News On Japan

Japan posts record current account surplus for half of fiscal year

TOKYO, Nov 09 (NHK) - Japan has posted a record current account surplus for the first six months of the fiscal year. The figure came in at 12.7 trillion yen, or about 84 billion dollars, in the black amid cheaper energy imports and rate hikes abroad.

The amount is more than triple the number from a year ago and marks the highest the figure has been since 1985. That goes for either the first or second half of a fiscal year starting in April.

The current account is a measure of the country's trade and investment with the rest of the world.

Japan posted a trade deficit of 9.3 billion dollars, which shrank by 51.4 billion dollars compared to a year ago as prices declined for crude oil and other energy imports.

The primary income surplus that includes interest and dividends from overseas investments also hit a record high in yen terms, exceeding 120 billion dollars.

Rate hikes in other countries including the United States helped boost foreign bond interest payments.

Source: テレ東BIZ

News On Japan
POPULAR NEWS

Lime, the world’s largest electric scooter-sharing service, has announced a collaboration with a major insurance company to pursue a full-scale entry into the Japanese market.

A man was arrested in Higashi-Osaka for allegedly abducting three girls, one of whom has died, with around 80 empty medicine shells discovered in his home.

Prince Hisahito, the eldest son of Japan's Crown Prince and Crown Princess Akishino, turned 18 on September 6, officially becoming an adult member of the Imperial family.

The Ariake Urban Sports Park, which will open next month at the former Tokyo Olympic skateboarding site, was previewed Thursday ahead of its official opening on October 12.

The total cash earnings received by workers in Japan increased by 3.6% in July compared to last year, marking the second consecutive month of positive growth in real wages after adjusting for inflation.

MEDIA CHANNELS
         

MORE Business NEWS

The number of share buybacks this year in Japan is on the rise, and it's possible that we'll see a record number by the time winter rolls around.

Toyota Motor Corporation has resumed production of three car models, including the Yaris Cross, after a three-month suspension due to certification irregularities, the company announced on September 4.

The Fukuoka Prefectural Labor Bureau under the Ministry of Health, Labor and Welfare announced a 51-yen increase in the minimum wage for Fukuoka Prefecture, bringing the hourly wage to 992 yen, marking the largest increase to date.

The shortage of rice is causing prices to increase, and this is affecting packaged rice products, which are known for their long shelf life.

Sources say Japanese retail giant Seven & i Holdings has decided it cannot accept a takeover bid from a Canadian firm at this point, as the buyout price is too low to match its corporate value. (NHK)

The total cash earnings received by workers in Japan increased by 3.6% in July compared to last year, marking the second consecutive month of positive growth in real wages after adjusting for inflation.

Buying a home is often considered the biggest purchase of one’s life. A mortgage is essential, with the standard repayment period being 35 years. However, Keiyo Bank has caused a stir by becoming the first regional bank in the Tokyo metropolitan area to introduce a 50-year mortgage plan.

The increase in inbound tourists has led to growing financial burdens for Japan’s credit card industry. When cards issued overseas are used at domestic stores, Japanese companies must pay fees to foreign issuers, resulting in annual losses estimated to reach 30 billion yen.