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JAPAN
Dec 23, 1997

Maruso Securities files for bankruptcy

Midsize brokerage house Maruso Securities Co. filed a petition Tuesday with the Tokyo District Court for permission to start voluntary bankruptcy proceedings, court officials said.
JAPAN
Dec 22, 1997

Daiwa Bank, IBM form data managing venture

Daiwa Bank and IBM Japan Ltd. said Monday they have agreed to form a joint venture that will develop and operate information systems for the commercial bank.
JAPAN
Dec 19, 1997

Shares and yen tumble as credit crunch worsens

Share prices and the yen came under severe selling pressure Friday in Tokyo amid reports that a credit crunch has forced a major food trader out of business.
JAPAN
Dec 18, 1997

Seamen left high and dry as tunnel's opening celebrated

KISARAZU, Chiba Pref. -- It was the day to hang up their sea boots after decades on the sea.
JAPAN
Dec 18, 1997

New Osaka train line speeds up bay route

OSAKA -- Technoport Line, a new train line linking existing subway and monorail lines, opened here Thursday, offering better access to the Osaka Bay area.
JAPAN
Dec 15, 1997

Japan, U.S. air out aviation differences

The United States and Japan ended the first day of round six of their official civil aviation talks Monday at the Transport Ministry by reconfirming their differences on key issues in the protracted dispute.
JAPAN
Dec 15, 1997

LDP to approve 10 trillion yen bond package for DIC

The ruling Liberal Democratic Party on Monday finalized details of its financial stabilization package, featuring 10 trillion yen in government bonds for Deposit Insurance Corp. to help recapitalize troubled financial institutions.
JAPAN
Dec 15, 1997

LDP panel formulates corporate tax cut agreement

The Liberal Democratic Party's tax panel reached a rough agreement Monday to reduce the basic corporate tax rate by 3 percentage points in fiscal 1998, leading to a net reduction of roughly 330 billion yen in corporate taxes, senior panel officials said.
JAPAN
Dec 11, 1997

Japan ripe for opening to foreign investment, Foley says

The time is right for Japan to implement policy changes to eliminate barriers to foreign investment and encourage more cross-border mergers and acquisitions, U.S. Ambassador Thomas Foley said Thursday in Tokyo.
JAPAN
Dec 11, 1997

Cabinet withstands no-confidence motion

Claiming that Prime Minister Ryutaro Hashimoto is incapable of running the government, Shinshinto introduced a no-confidence motion Thursday to the Diet.
JAPAN
Dec 10, 1997

Outline of financial stability plan addresses DIC, liquidity

A Liberal Democratic Party subcommittee debating steps to stabilize the financial system basically agreed Wednesday on a broad outline that includes galvanizing Deposit Insurance Corp. and increasing the liquidity of financial institutions.
JAPAN
Dec 10, 1997

SESC says Nikko, Daiwa should be punished over 'sokaiya'

The Securities and Exchange Surveillance Commission recommended Wednesday to the finance minister that punitive action be taken against Nikko Securities Co. and Daiwa Securities Co. for compensating a "sokaiya" corporate extortionist for his stock losses.
JAPAN
Dec 9, 1997

Business and Labor team up on call for tax cuts

The government should swiftly implement drastic tax cuts to stimulate the nation's sluggish economy, leaders of the nation's big businesses and labor unions agreed Tuesday.
JAPAN
Dec 9, 1997

Public highway firms assessed for entertainment outlays

OSAKA -- Two affiliates of Hanshin Expressway Public Corp. spent more than 2 million yen for entertainment, accounting for it as conference expenses, and 1.5 million yen in private taxi fares for business purposes, Osaka Regional Tax Bureau sources said Tuesday.
JAPAN
Dec 4, 1997

Yamaichi to continue paying employees

Yamaichi Securities Co. will pay wages and retirement money to its employees in accordance with their labor contracts, an executive of the failed brokerage asserted Thursday.
JAPAN
Dec 1, 1997

Seven suspected in land sales fraud

Police arrested six people and put another on a wanted list Monday on suspicion of swindling 10 million yen from elderly people who had earlier suffered losses from fraudulent sales of undeveloped rural property.
JAPAN
Nov 28, 1997

G-8, labor groups wrestle with global unemployment

Staff Writer
JAPAN
Nov 28, 1997

Keidanren favors use of public money

The government should inject public money into financial institutions through the issuance of special bonds to protect depositors and insurance policy holders in the event of a financial collapse, a think tank affiliated with the Japan Federation of Economic Organizations (Keidanren) proposed Friday....
JAPAN
Nov 25, 1997

Shock over Yamaichi closure sends stocks, yen reeling

Tokyo share prices fell broadly Tuesday as investors reacted with shock and concern to Yamaichi Securities Co.'s decision to shut down.
JAPAN
Nov 25, 1997

Japan's 'venture forum' plan targets G-8 jobless problem

Staff writer
JAPAN
Nov 21, 1997

Expanding day-care center building on bilingualism

Staff writer
JAPAN
Nov 21, 1997

Simul International folds

Simul International Inc., a major simultaneous service firm, effectively went bust Friday as it filed for "wagi" composition procedures with creditors, according to private credit research agency Teikoku Data Bank.
JAPAN
Nov 21, 1997

Writeoffs to leave four banks in red

Five of the nation's 10 city banks announced plans Friday to write off their massive bad loans during fiscal 1997, four of them saying they expect to go into the red at the end of the year.
JAPAN
Nov 21, 1997

Okinawa development steps unveiled

Staff writer
JAPAN
Nov 19, 1997

Public funds ruled out for finance bailouts

The government does not intend at this time to consider a new framework for using public funds to help prop up the financial sector, Finance Minister Hiroshi Mitsuzuka said Wednesday.
JAPAN
Nov 19, 1997

Former exec of Mitsukoshi unit held in breach of trust

A former executive of a Mitsukoshi Ltd. subsidiary and two other officials were arrested Wednesday for alleged aggravated breach of trust in connection with 180 million yen in payments to a construction company on the verge of financial collapse.
JAPAN
Nov 19, 1997

First-half profits slump at Fuji, Sanwa

Fuji Bank and Sanwa Bank, two of the nation's city banks, said Wednesday that their pretax profits for the April-September period fell 75.6 percent and 64.4 percent, respectively, from the same period last year as they continued efforts to dispose of bad assets.
JAPAN
Nov 18, 1997

Allies draw line in sand over postal services

Apparently backpedaling on administrative reform efforts, the ruling Liberal Democratic Party and its two smaller allies on Tuesday confirmed they will demand that the three services of the posts ministry be maintained as state-run.
JAPAN
Nov 18, 1997

Corporate heads praise measures, point to financial system

The nation's business leaders on Tuesday welcomed the government's package of pump-priming measures as effective, but called for measures to solve problems in the financial sector and for the government to reform the nation's taxation and administrative systems to stimulate the economy.
JAPAN
Nov 17, 1997

Hokkaido Takushoku folds; BOJ sends emergency loans

Marking the biggest collapse in the nation's financial industry, ailing Hokkaido Takushoku Bank announced Monday its de facto failure by saying it will transfer its operations to Hokkaido-based North Pacific Bank and other financial institutions.

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