Japan Inc's earnings outlook brightens under 'Abenomics'
Reuters -- Jan 25
The yen's steep decline has burnished the outlook for Japanese stocks, prompting analysts to raise profit forecasts for currency-sensitive exporters and foreign investors to plough $17 billion into the market, the biggest monthly inflow since 2010.
With 60 percent of Japan's listed companies focused on exports, firms ranging from camera maker Nikon Corp (7731.T) to air-conditioner group Daikin Industries Ltd (6367.T) are basking in the prospect of a one-off currency boost and the chance to price their goods more competitively.
The yen has fallen about 11 percent against the dollar to around 89 yen since mid-November, reflecting new Prime Minister Shinzo Abe's push for aggressive policy action to weaken the local currency and revitalize the economy. Investors will be looking for signs that the yen's decline is bolstering profits when the quarterly earnings season kicks into gear next week.
A former Bridgestone Corp. (5108) executive agreed to plead guilty to conspiring to fix prices for auto parts, a day after a grand jury indicted another executive and two former workers at the Japanese tire maker. (Bloomberg )
People enjoy viewing the 15-meter snow walls of the Yuki no Otani (Great Snow Valley), along the Tateyama Kurobe Alpine Route that passes through the Northern Japan Alps to link Toyama and Nagano prefectures. (The Japan News )
Tokyo prosecutors plan to look into whether a man, who has been arrested for allegedly vandalizing copies of Anne Frank's diary, is mentally competent to be held criminally responsible for his actions, informed sources said Wednesday. (Jiji Press )
Apparently perplexed but thrilled to find himself in the spotlight, Iwao Hakamada, formerly the world's longest-serving death-row inmate, made his first public appearance Monday in Tokyo since being released from prison and hospitalized. (Japan Times )
Aichi prefectural police are investigating a possible link between the discovery of the bodies of a husband and wife and their eldest son, and the body of a male relative of the deceased family who was found hanging by his neck in a hotel. (Japan Today )
The body of one of two missing workers who died on March 30 after a floating pier overturned while being unloaded from a barge during construction work on a remote rocky atoll, was found on Sunday, the coast guard said. (Japan Today )