News - Fri 13 Nov 2009
U.S. 'lost decade' scenario stimulating more debate
WASHINGTON (AP) Heavy government stimulus spending and near-zero interest rates did little to end a "lost decade" of stagnation and mushrooming debt in Japan. Some economists and lawmakers say the United States may wind up following the same trajectory. Despite early signs of recovery and a strong U.S. stock market rally, fears persist that the failure to generate new jobs or ignite more consumer spending could drag the economy back into recession or result in a protracted Japanlike period of poor economic and stock market performance.Views: 14
Toyota gets stuck with NUMMI closure costs
Toyota Motor Corp. may shoulder almost all the costs to shut its California joint venture plant as the owner of the former General Motors Corp.'s 50 percent stake doesn't plan to help out, including with worker severance pay. "Motors Liquidation is not contributing at all to NUMMI's closure costs," said Tim Yost, a spokesman for Motors Liquidation Corp., the Detroit-based entity that took over discarded assets from GM as part of the carmaker's bankruptcy reorganization. "We don't believe there will be a requirement for us to do so."Views: 20
Base issue is only a sideshow: U.S. expert
The recent tensions between Japan and the United States over the Okinawa base relocation issue are "overblown," and Tokyo and Washington should be focusing on the bigger picture of the future of bilateral relations, a leading U.S. foreign policy expert told a recent symposium. Tokyo and Washington - both under new administrations launched this year - are still "in the process of adjusting to new personalities with new agendas," said John Ikenberry, a professor at the Woodrow Wilson School of Public and International Affairs at Princeton University.Views: 19
Budget-cutting panel targets more projects
The land ministry's five community-building projects worth a combinedViews: 22
Nara to check schools' flag use on royalty day
The board of education in the city of Nara is planning a potentially contentious survey on whether schools displayed the Hinomaru national flag Thursday, the 20th anniversary of Emperor Akihito's enthronement. It was the only major board of education that clearly said in a recent questionnaire it is planning such a survey, which could be interpreted as pressuring schools to show the flag despite criticism that forcing its display would resemble the militaristic practices of the war.Views: 22
The end of a long manhunt
The arrest of Tatsuya Ichihashi, 30, on suspicion of abandoning the body of Ms. Lindsay Ann Hawker, a 22-year-old Briton who taught English, brought immense relief to the Hawker family, who fought relentlessly for justice in the murder case for more than 2 1/2 years. As the father, Mr. Bill Hawker, put it, "Our nightmare is finally over." For their part, the Chiba prefectural police must feel a sense of satisfaction that they finally got their man. After Ms. Hawker failed to return home after apparently meeting Ichihashi for an English lesson, the police sought to question him the night of March 26, 2007. He fled barefoot when he saw them and evaded arrest despite the presence of eight armed police officers. Ms. Hawker's body was then found on the balcony of his apartment.Views: 13
Tokyo Metro eyes merger with Toei
Subway operator Tokyo Metro Co. is in talks with the Tokyo Metropolitan Government on a possible merger with Toei subway, its president said. "We are discussing the matter with the Tokyo Metropolitan Government," Hisashi Umezaki told a news conference Wednesday. But he added that Toei subway needs to resolve his huge accumulating debt before a merger can take place.Views: 7
Beer shipments hit October low
Shipments of beer and beerlike alcoholic beverages in Japan fell 4.3 percent to 37.98 million cases in October, setting a record low for the month, industry reports said Thursday. The number was the lowest for any October since 1992, when breweries began compiling comparable data. One case contains 20 633-ml bottles.Views: 29
Ex-Corinthian exec held in Goodwill tax dodge
Prosecutors on Thursday arrested a businessman on suspicion of evading corporate taxes on the profit when major temp staffing agency Goodwill Group Inc., now known as Radia Holdings Inc., took over another staffing agency. The suspect was identified as Kazutaka Kito, 35, a former executive of the Tokyo-based investment firm Corinthian Partners.Views: 30
Producer prices fell 6.7% in October
Producer prices fell for the 10th straight month in October, underscoring the risk that deflation could undermine the economic recovery. The costs that companies pay for energy and unfinished goods tumbled 6.7 percent from a year earlier after sliding a revised 8 percent in September, the Bank of Japan said Thursday. The median estimate in a survey of 23 economists was for a 6 percent drop.Views: 14
Hatoyama, Obama to express support for alliance, Afghanistan
Prime Minister Yukio Hatoyama and U.S. President Barack Obama are set to affirm a strengthening of the bilateral alliance when they meet Friday, with support for Afghan reconstruction also topping the agenda. As Tokyo's ongoing review of a bilateral deal to relocate the U.S. Marine Corps Air Station Futenma within Okinawa casts a shadow over bilateral relations, the relocation issue is expected to take a back seat at the summit.Views: 17
Princes hold key: Emperor
It is necessary to take note of the views of Crown Prince Naruhito and Prince Akishino in deciding on the future of the Imperial family, Emperor Akihito said last week prior to a state-sponsored ceremony Thursday commemorating the 20th anniversary of his coronation. "I think it is important that the views of the Crown Prince and Prince Akishino, who supports him, are respected" concerning the ideal role of the family in the future, the 75-year-old Emperor Akihito told a Nov. 6 news conference, which, held in advance of Thursday's anniversary, had been embargoed.Views: 10
Obama's Asian occasions
HONOLULU, EAST-WEST WIRE - This week Barack Obama begins his first trip to Asia as U.S. head of state. His visit to Singapore for the annual Asia-Pacific Economic Cooperation meeting plus additional stops in Japan, China and South Korea offer an opportunity for the president to give further dynamism to America's relationships with this vital part of the world. In visiting Asia, Obama has many assets to draw upon. Although his adult experience in Asia is relatively limited, he is the first U.S. president to have actually lived in the region and to have a genuine Asia-Pacific orientation from his earliest years. He is widely popular in the region, especially his boyhood home of Indonesia, where according to the Pew Global Attitudes Project, positive images of the United States climbed to 63 percent in 2009 from 37 percent last year.Views: 14
Highlighting the return to a neglected region
