Business Topics

Jun 19, 2014

BOJ exec shrugs off tax increase slowdown fears

A Bank of Japan policymaker Thursday shrugged off the possibility that the consumption tax hike on April 1 could significantly slow the economy, echoing the central bank’s bright projections. “Although being affected by strong demand before and a decline following (the April 1 tax ...

Trade deficit shrinks as energy imports fall

Jun 18, 2014

Trade deficit shrinks as energy imports fall

The trade deficit narrowed in May as imports declined for the first time in a year and a half, data showed Wednesday, but weaker shipments abroad helped keep the trade balance in the red. The figures — which suggest the economy is slowing — ...

Jun 18, 2014

BOJ now nation's biggest creditor

The Bank of Japan has become the single biggest holder of domestic government bonds for the first time, data showed Wednesday, underscoring the scale of its monetary easing program. The central bank has been aggressively buying Japanese government bonds since unveiling a stimulus plan ...

Jun 17, 2014

Ministry pledges subsidies to aid local bridge, tunnel repairs

The infrastructure ministry plans to create a new subsidy system in fiscal 2015 for large-scale repairs to bridges and tunnels by municipal and prefectural governments. The ministry, which is considering subsidizing half of the costs for such repairs, wants to include the money in ...

G-77 calls for new economic order

Jun 15, 2014

G-77 calls for new economic order

U.N. Secretary-General Ban Ki-moon on Saturday opened a Group of 77 plus China summit in Bolivia, with developing countries calling for a more fair new world economic order. Ban spoke to a vast audience that included some 30 heads of government and representatives of ...

Jun 14, 2014

Noda says Abe buying into 'voodoo economics'

by William Pesek

Sour grapes are in season in Tokyo as Prime Minister Shinzo Abe’s predecessor steps up and slams the incumbent’s tax plans. However, beneath the bad feelings and twinge of regret, Yoshihiko Noda makes a very timely point when he accuses Abe of buying into ...

Abe to cut business tax but mum on how

Jun 13, 2014

Abe to cut business tax but mum on how

Prime Minister Shinzo Abe pledged Friday to reduce the 35 percent corporate tax rate to under 30 percent in the next few years in an attempt to boost foreign investment and bolster the economy. Abe also said that his administration will secure other financial ...

Jun 12, 2014

Machinery orders drop 9.1% in April after sales tax hike

Core private-sector machinery orders plunged a seasonally adjusted 9.1 percent in April compared with the previous month, with the first consumption tax hike in 17 years blurring the economic outlook, the government said Thursday. Core orders, excluding those for ships and from utilities because ...

Jun 11, 2014

Households free to choose power supplier

The Diet on Wednesday enacted legislation to end the grip regional monopolies have held for 60 years on the household electricity market by opening it up to greater competition. The move is expected to revolutionize the ¥7.5 trillion market for households and other small ...

Stand firm on 10% sales tax, Noda warns Abe

Jun 11, 2014

Stand firm on 10% sales tax, Noda warns Abe

Prime Minister Shinzo Abe risks triggering market turmoil should he fail to raise the consumption tax to 10 percent next year, his immediate predecessor warned. The government needs to ride out the economic fallout from the first tax increase in April and then lift ...

Jun 10, 2014

Land prices reflecting real demand, not speculation

A recent increase in land prices reflects growing demand from buyers seeking yield and location, unlike during the bubble economy period in the late 1980s and early 1990s, when it was speculators who drove prices higher, the government said Tuesday. In its 2014 white ...