesday held  the first meeting of the preparatory committee for the Jordanian-Japanese Business Forum, which is slated for October 27.  At the meeting, JIC President Thabet Al Wir commended Japan’s support for the Kingdom in the fields of investment, trade and economy and highlighted the importance of the upcoming forum. The forum will ... Read More »

Japan Sept petchem naphtha imports fall 34% y/y

shares fall

TOKYO: Japan’s naphtha imports for the petrochemical sector fell 34 percent in September from the same month a year ago, government figures showed on Monday. Imports of naphtha for ethylene production totalled 0.87 million tonnes last month, down from 1.31 million tonnes in the same month a year earlier, the Ministry of Economy, Trade and Industry said. Read More »

Japan’s imports of Iran’s oil up 26%

imports

TOKYO: The latest official figures show that Iran’s exports of crude oil to Japan increased by almost a quarter from January to August.  Figures released by Japan’s Ministry of Economy, Trade and Industry show that Iran’s oil exports to Japan during the period stood at an average of about 216,000 barrels per day (bpd).  This is about 26 percent higher ... Read More »

Japan’s Fujifilm to invest in china resources pharmaceutical group

invest

TOKYO: Fujifilm Corporation, a Japanese maker of photographic films, digital cameras and medical systems, announced Thursday that it has reached an agreement to subscribe for ordinary shares worth HK$820 million ($106 million) in China Resources Pharmaceutical Group Limited. The purchase will take place in the Chinese drug maker’s planned initial public offering and new listing on the Main Board of ... Read More »

Japan LNG imports to see structural decline

Morocco to shortlist 3 firms for LNG imports deal

TOKYO: LNG imports by the world’s largest consumer of the fuel Japan is set to see a structural downtrend over the next 10 years (2016-2025), as muted economic performance, negative demographic trends and growing competition from alternative energy sources such as coal and oil drag on overall gas demand, said BMI Research. In the short-to-medium term, the research firm however ... Read More »

Japan eyes allowing data seizures to snare tax cheats

sales tax

TOKYO: Japanese tax authorities may soon have the power to seize such online data as email and digital documents in tax evasion probes, bringing efforts to curb cheating into the modern age. The Ministry of Finance will detail planned revisions to investigation rules when the government’s Tax Commission meets this month. Legislative changes needed to allow such measures as data ... Read More »

Japan’s wooden widows imports down 8% in 1H 2016

imports

TOKYO: First half 2016 imports of wooden widows into Japan were down 8% year-on-year. June imports were down by the same amount compared to levels in June last year and compared to May, June imports were down 9%, ITTO reported. In contrast to the other products reported the spread between supply countries is closest with wooden windows. The top suppliers ... Read More »

Japan stocks slip before US jobs data

aus shares slips

TOKYO: Japanese stocks slipped on Friday amid investor caution before an impending US jobs report that could impact near-term direction for risk asset markets. The Nikkei fell 0.2 per cent to 16,860.09, snapping four sessions of gains. The index still rose 2.5 per cent on the week, helped by a sharp slide in the yen versus the dollar. Seven & ... Read More »