HONG KONG - U.S. President Barack Obama plans to include the prime minister of Myanmar (aka Burma), a country long shunned by Washington, when he meets this week with leaders of the 10-member Association of Southeast Asian Nations (ASEAN). While in Singapore - part of his first visit to Southeast Asia since becoming U.S. president in January - he also will attend a meeting of the Asia-Pacific Economic Cooperation (APEC) group, with the aim of confirming the new direction of U.S. foreign policy.Views: 10
Emperor marks 20th year of reign
Emperor Akihito on Thursday voiced his deep anticipation for global peace, saying new generations must not forget the sacrifices made during the war. "Sixty-four years have passed since the war ended, and three out of every four Japanese now were born after the war," the Emperor said at a ceremony in Tokyo to celebrate the 20th anniversary of his coronation.Views: 8
Hong Kong to keep currency pegged to 'predictable' greenback
Despite the recent weakening of the dollar against other currencies, Hong Kong will keep its currency pegged to the greenback and will not consider linking it to the Chinese yuan, the Hong Kong financial and treasury secretary said Wednesday. "I think that is really a source of security to the Hong Kong financial market," K.C. Chan said.Views: 21
FamilyMart, Itochu close to am/pm deal
Convenience store chain FamilyMart Co. and its top shareholder, Itochu Corp., are in the final stages of negotiations over acquiring smaller rival am/pm Japan Co., sources said Thursday. The deal would give No. 3 FamilyMart and No. 7 am/pm Japan a combined 8,700 stores in Japan, compared with about 9,700 for second-ranked Lawson Inc. Industry leader Seven-Eleven Japan Co. has nearly 12,500 outlets.Views: 13
Turbulent climate talks
Clouds are hanging over current negotiations leading up to the 15th, 192-nation U.N. Climate Change Conference scheduled to be held in Copenhagen Dec. 7-18 for the purpose of adopting a global framework for curbing greenhouse gas emissions from 2013. The Kyoto Protocol now in effect will expire in 2012. There is a schism between developed and developing countries over specific responsibility for greenhouse-gas emission cuts and technological transfers and financial aid to developing countries to help them curb emissions. Developing countries are calling on developed countries to commit themselves to deep cuts in carbon dioxide emissions.Views: 14
Cops hand Ichihashi over to prosecutors
CHIBA (Kyodo) Tatsuya Ichihashi, suspected in the murder of English teacher Lindsay Ann Hawker, was sent to prosecutors Thursday. Ichihashi, 30, was turned over to the Chiba District Public Prosecutor's Office by Gyotoku Police Station in Ichikawa, Chiba Prefecture, technically on suspicion of abandoning Hawker's body in a sand-filled bathtub on the balcony of his Ichikawa apartment in March 2007.Views: 17
AMR, equity firm to match offer to JAL
American Airlines may team with private-equity firm TPG Inc. to invest at least $300 million in alliance partner Japan Airlines Corp., a source familiar with the plan said. That sum would be competitive with a proposed investment in JAL by Delta Air Lines Inc., said the source, who declined to be identified because the talks aren't public. Delta, a member of the SkyTeam group of airlines, wants to lure money-losing JAL from American's oneworld group.Views: 18
Luxury a poor fit in today's Japan
Akiko Sayama re-examined her spending habits when the Tokyo staffing agency where she works cut its overtime budget. She lost aroundViews: 25
Young unemployed taste life in corporate fast lane
A group of unemployed young people participated Thursday in a one-day job-hunt support program in Tokyo organized by JPMorgan and Sodateage-Net, a Tokyo-based nonprofit organization. The number of jobless young people categorized as NEETs, or "not in employment, education or training," has been growing amid the recession.Views: 7
Japan-U.S. ties 'most contentious' since 1990s: NY Times
Washington's relations with Japan are ''at their most contentious'' since the trade wars of the 1990s, the New York Times reported Thursday ahead of President Barack Obama's visit to Japan. Since the Democratic Party of Japan came to power in September, some American officials expressed fears that the blunt criticism that the administration of Prime Minister Yukio Hatoyama had directed at the United States during the political campaign would translate to ''a more contentious relationship,'' the newspaper said.Views: 29
Obama leaves for Tokyo, 1st leg of his Asian tour
U.S. President Barack Obama left here for Tokyo on Thursday morning, kicking off his tour to Asia. Obama will arrive in Tokyo on Friday afternoon where he is set to hold talks with Japanese Prime Minister Yukio Hatoyama.Views: 16
Obama hopes to finish Futemma relocation talks 'expeditiously'
U.S. President Barack Obama expressed hope Friday to reach a conclusion 'expeditiously' on the disputed relocation of a major U.S. military airfield in Okinawa Prefecture through a new ministerial-level bilateral working group. Obama made the remarks at a joint news conference after a summit with Japanese Prime Minister Yukio Hatoyama at the Japanese leader's office.Views: 21
Obama hopes to finish Futemma relocation talks 'expeditiously'
U.S. President Barack Obama expressed hope Friday of reaching a conclusion ''expeditiously'' on the disputed relocation of a major U.S. military airfield in Okinawa Prefecture through a new ministerial-level bilateral working group. ''The United States and Japan set up a high-level working group...We hope to complete this work expeditiously,'' Obama said at a joint news conference with Japanese Prime Minister Yukio Hatoyama after their summit.Views: 17
Obama arrives in Tokyo for talks with Hatoyama
U.S. President Barack Obama arrived in Tokyo on Friday for talks with Japanese Prime Minister Yukio Hatoyama to reaffirm the importance of the bilateral alliance. Obama arrived at Tokyo's Haneda airport on the Air Force One presidential airplane for his first visit to Japan since assuming office in January.Views: 22
JAL's half-year earnings 'extremely severe': transport minister
Transport minister Seiji Maehara said Friday that struggling Japan Airlines Corp. is likely to report ''extremely severe'' earnings results for the April to September period of the current business year. Maehara said he was briefed about the figures by JAL President Haruka Nishimatsu earlier in the week. The company is scheduled to announce the results later Friday. ==KyodoViews: 18
JAL to apply for debt restructuring scheme Friday: transport minister
Transport minister Seiji Maehara confirmed Friday that struggling Japan Airlines Corp. will apply for an out-of-court debt restructuring scheme as a stopgap measure to prevent an imminent cash shortage and remain operational in the months ahead. Maehara also said he was briefed about JAL's earnings results for the April to September period by President Haruka Nishimatsu on Wednesday, and added the figures are expected to be ''extremely severe.''Views: 28
