Economy of Japan | GlobalPost

Analysis: Kuroda to ride out market storm without more stimulus

Thomson ReutersJune 19, 2013 12:07

By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda has no intention of blinking first in the face off with Japan's markets over policy even as central bank officials grow increasingly worried about price volatility. A selloff in Japanese stocks, a sharp rise in bond yields and a pullback in the dollar against the yen have raised doubts about the effectiveness of the BOJ's big-bang stimulus program announced on April 4 and whether it will need to take further action to revive the moribund economy.

Softbank closer to acquiring Sprint after Dish abandons bid for now

Thomson ReutersJune 18, 2013 19:32

By Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week.

Japan's exports pick up pace, give economy momentum

Thomson ReutersJune 18, 2013 22:02

By Kaori Kaneko and Stanley White TOKYO (Reuters) - Japan's exports rose in May at the fastest annual rate in more than two years with the help of a weak yen and a moderate pick-up in global demand, boding well for the government's efforts to steer the economy through market turbulence.

Nikkei climbs to one-week high on SoftBank, investment trust

Thomson ReutersJune 18, 2013 23:00

By Dominic Lau TOKYO (Reuters) - Japan's Nikkei average hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment trust as a driving factor, while SoftBank Corp rose as it looked likely to win the battle for Sprint Nextel. The Nikkei <.N225> ended 1.8 percent higher at 13,245.22 points, its highest since June 12 and closing above the bottom of the Ichimoku cloud in a bullish sign.

Tokyo stocks rise 1.25% by break

Agence France-PresseJune 19, 2013 01:30

Tokyo stocks ended the morning session 1.25 percent higher on Wednesday, following gains on Wall Street and as official data showed Japan's exports soared in May thanks to a weaker yen. The benchmark Nikkei 225 index jumped 162.69 points to 13,169.97, while the Topix index of all first-section shares rose 1.15 percent, or 12.48 points, to 1,098.88. A weaker yen and the rise in US shares would help support the Tokyo market, said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, tipping exporters to lead the session.

Japan May trade deficit widens on import costs

Agence France-PresseJune 19, 2013 01:30

Japan extended a string of trade deficits in May, official data showed Wednesday, as the country's import costs rose on the weak yen but shipments to the United States and China soared. The strong export data -- up 10.1 percent over last year -- comes after earlier figures showed the world's third-largest economy grew faster than expected in the first quarter, as Prime Minister Shinzo Abe works to stoke growth. The yen's sharp drop since late last year makes Japanese exporters more competitive overseas and inflates the value of their repatriated overseas earnings.

Japan's trade balance in May shows 3rd-largest deficit ever

Kyodo News InternationalJune 18, 2013 23:30

Japan's trade balance in May showed the third-largest deficit ever for any month, with the red-ink streak extending to the longest 11th month as the depreciation of the yen continued to push up import prices despite a sharp gain in exports, the government said Wednesday. The 993.9 billion yen deficit in the goods trade balance was the biggest for the month of May since comparable data became available in fiscal 1979, the Finance Ministry said in a preliminary report.

Tokyo stocks up more than 2% in opening trade

Agence France-PresseJune 18, 2013 22:30

Tokyo stocks climbed more than two percent in opening trade on Wednesday, following gains on Wall Street and as official data showed Japan's exports soared in May on a weaker yen. The benchmark Nikkei 225 index jumped 289.34 points, or 2.22 percent, to 13,296.62 in early trade. A weaker yen and the rise in US shares would help support the Tokyo market, said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, tipping exporters to lead the session.

Japan's trade deficit climbs to $10.5B in May as import costs keep pace with rising exports

The Canadian PressJune 18, 2013 21:31

TOKYO - Japan's trade deficit rose nearly 10 per cent in May to 993.9 billion yen (nearly $10.5 billion) as rising costs for imports due to the cheaper yen matched a rebound in exports, the Ministry of Finance reported Wednesday. Exports rose 10.1 per cent in May over a year earlier to 5.77 trillion yen ($60.7 billion) while imports also surged 10 per cent, to 6.76 trillion yen ($71.1 billion), the ministry said. Japan's trade deficit in May 2012 was 907.93 billion yen.

Toshiba to cut TV business costs by $104 million this fiscal year: Nikkei

Thomson ReutersJune 18, 2013 15:35

(Reuters) - Japan's Toshiba Corp plans to cut about 10 billion yen ($104 million) in costs this fiscal year by reorganizing its network of television factories in Indonesia, China and Poland, the Nikkei said, citing company sources. Toshiba wants to make its TV operations profitable this year by overhauling its global production network and raising prices after the business lost almost 50 billion yen on a consolidated basis last business year, the Japanese daily said.