Japan Tankan sentiment worsens as slowdown hurts exports
News On Japan via BusinessWeek -- Oct 01
Big Japanese manufacturers became more pessimistic as slowdowns in China and Europe sapped export demand and pushed the nation closer to an economic contraction.
The quarterly Tankan index for large manufacturers fell in September to minus 3 from minus 1, the fourth negative reading, the Bank of Japan said today in Tokyo. The median estimate of 18 economists surveyed by Bloomberg News was for minus 4. A negative figure means pessimists outnumber optimists.
Today's report follows data last week showing a second monthly decline in industrial production in August, and JPMorgan Securities and Credit Suisse Group AG said that Japan's economy probably shrank in the third quarter. With consumer prices still falling, the BOJ may be forced to add stimulus again this month as it remains distant from its 1 percent inflation target.
"Japan's economy will probably have two consecutive quarters of contraction in the July-September and October- December periods," said Kiichi Murashima, chief economist at Citigroup Global Markets Japan Inc. "Exports are the main reason for the economic contraction."
Shipments have fallen for three months, slipping 22.9 percent in August to the European Union and 9.9 percent to China. "Economic conditions in Japan's main export markets are very unstable," Finance Minister Jun Azumi said on Sept. 28.
China's television regulator has ordered a crackdown on dramas about the country's battles with Japan during and before World War Two and demanded they be more serious, state media said on Friday, following viewer complaints about ludicrous storylines. (Reuters )
Shukan Post (May 24) conveys the difficulties experienced by other parts of the adult-entertainment biz in servicing customers from the communist nation.
A deri heru (“delivery health”) call-girl tells the tabloid that she is often requested to arrive at major hotels in the Shinjuku and Ikebukuro entertainment areas of Tokyo by Chinese visitors. (Tokyo Reporter)