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Japan plans a tax incentive to encourage wage hikes


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


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


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 »

Japan exports imports surge on strong demand


TOKYO: Japan’s exports rose 16 percent in November from a year earlier driven by robust overseas demand for cars and manufacturing equipment that is helping to sustain the longest economic expansion in more than 15 years. Customs data released yesterday showed the trade surplus for the world’s third-largest economy slipping 23 percent from the year before to 113.4 billion yen ... Read More »

Japan exports imports surge on strong demand in China US


TOKYO:  Japan has reported its exports rose 16 percent in November from a year earlier while imports jumped 17 percent. Customs data released Monday showed the trade surplus slipping to 113.4 billion yen ($1 billion) on exports of 6.92 trillion yen ($61.4 billion). Imports totaled 6.81 trillion yen ($60.4 billion). Exports to China surged 25 percent, helping drive a 20 ... Read More »

Japan November exports expected to grow on upbeat demand,


TOKYO: Japan’s exports are expected to have risen for a 12th straight month in November, a Reuters poll showed on Friday, as buoyant overseas demand helps drive a steady economic recovery. Exports are expected to have risen 14.6 percent in November from a year earlier, the poll of 19 economists showed, thanks to strong overseas demand for cars, semiconductor production ... Read More »

Japan planning targeted corporate tax relief,


TOKYO: Japan’s ruling Liberal Democrat Party has approved a tax reform package that will cut corporate rates for companies who increase employee wages and productivity. Companies that increase employee wages by three percent would be able to reduce their corporate tax rate down to 25 percent. A further cut to 20 percent would be possible for companies investing into improving ... Read More »

Japan’s ruling bloc approves big corporate tax cut to encourage wage hikes,


TOKYO: Japan’s ruling bloc approved a plan on Thursday to slash the corporate tax rate to around 20 percent from 30 percent but only for companies that raise wages aggressively and boost domestic capital spending. The carrot-and-stick approach is Prime Minister Shinzo Abe’s most aggressive step yet to convince companies to lift wages 3 percent, which he believes is needed ... Read More »

Japan finalizes income tax reform plan,


TOKYO: A fiscal 2018 tax plan endorsed by Japan’s ruling parties settles details of a shift in income tax burdens while recognizing that further adjustments will have to come down the road as the labor market charges. The tax panels of the ruling Liberal Democratic Party and junior partner Komeito adopted the outline’s general framework in a conference Tuesday. “We ... Read More »

Ruling bloc tax chiefs agree reforms that will raise income taxes for employees earning over (¥8.5 m) each year,


TOKYO: The tax policy chiefs of the ruling Liberal Democratic Party and its coalition partner, Komeito, agreed Monday to raise income tax for corporate employees earning over ¥8.5 million annually, starting on January 2020.   The agreement was reached in a meeting between Yoichi Miyazawa, chairman of the LDP’s Research Commission on the Tax System, and his Komeito counterpart, Tetsuo ... Read More »

Taiwan, Japan sign agreements on customs enforcement, cultural exchanges

taiwan japan

TAIPEI: Taiwan and Japan signed two memorandums of understanding Nov. 22 to boost collaboration on customs enforcement and cultural exchanges. The pacts were sealed at the conclusion of the annual Taiwan-Japan Economic and Trade Conference in Tokyo. Chiou I-jen, head of Taiwan-Japan Relations Association, and Mitsuo Ohashi, chairman of Japan-Taiwan Exchange Association, inked the accords on behalf of the two ... Read More »

Taiwan-Japan cooperation helps crack big drug smuggling operation


  TOKYO: Japan stopped a drug smuggling operation in its waters in August with the help of Taiwanese police, officials with Taiwan’s Criminal Investigation Bureau (CIB) said Monday, touting the case as a successful example of international cooperation in combating the drug trade. Acting CIB investigation squad chief Yang Kuo-sung (楊國松) trumpeted the success at a press conference on Monday, ... Read More »

Japan’s GDP fell 0.7% in September


TOKYO:  Japan’s real gross domestic product slumped 0.7% on the month in September, declining for the first time in five months, according to data released Wednesday by the Japan Center for Economic Research. Factors related to external demand pushed down growth by 0.4 percentage point. Exports sank 5.5% amid declines in shipments to major trading partners aside from China. U.S.-bound ... Read More »

BOJ can’t exit stimulus when inflation below 1%

BOJ keeps policy steady, maintains upbeat economic view

TOKYO: The Bank of Japan likely won’t be able to exit its massive stimulus programme while inflation is hovering below 1 percent, Takatoshi Ito, an academic who is a potential candidate to become the next BOJ governor, said on Wednesday. “What’s important is for inflation to accelerate, which would give (the BOJ) quite some flexibility in guiding monetary policy,” Ito, ... Read More »

Japan’s Sep zinc exports up 13.2% yr/yr

japan zinc export

TOKYO: Following is a table of Japan’s customs-cleared exports of zinc for September released by the Ministry of Finance on Tuesday. The figures are a total of special high grade (SHG) and prime western grade (PW) zinc. Figures are converted from yen to U.S. dollar using Japan Customs’ official conversion rate. Country Sep Yr/Yr Sep Year to end-Sep Yr/Yr list ... Read More »

Japan’s factory output seen down in September, rising trend intact

factory output

TOKYO: Japan’s industrial production was expected to show a fall in September after solid gains the previous month, a Reuters poll found, although analysts say the trend remains upward thanks to expanding global demand. Industrial output was seen down 1.5 percent in September from the previous month after revised growth of 2.0 percent in August, the poll of 19 economists ... Read More »

Japan consumer prices rise for 9th straight month


TOKYO: Japan’s core consumer prices marked a ninth straight month of annual gains in September but failed to accelerate from the previous month, underscoring the central bank’s huge task as it struggles to meet an ever-elusive 2% inflation target. Most of September’s scant inflation was driven by continued rises in energy costs, which were partly offset by falling cellphone bills ... Read More »

Japan inflation ticks up in September but way off BoJ target

inflation - 1

TOKYO: Japan’s consumer prices rose for the ninth straight month in September, official data showed Friday, but inflation remained well below the central bank’s target in the world’s third largest economy. Prices rose 0.7 percent from a year earlier after stripping out volatile prices for fresh food, the internal affairs ministry said, buoyed by a rise in energy costs such ... Read More »

Japan’s JERA signs three-year LNG contract with Petronas unit


TOKYO: JERA Co, Japan’s biggest liquefied natural gas (LNG) buyer, said on Wednesday it signed a three-year LNG purchase agreement with a subsidiary of Petroliam Nasional Bhd (Petronas) starting in 2018. JERA, the fuel purchasing joint venture between Tokyo Electric Power and Chubu Electric Power, will buy 2.5 million tonnes per year (tpy) of LNG from Malaysia LNG Sdn Bhd ... Read More »

BOJ warns of structural woes hurting private banks’ profits


TOKYO: Japanese banks lag behind their global counterparts in boosting profitability as they compete for dwindling lending opportunities in a shrinking market, the country’s central bank said on Monday. Prolonged ultra-loose monetary policy has squeezed margins of financial institutions in many advanced economies including Japan, where its central bank caps borrowing costs at zero percent through aggressive money printing to ... Read More »