World markets taken by surprise as Bank of Japan shifts bond yields
TOKYO, Dec 21 (Economic Times) - Markets were taken aback as the Bank of Japan (BOJ) modified its yield curve control (YCC) strategy. The bank permitted the yield on the 10-year Japanese government bond to swing 50 basis points either side of its 0% objective.
The BOJ stated that the action is meant to “improve market functioning and encourage a smoother formation of the entire yield curve while maintaining accommodative financial conditions.” After an extended period of economic stagnation and extremely low inflation, the central bank implemented its yield curve management mechanism in September 2016 with the goal of lifting inflation toward its 2% target.
On Tuesday, the BOJ while maintaining its ultra-loose monetary policy stance, also kept its benchmark interest rate at -0.1%. The bank promised to dramatically speed up the pace at which it buys 10-year government bonds. In contrast, other central banks around the world are still raising rates and forcefully tightening monetary policy in an effort to control sky-high inflation. ...continue reading
Nissan to go all electric in UK
News On Japan - Nov 25
Nissan Motor Corporation has announced plans to transition all its vehicles produced in the United Kingdom to electric vehicles (EVs).
Japan's wealthy taxpayers' undeclared income hits record high
News On Japan - Nov 24
The amount of undeclared income by wealthy people in Japan has reached a record high of 98 billion yen, among the worst offenders being scrap gold wholesalers, breeders and yakiniku restaurants, the National Tax Agency announced on Friday.
Japan inflation picks up for first time in 4 months
NHK - Nov 24
Japan's latest inflation figures show prices rose on a broad front in October. The month marked the first time in four months for inflation to accelerate.
Japan's tallest building opens in Tokyo
NHK - Nov 24
Tokyo has a new landmark, a 330-meter-high skyscraper that opened on Friday. The Mori JP tower has 64 floors for shops, offices and residences. It's the tallest building in Japan, a title that previously belonged to the Abeno Harukas commercial and business tower in Osaka, western Japan.
Japanese stocks draw massive foreign inflows for third week
Reuters - Nov 24
Japanese stocks witnessed massive foreign inflows in the week ended Nov. 17, underpinned by strong corporate earnings and as investors tempered some of their initial enthusiasm about the prospect of a series of U.S. interest rate cuts.
Why Japan is home to the world’s oldest businesses
theceomagazine.com - Nov 24
Shitennō-ji temple is one of Osaka’s most important Buddhist temples. Built in the sixth century during the rule of Prince Shotoku, it has stood firm as the high-rises of the modern-day city have towered above it.
High demand weight-loss drug 'Wegovy' now covered by Japan's health insurance
News On Japan - Nov 23
Danish pharmaceutical giant Novo Nordisk's anti-obesity drug "Wegovy" is now covered by Japan's public health insurance scheme. Doctor's, however, are concerned about the long-term effects of this highly addictive weight-loss treatment, and whether worldwide supply shortages will stop it getting into the hands of people who need it most.
Akio Toyoda steps down from leading Japan's automobile manufacturers association
carscoops.com - Nov 23
Toyota's Chairman and Master Driver Akio Toyota retires from his position as the chairman of the Japan Automobile Manufacturers Association (JAMA) which represents 5.5 million employees from 14 automakers. Toyoda is the only official who led Japan's automotive industry for three two-year terms, being appointed in 2012, 2018, and 2022.
Tough times for Japan’s chemical makers
acs.org - Nov 23
Japan’s three biggest chemical companies are seeing their earnings suffer from a slump in basic chemicals. All three experienced a sharp drop in profits in the first half of fiscal 2023, which ended Sept. 30, and one of them, Sumitomo Chemical, is forecasting a loss of $655 million for the full fiscal year.
Digital Transformation in Payroll Processing: The Journey of Japanese Companies
newsonjapan.com - Nov 23
As the world leans into digital convenience, Japanese companies are not left behind in the digital transformation of payroll processing.
Japan's Resonac to open chip packaging R&D centre in US
Reuters - Nov 22
Japanese chip materials maker Resonac (4004.T) said on Wednesday it will set up a research and development centre for advanced semiconductor packaging and materials in Silicon Valley.
Toshiba shareholders draw curtains on 74 years of stock market history
News On Japan - Nov 22
Toshiba, aiming for corporate restructuring, held an extraordinary general meeting of shareholders on Wednesday, the final step towards delisting from the stock exchange.
Manga artists, taxi drivers hit as Japan tax frustrations mount
Business Mirror - Nov 22
From manga artists to independent taxi drivers, Japanese freelancers and small businesses frustrated with the potential loss of a tax break are among the growing numbers pushing down Prime Minister Fumio Kishida’s approval rating to record lows.
In Japan, people are renting "handsome weeping boys" to wipe away tears
ndtv.com - Nov 22
Tokyo offices are experiencing an unconventional approach to ease workplace stress. At a cost of 7,900 yen, roughly ₹ 4,400, people in Japan can access the services of Ikemeso Danshi, providing attractive companions referred to as "Handsome Weeping Boys."
Winter bonuses in Japan set to rise for third year in row
News On Japan - Nov 21
Private companies are expected to exceed last year's winter bonuses for the third consecutive year, according to four private research firms, with an average payout per person rising between 2.1% to 2.5%.
Azabudai Hills Complex with Japan's tallest building opens to media
News On Japan - Nov 20
The Azabudai Hills complex in Tokyo's Minato Ward, which includes Japan's tallest building, was unveiled to the media on Monday ahead of its opening on Nov 24.
