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COMMENTARY
Jul 17, 2008

Let's hope it's over soon

The world is now in the grip of a first-class financial crisis. Some will be hit harder than others, but no one is going to escape. Final confirmation of this has arrived with the news that the two giant mortgage companies, Fannie Mae and Freddie Mac, pillars of American life that underwrite, or insure,...
BUSINESS
May 22, 2007

SMFG reports 35.7% drop in net profit

The Sumitomo Mitsui Financial Group, one of Japan's three largest banking groups, reported Monday that group net profit dropped 35.7 percent to 441.4 billion yen in 2006 because of losses from consumer lending affiliate Promise Co. and weak banking operations.
BUSINESS
Dec 30, 2006

Nikkei ends rocky '06 on an up-tweak

The Tokyo Stock Exchange edged up just over a point Friday, wrapping up a turbulent 2006 marked by a spate of high-profile corporate scandals.
BUSINESS
Dec 19, 2006

Nikko faces big fine over padding

The Securities and Exchange Surveillance Commission recommended Monday that the Financial Services Agency slap Nikko Cordial Corp. with a fine of 500 million yen, the largest ever, for falsifying its fiscal 2004 financial reports.
Japan Times
JAPAN
Sep 5, 2006

Future of Japan securities reform at stake

As the trial of Japan's most famous dot-com entrepreneur opened Monday, a much wider issue was also before the court: the nation's tenuous shift toward a more freewheeling market economy.
JAPAN
Aug 1, 2006

Suit by Japan Highway boss against 'true story' is thrown out

The Tokyo District Court dismissed a libel suit Monday filed by Haruho Fujii, former president of the now-defunct Japan Highway Public Corp., and said a magazine article correctly reported his concealment of the corporation's financial statements.
EDITORIALS
Nov 2, 2005

Little time to do so much

The lineup of Prime Minister Junichiro Koizumi's new Cabinet, formed Monday, shows his determination to put finishing touches on his reforms in the rather short time left for him. He has made clear that he will step down in September 2006. Mr. Koizumi included in his new Cabinet three politicians from...
BUSINESS
May 18, 2005

TSE won't shed regulatory division

The Tokyo Stock Exchange has no intention of spinning off the division that sets rules for listing applications and equities transactions when the bourse becomes a listed company later this year, TSE President Takuo Tsurushima said Tuesday.
BUSINESS
Apr 29, 2005

BOJ projecting change in easy monetary policy

The Bank of Japan said Thursday that easing anxiety over the country's financial stability has increased the likelihood that its ultra-loose monetary policy will change.
JAPAN
Apr 26, 2005

Is the economy better off under Koizumi?

Prime Minister Junichiro Koizumi on Tuesday enters the fifth year of his administration.
COMMENTARY / World
Feb 11, 2005

Easy money set up today's dollar slump

GUATEMALA CITY -- There is a great deal of misunderstanding about why the dollar is in a slump. But it's no mystery. Recently, German Chancellor Gerhard Schroeder was quoted as blaming America's infamous twin deficits for the fall of the dollar. And many financial talking heads murmured with relief when...
JAPAN
Dec 29, 2004

Daiei, Misawa to get IRCJ bailout

The Industrial Revitalization Corp. of Japan made it official Tuesday: It will support ailing retailer Daiei Inc. and Misawa Homes Holdings Inc. in what would be the biggest and probably the last case taken on by the bailout agency.
BUSINESS
Nov 25, 2004

MTFG, UFJ post declines in first half

Mitsubishi Tokyo Financial Group Inc. announced Wednesday its group net profit fell 43.1 percent in the fiscal first half from a year earlier to 171.7 billion yen, while merger partner UFJ Holdings said separately its group net loss was 674.3 billion yen for the six months to September.
BUSINESS
May 7, 2004

Numerical bad-loan targets sought for regional banks

The government will ask regional banks to set numerical bad-loan reduction targets and to strengthen their financial bases, according to a draft of fresh government guidelines aimed at bolstering the nation's financial system.
BUSINESS
Apr 14, 2004

Japan Post sees international business as cornerstone

Japan Post aims to beef up its international business to survive intensifying global competition ahead of its planned privatization beginning in 2007, according to Masaharu Ikuta, president of the government-owned entity.
BUSINESS
Mar 25, 2004

Banks must use realistic interest rates, lobby says

Japanese banks' interest rates on loans should better reflect borrower creditworthiness to mitigate against the risk of borrowers going under, a powerful business lobby said in a report Wednesday.
Japan Times
BUSINESS
Mar 20, 2004

Fukui said to be 'doing his best' under strict policy

Sakuya Fujiwara, former deputy governor of the Bank of Japan, says BOJ Gov. Toshihiko Fukui is constantly under public pressure over the central bank's monetary measures.
BUSINESS
May 21, 2003

BOJ decides to pump more cash into system

The Bank of Japan decided Tuesday to pump still more money into the economy amid falling stock prices, a rising yen and the bailout of Resona Bank.
BUSINESS
May 14, 2003

Yield cut proposal goes to LDP

The Financial Services Agency presented a draft bill Tuesday to the Liberal Democratic Party that would enable troubled life insurers to lower promised yields on insurance contracts.
BUSINESS
Mar 19, 2003

Koizumi tells Cabinet to watch markets closely

Prime Minister Junichiro Koizumi on Tuesday urged his Cabinet to monitor financial markets carefully and cooperate closely with the Bank of Japan to prevent any disruptions as a result of the looming war in Iraq, government officials said.
BUSINESS
Mar 8, 2003

Takenaka denies wrongdoing in banker meeting

Financial Services Minister Heizo Takenaka on Friday denied he violated Cabinet guidelines by meeting with the chiefs of U.S. investment bank Goldman Sachs Group Inc. and Sumitomo Mitsui Financial Group Inc., as reported by a magazine.
BUSINESS
Sep 4, 2002

Yanagisawa pushes banks to introduce new settlement account

Financial Services Minister Hakuo Yanagisawa expressed hope Tuesday that financial institutions will introduce a new settlement-specific bank account next April whose deposits are fully protected by the government, although doing so is not mandatory.
BUSINESS
Jun 22, 2002

Ex-Mizuho chiefs' allowances eyed

Former top officials of Mizuho Holdings Inc. should either repay their retirement allowances or have them reduced as a means of accepting responsibility for the massive computer debacle that threw operations at the firm's two banks into chaos in April, Financial Services Minister Hakuo Yanagisawa said...
JAPAN / Media / MEDIA MIX
Apr 28, 2002

Public rests easy with cash under the futon

As the scandals keep a-comin', the citizens are receiving what many believe is a healthy and long overdue reality check about those whom they've entrusted with their collective well-being. Politicians have always been suspicious types and bureaucrats only slightly less so. But now teachers, policemen...
BUSINESS
Apr 2, 2002

Yanagisawa assures banks are healthy

All of the nation's financial institutions are in good health following the introduction of the "payoff" system cap on time-deposit guarantees at banks, Financial Services Minister Hakuo Yanagisawa said Monday.

Longform

After the asset-price bubble crash of the early 1990s, employment at a Japanese company was no longer necessarily for life. As a result, a new generation is less willing to endure a toxic work culture —life’s too short, after all.
How Japan's youth are slowly changing the country's work ethic