Tokyo stocks fall on Wall St. losses, weaker yen lifts exporters
Tokyo stocks opened lower Friday, with losses on Wall Street overnight dampening sentiment. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average lost 25.96 points, or 0.26 percent, from Thursday to 9,778.53. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 2.07 points, or 0.24 percent, to 865.63. The Second Section also lost ground.Views: 11
Tokyo stocks down on Wall St. decline, losses in resource shares
Tokyo stocks fell Friday morning, with losses on Wall Street overnight dampening sentiment and lower commodity prices sending resource-related shares down. The 225-issue Nikkei Stock Average lost 52.36 points, or 0.53 percent, from Thursday to 9,752.13 after briefly touching positive territory. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 1.70 points, or 0.20 percent, to 866.00.Views: 25
Tokyo stocks down on Wall St. decline, losses in resource shares
Tokyo stocks fell Friday morning, with losses on Wall Street overnight dampening sentiment and lower commodity prices sending resource-related shares down. After briefly touching positive territory, the 225-issue Nikkei Stock Average lost 52.36 points, or 0.53 percent, from Thursday to 9,752.13. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 1.70 points, or 0.20 percent, to 866.00.Views: 20
Tokyo stocks fall in choppy trading, await bank earnings
Tokyo stocks fell Friday as trading see-sawed between losses in resource-linked shares on lower commodity prices and futures-led buybacks, while investors awaited a slew of major banks' interim earnings after the market's close. The 225-issue Nikkei Stock Average lost 34.18 points, or 0.35 percent, from Thursday to 9,770.31, the lowest close in a week. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 0.90 point, or 0.10 percent, to 866.80, the lowest close since July 15.Views: 18
Tokyo stocks fall in choppy trade, await bank earnings
Tokyo stocks fell Friday as trade see-sawed between losses in resource-linked shares on lower commodity prices and futures-led buybacks, while investors awaited a slew of major banks' interim earnings after the market closes. The 225-issue Nikkei Stock Average lost 34.18 points, or 0.35 percent, from Thursday to 9,770.31, the lowest close in a week. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 0.90 point, or 0.10 percent, to 866.80.Views: 24
Nepal's Maoists continue to blockade principal gov't secretariat
Thousands of Nepal's Maoist former rebels surrounded the principal government secretariat in Kathmandu for a second day Friday, demanding a debate on presidential authority and formation of a new government under their leadership. Maoist supporters gathered at eight roads leading to the secretariat, called Singha Durbar, from 8 a.m. and started singing, dancing and sloganeering as they had Thursday.Views: 7
Key 10-year JGB yield falls to 4-week low on eased supply concerns
The yield on the benchmark 10-year Japanese government bond fell Friday to a four-week closing low as a smooth five-year bond auction the previous day soothed jitters about oversupply in the bond market. The yield of the No. 303, 1.4 percent issue, a key indicator of long-term interest rates, briefly hit 1.330 percent before ending interdealer trading down 0.035 percentage point from Thursday's close to 1.335 percent, the lowest benchmark yield since Oct. 19.Views: 18
Key 10-year JGB yield falls in morning to 1-month intraday low
The yield on the benchmark 10-year Japanese government bond fell Friday morning, briefly hitting a one-month intraday low, as a smooth five-year bond auction the previous day soothed jitters about oversupply in the bond market. The yield on the No. 303, 1.4 percent issue, a key indicator of long-term interest rates, ended morning interdealer trading down 0.030 percentage point from Thursday's close to 1.340 percent after briefly touching 1.330 percent.Views: 21
U.S. expects Okinawa base issue will come up at Tokyo summit
The White House said Thursday it expects that a row over relocating a key U.S. military airfield in Okinawa Prefecture will be addressed at Friday's summit between U.S. President Barack Obama and Japanese Prime Minister Yukio Hatoyama. ''I anticipate that will come up, too,'' White House Press Secretary Robert Gibbs said aboard the Air Force One presidential airplane en route to Tokyo.Views: 16
U.S. welcomes Japan's new aid plan for Afghanistan
The United States has welcomed Japan's new plan to extend up to $5 billion in civilian aid to Afghanistan over five years beginning this year in an effort to combat terrorism. ''We welcome the announcement by the government of Japan to provide approximately $5 billion over the next five years to Afghanistan,'' White House Press Secretary Robert Gibbs said in a statement Wednesday.Views: 28
Relocation plan for U.S. Marine Corps' Futemma Air Station
The U.S. Marine Corps' Futemma Air Station was built in 1945 in the city of Ginowan, Okinawa Prefecture, after the U.S. military's condemnation of land and has been used by the Marines since 1960. On the heels of the 1995 rape of a local schoolgirl by U.S. servicemen in Okinawa, Japan and the United States agreed the following year that the airfield, which sits in the center of a residential area of Ginowan, should be returned to Japan within five to seven years.Views: 12
Dollar trades at lower 90 yen level in early Tokyo deals
The U.S. dollar traded at the lower 90 yen level early Friday in Tokyo, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 90.28-29 versus 90.30-40 yen in New York and 89.80-81 yen in Tokyo at 5 p.m. Thursday.Views: 23
Dollar trades at lower 90 yen level in early Tokyo deals
The U.S. dollar traded at the lower 90 yen level early Friday in Tokyo, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 90.28-29 versus 90.30-40 yen in New York and 89.80-81 yen in Tokyo at 5 p.m. Thursday.Views: 18
Dollar stays in lower 90 yen zone after stock, commodities prices fall
The U.S. dollar steadied in the lower 90 yen zone in quiet Tokyo trading Friday as investors took a break from buying higher-yielding assets after a fall in commodities and stock prices. At 5 p.m., the dollar fetched 90.28-30 yen versus Thursday's 5 p.m. quotes of 90.30-40 yen in New York and 89.80-81 yen in TokyoViews: 16
Dollar firm at lower 90 yen level in Tokyo on buying
The U.S. dollar remained firm at the lower 90 yen level Friday morning in Tokyo as investors bought it after its recent falls, but its upside was limited amid a lack of fresh trading incentives. At noon, the dollar fetched 90.21-24 versus 90.30-40 yen in New York and 89.80-81 yen in Tokyo at 5 p.m. Thursday.Views: 11
September U.S. trade deficit up 18.2% to $36.47 bil.
