News Column

Kyodo news summary -6-

May 20, 2014



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Asset management firm loses 10.6 bil. yen of pension fund money

TOKYO - A Tokyo-based asset management company has been found to have lost a total of 10.6 billion yen invested by 14 employee pension funds in Japan, welfare ministry officials said Tuesday.

The Ministry of Health, Labor and Welfare surveyed the 14 pension funds which invested in two funds managed by Plaza Asset Management Co. and found that the value of their investments had gone down to zero, according to the officials.

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Japan's key bond yield ends flat at 0.585%

TOKYO - The yield on the benchmark 10-year Japanese government bond ended flat Tuesday as early bond selling prompted by Tokyo stocks' rebound was offset by late bargain-hunting.

The yield on the No. 333, 0.6 percent issue, the main yardstick of long-term interest rates, ended interdealer trading at 0.585 percent, unchanged from Monday's close.

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Taiwan's president defends policy on 4th nuclear power plant

TAICHUNG, Taiwan - Taiwan President Ma Ying-jeou on Tuesday defended his decision to defer construction of the problem-plagued No. 4 nuclear power plant, saying it is not a bad thing to let the public spend time thinking and discussing the hot button issue and nuclear policy.

His administration said last month that construction of the No. 4 nuclear power plant located at the densely populated north of the island will be suspended, with the decision as to whether the facility will be completed and go into operation left in a public referendum.

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Toyota develops highly efficient semiconductor for hybrid vehicles

TOKYO - Toyota Motor Corp. said Tuesday it has developed a new silicon carbide power semiconductor that has achieved better fuel efficiency for hybrid vehicles.

With the new semiconductor that Toyota developed jointly with Denso Corp. and Toyota Central R&D Labs. Inc., it has improved fuel efficiency by over 5 percent in test driving compared with vehicles which use silicon-only power semiconductors, the automaker said.

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India's BJP elects Modi as parliamentary leader

NEW DELHI - Narendra Modi was unanimously elected Tuesday as parliamentary leader of the Bharatiya Janata Party, heading all the members of parliament belonging to the BJP and taking one more step toward being named India's new prime minister.

Modi was elected at a BJP meeting in the central hall of India's parliament, the venue where India's Constitution was drafted and implemented in 1950.

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Fukushima Daiichi water treatment system again fully suspended

FUKUSHIMA, Japan - The radioactive water treatment system at the disaster-struck Fukushima Daiichi nuclear power plant was fully suspended Tuesday, following a series of problems involving the system's three treatment lines.

The operation was suspended after plant operator Tokyo Electric Power Co. found water passing through one of the lines, the only one operating at the time, was getting cloudy.

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Chinese, Russian leaders agree to thwart efforts to rewrite WWII history

SHANGHAI - The presidents of China and Russia agreed Tuesday their countries will together celebrate the 70th anniversary next year of World War II's end and thwart any attempt to "falsify history."

Chinese President Xi Jinping and Russian President Vladimir Putin held talks in Shanghai as the countries, faced with Western criticism over their aggressive handling of sovereignty issues, seek to expand cooperation.



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Source: Japan Economic Newswire


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