Japan and Saudi Arabia will deepen economic ties and expand investment as the Middle East state seeks to reduce its dependence on oil revenue.   The announcement came after Saudi Economy and Planning Minister Mohammed Al-Tuwaijri met with Japanese Economy Minister Hiroshige Seko in Tokyo.   Al-Tuwaijri said the country will set up an investment office in Tokyo next year….Read more

By TARO FUJII, Nikkei staff writer   TOKYO — The number of Japanese companies operating in China has fallen by about 2% from three years ago, a new survey shows, suggesting the slowing Chinese economy and the Beijing-Washington trade conflict are prompting businesses to re-evaluate their strategies.   As of May this year, 13,685 Japanese companies had a presence in….Read more

The Japanese and Russian ministers in charge of bilateral economic cooperation have agreed to promote their cause by having Japanese firms join a major natural gas project in Russia’s Arctic region.   Hiroshige Seko, the Minister in charge of Economic Cooperation with Russia, met with his counterpart, Economic Development Minister Maxim Oreshkin, in Tokyo on Monday.   The talks were….Read more

Tokyo, June 10 (Jiji Press) — The Japanese and French governments have agreed to strengthen private-sector partnerships for the production of engines, seats and other airplane equipment, informed sources told Jiji Press on Monday. Japan’s Ministry of Economy, Trade and Industry and the French Civil Aviation Authority will conclude a memorandum of cooperation at the annual International Paris Air Show,….Read more

Japan’s government plans a big push on exports of infrastructure technology, including power-saving equipment. It aims to win orders worth 280 billion dollars next year. That’s up about 30 percent from 2017 in yen terms.   Government officials say they see opportunities in sales of energy conservation devices. They said Japan has some of the world’s leading technology in this….Read more

SHANGHAI — China and Japan agreed Monday to achieve cross-listing of investment funds traded on stock exchanges in each other’s countries as soon as possible, in another move to bolster their financial cooperation amid a thaw in bilateral ties.   The agreement would facilitate more Chinese and Japanese investors purchasing exchange-traded funds listed on Tokyo and Shanghai stock exchanges, which….Read more

By YUKIHIRO SAKAGUCHI, Nikkei staff writer   TOKYO — The Japanese government has urged the Asian Development Bank to stop granting new loans to China, on the grounds that the world’s second-biggest economy is rich enough to “graduate” from aid, Nikkei has learned.   Tokyo has already ended its own official development assistance to China in fiscal 2018, and the ADB push aligns Japan….Read more

By SHUHEI YAMADA, Nikkei Asia Tech chief editor   TOKYO — Top Japanese manufacturers including Toyota Motor and Hitachi are forging ties with Chinese startups, following Western giants like Airbus and Intel that have already harnessed innovation coming out of the world’s No. 2 economy.   Toyota is looking to develop devices for connected vehicles, while Hitachi is on the hunt….Read more

By MINORU SATAKE, Nikkei staff writer   LONDON — British Foreign Secretary Jeremy Hunt has asked Toyota Motor to remain in the U.K. even as the Japanese automaker considers following compatriot Honda Motor out of the country amid concerns over a no-deal Brexit, Nikkei has learned.   Hunt met with Toyota Vice Chairman Shigeru Hayakawa in Japan on Monday at London’s request,….Read more

NHK reported online this morning on the results of a survey conducted by Teikoku Databank showing there were 1,298 Japanese companies operating in the UK as of the end of March, 82 (5.9%) fewer than in June 2016 when the UK decided to leave the EU. By sector, the number of manufacturers dropped by 48; wholesalers, by 35; and service….Read more