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JAPAN
Oct 27, 1998

Asahi Breweries assessed 700 million yen tax penalty

The Tokyo Taxation Bureau imposed about 700 million yen in penalties and back taxes last year on Asahi Breweries Ltd. for its failure to declare 1.69 billion yen in income transferred to an overseas finance subsidiary over five years through 1995, industry sources said Tuesday.But the Tokyo-based major...
JAPAN
Oct 27, 1998

Hino Motors posts 21 billion yen first-half loss

Leading truck maker Hino Motors Ltd. plunged into red ink in the first half of the current fiscal year, with sales decreasing mainly due to the Asian economic crisis and the prolonged recession in Japan, the company said on Tuesday.Unconsolidated net losses for the April-September period were reported...
JAPAN
Oct 27, 1998

Tokyo security forum to discuss Asia-Pacific crisis

Defense policymakers from 20 countries in the Asia-Pacific region gathered Tuesday in Tokyo to kick off a three-day international forum on regional security.Participants in the Forum for Defense Authorities in the Asia Pacific Region include senior defense officials from China, India, South Korea, Russia,...
JAPAN
Oct 27, 1998

Seafood exec held over tainted salmon roe sales

SAPPORO -- The former president of a fish processing firm in Hokkaido was arrested Tuesday on suspicion of having knowingly sold salmon roe tainted with E. coli bacteria, which sickened dozens of people nationwide, police officials said.The arrest reportedly marks the first time a food company manager...
JAPAN
Oct 27, 1998

Ratio of job offers to seekers hits new low

The number of job offers to job seekers hit a postwar low in September, dropping to 0.49 from 0.50 in August, the Labor Ministry said Tuesday.With only 49 job offers for every 100 people looking for work, the seasonally adjusted ratio gauging labor demand continues a steady decline that began when the...
JAPAN
Oct 27, 1998

Small firms call out for faster government action

Small and medium-size companies urged the government Tuesday to accelerate efforts to substantially improve their business conditions, including early compilation of a large-scale third supplementary budget."Small and medium-size companies are facing an unprecedented crisis. We want the government to...
JAPAN
Oct 27, 1998

FSA to spell out bank funding law to bankers

The Financial Supervisory Agency will meet with representatives from 18 major banks today to explain the newly enacted bank recapitalization law, a senior agency official said Tuesday.The briefing is intended to encourage banks to voluntarily apply for capital injection of public funds under the new...
JAPAN
Oct 27, 1998

Nomura shareholders settle for 380 million yen

Three Nomura Securities shareholders who filed a lawsuit against former executives of the brokerage for compensation over their alleged involvement in illegal payoffs to a "sokaiya" corporate extortionist agreed to a 380 million yen out-of-court settlement Tuesday.The investors filed three damages suits...
JAPAN
Oct 27, 1998

LDP starts wooing opposition parties

The Liberal Democratic Party, which lacks a majority in the Upper House, began policy discussions Tuesday with opposition groups Shinto Heiwa (New Peace Party,) Komei and the Liberal Party in a bid to forge closer ties with the opposition camp.The LDP hopes to forge better links with Shinto Heiwa (New...
JAPAN
Oct 27, 1998

Toshiba, Hitachi report huge midterm losses

Plagued by the prolonged economic slump and falling semiconductor prices worldwide, electronics giants Toshiba Corp. and Hitachi Ltd. on Tuesday reported their first midterm net losses in decades.And they were huge. Hitachi Ltd. posted an unconsolidated net loss of 124.7 billion yen -- the first midterm...
JAPAN
Oct 26, 1998

Aussie school offers funds for Japanese grad students

Recognizing its role in strengthening ties between Australia and Japan, the Australian National University last week announced the creation of a new scholarship for Japanese graduate students.The scholarship will provide tuition and other expenses for three years of graduate study in any discipline...
JAPAN
Oct 26, 1998

400 gather to remember Reischauer widow

Some 400 Japanese and Americans who have long been involved in promoting bilateral relations shared warm remembrances of Haru Matsukata Reischauer Monday during a special tribute to the wife of the late U.S. Ambassador to Japan, Edwin Reischauer.Haru died in California on Sept. 23 at age 83.In a simple...
JAPAN
Oct 26, 1998

Hayami asks banks to seek funds

BOJ Gov. Masaru Hayami on Monday again called on banks to avail themselves of the government's newly legislated recapitalization scheme.Speaking at the Bank of Japan's quarterly meeting of branch managers at BOJ headquarters in Tokyo, Hayami urged financial institutions to accelerate the cleanup of...
JAPAN
Oct 26, 1998

'Air Do' gets go-ahead for Sapporo-to-Tokyo flights

Hokkaido International Airlines obtained a license Monday from the Transport Ministry to operate regular passenger flights between Sapporo and Tokyo, thus becoming the second new carrier to enter the domestic airline market under ongoing deregulation efforts.The Sapporo-based firm, better known as "Air...
JAPAN
Oct 26, 1998

Software exports cut by half in '97

Computer software exports in 1997 tumbled to roughly half of the previous year's levels, due mainly to the Asian economic crisis, a joint survey released Monday by four industry associations in Japan and the U.S. indicated.Exports totaled 2.8 billion yen, while imports increased by 20.7 percent to hit...
JAPAN
Oct 26, 1998

