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Japan’s imports of wooden bedroom furniture dropped 9% in June

imports

TOKYO: The volatility in the value of Japan’s imports of wooden bedroom furniture continued into June 2017. After appearing to recover in May the value of June 2017 imports dipped again dropping 9%, as ITTO reported. Year-on-year, June 2017 imports of wooden bedroom furniture dropped 9%. China was the main supplier in June, continuing its dominance of bedroom furniture imports ... Read More »

Japan Aug petchem naphtha imports rise 10% y/y

Morocco’s auto industry exports likely to rise to $10b by 2020

TOKYO:  Japan’s naphtha imports for the petrochemical sector rose 10 percent in August from the same month a year earlier, government figures showed on Thursday. Imports of naphtha for ethylene production totalled 1.24 million tonnes last month, up from 1.13 million tonnes in the same month a year earlier, the Ministry of Economy, Trade and Industry said. Following is a ... Read More »

Japan, Thailand sign 7 deals to strengthen economic ties

economic ties

BANGKOK: The Thai government and its Japanese trade counterpart on Tuesday (Sept 12) signed seven formal agreements covering industrial upgrades, investment in the Eastern Economic Corridor (EEC), human development, and support for small and medium-sized enterprises. The signing took place at the symposium on Thailand 4.0 Towards Connected Industries, hosted by the Thai government. Hiroshige Seko, Japan’s minister of Economy, ... Read More »

Bank of Japan continues to distort ETF market

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TOKYO: There is no doubt that the past seven years have been a watershed for macroeconomic policy, as well as financial markets, as central banks have ardently cast aside the accepted playbook and moved into the realm of policy experimentation. Subsequently, what was birthed was the quantitative easing process which saw the Bank of Japan inject huge amounts of money ... Read More »

Japan Post confirms $12.1bn share sale

A woman walks out from a branch of postal service operator Japan Post in Kawasaki

TOKYO: The Japanese government has launched the $12.1bn follow-on sale of a stake in Japan Post Holdings. It is the first equity offering from the group since a three-way initial public offering in 2015 of the company and its banking and insurance subsidiaries, which was the biggest privatisation in Japan since the 1980s. The government will sell up to 1bn ... Read More »

Japan shoots to quadruple rice exports by 2019

importexports

TOKYO: Japan aims to quadruple exports of rice and rice products to 100,000 tons in 2019, the agriculture ministry said Friday, but the food staple’s price abroad may hinder the effort. Exports last year totaled about 24,000 tons, of which roughly 10,000 tons consisted of rice consumed as a staple. The equivalent of around 11,000 tons was exported in the ... Read More »

Governments around Japan plan to adopt lodging tax to offset impacts of tourism

raise tourism tax

TOKYO: An increasing number of local governments are planning to introduce a lodging tax to finance tourism promotion and ease the load on infrastructure amid record-breaking arrivals of travelers from abroad. Local governments are allowed to adopt an accommodation tax by ordinance. The Tokyo Metropolitan Government became the first to introduce such a tax, in October 2002, charging ¥100 to ... Read More »

Japan to import 10,000 tons of feed wheat via tender

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TOKYO: Japan’s Ministry of Agriculture said it would import 10,000 tonnes of feed-quality wheat via a simultaneous buy and sell (SBS) auction that closed late on Wednesday. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Dec. 31 and arrive in Japan by Feb. 28, 2018 in the tender. It ... Read More »

Japan power companies’ LNG consumption down 8% in May YOY

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TOKYO: Japanese power companies consumed 3.57 million tonnes of liquefied natural gas (LNG) for power generation in May, down 8 percent from a year earlier, preliminary electricity data from the Ministry of Economy, Trade and Industry showed on Monday. Following is a table outlining usage of main fuel by type, but it excludes fuel used for in-house power generation. Units ... Read More »

Japan invests in Cambodia’s deep-water port

INVESTMENT

TOKYO: The government-run aid organization Japan International Cooperation Agency (JICA) has given the green light to a $209 million low-interest loan for a new container terminal at Sihanoukville Autonomous Port, Cambodia’s only deep-water seaport. The agency has also purchased a direct equity stake of 13.5 percent. Construction will start in 2019, and when completed in 2023, it will raise the ... Read More »

