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JAPAN
Oct 16, 1998

Diversity urged for energy security ahead of APEC meet

Staff writerGINOWAN, Okinawa Pref. -- Australia must make the most of its rich natural resources and knowledge of efficient energy infrastructure to help Asia-Pacific economies meet the surging energy demands of the next century, said Warwick Parer, Australian minister for resources and energy."One...
JAPAN
Oct 16, 1998

U.S. raises concerns about new Bank law

The United States on Friday expressed concerns over whether Japan's bank recapitalization law will be effectively used to solve its banking trouble.U.S. Treasury officials raised the question at working-level talks with the Finance Ministry held in Tokyo, according to officials from both sides. The...
JAPAN
Oct 16, 1998

The Aum Trials: Inoue blames actions on loyalty

Former Aum Shinrikyo intelligence chief Yoshihiro Inoue testified in court Friday that his involvement in heinous crimes allegedly carried out by the cult derived from his loyalty toward its guru, Shoko Asahara.Inoue's defense team questioned him at his trial hearing at the Tokyo District Court to clarify...
JAPAN
Oct 16, 1998

BOJ minutes: Lone voice argued for key interest rate cut

Repeated calls by a Bank of Japan Policy Board member to strengthen the BOJ's easy monetary policy finally led to a board decision at its Sept. 9 meeting to lower a key short-term interest rate, according to minutes of the meeting released Friday.On Sept. 9, the policy board decided to further ease...
JAPAN
Oct 16, 1998

Ghana's first lady commends NGOs for progress

OSAKA -- Governments and nongovernmental organizations in Africa have been building better relations by increasing their mutual knowledge and understanding, Nana Konadu Agyeman Rawlings, the first lady of Ghana, said at an international symposium held here Friday.Addressing about 150 participants in...
JAPAN
Oct 15, 1998

Current account grew 43.6% in August

The nation's current account surplus rose 43.6 percent in August from a year earlier to 1.158 trillion yen, the Finance Ministry said in preliminary statistics released Thursday.It was the 17th consecutive month of growth for the broadest gauge of trade in goods and services and some unilateral transfers.The...
JAPAN
Oct 15, 1998

Quick recovery unlikely, BOJ reports

A speedy economic recovery will be difficult to achieve despite the government's economic stimulus measures and the Bank of Japan's easier monetary policy, the central bank said in a report released Thursday.According to the BOJ's monthly report on recent economic and financial developments for October,...
JAPAN
Oct 15, 1998

Nonaka scolds Kishi's resistance to bank bill

Banks should expedite their restructuring efforts and get a better understanding of their responsibility in the nation's financial system, Chief Cabinet Secretary Hiromu Nonaka said Thursday.Nonaka's remarks were directed at a comment made earlier in the day by Satoru Kishi, chairman of the Federation...
JAPAN
Oct 15, 1998

Recapitalization plan on verge of becoming law

The new bank recapitalization bill is expected to be enacted today on the last day of the current Diet session.The bill, which cleared the Lower House Tuesday, is expected to be approved by the Upper House's plenary session this afternoon.At the same time, the chamber's plenary session will also approve...
JAPAN
Oct 15, 1998

Immigration to ease rules on re-entry permits, Australians

Justice Minister Shozaburo Nakamura on Thursday announced a set of changes to immigration policies, including extending the period for re-entry permits and eliminating a visa requirement for short-term visitors from Australia.Nakamura told a news conference that the changes are part of the nation's...
JAPAN
Oct 15, 1998

Sorrow expressed for Okinawa girl's death

Chief Cabinet Secretary Hiromu Nonaka expressed his sorrow Thursday over the death the previous day of a female hit-and-run victim in Okinawa Prefecture."We would like to pray for the repose of her soul," he said, referring to Yuki Uema, an 18-year-old high school student who died of head injuries sustained...
JAPAN
Oct 15, 1998

Expert calls for overhaul of emergency medical system

Staff writerThe nation's emergency medical system should be greatly improved before organ transplants from brain-dead donors are promoted, said one veteran doctor who specializes in emergency care.Yuichi Hamabe, director of the Tokyo Metropolitan Bokuto Hospital's Life Support Emergency Center in Sumida...
JAPAN
Oct 15, 1998

JNR repayment plan wins Diet approval

Laws for disposing of 27.8 trillion yen in debts left behind by the now-defunct Japanese National Railways were enacted Thursday when the Upper House approved the measures by a margin of 129-113.Under the laws, the huge debts will be disposed of over 60 years, mostly by using taxpayer money and by requiring...
JAPAN
Oct 15, 1998

Industrial output lowest since May '94

Industrial output dropped by 1.3 percent from July to August, falling to the lowest level since May 1994, according to a revised report issued Thursday by the Ministry of International Trade and Industry.In a preliminary report released earlier, MITI said industrial output in August declined 0.6 percent.Due...
JAPAN
Oct 15, 1998

Bank infusions should be simultaneous, Hayami says

The nation's 19 major banks should receive capital injections not one at a time but all at once to maximize the move after a bank recapitalization bill designed to reinforce their capital bases is enacted, Bank of Japan Gov. Masaru Hayami said Thursday.With the injection of public funds, clear-cut disclosure...
JAPAN
Oct 15, 1998

