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JAPAN
Oct 30, 1998

Mitsui Trust withdraws from overseas operations

Mitsui Trust & Banking Co. announced a sweeping corporate restructuring plan Friday that calls for it to retreat from overseas banking by the end of March and concentrate on domestic asset trust services in tandem with a U.S. firm.As part of the streamlining, executive bonuses will be cut 10 percent...
JAPAN
Oct 30, 1998

Russian official indicates Obuchi visit still on

Tokyo on Friday received an sign from Moscow that Prime Minister Keizo Obuchi's official visit to Russia may take place as scheduled, Foreign Ministry officials said.Obuchi's visit from Nov. 10 to Nov. 13 was put in doubt earlier this week when it was announced that Russian President Boris Yeltsin would...
JAPAN
Oct 30, 1998

That was no satellite: Defense Agency

The Aug. 31 rocket launch by North Korea was a test firing of its Taepodong-type ballistic missile, and the satellite that Pyongyang insists was carried by the rocket was most likely just an excuse for the test if it did exist, the Defense Agency concluded Friday.The agency submitted its final report...
JAPAN
Oct 30, 1998

Nissan Diesel posts midterm loss

Nissan Diesel Motor Co., a major truck and bus maker, posted midterm losses Friday for the April-September period, citing plummeting truck sales attributed to the serious economic slump in the domestic market.The Nissan-affiliated company reported a midterm pretax loss of 6.2 billion yen and a net loss...
JAPAN
Oct 30, 1998

Parents give troubled kids cold shoulder, survey says

Many parents fail to notice signs of their children's frustration, forcing kids to try to resolve problems on their own or by turning to friends for help, according to an Education Ministry survey released Friday.One-fifth of elementary, junior high and high school students polled recently by the ministry...
JAPAN
Oct 30, 1998

Toyota unveils Altezza sedan

Toyota Motor Corp. unveiled its new 2-liter Altezza sports sedan Friday, the first car solely developed for Netz Toyota, the company's new dealership network launched in August, company officials said.In August, Toyota renamed Auto, one of its five major dealership networks, to Netz Toyota, aiming to...
JAPAN
Oct 30, 1998

Tokyo pushes for ODA to combat global warming

Staff writerWith a key environmental conference slated to kick off in Buenos Aires on Monday, Tokyo has launched a behind-the-scenes diplomatic effort to rally support for official development assistance to play a role in implementing the "clean development mechanism" to combat global warming.The Japanese...
JAPAN
Oct 30, 1998

JAL first-half profits down 9.1%

Japan Airlines Co. reported 27.8 billion yen in operating profits on an unconsolidated basis for the first half of fiscal 1998, down 24.4 percent from the same period of the previous year, due to the downward trend of air fares, the officials announced on Friday.For the April-September period JAL posted...
JAPAN
Oct 30, 1998

ASEAN business leaders urge Japan to lead Asian recovery

OSAKA -- Southeast Asian business leaders called on Japan to take charge of healing the ailing Asian economy as they closed the 24th ASEAN-Japan Business Meeting here Friday.Tan Sri Dato' Azman Hashim, chairman of Arab-Malaysian Banking Group, said that ASEAN nations hope Japan will take the lead in...
JAPAN
Oct 30, 1998

Ramos tells Asian states to act as one

Staff writerKAKEGAWA, Shizuoka Pref. -- Asian nations need to transcend narrow national interests and act as a region to overcome the current economic slump, Former Philippine President Fidel Ramos said in a keynote address here Friday."We must reinforce Asian solidarity ... because each of our countries,...
JAPAN
Oct 30, 1998

New Komeito envisions 'middle-of-the-road' policies

The New Komeito party, which will be formed next week through a merger of Shinto Heiwa (New Peace Party) and Komei, will pursue "middle-of-the road" policies for the benefit of ordinary people, members say.A draft policy agenda and principles released Friday by a committee preparing for the new party...
JAPAN
Oct 30, 1998

Global satellite phone systems prepare to power up

Staff writerA new global satellite phone system that promises to release users from the fetters of conventional, bulky and cumbersome mobile phones currently in use begins service Sunday amid mixed expectations regarding its success.Nippon Iridium Corp.'s new Iridium service will provide customers with...
JAPAN
Oct 29, 1998

Obuchi, ex-India leader hold arms talks

Prime Minister Keizo Obuchi on Thursday urged India to cooperate with international efforts to promote nuclear nonproliferation.During talks in Tokyo with former Indian Prime Minister Inder Kumar Gujral, Obuchi also acknowledged India's positive stance toward signing the Comprehensive Test Ban Treaty...
JAPAN
Oct 29, 1998

MITI request of 144 billion yen eyed to aid small firms

The Ministry of International Trade and Industry will request 144 billion yen for measures to support small and midsize firms suffering from the ongoing credit crunch, ministry officials said Thursday.MITI said it will file the request today with the Finance Ministry in line with the government's plan...
JAPAN
Oct 29, 1998

Okinawa kicks off crucial gubernatorial race

NAHA -- The official campaign for the Nov. 15 Okinawa gubernatorial election kicked off Thursday, beginning a contest that could determine the future of U.S. military bases on the island prefecture and its anemic economy.The race is being portrayed by many as a contest between incumbent Gov. Masahide...
JAPAN
Oct 29, 1998