The U.S. deficit in global goods and services trade in September rose to $36.47 billion, up 18.2 percent from the previous month, the Commerce Department said Friday. ==KyodoViews: 19
U.S. to attend summit on banning mines for 1st time in 10 yrs
The U.S. administration of President Barack Obama will send a representative to the Second Review Conference of the Mine Ban Treaty, the first time the United States will officially participate in such discussion, a nongovernmental organization official said Thursday. ''The United States has registered to attend the Cartagena summit,'' said Stephen Goose, the head of the International Campaign to Ban Landmines delegation and director of the arms control division at Human Rights Watch.Views: 11
Rate of repeat crimes record high last year
The rate of repeat crimes among offenders marked a record high of 41.5 percent last year, the Justice Ministry said in a white paper on crime released Friday. Meanwhile, the number of overall Penal Code offenses, excluding automobile-related crimes, remains on a downward trend, falling for the sixth consecutive year last year to 1.82 million cases, down 4.8 percent.Views: 11
APEC summit eyes growth after crisis with Japan deepening commitment
The leaders of the Asia-Pacific Economic Cooperation forum will gather Saturday for a two-day summit to discuss economic growth in the region after the global financial crisis and strengthening cooperation, including economic integration. At the summit in Singapore, Japanese Prime Minister Yukio Hatoyama is expected to announce a plan to lead in developing a comprehensive growth strategy for the 21-member forum before Japan hosts a series of APEC meetings next year.Views: 29
No decision on 2nd extra budget until December: Fujii
The government is keeping close tabs on next week's release of Japan's gross domestic product data in deciding whether to draw up a second extra budget for the current fiscal year, but a final decision on the matter will not be possible before next month, Finance Minister Hirohisa Fujii said Friday. ''How the third quarter GDP data would turn out will be one important barometer'' in determining whether to have a second extra budget or how big its size should be, Fujii said at a news conference.Views: 21
Gist of Japan-U.S. joint statement toward nuke-free world
The following is the gist of the ''Japan-U.S. Joint Statement towards a World without Nuclear Weapons,'' released Friday after talks between Prime Minister Yukio Hatoyama and President Barack Obama. Japan and the United States:Views: 17
Gist of Japan-U.S. joint message on climate change
The following is the gist of the ''Japan-U.S. Joint Message on Climate Change Negotiations'' issued Friday after talks between Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama in Tokyo. Japan and the United States:Views: 29
Gist of talks between Hatoyama, Obama
The following is the gist of talks Friday in Tokyo between Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama. Hatoyama and Obama agreed:Views: 15
Gist of Japan-U.S. agreement on cooperation in clean energy technology
The following is the gist of areas included in an agreement in which Japan and the United States will cooperate to promote clean energy technologies based on talks between Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama in Tokyo Friday. Japan and the United States will:Views: 24
Chronology of key events related to Futemma U.S. base in Okinawa
The following is a chronology of major events related to a Japan-U.S. accord signed in 2006 to relocate the U.S. Marine Corps' Futemma Air Station in Ginowan, Okinawa Prefecture, to Nago, another Okinawa city. Sept. 1995 -- A local schoolgirl is gang-raped by three U.S. servicemen in northern Okinawa, fueling anger among local residents opposed to U.S. military bases.Views: 25
Ichihashi continues not to eat as 10-day detention approved
The Chiba District Court approved prosecutors' request Friday to detain Tatsuya Ichihashi, who has been arrested in connection with the 2007 murder of 22-year-old English language teacher Lindsay Hawker, for 10 days until Nov. 22. Ichihashi, who was arrested Tuesday in Osaka after spending two-and-a-half years as a fugitive, has remained silent about the British woman whose body was found in his apartment, investigative sources said.Views: 12
JAL incurs net loss of 131.2 bil. yen in April-Sept.
Struggling Japan Airlines Corp. said Friday it incurred a net loss of 131.22 billion yen in the April-September period, against a year-earlier profit of 36.67 billion yen, with travel demand crippled by the global economic downturn and the spread of the new influenza. Japan's top airline also booked a group operating loss of 95.79 billion yen for the first six months of the current business year, compared with a profit of 30.23 billion yen in the previous year, on revenues of 763.95 billion yen, down 28.8 percent.Views: 11
JAL incurs net loss of 131.2 bil. yen in April-Sept. period
Struggling Japan Airlines Corp. said Friday it incurred a net loss of 131.22 billion yen for the April-September period, against a year-earlier profit of 36.67 billion yen, with travel demand crippled by the global economic downturn and the spread of the new influenza. Japan's top airline, which has been seeking a turnaround under state supervision, also booked a group operating loss of 95.79 billion yen for the first six months of the current business year, compared with a profit of 30.23 billion yen the previous year, on revenues of 763.95 billion yen, down 28.8 percent.Views: 14
JAL incurs net loss of 131.2 bil. yen in April-Sept. period
Struggling Japan Airlines Corp. said Friday it incurred a net loss of 131.22 billion yen for the April-September period, against a year-earlier profit of 36.67 billion yen, with travel demand crippled by the global economic downturn and the spread of the new influenza. Japan's top airline, which has been seeking a turnaround under state supervision, also booked a group operating loss of 95.79 billion yen for the first six months of the current business year, compared with a profit of 30.23 billion yen the previous year, on revenues of 763.95 billion yen, down 28.8 percent. ==KyodoViews: 21
JAL applies for out-of-court debt restructuring after half-year loss
Struggling Japan Airlines Corp. said Friday it has applied for an out-of-court debt restructuring process as a stopgap measure to remain operational after booking heavy losses for the first half of the business year. Japan's top airline, which is seeking a turnaround under state supervision, incurred a hefty group net loss of 131.22 billion yen for the April to September period, against a year-earlier profit of 36.67 billion yen.Views: 28
JAL seeks debt suspension, bridge loans after heavy half-year loss
Struggling Japan Airlines Corp. said Friday it has applied for an out-of-court debt restructuring process and bridge loans from creditor banks as stopgap measures to remain operational after booking heavy losses for the first half of the business year. Japan's top airline, which is seeking a turnaround under state supervision, incurred a hefty group net loss of 131.22 billion yen for the April-September period, against a year-earlier profit of 36.67 billion yen, with travel demand crippled by the global economic downturn and the spread of the new influenza.Views: 15
Cash-strapped Japan Airlines to apply for bridge loans from gov't
