ECONOMY

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ECONOMY

Japan average pump price logs 1st rise in 6 weeks

Tokyo, Aug. 10 (Jiji Press)–The average retail price of regular gasoline in Japan as of Monday rose 0.2 yen from a week earlier to 170.1 yen per liter, the first increase in six weeks, the industry ministry said Wednesday.   In the week through Wednesday, the ministry provided 37.7 yen per liter in subsidies to oil distributors, helping to push down the….Read more

  • August 10, 2022
  • , Jiji Press , 4:50 p.m.
  • English Press

ECONOMY > Finance

Japan govt debts hit record 1,255 t. yen

Tokyo, Aug. 10 (Jiji Press)–The balance of Japan’s central government debts hit a record high of 1,255,193.2 billion yen as of the end of June, the Finance Ministry said Wednesday.   The per capita amount is 10.05 million yen, based on the country’s estimated population of 124.84 million as of July 1.   The severe fiscal situation continues, reflecting massive….Read more

  • August 10, 2022
  • , Jiji Press , 8:34 p.m.
  • English Press

ECONOMY

3 major Japan automakers log profit falls in April-June; one in red

Tokyo, Aug. 10 (Jiji Press)–Three of seven major Japanese automakers logged operating profit falls in April-June, while one slipped into the red, according to the companies’ latest consolidated earnings reports released by Wednesday.   In the quarter, automakers were forced to curb production due to difficulties procuring parts against the backdrop of COVID-19 lockdown measures in China and prolonged semiconductor….Read more

  • August 10, 2022
  • , Jiji Press , 9:59 p.m.
  • English Press

INTERNATIONAL > Ukraine Crisis

Post of minister for economic cooperation with Russia remains intact under new cabinet

The post of minister for economic cooperation with Russia has been maintained under the second reshuffled cabinet of Prime Minister Kishida Fumio. Minister of Economy, Trade and Industry Nishimura Yasutoshi will serve in the post. After the government imposed sanctions on Russia in response to the country’s invasion of Ukraine in February, members of both the ruling and opposition camps….Read more

ECONOMY > Energy

JAPEX considers interests in Sakhalin-1 important

At an earnings report press conference on Aug. 9, Yamashita Michiro, senior managing executive officer at Japan Petroleum Exploration Co. (JAPEX), noted that the firm considers its holdings of interests in the Sakhalin-1 project through Sakhalin Oil and Gas Development Co. (SODECO) as “important to Japan and that we share the same understanding as the government.” His remarks indicate that….Read more

  • August 10, 2022
  • , Sankei , p. 5
  • JMH Translation

ECONOMY

Editorial: Economic 2+2 must respect rules of free trade

Japan and the United States have embarked on strengthening their partnership in the area of economic security. Following on the Japan-U.S. Security Consultative Committee, which brings together the foreign and defense ministers of the two countries, the two allies have created a forum for their respective economy and foreign ministers to consult periodically.   The Japan-U.S. Economic Policy Consultative Committee….Read more

POLITICS

Japan panel to propose allowing crypto assets to be confiscated

Tokyo, Aug. 9 (Jiji Press)–Japan’s Legislative Council is set to recommend that authorities be allowed to confiscate crypto assets illegally obtained by crime groups and others, it was learned Tuesday.     The advisory panel has drafted recommendations on revising the organized crime punishment law. It plans to finalize the recommendations and submit them to the justice minister in September.    ….Read more

  • August 9, 2022
  • , Jiji Press , 8:53 p.m.
  • English Press

ECONOMY > Economic Indicators

Think tanks put Japan April-June GDP growth at 2.7 pct

Tokyo, Aug. 9 (Jiji Press)–Japan’s real gross domestic product in April-June is estimated to have grown 0.7 pct from the previous quarter, or an annual rate of 2.7 pct, according to the average of projections released by Tuesday by 12 private think tanks.   The country’s GDP is believed to have risen for the first time in two quarters, reflecting….Read more

  • August 9, 2022
  • , Jiji Press , 9:57 p.m.
  • English Press

ECONOMY

Opinion: Pelosi’s visit to Taiwan fuels concern over China’s pressure on Japanese products

By Igata Akira, project lecturer at the Research Center for Advanced Science and Technology, the University of Tokyo   (Interviewed by Fukuda Naoyuki)   China does not want a military clash with the United States. But it is likely to frequently retaliate in the economic security area, cause confusion by spreading fake information, and launch cyberattacks to ensure that its….Read more

  • August 4, 2022
  • , Asahi , p. 7
  • JMH Translation

ECONOMY

Opinion: Pelosi’s visit to Taiwan may prompt China to retaliate against Japan by suspending rare metal exports

By Kanda Keiji, senior economist at the Daiwa Institute of Research   (Interviewed by Tokushima Shinya)   Escalation of the conflict between the United States and China would have a significant impact on the global economy. The level of the impact might be different from that arising from the Russian invasion of Ukraine.   Taiwan controls a large share of….Read more

  • August 4, 2022
  • , Asahi , p. 7
  • JMH Translation
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