Kuwait seeks more investment from Japan

Kuwait hopes to attract more Japanese investment when it enacts a new investment law, Kuwaiti Deputy Prime Minister and Foreign Minister Sabah Al Ahmad Al Sabah told Prime Minister Keizo Obuchi on Monday.Sabah told Obuchi that Kuwait wants to expand relations with Japan in various areas, especially...
JAPAN
Oct 26, 1998

Organized crime on rise, top prosecutor warns

Crimes in Japan are becoming increasingly organized, global and technologically advanced, but the public is not fully aware of the changing face of crime, the nation's highest-ranking prosecutor said Monday.Speaking at the Japan National Press Club, Public Prosecutor General Keisuke Kitajima said that...
JAPAN
Oct 23, 1998

Matsushita opens R&D site in Apple's neighborhood

OSAKA -- Matsushita Electric Industrial Co. has opened a digital technology research and development center in Cupertino, Calif., the company said.The Panasonic Digital Concept Center aims to develop technologies for computerized consumer electric products that also feature information equipment functions,...
JAPAN
Oct 23, 1998

FSA declares LTCB insolvent

The Long-Term Credit Bank of Japan's latent losses exceeded its net worth as of Sept. 30, indicating that it effectively is insolvent, the Financial Supervisory Agency said Friday.The LTCB was solvent in March but became effectively insolvent partly because the bank had not made sufficient provisions...
JAPAN
Oct 23, 1998

Faltering Ford charts new recovery path

Struggling to gain a foothold in Japan, senior officials of Ford Motor's Japanese subsidiary next week will begin visiting affiliated auto dealers across the country.
JAPAN
Oct 23, 1998

Miyazawa sanguine on Long-Term credit debacle

Following the government's decision to temporarily place the Long-Term Credit Bank of Japan under state control, Finance Minister Kiichi Miyazawa said Friday that the bank's depositors and clients do not have to worry about its imminent takeover.Speaking at a news conference, he said all depositors'...
JAPAN
Oct 23, 1998

The Aum Trials: Ex-cultist to hang for role in Sakamoto killings

The Tokyo District Court sentenced Aum Shinrikyo deserter Kazuaki Okazaki, 38, to death Friday for taking part in the murders of an anti-Aum lawyer and the attorney's family and the killing of an errant cultist in 1989.Friday's ruling marks the first time capital punishment has been meted out in connection...
JAPAN
Oct 23, 1998

Ostracized burakumin leather tanners faced with new threat

The biggest victim of a leather products trade dispute between Japan and the European Union may turn out to be the hisabetsu buraku — the ostracized hamlets where many of Japan's social outcasts earn a living tanning leather.
JAPAN
Oct 23, 1998

NEC posts first midterm loss in five years

Struggling with the domestic economic slump and falling prices in the semiconductor market, NEC Corp. suffered a consolidated net mid-term earnings loss for the first time in five years, company officials said Friday.The net loss for the April-September period was 19.7 billion yen, with the operating...
JAPAN
Oct 23, 1998

'93 Rodong may have flown over Japan, agency admits

The Defense Agency has been informed by U.S. sources that the Rodong missile North Korea test fired in May 1993 might have flown over Japan, Defense Agency chief Fukushiro Nukaga said Friday.The single-stage missile possibly flew some 1,300 km and landed in the Pacific, Nukaga quoted the U.S. sources...
JAPAN
Oct 23, 1998

Defense seeks 963 million yen for missile defense

The Defense Agency on Friday requested 963 million yen in the fiscal 1999 budget to start a joint research program with the United States to develop a missile defense system.The budget is to cover the design and trial manufacture of missiles to be used for the Navy Theater Wide Defense system, the sea-based...
JAPAN
Oct 23, 1998

Government nationalizes Long-Term Credit Bank of Japan

The government placed the troubled Long-Term Credit Bank of Japan under state control Friday after the bank reported it may have to suspend repayments of deposits and other obligations.A report released by the Financial Supervisory Agency on the same day said the LTCB is insolvent, with liabilities...
JAPAN
Oct 23, 1998

APEC may force Japan into tariff compromise

Japan intends to seek a compromise on the easing of its fisheries and forestry trade barriers at next month's meeting of the Asia-Pacific Economic Cooperation forum, the government's top spokesman indicated Friday.Chief Cabinet Secretary Hiromu Nonaka said the government has virtually given up its position...
JAPAN
Oct 23, 1998

Death sentence 'a matter of course,' court says

Staff writerFriday's ruling that sentenced to death former Aum Shinrikyo senior figure Kazuaki Okazaki is widely viewed by legal experts as "a matter of course," considering the heinous nature of the crimes.Explaining the reasons for capital punishment, presiding Judge Megumi Yamamuro at the Tokyo District...
JAPAN
Oct 23, 1998

Okazaki calls demand for death unfair

Kazuaki Okazaki, a former Aum Shinrikyo figure sentenced to death Friday, showed little emotion in court during the near hour it took the judge to read out his ruling. Sitting motionless with his hands on his knees and tilting his head down, he looked as if he was in deep meditation.But letters Okazaki...

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