Struggling Japan Airlines Corp. plans to file an application with the government on Friday for bridge loans to remain operational in the coming months, sources familiar with the matter said Thursday. The company will likely receive the loans from the state-owned Development Bank of Japan as it waits for a decision for long-term financial aid from a state-backed corporate turnaround body, the sources said.Views: 27
JAL says likely to receive bridge loans by late November
Struggling Japan Airlines Corp. has already applied for bridge loans from creditor banks and will likely receive them by late November, Yoshimasa Kanayama, the company's executive officer in charge of finance, said Friday. Kanayama did not disclose the amount of short-term financing sought, but added that financial institutions have already expressed their willingness to extend support. ==KyodoViews: 13
S&P lowers rating for JAL by 2 notches
Standard & Poor's Ratings Services said Friday it has lowered its longer-term corporate credit ratings for struggling Japan Airlines Corp. and JAL's core wholly owned subsidiary Japan Airlines International Co. by two notches to CC from CCC. The downgrade to the highly vulnerable grade follows JAL's application for ''alternative dispute resolution'' procedures, S&P said, adding that the acceptance of the application has increased the possibility of a breach of the terms and conditions of the debt payment agreements.Views: 10
Japanese editorial excerpts -4-: Ryukyu Shimpo
Selected editorial excerpts from the Japanese press: IT'S TIME FOR ''CHANGE FOR THE BASES IN OKINAWA (The Ryukyu Shimpo, special English version published on the Okinawa-based Japanese-language daily)Views: 5
Death sought for suspect in Ibaraki stabbing spree
Prosecutors sought Friday the death sentence for a man indicted for the deadly stabbings in Tsuchiura, Ibaraki Prefecture, that left two people dead and seven others injured. In the trial at the Mito District Court, prosecutors said Masahiro Kanazawa, 26, ''wanted to end his boring days.'' He wanted to die so he decided to go on the stabbing spree at Arakawaoki Station in March 2008, thinking that he would get the death sentence.Views: 16
Death sought for suspect in Ibaraki stabbing spree
Prosecutors sought Friday the death sentence for a man indicted for deadly stabbings in Tsuchiura, Ibaraki Prefecture, that left two people dead and seven others injured. At the Mito District Court, the prosecutors said Masahiro Kanazawa, 26, ''wanted to end his boring days'' with the death sentence he thought he would get by going on the stabbing spree at Arakawaoki Station in March 2008.Views: 12
Hatoyama hopes Obama will visit Hiroshima, Nagasaki
Prime Minister Yukio Hatoyama on Friday conveyed his hope that U.S. President Barack Obama will travel to Hiroshima and Nagasaki, the two cities that suffered U.S. atomic bombings during World War II. Hatoyama was quoted by a Japanese official as telling Obama during their summit meeting that he hopes the president will visit the cities as there are high expectations among Japanese people for him to do so.Views: 19
Hatoyama invited to leaders' meeting at Copenhagen climate talks
Prime Minister Yukio Hatoyama has been officially invited to a leaders' meeting to be held on the final day of a key U.N. climate conference slated for Dec. 7 to 18 in Copenhagen, Environment Minister Sakihito Ozawa said Friday. The prime minister intends to attend the summit at the climate talks, in which U.S. President Barack Obama may also take part, Ozawa said. The climate conference hosted by the Danish government is expected to produce a political deal on a new framework to combat global warming after the 1997 Kyoto Protocol expires in 2012.Views: 15
Obama to host forum in Dec. to create jobs, shore up economy
President Barack Obama said Thursday he will host a high-level forum at the White House in December to help create jobs and get the economy rolling again. Meeting with the media at the White House before departing for an Asian trip, Obama said CEOs, small business owners, economists and financial experts as well as representatives from labor unions and nonprofit groups will be invited to attend the forum.Views: 21
Man extradited from China, arrested by Kanagawa police
Police said Thursday they arrested a 34-year-old man who had been hiding in China after being placed on the wanted list for a 1999 robbery case in Yokohama. Chinese authorities handed over Masao Fujie in the first extradition from China to Japan through diplomatic channels, according to the Kanagawa prefectural police.Views: 9
Nissan, Miyazaki Pref. agree to promote electric vehicles
Nissan Motor Co. and the Miyazaki prefectural government agreed Friday to cooperate in promoting electric vehicles through such means as creating a network of charging stations. The accord was signed by Nissan Chief Operating Officer Toshiyuki Shiga and Miyazaki Gov. Hideo Higashikokubaru at the Japanese automaker's head office in Yokohama.Views: 8
N.Y. gold futures end lower for 1st time in 9 days
New York gold futures ended lower Thursday for the first time in nine trading days in line with the dollar's appreciation against other key currencies. The most-active gold contract for December delivery hit a new all-time high of $1,123.40 an ounce before regular trading began on the New York Mercantile Exchange's Comex division, reflecting expectations that traders will continue to shift their funds into safe-haven assets amid a falling dollar.Views: 21
Poverty rate among single-parent families at 54% in 2007
More than half the single-parent families in Japan were living in relative poverty in 2007, substantially higher than 10.2 percent for families with more than one adult, the welfare ministry said Friday. The rate of households with less than half the disposable income of a median family was 54.3 percent for single-parent families, it said, looking more closely at the issue of poverty in Japan after releasing last month the first official relative poverty rate for individuals at 15.7 percent.Views: 25
Mizuho Financial's net profit falls 7.1% in 1st half of FY 2009
Mizuho Financial Group Inc. said Friday its group net profit for the April-September period fell 7.1 percent from a year earlier to 87.81 billion yen with its revenues down 21.9 percent to 1.49 trillion yen. For the whole of fiscal 2009 ending next March, Japan's second-largest bank by assets maintained its projection of a net profit of 200 billion yen, against a loss of 588.81 billion yen logged a year earlier.Views: 25
Hatoyama, Obama to vow stronger ties, cooperation on climate change
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama will meet in Tokyo on Friday evening to affirm a strengthening of the bilateral alliance as next year marks the 50th anniversary of the revision of the bilateral security treaty. The two leaders are expected to issue joint documents after the talks in which Japan and the United States will vow to cooperate in the energy field, measures to combat global warming, and efforts to realize a nuclear-free world.Views: 17
Hatoyama, Obama to vow stronger ties, cooperation on climate change
