Japan posts biggest trade deficit in more than 8 years for May
Nikkei -- Jun 16
Japan ran its biggest single-month trade deficit in more than eight years in May as high commodity prices and declines in the yen swelled imports, clouding the country's economic outlook.
The growing trade deficit underscores the headwinds the world's third-largest economy faces from a slide in the yen and surging costs of fuel and raw materials, on which domestic manufacturers rely for production.
Imports soared 48.9% in the year to May, Ministry of Finance data showed on Thursday, above a median market forecast for a 43.6% gain in a Reuters poll.
That outpaced a 15.8% year-on-year rise in exports in the same month, resulting in a 2.385 trillion yen ($17.80 billion) trade deficit, the largest shortfall in a single month since January 2014.
May's deficit, which was the second largest in a single month on record, marked the 10th straight month of year-on-year shortfalls and was bigger than the 2.023 trillion yen gap expected in a Reuters poll.
By region, exports to China, Japan's largest trading partner, shrank 0.2% in the 12 months to May on weaker shipments of machinery and transport equipment to the country. ...continue reading
Nikkei hits highest since July 1990 on weak yen, US optimism
yahoo.com - May 29
Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen.
Japan to impose stricter AML measures for digital currencies in June 2023
coingeek.com - May 29
After years of handling it with leniency, Japanese lawmakers have confirmed plans to impose stricter Anti-Money Laundering (AML) rules for the digital currency industry.
Unrealized losses surged at Japan's regional banks in FY2022
NHK - May 29
Regional banks in Japan saw unrealized losses surge in fiscal 2022. A new survey says the figure climbed by more than 5 times in yen terms over the previous year as investments sank.
Tokyo consumer prices up 3.2 percent in May as food costs jump
NHK - May 26
Overall prices in the Japanese capital remain high as people continue to pay more for food and some services.
Japan data signals stronger recovery, aided by return of tourists
straitstimes.com - May 23
Japan’s slow post-pandemic recovery is showing signs of growing momentum, according to the latest gauges of strength in the service and factory sectors.
Honda electric motorcycles for sale to general public
NOJ - May 21
Honda announced that it will start selling electric motorcycles to the general public for the first time in Japan.
Big Japan firms offer largest wage hikes in 31 years
NHK - May 20
Employees at some of Japan's biggest firms can expect a sizable bump in their pay checks this year. They'll see an average increase of nearly 4 percent following annual wage negotiations. That's the largest jump in 31 years.
Sony Group zeroes in on games, chips with financial unit spinoff
Nikkei - May 19
Sony Group will spin off its financial unit to focus resources on entertainment and image sensor operations as the investment burden needed to compete with foreign rivals continues to rise.
China surpasses Japan as world's top auto exporter
Nikkei - May 19
China overtook Japan as the world's top auto exporter in the first quarter, spurred by rising demand for electric vehicles and increased deliveries to Russia.
Japan April trade deficit halves, imports fall for 1st time in 2 yrs
Kyodo - May 19
Japan's trade deficit nearly halved to a one-year low of 432.41 billion yen ($3 billion) in April, as imports dropped for the first time in 27 months on lower crude oil prices, while U.S.-bound auto shipments delivered record exports, the Finance Ministry said Thursday.
Why Japan is embracing crypto rapidly
Crypto Daily - May 18
Japan, which missed out on the Web2 revolution -- by failing to produce its own Meta, Google, Amazon, and Alibaba -- is now looking to regain its economic prowess by embracing the burgeoning crypto and Web3 industry.
Japan economy grows more than expected in Q1 after technical recession
straitstimes.com - May 17
Japan's economy expanded at a faster pace than expected in the first quarter as a further easing of pandemic regulations boosted consumption.
Nikkei 225 rises above 30,000
NHK - May 17
The benchmark index for the Tokyo Stock Exchange climbed above 30,000 for the first time in a year and 8 months. The gains reflect rising investor confidence amid robust earnings and improving forecasts at Japanese companies.
7 major Japanese power companies plan to raise electricity rates by up to 39.7 percent
NOJ / TV Asahi - May 17
Seven major electric power companies in Japan have announced plans to raise prices from next month, as the government has virtually accepted the increase in regulated rates for households.
Japanese millennial could soon be billionaire after his AI company's shares surge
Business Insider - May 17
A Japanese millennial who uses AI to help solve a problem in the rapidly aging society has hit it big.
Japan's Megabanks Predict Bumper Profit, Resist Buybacks
Bloomberg - May 17
Japan's biggest lenders are predicting their highest profits in years. Still, a cautious outlook is holding them back from returning surplus capital to shareholders.
