Page 13 - Japan

European stocks head higher on UK policy turnaround; yen hits fresh low

European stock indexes opened higher on Tuesday, in a revival of risk appetite which analysts attributed to the turnaround in UK fiscal policy

Asian govts spent $50 bn in Sept to defend currencies from strong US dollar

Dollar sales in the region over the first nine months of the year have reached approximately $89 billion including Japan, marking the most active period for foreign-exchange expenditures

Sitharaman holds talks with Saudi, Netherlands, S Korea, Japan counterparts

Union Finance Minister Nirmala Sitharaman on Wednesday held bilateral meetings with her counterparts from Japan, Saudi Arabia, the Netherlands, and South Korea as part of the Indian efforts to strengthen its economic ties with major countries of the world. Being held on the sidelines of the annual meeting of the International Monetary Fund (IMF) and the World Bank, the finance minister, in addition to bilateral issues, discussed with them some of the major economic challenges being faced by the world, prominently the energy crisis and inflation in the wake of the Ukrainian war, debt sustainability, and climate change. India's emergence as a bright spot during the current global downturn and some of its successful policies such as digitisation and direct cash transfer were appreciated by her counterparts. The finance minister used the occasion to get feedback from these leaders as to what role India could play next year as the chair of the G-20 group of countries. During her meeting

In a 1st in 20 yrs, Japan space agency rocket carrying 8 satellites fails

The Japanese space agency said a rocket carrying eight satellites failed just after liftoff Wednesday and had to be aborted by a self-destruction command, in the country's first failed rocket launch in nearly 20 years. The Japan Aerospace Exploration Agency said its Epsilon-6 rocket experienced an unidentified abnormality and its flight had to be aborted less than seven minutes after takeoff from the Uchinoura Space Center in the southern Japanese prefecture of Kagoshima. JAXA officials said the agency sent a self-destruction signal after deciding that the rocket was not able to fly safely and enter a planned orbit. They said the rocket was believed to have fallen into the sea with the payloads. The cause of the failure was still being investigated, the agency said. The Epsilon rocket was carrying eight payloads, including two developed by a private company based in Fukuoka, another southern prefecture. It was the first time an Epsilon rocket carried commercially developed ...

Japanese automaker Nissan says it is pulling out of Russia amid war

Japanese automaker Nissan Motor Co. said on Tuesday that it plans to sell its Russian operations to its local partner and withdraw from manufacturing there. The company said its executive committee approved the sale to Russia's Central Research and Development Automobile and Engine Institute, or NAMI. The sale includes Nissan's factory and R&D facilities in St. Petersburg and its sales and marketing centre in Moscow, it said. The company will operate under a new name. Nissan did not give a dollar value for the sale but said it would log a 100 billion yen (USD 680 million) impact" from its exit from Russia. While we cannot continue operating in the market, we have found the best possible solution to support our people," Nissan President and CEO Makoto Uchida said in a statement. Nissan began making SUVs in St. Petersberg in 2009. It suspended manufacturing in Russia in March after the invasion of Ukraine. The company said the terms of the sale give Nissan the option to buy back it

Elon Musk's affordable internet service Starlink debuts in Japan

Elon Musk-run Starlink on Tuesday entered Japan, making it the first Asian country to get SpaceX's affordable satellite internet service

Toshiba India to supply rechargeable batteries for EVage's electric vans

The Indian unit of Japan's Toshiba will supply its SCiB rechargeable lithium-ion cells for 10,000 electric delivery vans made by Indian start-up EVage, the companies said on Tuesday.

World currency reserves shrink by $1 trn this yr in record drawdown

Reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg started to compile the data in 2003

Japan's Toyota finds wheel, airbag fixes for recalled bZ4X crossover EVs

Japan's top automaker Toyota said on Thursday that it has identified how to fix its 2023 model year bZ4X crossover electric vehicles after recalling 2,700 of them in June out of concern that wheel bolts might become loose, risking a crash. The fix will enable Toyota Motor Corp. to resume making and selling the EVs, a key model in the company's effort to strengthen its electric lineup. Toyota officials said they hoped the fix would help restore the company's reputation for quality. The maker of the Prius hybrid and Lexus luxury models has scored great success with its hybrids and fuel cells, but it has at times been seen as a straggler in electric vehicles. The bZ in the model's name stands for a beyond zero series, referring to it being free of emissions. Toyota said new bolt parts needed to fix the problem with the bZ4X will become available for all global customers by November. The company said hub bolts and wheels of all vehicles in the recall will be replaced at no cost to ...

