News Column

Kyodo news summary -3-

June 3, 2014



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Aso to OK corporate tax cuts if financial resources can be secured

TOKYO - Finance Minister Taro Aso said Tuesday he will accept Prime Minister Shinzo Abe's proposal to cut Japan's relatively heavy corporate income tax rate from next fiscal year if financial resources can be secured to cover a possible decrease in tax revenues.

It was the first time that Aso expressed acceptance of implementing corporate tax cuts, although he had argued the tax change would hamper the government's attempt to restore Japan's fiscal health -- the worst among major developed economies.

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Japan sets numerical goals to boost disaster preparedness

TOKYO - The government on Tuesday decided on a set of goals to boost Japan's preparedness against major earthquakes and other disasters, including increasing the number of quake-resistant homes and firefighting units tasked with providing emergency relief.

In endorsing a basic plan to improve disaster preparedness through infrastructure building and other projects, Prime Minister Shinzo Abe ordered ministers concerned to "powerfully promote related measures both in terms of hardware and software."

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Japan's key bond yield rises to 0.585%

TOKYO - The yield on the benchmark 10-year Japanese government bond rose Tuesday morning on steady performance of Tokyo stocks.

The yield on the No. 333, 0.6 percent issue, the main barometer of long-term interest rates, ended morning interdealer trading at 0.585 percent, up 0.005 percentage point from Monday's close.

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Nikkei recovers to 15,000 in morning on higher U.S. shares

TOKYO - Tokyo stocks rose Tuesday, with the Nikkei recovering to the 15,000 level for the first time in about two months on a solid performance on Wall Street and a weaker yen.

The 225-issue Nikkei Stock Average gained 113.91 points, or 0.76 percent, from Monday to 15,049.83. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 8.52 points, or 0.70 percent, to 1,228.99.

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BOJ's key policy architect reappointed to executive post

TOKYO - The Bank of Japan said Tuesday its executive director in charge of overseeing policy was reappointed for a second four-year term.

Masayoshi Amamiya, widely seen as a key architect behind Governor Haruhiko Kuroda's introduction in April 2013 of "quantitative and qualitative monetary easing" to revive the economy with a 2 percent inflation goal, was reappointed by Finance Minister Taro Aso.

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Dollar steadies in lower 102 yen in morning as U.S. optimism reigns

TOKYO - The U.S. dollar held steady in the lower 102 yen zone in Tokyo on Tuesday morning amid a lack of market-moving events during Asian trading, inheriting a sense of optimism on the U.S. economic outlook.

At noon, the dollar fetched 102.37-38 yen compared with 102.33-43 yen in New York and 101.98-102.00 yen in Tokyo at 5 p.m. Monday.

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Asia think tanks aim to make mark in easing regional tensions

TOKYO - At a time when governments and policymakers in the Asian region are struggling to find common ground on contentious issues such as territorial disputes, think tanks are trying to tap into their unique roles to bridge the gaps.

Ruan Zongze, vice president of the China Institute of International Studies, said at a recent forum in Tokyo that territorial and maritime disputes in the region have intensified in the past two to three years and that the "challenge for us is how to manage those disputes."

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Japan's real wage down 3.1% in April, largest fall since Dec. 2009

TOKYO - The average real, or inflation-adjusted, wages in April for employees in Japan decreased 3.1 percent from a year earlier, marking the largest year-on-year fall in more than four years, the labor ministry reported Tuesday.

The pace of decline was the fastest since December 2009, when the wages decelerated 4.3 percent from year-before levels.

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Suicides down for 4th straight year in 2013 in Japan: gov't

TOKYO - The number of suicides in Japan declined for the fourth straight year in 2013 to 27,283, the government said in its white paper on suicide prevention measures released Tuesday.

The figure marked a decrease of 575 from 2012, when it went below 30,000 for the first time in 15 years, according to the report, based on data confirmed by the National Police Agency.



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Source: Japan Economic Newswire


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