EconomyBusiness
Intel Corp.'s Japanese arm has formed a research body with 14 domestic firms to automate "back-end chipmaking processes" such as packaging as Japan and the United States step up efforts to strengthen chip supply chains. Materials supplier Resonac Holdings Corp., one of the firms involved in the project, said Tuesday that the association was established on April 16, aiming to implement automation technologies by 2028. Omron Corp. and Murata Machinery Ltd., both based in Kyoto, will be among the firms overseeing research and development of automated conveyance and storage systems, while Yamaha M...
Kyodo News
The Bank of Japan will closely monitor the impact of the yen's recent decline on prices when guiding its monetary policy, Governor Kazuo Ueda said Tuesday after meeting with Prime Minister Fumio Kishida. Ueda stuck to his view that the weak yen has not significantly impacted trend inflation, which strips away one-off factors, after his earlier comments disappointed market participants anticipating measures from the central bank to counter the yen's weakness.
Kyodo News
Nintendo Co. will announce a successor to the hugely popular Switch game console by the end of March next year, its president said Tuesday. President Shuntaro Furukawa's remarks at a press conference came amid speculation that the Japanese gaming company has been working on new hardware in response to slowing sales of the console, which first came out in 2017.
Kyodo News
Nintendo Co. said Tuesday its net profit for the year ended March rose 13.4 percent from a year earlier to 490.6 billion yen ($3.2 billion), lifted by the success of the blockbuster film "The Super Mario Bros. Movie" and robust sales of new titles. Sales were up 4.4 percent to 1.67 trillion yen in fiscal 2023, the gaming company said. For the current fiscal year ending March next year, the firm projects net profit to fall 38.9 percent to 300 billion yen on sales of 1.35 trillion yen, down 19.3 percent.
Kyodo News
The release of the fifth batch of treated radioactive water from the crippled Fukushima Daiichi nuclear power plant into the sea concluded Tuesday, its operator said. In the latest discharge, the first of fiscal 2024 from April, Tokyo Electric Power Company Holdings Inc. released around 7,800 tons of processed water, with a total of about 54,600 tons planned for release over the year. Abnormal tritium levels have not been detected in nearby waters, TEPCO said. Prior to discharge, water used to cool melted fuel at the plant is passed through an advanced liquid processing system that removes mos...
Kyodo News
Tokyo stocks rebounded for the first time in three trading days on Tuesday, boosted by optimism about the U.S. economy amid hopes for sooner-than-expected interest rate cuts by the Federal Reserve and a weaker yen against the U.S. dollar. The 225-issue Nikkei Stock Average ended up 599.03 points, or 1.57 percent, from Thursday at 38,835.10. Japanese financial markets were closed Friday and Monday for national holidays. The broader Topix index finished 17.69 points, or 0.65 percent, higher at 2,746.22. On the top-tier Prime Market, securities house, machinery and service issues were among the g...
Kyodo News
The new Fantasy Springs theme area at Tokyo DisneySea, drawing on films including "Frozen," was revealed to the media on Tuesday before its official opening in June. The section, also based on "Peter Pan" and "Tangled," includes four rides within its approximately 140,000 square meters of land, according to operator Oriental Land Co. The addition -- comprising Frozen Kingdom, Rapunzel's Forest, and Peter Pan's Never Land -- is slated to open on June 6. Visitors will also be able to stay at the operator's sixth Disney hotel, Tokyo DisneySea Fantasy Springs Hotel, situated in the area. There are...
Kyodo News
Tokyo stocks rose on Tuesday morning after Wall Street gained overnight on hopes for sooner-than-expected interest rate cuts by the U.S. Federal Reserve and a weaker yen against the U.S. dollar lifted exporters. The 225-issue Nikkei Stock Average climbed 452.59 points, or 1.18 percent, from Thursday to 38,688.66. Japanese financial markets were closed Friday and Monday for national holidays. The broader Topix index was up 7.66 points, or 0.28 percent, at 2,736.19. The dollar strengthened to the mid-154 range on expectations that the differential between U.S. and Japanese interest rates will re...
Kyodo News
Japan will respond appropriately to excessive volatility in the foreign exchange market, its top currency diplomat said Tuesday in a fresh warning against "speculative" and "disorderly" yen moves after market talk of interventions last week. Masato Kanda, vice finance minister for international affairs, said foreign exchange rates should be stable, reflecting economic fundamentals, a view consistently expressed by Japanese authorities who are concerned about the negative impact of rapid fluctuations on households and businesses. Still, he remained silent on whether Japan stepped into the marke...
Kyodo News
Toyota Motor Corp.'s small-car unit, Daihatsu Motor Co., resumed operations at all of its assembly plants in Japan on Tuesday, more than four months after it halted domestic production due to safety test rigging. The automaker restarted production of Copen minivehicles at its main factory in Ikeda, Osaka Prefecture, earlier in the day, the last of its four assembly plants in Japan to resume output. Daihatsu has gradually restarted domestic production since February following a reexamination of its safety standards by the transport ministry, with a shipment ban covering all of its 27 models lif...
Kyodo News
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