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama will meet in Tokyo on Friday evening to affirm a strengthening of the bilateral alliance and agree to work together on the environment, including climate change, and a nuclear-free world. As Tokyo's ongoing review of a bilateral deal to relocate a U.S. Marine Corps base within Okinawa Prefecture threatens to cloud Japan-U.S. relations, the issue of the realignment of U.S. forces in Japan is expected to take a backseat during the talks.Views: 19
Japan, U.S. to agree to help poorest nations fight climate change
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama will agree on Friday to closely work together to help the least-developed and most vulnerable countries address climate change problems, a draft joint declaration showed Thursday. But major developing countries such as rapidly growing China will not be subject to the assistance, and the draft message on climate change, to be issued following the summit talks in Tokyo, calls on the countries to take concrete actions to drastically cut greenhouse gas emissions.Views: 14
Japan, U.S. reaffirm 80% emissions cut by 2050, aid for poor nations
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama reaffirmed during their summit talks Friday that they will aspire to cut their emissions by 80 percent by 2050 and support efforts by ''the poor and most vulnerable'' nations to combat climate change. In a ''joint message on climate change negotiations,'' the two leaders agreed that it is ''vital that we achieve a successful outcome'' at a key U.N. climate conference slated for Dec. 7-18 in Copenhagen, which is designed to produce a deal on a new framework on fighting global warming.Views: 28
Hatoyama, Obama meet, to vow stronger ties, cooperation on climate change
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama held talks in Tokyo on Friday to affirm a strengthening of the bilateral alliance as next year marks the 50th anniversary of the revision of the bilateral security treaty. The two leaders are expected to issue joint documents after the talks in which Japan and the United States will vow to cooperate in the energy field, measures to tackle climate change, and efforts to realize a nuclear-free world.Views: 29
Hatoyama, Obama vow stronger ties, cooperation on climate change
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama agreed Friday to further develop the bilateral alliance and to make efforts for the success of a key climate change conference to be held in Copenhagen next month At a joint news conference after their meeting in Tokyo, Hatoyama also said that he told Obama during the talks of Japan's new $5 billion civilian aid for Afghanistan as an alternative to Tokyo's Indian Ocean refueling mission in support of U.S.-led antiterrorism efforts in the country.Views: 10
Hatoyama, Obama agree to enhance Japan-U.S. alliance
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama agreed Friday to further develop the alliance between the two countries, Hatoyama said after their meeting in Tokyo on Friday. Hatoyama also said that he told Obama during the talks of Japan's new $5 billion civilian aid for Afghanistan and that the two leaders agreed on efforts for the success of a key climate change conference to be held in Copenhagen next month. ==KyodoViews: 21
Japan, U.S. aiming for successful Copenhagen climate talks
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama agreed Friday to cooperate for a successful outcome at a key U.N. climate conference in Copenhagen next month, which is designed to produce a deal on a new framework to fight global warming. ''We discussed how we can work together to pave the way for a successful outcome in Copenhagen next month,'' Obama told a joint press conference with Hatoyama.Views: 27
Hatoyama, Obama agree to seek speedy settlement on U.S. base issue
Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama agreed Friday that the two countries will seek to expeditiously reach a conclusion on the thorny issue of where to relocate a major U.S. military airfield in Japan's Okinawa, the two leaders said after their summit meeting in Tokyo. They also stressed during a joint press conference that their talks were successful and meaningful, apparently hoping to avoid the perception of a rift on the issue of the U.S. Marine Corps' Futemma Air Station.Views: 11
Japan's Sept. industrial output revised up to 2.1% rise
Japan's industrial output in September climbed a seasonally adjusted 2.1 percent from the previous month, the government said Friday, revising the figure upward from the earlier reported 1.4 percent rise due partly to robust growth in automobile and electric machinery industries. The index of production at mines and factories came to 85.7 against the base of 100 for 2005, the Ministry of Economy, Trade and Industry said.Views: 26
Japan's Sept. industrial output revised up to 2.1% rise
Japan's industrial output in September climbed a seasonally adjusted 2.1 percent from the previous month, the government said Friday, revising the figure upward from the earlier reported 1.4 percent rise due partly to growth in plastic product and textile industries. The index of production at mines and factories came to 85.7 against the base of 100 for 2005, the Ministry of Economy, Trade and Industry said.Views: 10
Oct. consumer sentiment index flat from previous month
Japan's consumer sentiment index remained flat in October from the previous month after rising nine months in a row, the government said Friday. The index of confidence among households made up of two or more people stood at 40.5, unchanged from September, the Cabinet Office said. The gauge remained below the threshold of 50, suggesting that pessimists outnumbered optimists.Views: 15
Consumer sentiment stops improving in Oct., assessment cut
Japan's consumer sentiment index remained flat in October from the previous month after rising nine months in a row, prompting the government to downgrade its economic assessment for the first time in 23 months, the Cabinet Office said Friday. The office said in its basic assessment, ''Movements suggesting a pickup are becoming moderate,'' revised downward from the phrase adopted in the previous month report that such movements ''are continuing.''Views: 20
Japan, U.S. to cooperate on smart power grids
Japan and the United States will cooperate in developing smart power grids that save excess clean energy and release it when needed, a draft of a joint agreement to be issued following the meeting of Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama showed Thursday. The two countries will aim to make such a system an international standard.Views: 18
Japan, U.S. agree to enhance cooperation on green energy technology
Japan and the United States agreed Friday to enhance their cooperation on the development of more environmentally friendly technologies as part of efforts to address climate change and generate new sources of growth, government officials said. Prime Minister Yukio Hatoyama and U.S. President Barack Obama agreed in Tokyo that the two countries will work more closely in areas such as 'smart' power grid systems, renewable energy, nuclear power, and carbon capture and storage, the officials said.Views: 9
Japan, U.S. agree to enhance cooperation on green energy technology
Japan and the United States agreed Friday to enhance their cooperation on the development of more environmentally friendly technologies as part of efforts to address climate change and generate new sources of growth, government officials said. Prime Minister Yukio Hatoyama and U.S. President Barack Obama agreed in Tokyo that the two countries will work more closely in areas such as 'smart' power grid systems, renewable energy, nuclear power, and carbon capture and storage, the officials said.Views: 9