Japanese beef buyers may get frozen out by tariff hike

employement rises

TOKYO: Japan’s newly imposed emergency tariff on frozen American beef has raised a question about the wisdom of hanging on to a relic of a bygone trade framework when securing enough beef to meet domestic demand could become a challenge amid the tightening global supply. According to media reports, Japanese imports of US beef abruptly skyrocketed around mid-May. The safeguard ... Read More »

Trade surplus between Japan, Kuwait soars 48.1%

Denmark trade surplus

TOKYO: Kuwait’s trade surplus with Japan expanded by 48.1 percent from a year earlier to JPY 31.6 billion (USD 288 million) in July, up for the seventh month, thanks to robust exports, the Japanese Finance Ministry said Thursday. Kuwaiti overall exports to Japan increased 28.1 percent year-on-year to JPY 42.8 billion (USD 389 million) for the seventh consecutive month of ... Read More »

Japan GDP unexpectedly puts it atop G7

Japan GDP unexpectedly puts it atop G7

TOKYO: Japan’s second-quarter GDP data put the nation in an unexpected spot: at the top of the growth table among G7 advanced economies. The strongest domestic demand in years helped drive Japanese GDP to a sixth consecutive quarter of expansion, elevating hopes for a sustainable recovery in an economy that’s been better known in recent years for tepid inflation and ... Read More »

Japan’s shrimp imports continue recovery in H1

vn shrimp

TOKYO: Japan’s imports of shrimp continued to recover in the first half of 2017, while Vietnam overtook Indonesia to become the country’s biggest supplier. According to Japanese customs data provided by International Trade Center (ITC), Japan’s imports of shrimp between January and June amounted to 62,637 metric tons, up 6.2% compared with the corresponding period in 2016. This follows on ... Read More »

Japan July exports seen rising for eighth straight month

Philippines Jan. exports rise at fastest pace in 3 years

TOKYO: Japan’s exports were expected to record an eighth straight month of growth in July, a Reuters poll found, suggesting robust offshore demand could underpin moderate economic recovery. Exports are expected to have risen 13.6 percent in July from a year ago, accelerating from a 9.7 percent increase in June, the poll of 15 economists found. Imports were seen likely ... Read More »

JTA plans to raise tourism tax

raise tourism tax

TOKYO: The Japan Tourism Agency (JTA) is considering a departure tax to raise funds for promoting Japan as a tourist destination overseas. JTA Commissioner Akihiko Tamura told local media last month that proposals for a departure tax were being developed, and that it would apply to both Japanese citizens and foreign visitors leaving the country. It has been estimated that ... Read More »

Japan’s GDP dips 0.1% in June

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TOKYO: Japan’s real GDP fell by 0.1% in June from a 0.5% grow in May, due to the lowest recorded overseas demand in two months, Nikkei Japan said in a report. The Japan Center for Economic Research said in its GDP estimate that weak US and EU-bound shipments diminished the country’s exports by 1%. Imports also rose by 1.7%. Housing ... Read More »

Japan consumer confidence rises more than forecast

Philippines Jan. exports rise at fastest pace in 3 years

TOKYO: Japan’s consumer confidence improved more-than-expected in July to the highest level in four months, survey data from the Cabinet Office showed Wednesday. The seasonally adjusted consumer confidence index rose to 43.8 in July from 43.3 in June. The score was expected to increase to 43.5. Moreover, the latest reading was the highest since March, when it marked 43.9. The ... Read More »

Consumption tax key to fixing Japan’s debt-ridden finance: IMF

IMF

TOKYO: The consumption tax should remain at the heart of revenue reform in Japan, but the pacing of rate increases is crucial, the International Monetary Fund said Monday. Citing the need for fiscal consolidation to address risks from Japan’s high level of public debt, the IMF said, “The consumption tax remains a preferred option for raising additional revenue given its ... Read More »

Japan’s JX to sell North Sea oil field stake to Faroe Petroleum

jx-holdings1

TOKYO: JX Nippon Oil and Gas Exploration Corp said on Friday that its United Kingdom-based subsidiary has agreed to sell a stake in a North Sea oil field to Faroe Petroleum Ltd. JX Nippon Exploration and Production (U.K.) will sell its 17.07 percent interest of U.K. Licence P111 Block 30/3a, comprising a part of the Blane oil field, the company ... Read More »