Honda to cut car output by 40% at two Japanese plants in October

Honda Motor Co said on Thursday it would reduce car output by up to 40% at two Japanese plants for the rest of October from its earlier plans

North Korea missile flies over Japan; stopping trains, sparking panic

In response, US and South Korean warplanes practiced bombing a target in the Yellow Sea and Japan warned its citizens to take cover and suspended some train services

N Korea fires ballistic missile towards Pacific Ocean for weapon tests

North Korea on Tuesday fired a ballistic missile over Japan, its neighbors said, escalating tests of weapons designed to strike key targets in regional US allies amid stalled nuclear diplomacy. The Japanese prime minister's office said at least one missile fired from North Korea flew over Japan and was believed to have landed into the Pacific Ocean. It said authorities have issued an alert to residents in northeastern regions to evacuate buildings nearby in what was reportedly the first such alert in five years. Trains were temporarily suspended in Japan's Hokkaido and Aomori regions before their operations were resumed later after a government notice that the North Korean missile appeared to have landed into the Pacific. South Korea's Joint Chiefs of Staff said it also detected the launch of a ballistic missile that was fired toward the North's eastern waters. It gave no further details such as how far the weapon flew. The launch is the fifth round of weapons test by North Korean

Weak yen, higher costs weigh on Japan business sentiment: Survey

Business sentiment among large manufacturers worsened for the third straight quarter, a Bank of Japan survey showed on Monday, as the world's third largest economy grapples with rising costs, a weakening currency and slowing global demand. The headline measure for the tankan measuring sentiment among large manufacturers, was plus 8, down from plus 9 the previous quarter. The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive. Japan has been trying to fight deflation in recent years and has kept interest rates at near zero. Prices have been rising, but at a more modest pace than in other major economies, and the Bank of Japan has not followed the lead of other central banks in raising interest rates. That means the yen has weakened relative to the surging dollar. That makes exports of autos and electronics more competitive in overseas markets and raises the value of overseas earn

5.7 magnitude quake hits Kyushu region of Japan; no casualty yet

An earthquake of magnitude 5.7 jolted Japan's Kyushu island on Saturday, US Geological Survey said.The quake hit around 20:32:32 (local time) at a depth of 28.3km.According to the data by USGS, the epicentre was monitored at 31.322 degrees north latitude and 131.457 degrees east longitude.No casualties have been reported so far.Kyushu is the southwesternmost of Japan's main islands with a subtropical climate, mostly.The region is majorly known for its active volcanoes, beaches and natural hot springs.

Japan's Daikin to begin assembling ACs in Nigeria in renewed push

Japan's Daikin Industries Ltd will begin assembling air conditioners in Nigeria as it renews a push into Africa that had been delayed by the COVID-19 pandemic, a regional head said on Thursday.

Japan to pay up to $320 million to US company for memory chip production

Japan is providing a major US chipmaker a subsidy of up to 46.6 billion yen ($322 million) to support its plan to produce advanced memory chips at a Hiroshima factory, the Japanese trade minister said Friday. The announcement to subsidise Micron Technology comes on the heels of US Vice President Kamala Harris' visit in Japan as the two countries step up cooperation on expanding manufacturing and supply chains for critical materials. I hope the deal will contribute to further expansion of cooperation between Japan and the United States in the area of semiconductors, Japan's Economy and Trade Minister Yasutoshi Nishimura said. He said the government approved the deal Friday under a law related to economic security. During her trip to Asia this week, Harris met with Japanese officials and semiconductor company executives to seek greater cooperation in strengthening semiconductor development and production amid China's growing influence. Micron was among the companies that participate

Best of BS Opinion: Extension of PMGKAY, convergent growth, and more

Here is the best of Business Standard's opinion pieces for today

Japan's Parliament to convene extraordinary session next week: Report

Japan's Diet, the country's Parliament, will convene an extraordinary session next week, lawmakers have confirmed

PM Modi lauds Shinzo Abe's legacy in meeting with Japan Premier Kishida

Prime Minister Narendra Modi held a bilateral meeting with his Japanese counterpart Fumio Kishida on Tuesday and conveyed his deepest condolences on the demise of former Prime Minister Shinzo Abe.Prime Minister Modi, who landed in Japan on Tuesday morning to attend Abe's state funeral, noted the contributions of the late Japanese PM in strengthening the India-Japan partnership and conceptualizing the vision of a free, open and inclusive Indo-Pacific region."The two leaders had a productive exchange of views on further deepening bilateral relations. They also discussed a number of regional and global issues," the Ministry of External Affairs (MEA) said in a statement.Both leaders renewed their commitment towards further strengthening the India-Japan Special Strategic and Global Partnership, and working together in the region and other international groupings.PM Modi arrived in Japan today amid heightened security measures in the country as dozens of foreign dignitaries are slated to ...

Abe was 'phenomenal', believed in India-Japan friendship, recalls PM Modi

Shinzo Abe "was a great leader, a phenomenal individual and someone who believed in India-Japan friendship", Prime Minister Narendra Modi recalled on Tuesday as he offered tribute to the slain former Japanese premier at his state funeral in Tokyo. Representatives from over 100 countries, including more than 20 heads of state and governments, attended Abe's funeral. Modi, who arrived here early in the morning, joined several global leaders to pay floral tribute to Abe who reshaped Japan's foreign policy, including setting out a bold vision for a quantum leap in ties with India. "When I was in Tokyo earlier this year, little did I imagine I would be back for the solemn programme of former PM Abe's state funeral. He was a great leader, a phenomenal individual and someone who believed in India-Japan friendship. He shall live on in the hearts of millions!," Modi tweeted, sharing a photograph of him paying tribute to Abe. Earlier, the Ministry of External Affairs tweeted that the prime .