Hatoyama, Obama to work closely toward nuke-free world
Japan and the United States agreed Friday that they will coordinate their efforts to realize ''a world without nuclear weapons'' and toward that end, they will urge nuclear states to reduce the role of nuclear weapons in their security strategies. The agreements were included in a joint statement issued after a summit meeting in Tokyo between Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama.Views: 14
Hatoyama, Obama to work closely toward nuke-free world
Japan and the United States agreed Friday that they will coordinate their efforts to realize ''a world without nuclear weapons'' and toward that end, they will urge nuclear states to reduce the role of nuclear weapons in their security strategies. The agreements were included in a joint statement issued after a summit meeting in Tokyo between Japanese Prime Minister Yukio Hatoyama and U.S. President Barack Obama, who arrived in Japan earlier in the day and is set to leave for Singapore on Saturday afternoon.Views: 26
JAL announces application for out-of-court restructuring scheme
Japan Airlines Corp. said Friday it applied for an out-of-court restructuring scheme that would allow for temporary suspension of its debt repayments to facilitate the turnaround of the cash-strapped airline. Under the process called ''alternative dispute resolution,'' a noncourt third-party will act as an intermediary between JAL and its creditors and make it easier for the company to receive loans or debt cancellation. ==KyodoViews: 28
Continuation of alliance with American Airlines 'natural': JAL chief
Japan Airlines Corp. President Haruka Nishimatsu said Friday the continuation of the carrier's alliance ties with American Airlines, a unit of AMR Corp., is ''natural'' in view of the costs of withdrawing from the oneworld grouping. Delta Air Lines Inc. has been courting JAL to switch to the rival SkyTeam alliance, but Nishimatsu said a final decision has not been made yet. ==KyodoViews: 22
JAL to reach decision on alliance tie-up by year-end: president
Japan Airlines Corp. President Haruka Nishimatsu said Friday that the company needs to make an ''urgent decision'' by the end of the year on capital tie-up talks with foreign air carriers. Japan's top airline has been in separate talks with two of the world's biggest air carriers -- Delta Air Lines Inc. and American Airlines, a unit of AMR Corp. -- to receive capital investment as it seeks to turn itself around under state supervision.Views: 24
JAL chief says management to stay until turnaround plan is compiled
Japan Airlines Corp. President Haruka Nishimatsu said Friday its current management will stay until the company can put together a turnaround plan and outline a road map for its feasibility. ''We feel very great responsibility,'' Nishimatsu told reporters, saying he will clarify his position after the road map becomes clear. ==KyodoViews: 27
Gov't mulls turning vehicle taxes into environment tax
Internal affairs minister Kazuhiro Haraguchi said Friday his ministry has begun studying a plan to unify a national tax based on motor vehicle tonnage and a local levy imposed on vehicle owners into an environment tax around the fiscal year beginning in April 2011. The minister of internal affairs and communications also said a local environment tax to be levied based on the amount of carbon contained in gasoline and diesel oil will also be discussed with the government Tax Commission, as well as the proposed environment tax on vehicles.Views: 15
Idemitsu Kosan acquires British oil development firm
Idemitsu Kosan Co. said Friday it has concluded a contract to acquire British oil developer Petro Summit Investment UK Ltd., buying all of its shares from Japanese trading house Sumitomo Corp. The major Japanese oil distributor did not disclose the cost of the deal but it is estimated at tens of billions of yen.Views: 25
Okada to make 2-day visit to Okinawa from Sun. over U.S. base issue
Foreign Minister Katsuya Okada said Friday that he will visit Okinawa on Sunday and Monday, apparently to study the feasibility of his controversial idea of transferring a major local U.S. Marine airfield to the nearby U.S. Kadena Air Base. The announcement comes shortly after Japan and the United States agreed to set up a ministerial-level working group to discuss the relocation of the U.S. Marine Corps' Futemma Air Station, an issue which is threatening to harm bilateral relations.Views: 24
5 major banks report group net profits for April-Sept.
Five of Japan's top six banks, including Mizuho Financial Group Inc., posted net profits for the April-September period amid the easing of the global financial turmoil, although three of them saw profits decline from a year earlier, according to their financial results released Friday. Mizuho Financial, Japan's second-largest banking group by assets, reported a group net profit of 87.81 billion yen for the first half of fiscal 2009 ending next March, down 7.1 percent from a year earlier.Views: 16
5 major banks report group net profits for April-Sept.
Five of Japan's top six banks, including Mizuho Financial Group Inc., posted net profits for the April-September period amid the easing of the global financial turmoil, although three of them saw profits decline from a year earlier, according to their financial results released Friday. Mizuho Financial, Japan's second-largest banking group by assets, reported a group net profit of 87.81 billion yen for the first half of fiscal 2009 ending next March, down 7.1 percent from a year earlier.Views: 21
Kamei questions central bank's ability to assess economy
Financial Services Minister Shizuka Kamei on Friday criticized the Bank of Japan following its recent decision to end some of its emergency funding steps, saying the central bank's ability to recognize the real state of the economy seems ''a bit weak.'' ''The BOJ must look at the real economy more properly,'' Kamei said at a regular press conference. ''It is important for the BOJ to have the ability to figure out what's there behind the numbers, and as far as I can see, its ability (to do so) seems a bit weak.''Views: 24
Kamei questions central bank's ability to assess economy
Financial Services Minister Shizuka Kamei on Friday criticized the Bank of Japan following its recent decision to end some of its emergency funding steps, saying the central bank's ability to recognize the real economy seems ''a bit weak.'' ''The BOJ must look at the real economy more properly,'' Kamei said at a regular press conference. ''It is important for the BOJ to have the ability to figure out what's there behind the numbers, and as far as I can see, its ability seems a bit weak.''Views: 25
Most regional banks log net profits in fiscal 1st half
Eighty-two of 86 listed regional banks posted group net profits for the April-September first half of fiscal 2009, according to their earnings reports released through Friday. Of the 82 regional banks, 35 banks reported net profit increases from the same period last year and 25 others returned to the black, showing recovery in their businesses.Views: 5
Crude oil futures dip to 1-month low in upper $76 in N.Y.