LDP, opposition parties set final date for coupon plan

The ruling Liberal Democratic Party agreed Thursday with the opposition parties Shinto Heiwa (New Peace Party) and Komei to finalize on Nov. 9 a proposed plan to hand out merchandise coupons to the public in an effort to reinvigorate the now-stagnant personal consumption.In their first meeting, members...
JAPAN
Oct 29, 1998

Buyers scarce for former JNR plots

Japan Railway Construction Public Corp. has taken over 1,273 hectares of land that remained unsold when JNR Settlements Corp. ended its 11-year history last week.The public corporation hopes to sell off the property by fiscal 2003 to help reduce 28.3 trillion yen in debts left behind by the defunct...
JAPAN
Oct 29, 1998

Canada backs APEC on Japan's forestry, fishery tariffs

Canada on Thursday joined the APEC chorus in calling on Japan to further reduce tariffs on forestry and fishery products during a high-level meeting in Tokyo, Foreign Ministry officials said.At two-day vice ministerial talks ended Thursday, the Canadian side expressed dissatisfaction with Japan's failure...
JAPAN
Oct 29, 1998

Ministry suggests refresher courses for teachers

Not only students but also teachers will be encouraged to study harder in the next century -- to brush up their teaching and guiding abilities to meet the changing needs of kids, according to an advisory panel to the education minister.In its final report released Thursday, the Educational Personnel...
JAPAN
Oct 29, 1998

Banks again asked to take public funds

OSAKA -- For the second time this week, Bank of Japan Gov. Masaru Hayami on Thursday urged Japanese banks to quickly apply for public funds to accelerate their bad-loan writeoffs.In his keynote speech at the 24th ASEAN-Japan Business Meeting here, he said that Japanese financial institutions, facing...
JAPAN
Oct 29, 1998

ANA reports 10 billion yen net profit for first half

All Nippon Airways Co. reported 10 billion yen in unconsolidated net profit for the first half of fiscal 1998, up 68.2 percent from the same period the previous year, the carrier announced Thursday.For the April-September period, ANA reported 6 billion yen in operating profit, down 48.8 percent from...
JAPAN
Oct 29, 1998

LDP tax panel prepares to dig up more tax cuts

A tax panel of the Liberal Democratic Party is set to begin work to overhaul the nation's tax system in an attempt to help generate lasting economic growth.Attention is focused on how much more the LDP's Tax System Research Commission, chaired by former Finance Minister Yoshiro Hayashi, can add to planned...
JAPAN
Oct 29, 1998

APEC members endorse paperless trading by 2010

Staff writerJapan, the United States and 19 other members of the Asia-Pacific Economic Cooperation forum have agreed in principle to institute paperless trading by 2010, government sources said Thursday.The agreement will be finalized at the 10th annual meeting of APEC foreign and trade ministers and...
JAPAN
Oct 28, 1998

Local handling urged for proposed consumption coupons

If municipal governments, instead of the central government, issue 30,000 yen gift coupons, this could help to boost personal consumption, Chief Cabinet Secretary Hiromu Nonaka said Wednesday.Komei and Shinto Heiwa (New Peace Party) have been asking the ruling Liberal Democratic Party to issue coupons...
JAPAN
Oct 28, 1998

WTO sides with U.S. in apple trade dispute

The WTO's dispute settlement panel on Tuesday agreed with the U.S. that Japan's required plant quarantines for testing apples and other produce is effectively a trade barrier.In its final report on the so-called apple dispute, the panel of the Geneva-based World Trade Organization told Japan to simplify...
JAPAN
Oct 28, 1998

DPJ comes up with new defense guidelines proposal

While bills to implement the revised Japan-U.S. defense cooperation guidelines are being suspended in the Diet, the Democratic Party of Japan -- the largest opposition party -- released new proposals Wednesday, calling for the bills' early passage by the Diet.In the draft proposals, the DPJ shows a...
JAPAN
Oct 28, 1998

BOJ board agrees to leave monetary policy unchanged

The Bank of Japan's Policy Board has agreed to keep its monetary policy unchanged, the central bank said Wednesday.The decision, adopted by a majority vote of the board's nine members, reflects a view shared by most financial experts that there is little room for another interest rate cut to spur the...
JAPAN
Oct 28, 1998

Industrial production rose 2.5% in September

Industrial production in September increased by 2.5 percent from August, the first gain in three months, according to a preliminary report released Wednesday by the Ministry of International Trade and Industry.The seasonally adjusted production index for the nation's mining and manufacturing sectors...
JAPAN
Oct 28, 1998

Amway says it will change distribution system

Amway Japan Ltd., a direct marketer of household goods and food, will introduce a new distribution system next month to increase the transparency of its business, Amway officials said Wednesday.The head of the Japan Consumer Information Center told a Diet committee last year that the center had received...
JAPAN
Oct 28, 1998

Nippon Iridium delays debut for trial launch

Nippon Iridium Corp. will on Nov. 1 launch a trial of its new satellite cellular phone service, rather than full-scale service as initially planned, to test whether full service can be offered when users travel abroad, it was announced Wednesday.According to the company, it will not charge a basic monthly...

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