Tokyo, April 22 (Jiji Press)–More and more online securities companies in Japan are scrapping commission fees on stock trading for young customers as part of efforts to encourage people in their 20s to start investing.   On Tuesday, industry leader SBI Securities Co. effectively abolished its commission fees on cash trading of domestic stocks for people aged between 20 and….Read more

Tokyo, April 14 (Jiji Press)–The Japanese Bankers Association is considering naming Sumitomo Mitsui Banking Corp. President Makoto Takashima as its next chairman, dropping its earlier plan to pass the post to Mizuho Financial Group Inc. <8411> President Tatsufumi Sakai, it has been learned.     Takashima is expected to assume the position in July, informed sources said. At its board meeting Thursday, the….Read more

On April 5, the Bank of Japan (BOJ) began the first stage of a three-stage demonstration trial of a central bank-issued digital currency (CBDC). For the purpose of the trial, a pseudo CBDC was issued via the computer to financial institutions to validate its basic clearance functions to users. Hitachi, Ltd. is involved in the first stage of the trial,….Read more

TOKYO — U.S. private equity firm Carlyle Group has hired a key member of former Prime Minister Shinzo Abe’s brain trust as a senior adviser at the company’s Japanese unit, Nikkei learned Wednesday.

Tokyo, March 18 (Jiji Press)–Major Japanese banks are expected to cut their remittance fees following a decision made Thursday by an industry body to lower interbank money transfer fees that have stayed unchanged for over 40 years.     Japanese Banks’ Payment Clearing Network, the operator of the system for money transfers between banks, said it will lower interbank money transfer….Read more

Expectations of high economic growth alone can undermine fiscal sustainability. The government must squarely face the current fiscal conditions that have become even more severe due to the spread of the novel coronavirus.   The Cabinet Office has compiled the latest fiscal projection over the mid- and long term. The office predicted that the primary balance of the central and….Read more

Tokyo, Dec. 18 (Jiji Press)–The Japanese government plans to issue Japanese government bonds worth 236 trillion yen in fiscal 2021, Jiji Press learned Friday.   The issue amount, which represents a 1.5-fold jump from the initial issuance plan for the previous year, is equivalent to 40 pct of the country’s gross domestic product.   The amount was included in an….Read more

Tokyo, Oct. 28 (Jiji Press)–Japan’s Finance Ministry plans to end the use of “hanko” personal seals and signatures in documents required by the foreign exchange and trade control law, informed sources told Jiji Press Wednesday.     The use of hanko seals and signatures will be scrapped for 93 types of documents and reports, effective on Friday, the sources said.    ….Read more