CashNews.co Japan’s Financial Services Agency (FSA) is drafting new laws to prevent domestic assets from being transferred out of the country in case foreign crypto exchanges go under. The move is the latest lesson learned from past industry turmoil, such as the FTX collapse. The plan to amend the Japanese law on payment services will […]
CashNews.co TOKYO — Japan’s financial watchdog looks to put legal curbs in place to prevent foreign cryptocurrency exchanges from taking domestic assets overseas if they collapse, in an effort to protect retail investors. The Financial Services Agency aims to create an “asset retention order” under the legislation governing these exchanges, which would allow it to […]
CashNews.co TOKYO/WARSAW (Reuters) -The Japanese and Polish governments will on Thursday sign a memorandum of understanding on cooperation in nuclear energy, Poland’s industry ministry said. In a statement on social media platform X, the ministry said the outline agreement would include exchanging information and technological support. The Nikkei business daily first reported the deal would […]
CashNews.co TOKYO (AP) — Toyota’s July-September profit sank to less than half of what it was in the same period the previous year, as a production stoppage that followed a certification scandal and recalls dented vehicle sales, the Japanese automaker said Wednesday. Toyota Motor Corp.’s quarterly profit through September totaled 573.7 billion yen ($3.7 billion), […]
CashNews.co TOKYO (Reuters) – Japan’s service activity contracted in October on weaker sales, with business confidence slipping to the lowest level since March 2022 on concerns over shortage of labour, a private survey showed on Wednesday. The final au Jibun Bank Service purchasing managers’ index (PMI) dropped to 49.7 in October from 53.1 in September, […]
CashNews.co By Stephen Nellis (Reuters) – Tenstorrent, a Silicon Valley artificial intelligence chip startup founded by Apple and Intel veterans, said it had won a deal with the Japanese government to help train up to 200 Japanese chip designers at its U.S. offices over five years. The contract announced on Tuesday, under which $50 million […]
CashNews.co By Sam Nussey KITAKAMI, Japan (Reuters) – Bain Capital-backed Kioxia said on Tuesday it expects demand for flash memory to increase by about 2.7 times in the five years to 2028 on the back of the boom in artificial intelligence. The chipmaker, which was hammered by a downturn in the market for memory chips, […]
CashNews.co Japan Securities Finance Co (JP:8511) has released an update. Japan Securities Finance Co. reported a significant 32.8% increase in profit attributable to owners for the second quarter of FY2024, driven by gains from real estate and stock sales. Operating revenue also saw a healthy rise compared to the previous year. These preliminary results highlight […]
CashNews.co Matthews Japan Fund (Trades, Portfolio), a stalwart in Japanese equity investments, has recently disclosed its portfolio adjustments for the third quarter of 2024. Established on December 31, 1998, the fund is committed to long-term capital appreciation, focusing primarily on Japanese stocks. Employing a bottom-up, fundamental investment philosophy, Matthews Japan Fund (Trades, Portfolio) aims to […]
CashNews.co TOKYO — Japanese investment company Nikko Asset Management is making a full-fledge entry into private debt, a high-growth area in Asian finance that is drawing more Japanese players. Nikko Asset Management finalized a capital tie-up in June with French counterpart Tikehau Capital, which specializes in developing and selling private asset products. The sides will […]