News Column

Kyodo news summary -4-

July 7, 2014

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Tokyo stocks fall in morning on losses on Wall St., higher yen

TOKYO - Tokyo stocks fell Tuesday morning as overnight losses on Wall Street and the dollar's drop to the upper 101 yen zone hurt investor sentiment.

The 225-issue Nikkei Stock Average shed 70.98 points, or 0.46 percent, from Monday to 15,308.46. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 5.61 points, or 0.44 percent, to 1,274.26.

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Japan logs 4th straight monthly current account surplus in May

TOKYO - Japan's current account balance was in the black for the fourth straight month in May, standing at 522.8 billion yen, as imports slid for the first time in 19 months with the consumption tax hike on April 1 cooling domestic demand, the government said Tuesday.

But the surplus in the balance -- one of the widest gauges of international trade for a country -- fell 7.7 percent from a year earlier as the slowing pace of the yen's depreciation dampened growth in the income surplus, the Finance Ministry said in a preliminary report.

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Japan's key bond yield falls to 0.555% in morning

TOKYO - The yield on the bellwether 10-year Japanese government bond fell slightly Tuesday morning on buying in the wake of rises in U.S. government bond prices and falls in Tokyo shares.

The yield on the No. 334, 0.6 percent issue, the main yardstick of long-term interest rates, ended morning interdealer trading at 0.555 percent, down 0.005 percentage point from Monday's close.

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Progress made on labor rights issues at Ottawa TPP meeting

OTTAWA - Officials from the 12 countries involved in Pacific free trade talks have made significant progress on the issue of establishing rules for labor rights protection at their ongoing meeting in the Canadian capital of Ottawa, a Japanese government official said Monday.

Under the Trans-Pacific Partnership initiative, the 12 countries are planning to introduce rules for restricting imports of goods made by forced labor or child labor, which could contribute to creating better labor conditions especially in emerging economies and facilitating investment, according to the official.

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Dollar wavers in upper 101 yen in caution after U.S. bond yield fall

TOKYO - The U.S. dollar traded narrowly within the upper 101 yen zone in Tokyo on Tuesday morning in the wake of an overnight drop on reduced U.S. Treasury bond yields, with trading blunted by a cautious mood ahead of hints at the U.S. Federal Reserve's outlook.

At noon, the dollar fetched 101.78-79 yen compared with 101.83-93 yen in New York and 102.04-06 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.3604-3604 and 138.45-48 yen against $1.3600-3610 and 138.55-65 yen in New York and $1.3585-3586 and 138.63-67 yen in Tokyo late Monday afternoon.

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American studio talks making Doraemon for a Western audience

BURBANK, California - It took brainstorming and compromise, mixed with a lot of trust, love and respect, but after two years of effort, Eric Sherman and his employees at Bang Zoom! Entertainment have finally brought Japan's beloved blue robotic cat Doraemon to U.S. television screens.

With a 20-minute pilot and 26 episodes lined up, America was treated to its first taste of the show Monday afternoon when the U.S. version debuted on cable channel Disney XD. It will be broadcast in the channel's 12:30 p.m. time slot every weekday throughout the summer.

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Refurbished shopping mall opens at Narita airport

CHIBA, Japan - A refurbished shopping mall officially opened Tuesday at Terminal 1 of Narita airport east of Tokyo, featuring various outlets including those selling local Japanese products.

The shopping area was expanded by 800 square meters to 5,900 sq. meters after a fountain was removed and now houses more than 70 stores, ranging from shops selling shoes, hats and sundries to a cafe featuring cakes produced by a renowned Japanese chef of Italian cuisine, the airport operator said.

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Japan to protest China paper showing Japan map with mushroom cloud

TOKYO - Japan plans to lodge a protest with a Chinese weekly paper that carried a map of Japan with an illustration of a mushroom cloud over both Hiroshima and Nagasaki, Foreign Minister Fumio Kishida said Tuesday.

Kishida told a press conference it was "imprudent" for the July 3 edition of the Chongqing Youth News to carry such illustrations, and that such a report would hurt the feelings of atomic bomb victims.

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Sony to solicit early retirement from August

TOKYO - Sony Corp. will solicit applicants for early retirement from its corporate planning and finance sections at its Tokyo headquarters starting in August as part of its efforts to restructure its businesses and cut costs, sources close to the matter said Tuesday.

The program is part of a reform plan unveiled in February that sets forth plans to slash 1,500 domestic jobs, including those at group companies, by the end of the current business year through next March.

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Powerful typhoon approaches Okinawa'sMiyako Island amid storm surge warning

TOKYO - A powerful typhoon approached Okinawa'sMiyako Island on Tuesday, with the Japan Meteorological Agency issuing an emergency storm surge warning for the island and adjacent islets in the southwestern prefecture and urging residents to be on maximum alert.

The weather agency has kept the highest-level storm and high-wave warnings already in place against Typhoon Neoguri for Miyako and the main island of Okinawa.



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Source: Japan Economic Newswire


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