News Column

Kyodo news summary -5-

June 13, 2014



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Bridgestone becomes official sponsor of Olympic Games through 2024

TOKYO - The world's largest tire maker Bridgestone Corp. concluded a deal with the International Olympic Committee on Friday, becoming one of the top sponsors of the Olympic Games through 2024 including the 2020 Tokyo Olympics.

The Japanese rubber company declined to elaborate on the conditions of the contract but its fee for joining the sponsorship program, known as TOP, is expected to amount to tens of billions of yen, according to sources familiar with the matter.

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Japan's key bond yield rises to 0.600%

TOKYO - The yield on the benchmark 10-year Japanese government bond finished higher Friday on selling due to rises in Tokyo stocks and a sense of caution over rising bond prices.

The yield on the No. 334, 0.6 percent issue, the main yardstick of long-term interest rates, ended interdealer trading at 0.600 percent, up 0.005 percentage point from Thursday's close.

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BOJ keeps policy steady, raises view on overseas economy

TOKYO - The Bank of Japan on Friday kept its policy steady, saying the country's economy is moderately recovering despite some headwinds caused by the consumption tax hike in April, while upgrading the central bank's assessment of overseas economies.

At a press conference following a two-day policy meeting, BOJ Governor Haruhiko Kuroda reiterated he is confident of achieving the central bank's goal of lifting the nation's inflation rate to 2 percent next year with its ultraloose monetary policy involving massive purchases of financial assets from banks, as well as doubling the money it directly provides to the economy.

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NRA commissioner nominee vows to secure independence

TOKYO - A Japanese nuclear regulatory commissioner-to-be vowed Friday to secure the nuclear watchdog's independence in reviewing reactor safety, brushing off criticism that he is too close to the nuclear industry.

"What is necessary for the Nuclear Regulation Authority is to proceed with work steadily with independence. I also recognize that," Satoru Tanaka, one of the government's nominees to replace two of the five commissioners, told reporters.

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Gov't asks police to collect DNA from potential abductees' relatives

TOKYO - The Japanese government has asked the National Police Agency again to complete its work to collect DNA samples from relatives of all potential victims of North Korean abduction, a state minister said Friday.

The move, announced at a press conference by Keiji Furuya, who is in charge of the issue, is aimed at preparing for the upcoming launch of North Korea's investigative unit on Japanese abduction victims.

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Myanmar democracy icon Suu Kyi visiting Nepal as state guest

KATHMANDU - Myanmar opposition leader Aung San Suu Kyi arrived in Nepal on Friday for a four-day visit at the invitation of the Nepalese government.

During the visit, the Nobel Peace Prize laureate is scheduled to meet President Ram Baran Yadava, Prime Minister Sushil Koirala and senior politicians.

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Passenger ferry crash injures 70 in Macao

HONG KONG - At least 70 passengers were injured after a Turbojet ferry hit a breakwater near Macao on Friday, according to authorities and media reports.

All but one of the injured -- 46 men and 24 women aged between 17 and 69 -- suffered minor injuries such as bruises and scratches and were released from hospital. A 68-year-old Hong Kong man is being treated for a broken neck.

A total of 60 of the injured are Hong Kong residents, while the remaining 10 include three from Macao, four South Koreans, two Thais and one Japanese, the Macao government said in an updated statement.

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Dollar rises in upper 101 yen on Tokyo stocks' rebound

TOKYO - The U.S. dollar rose in the upper 101 yen range Friday in Tokyo as a rebound in Tokyo stocks sapped demand for the perceived safety of the yen, while the Bank of Japan's decision to keep its monetary policy steady had little impact on the market.

At 5 p.m., the dollar fetched 101.82-83 yen compared with 101.66-76 yen in New York and 102.07-08 yen in Tokyo at 5 p.m. Thursday. It rose as high as 102.10 yen briefly after hitting the day's low of 101.66 yen, while changing hands most frequently at 101.80 yen.



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Source: Japan Economic Newswire


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