Tight lending takes toll on record number of firms

A record number of small and medium-size firms are suffering from banks' tight grip on lending, according to a report released Thursday by the Ministry of International Trade and Industry.The financial institutions are reluctant to lend because they are struggling to sustain their capital-adequacy ratios...
JAPAN
Oct 15, 1998

The Asahara Trial: Accused killer vents spleen

A senior Aum Shinrikyo figure expressed his disgust at prosecutors during his guru's murder trial Thursday, claiming he was repeatedly forced to change his testimony during investigations to fit the state's portrayal of events leading up to the sarin attack in Matsumoto, Nagano Prefecture.Satoru Hashimoto,...
JAPAN
Oct 15, 1998

SDF to conduct first combined drill

The air, maritime and ground units of the Self-Defense Forces will join in a tripartite exercise next month for the first time in SDF history, Defense Agency officials said Thursday.The exercise will take place Nov. 15 in and around Iojima, an uninhabited island some 1,500 km south of Tokyo, they said....
JAPAN
Oct 14, 1998

DPJ's Ikeda calls new bill 'opaque,' counterproductive

Staff writer The banking sector crisis will continue because of the "opaque" bank recapitalization bill, Motohisa Ikeda, a key member of the Democratic Party of Japan, said Wednesday. The bill, expected to be enacted Friday, will not enable accurate assessment of bank assets, sufficient injection of...
JAPAN
Oct 14, 1998

Jamaican leader joins economic chorus

Staff writerJamaican Prime Minister Percival Patterson urged Japan on Monday to make an early economic recovery because its weakness negatively impacts not only Jamaica but the international community as a whole."The problems which have occurred in the Japanese economy extend well beyond Japan itself....
JAPAN
Oct 14, 1998

Last payments set for victims of Aum

A total of 960 million yen will be paid to about 2,100 claimants for damages from Aum Shinrikyo -- many of them victims of crimes blamed on the cult -- early next week, lawyers for Aum's bankruptcy case said Wednesday at a claimants' meeting in Tokyo.Saburo Abe, a lawyer who has worked as an administrator...
JAPAN
Oct 14, 1998

Push banks to accept public funds, council urges

The government should take the initiative to quickly inject tens of trillions of yen in public money into the nation's major banks to boost their capital bases and ease the credit crunch, a special advisory panel to Prime Minister Keizo Obuchi proposed Wednesday.The Strategic Economic Council, headed...
JAPAN
Oct 14, 1998

High-level deregulation talks to convene in Washington

Japan and the United States will hold high-level talks on deregulation Nov. 6 in Washington to exchange views on procedures of the deregulation dialogue between the two countries, Foreign Ministry officials said Wednesday.At working-level talks on deregulation, the U.S. side said that it hopes to compile...
JAPAN
Oct 14, 1998

Corporate failures in first half surge to postwar high

The number of corporate bankruptcies with debts of more than 10 million yen each totaled 10,034 during the first half of fiscal 1998 -- the April to September period -- major corporate research firm Teikoku Databank said Wednesday.It was the first time in 14 years the figure has exceeded 10,000 during...
JAPAN
Oct 14, 1998

Chiyoda Life, UNUM boost tieup

Chiyoda Mutual Life Insurance Co. and UNUM Corp., a major nonlife insurer in the United States, have agreed to strengthen their current sales tieup arrangements, with Chiyoda reinsuring UNUM's insurance contracts, the two companies said Wednesday.With the agreement, Chiyoda is the nation's first life...
JAPAN
Oct 14, 1998

Daiei reports first-half net loss of 983 million yen

Suffering from weak consumer spending and restructuring costs to close poorly performing shops, supermarket giant Daiei Inc. reported a net loss of 983 million yen Wednesday for the March-August period on a nonconsolidated basis.This is the first time the company has posted an after-tax loss in an interim...
JAPAN
Oct 14, 1998

'Systematic' coverup denied in Defense Agency report

The Defense Agency on Wednesday officially denied that it attempted to cover up the ongoing procurement overcharging scandal, while admitting some related evidence had been destroyed shortly before the Sept. 3 raid on the agency.In an interim in-house investigation report released by Defense Agency...
JAPAN
Oct 14, 1998

Proposed Games sites tested for dioxin

OSAKA -- City officials on Wednesday tested soil and water for dioxin around two man-made islands in Osaka Bay that are the proposed sites of the 2008 Summer Olympics and Olympian Village.The tests were conducted in areas surrounding Maishima and Yumeshima, which were created using the soil and ash...
JAPAN
Oct 13, 1998

Nippon Life, Putnam seal investment trust tieup deal

Nippon Life Insurance Co. and Putnam Investments of the United States sealed an agreement Tuesday to strengthen their ties in investment trust sales.Under their alliance, the two firms will jointly develop and retail investment trust products and provide asset management services, officials of the two...
JAPAN
Oct 13, 1998

Bidding leaks alleged at JNR Settlements

The Transport Ministry will investigate whether officials of Japanese National Railways Settlements Corp. leaked information to Obayashi Corp., a major general contractor, prior to bidding on property holdings, Transport Minister Jiro Kawasaki said Tuesday."We will look into the matter instead of leaving...

Longform

Mount Fuji is considered one of Japan's most iconic symbols and is a major draw for tourists. It's still a mountain, though, and potential hikers need to properly prepare for any climb.
What it takes to save lives on Mount Fuji