Tokyo stocks fell on October 2, with the Nikkei 225 closing at 68,309, down 647 points, as investors took profits after the previous day’s sharp rally and turned cautious ahead of U.S. employment data, rising global bond yields and renewed concern over energy prices.
Pan Pacific International Holdings (PPIH), the operator of discount retail chain Don Quijote, has announced plans to acquire the Japanese operations of Toys R Us, the American-founded toy retail giant, taking over approximately 150 stores nationwide while maintaining employment for existing workers.
Japan's unemployment rate rose to 2.5% in August, up 0.1 percentage point from July, marking the first deterioration in five months, according to data released by the Ministry of Internal Affairs and Communications.
Tokyo stocks surged on October 1, with the Nikkei 225 closing at 68,957, up 2,203 points, as investors rushed back into artificial intelligence and semiconductor-related shares after Micron Technology’s strong earnings outlook reinforced confidence in global chip demand.
TOKYO - Tokyo stocks fell on September 29, with the Nikkei 225 closing at 65,481, down 396 points, as the September-end ex-dividend adjustment, U.S. stock weakness, higher bond yields and oil-related inflation concerns weighed on investor sentiment.
Osaka Prefecture's minimum wage will rise to 1,231 yen per hour in October, providing welcome relief to part-time workers struggling with higher living costs while placing growing financial pressure on businesses, some of which are responding by reducing employee hours and introducing robots that can perform certain tasks for the equivalent of just 94 yen an hour.
The average annual salary for employees at private-sector companies in Japan rose 1.9% to a record 4.87 million yen last year, marking the fifth consecutive annual increase, according to the National Tax Agency.
Toyota Motor's global vehicle sales fell 6.4% from a year earlier to 790,743 units in August, marking the second consecutive month of year-on-year declines as high gasoline prices linked to the Middle East crisis continued to weigh on demand for gasoline-powered vehicles in China.