CashNews.co Scandals are mounting at Nomura Holdings Inc., threatening to derail a turnaround plan at Japan’s biggest brokerage just as it’s beginning to bear fruit. Chief executive officer Kentaro Okuda and other top managers agreed on Thursday to take a pay cut after the firm admitted an employee manipulated the bond market, prompting several firms to stop […]
CashNews.co TOKYO — Japan’s Government Pension Investment Fund on Friday posted a July-September loss of 9.18 trillion yen ($60.1 billion), hurt by the yen’s sharp appreciation and a stock market downturn in August. The 3.57% loss was the worst since the quarter ended in March 2020, when the COVID-19 outbreak sent shock waves through financial […]
CashNews.co HONG KONG (AP) — European markets opened higher while Asian stocks were mostly lower on Friday, with Japan’s benchmark Nikkei losing over 2% after a sharp decline on Wall Street. France’s CAC 40 added 0.4% in early trading to 7,377.79, and Germany’s DAX gained 0.2% to 19,116.71. Britain’s FTSE 100 climbed 0.4% to 8,143.82. […]
CashNews.co By Yoshifumi Takemoto and Makiko Yamazaki TOKYO (Reuters) – Japan’s government on Friday lowered its GDP growth forecast for the current fiscal year as weaker exports drag on a fragile economic recovery. In its revised estimates, the Cabinet Office cut its inflation-adjusted gross domestic product growth forecast for the current fiscal year ending in […]
CashNews.co TOKYO (Reuters) – The Bank of Japan said on Friday the country’s rising minimum wage is likely to push up inflation mainly through higher services prices. Japan’s average minimum wage is set to rise a record 5.1% in the fiscal year to end-March 2025, with the increase particularly large for areas where the level […]
CashNews.co Hello Kitty, arguably Japan’s best loved creation, is celebrating her 50th anniversary. But all has not always been well at Sanrio, the Japanese company behind the character. The business has been on a spectacular journey of financial peaks and valleys. Hello Kitty has been ranked the second-highest grossing media franchise in the world behind […]
CashNews.co TOKYO — Japan’s Mizuho Financial Group is partnering with Saudi Arabia’s Public Investment Fund to create a Tokyo-listed exchange-traded fund featuring Saudi shares, providing retail investors easier access to a promising emerging market. Asset Management One, a joint venture between Mizuho and Dai-ichi Life Holdings, plans to create an ETF this fiscal year linked […]
CashNews.co TOKYO (Reuters) – Japan’s Finance Minister Katsunobu Kato reiterated on Tuesday that the authorities would be vigilant to foreign exchange moves, including those driven by speculators. “We will continue to closely monitor foreign exchange moves, including those driven by speculators, with a higher sense of vigilance,” Kato told a regular news conference. The yen […]
CashNews.co The Bank of Japan warned Thursday of “high uncertainties” following the ruling party’s worst election result in 15 years, as it kept interest rates unchanged. Prime Minister Shigeru Ishiba’s coalition lost its majority in Sunday’s snap vote, likely forcing him to head a minority government with support from other parties to pass legislation. Businesses […]
CashNews.co (Bloomberg) — Japan’s factory output picked up more than expected in September as car output recovered as the economy continued its sputtering recovery with policymakers watching developments with concern. Most Read from Bloomberg Industrial production gained 1.4% from August, led by cars and chemical product makers, the Industry Ministry reported on Thursday. That beat […]