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The Nikkei stock index plunged over 3 percent Friday morning on selling spurred by concerns over escalating conflict in the Middle East. The 225-issue Nikkei Stock Average fell 1,260.89 points, or 3.31 percent, from Thursday to 36,818.81. The broader Topix index was down 74.38 points, or 2.78 percent, at 2,603.07.
Kyodo News
As the already two-year-old Russian invasion of Ukraine continues, Estonia's commander-in-chief has advocated a new strategy for the Eastern European country he says would bring victory. "The initiative I would highlight is what the Estonian government proposed a few months ago. We call it the Victory Strategy," Gen. Martin Herem said during a recent interview with Kyodo News. "The main idea is that if each Ramstein coalition country supports Ukraine with 0.25 percent of its GDP, then we would exceed the resources that Russia is using for the war. And that should give Ukraine enough power to l...
Kyodo News
Tokyo stocks extended losses Friday morning, with the benchmark Nikkei index losing more than 2 percent, as heavyweight semiconductor issues, in particular, drew selling on concerns about the negative economic impact of rising U.S. and Japanese yields.
Kyodo News
Tokyo stocks opened sharply lower Friday, weighed down by major semiconductor-related companies that declined in line with their U.S. counterparts overnight. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 546.00 points, or 1.43 percent, from Thursday to 37,533.70. The broader Topix index was down 23.23 points, or 0.87 percent, at 2,654.22. On the top-tier Prime Market, decliners were led by precision instrument, machinery and metal product shares. At 9 a.m., the U.S. dollar fetched 154.61-62 yen compared with 154.60-70 yen in New York and 154.27-28 yen in Tokyo at ...
Kyodo News
Core consumer prices in Japan rose 2.6 percent in March from a year earlier, with the key gauge of inflation now having remained at or above the Bank of Japan's 2 percent target for two straight years, government data showed Friday. The pace of increase in the nationwide core consumer price index, which excludes volatile fresh food, slowed from 2.8 percent in February, according to the Ministry of Internal Affairs and Communications. For the fiscal year that ended in March, core CPI increased 2.8 percent from a year earlier, against the BOJ's forecast that it would rise 2.8 percent. It followe...
Kyodo News
Bank of Japan Governor Kazuo Ueda on Thursday suggested a possible need to raise interest rates again if the yen's depreciation continues and leads to notable price increases. "If the scale of impact that cannot be ignored arises, there could be a change in monetary policy," Ueda told a press conference in Washington after a Group of 20 finance leaders meeting, noting that the weak yen could raise trend inflation through increases in prices of imported goods. He said the Japanese central bank will show how the yen's decline against the U.S. dollar and other currencies since January has affecte...
Kyodo News
A group of doctors and dentists in Japan on Thursday filed a lawsuit seeking a total of about 1.4 million yen ($9,000) in damages from Google LLC for keeping what they say are unfair reviews posted on its navigation app. The plaintiffs, made up of 63 professionals in the health care industry nationwide, filed the suit with the Tokyo District Court, claiming groundless negative reviews left on Google Maps caused enormous disadvantages to their businesses. It is the first such action against a technology giant providing platform services, according to their defense counsel. On Google Maps, users...
Kyodo News
The average unit price of a new condominium in Tokyo and its surrounding areas rose 9.5 percent in fiscal 2023 from the previous year to 75.66 million yen ($490,000), hitting a record for the third consecutive year, a research institute said Thursday. Sales of ultrahigh-value properties in central Tokyo and soaring materials and construction costs helped boost the average price, along with intensified competition with commercial complexes and hotels to build in convenient locations, such as near major railway stations. In Tokyo's 23 central wards, the average price surpassed 100 million yen fo...
Kyodo News
The Tokyo District Court ruled Thursday that the former operator of a now-defunct website allowing users access to pirated manga must pay a total of around 1.7 billion yen ($11 million) in damages to three major Japanese publishers. The compensation over the website Manga-Mura is the largest ever levied in similar lawsuits, according to the plaintiffs -- Shogakukan Inc., Kadokawa Corp. and Shueisha Inc. The former operator, Romi Hoshino, 32, told reporters he is "unconvinced" by the ruling, and that he has "no regrets regarding Manga-Mura." Hoshino was convicted in 2021 of copyright infringeme...
Kyodo News
A Japanese court on Thursday rejected a demand by a group of Ainu indigenous people in northern Japan to be recognized as exempt from a ban on commercial salmon fishing in a river, arguing they had inherited this right from their ancestors. The Sapporo District Court handed down the ruling involving the Raporo Ainu Nation, which includes descendants of Ainu communities who began residing around the river in Urahoro, Hokkaido, centuries ago. This lawsuit marked the first instance where the Ainu people sought recognition of their indigenous rights from both the central and Hokkaido governments. ...
Kyodo News
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