Crude oil futures fell to a one-month low in the upper $76 range per barrel on Thursday on fears of slack energy demand. The December contract for West Texas Intermediate crude ended $2.34 lower at $76.94 on the New York Mercantile Exchange, marking the lowest level since mid-October.Views: 27
FamilyMart to acquire am/pm convenience store
Convenience store chain operator FamilyMart Co. said Friday it will acquire smaller rival am/pm Japan Co. and turn it into a subsidiary, in a bid to boost its competitiveness with other rivals amid sluggish consumption. FamilyMart said it will purchase all shares in am/pm Japan from its parent company, Rex Holdings Co., in a transaction to be worth 12 billion yen.Views: 21
FamilyMart to acquire smaller convenience store rival am/pm
Convenience store chain operator FamilyMart Co. said Friday it will acquire smaller rival am/pm Japan Co. and turn it into a subsidiary in a bid to boost its competitiveness with other rivals amid sluggish consumption. FamilyMart said it will purchase all shares in am/pm Japan from its parent company, Rex Holdings Co., on Dec. 24 in a transaction to be worth 12 billion yen.Views: 15
FamilyMart, Itochu decide to acquire am/pm convenience store
Convenience store chain operator FamilyMart Co. and its top shareholder, major Japanese trading house Itochu Corp., have decided to acquire smaller rival am/pm Japan Co., sources familiar with the matter said Thursday. FamilyMart and Itochu have effectively struck the deal, expected to be worth about 10 billion yen, with am/pm's parent company, Rex Holdings Co., the sources said. They will announce the deal possibly Friday, according to the sources.Views: 18
Okinawa dailies greet Obama with front-page editorials on base issues
Both major Okinawa dailies, The Ryukyu Shimpo and The Okinawa Times, took the unconventional step Friday of running editorials on their front pages, calling for U.S. President Barack Obama to change Washington's policies on military bases, including the Futemma airfield relocation issue, on the southern island. The Ryukyu Shimpo took an even more unusual approach by publishing an editorial in both Japanese and English for the first time in its 116-year history with the headline: ''It's Also Time for 'Change' for the Bases In Okinawa. We Urge You to Take a Decisive Step Worthy of the Peace Prize.''Views: 8
Okinawa dailies greet Obama with front-page editorials on base issues
Both major Okinawa dailies took the unconventional step Friday of running editorials on their front pages, calling for U.S. President Barack Obama to change Washington's policies on military bases, including the Futemma airfield relocation issue, on the southern island hours ahead of his arrival in Tokyo. The Ryukyu Shimpo took an even more unusual approach by publishing an editorial in both Japanese and English for the first time in its 116-year history with the headline: ''It's Also Time for 'Change' for the Bases In Okinawa. We Urge You to Take a Decisive Step Worthy of the Peace Prize.''Views: 11
A-bomb survivors seek abolition of nuke weapons in letters to Obama
Atomic bomb survivors from Hiroshima and Nagasaki submitted letters to visiting U.S. President Barack Obama on Friday through the U.S. Embassy in Tokyo, calling for the abolition of nuclear weapons. Kazumi Tsuchida, 69, a Hiroshima survivor, read out her letter before handing it to embassy personnel.Views: 30
Passengers, crew rescued from listing ferry in Pacific
All 28 passengers and crew members were rescued Friday from a ferry after the vessel listed while in operation in the Pacific off Kumano, Mie Prefecture, the Japan Coast Guard said. The 7,910-ton Ariake went aground and fell on its side after the seven passengers and 21 crew members were rescued. One passenger and one crew member sustained injuries in the incident.Views: 18
Passengers, crew rescued from listing ferry in Pacific
All 28 passengers and crew members were rescued Friday from a ferry after the vessel listed while in operation in the Pacific off Kumano, Mie Prefecture, the Japan Coast Guard said. The 7,910-ton Ariake went aground and fell on its side after the seven passengers and 21 crew members were rescued.Views: 5
Afghanistan country most affected by landmines in 2008: annual report
Afghanistan was the country most affected by landmines in 2008, with the highest casualty figures and one of the world's largest contaminated areas, according to the 2009 Landmine Monitor Report, released Thursday. Afghanistan recorded 992 casualties, or nearly 20 percent of all casualties reported worldwide in 2008, which were caused by landmines, explosive remnants of war and improvised explosive devices, the report said.Views: 12
U.S. should stop 'lecturing' Japan: U.S. think tank fellow
A senior fellow at the New York-based think tank Council on Foreign Relations has said in a Washington Post article that the United States should stop ''lecturing'' Japan and President Barack Obama should use its current trip to Asia to help invigorate the Japan-U.S. relations that have been shaken since the Democratic Party of Japan came to power in September. ''The historic political transition underway in Tokyo is rattling Washington and has produced a puzzling rigidity in an administration known for its capacity for reaching out to the world,'' Sheila A. Smith, senior fellow for Japan studies at the Council on Foreign Relations, said in an Opinions page of the Washington Post published Thursday.Views: 13
Development of supercomputer to be frozen
A key government panel on cutting wasteful spending on Friday sought to freeze a project to develop a next-generation supercomputer, for which a 26.7 billion yen budget has been requested. Riken, an independent administrative body under the Education, Culture Sports, Science and Technology Ministry, is working with private companies to develop the computer with the world's highest capability. But members of the Government Revitalization Unit have raised questions, saying, ''It's hard to understand how (the supercomputer) will contribute to the daily lives of people.''Views: 15
Spending for supercomputer development to be drastically curtailed
A key government panel on cutting wasteful spending on Friday sought to drastically curtail expenses for a project to develop the world's fastest next-generation supercomputer, for which a 26.7 billion yen budget allocation has been requested. Riken, an independent administrative body under the Ministry of Education, Culture, Sports, Science and Technology, is working with private companies to develop a computer with the world's highest capability. But members of the Government Revitalization Unit have raised questions, saying, ''Why does it have to be the world's fastest?'' and, ''It's hard to understand how (the supercomputer) will contribute to the daily lives of people.''Views: 25
First defendant to plead not guilty at lay judge trial convicted
A German woman was convicted Friday of smuggling drugs in the first case in which a defendant pleaded not guilty at a lay judge trial. Gerspacher Bernice, 53, was sentenced to nine years in prison and fined 3.5 million yen at the Osaka District Court.Views: 17
Employer faces business cutbacks after reporting suspect Ichihashi
A construction company that reported to police it had employed Tatsuya Ichihashi, the suspect in the 2007 murder case of a British woman, has been experiencing contract terminations and suspensions, a company official said Friday. The company's business partners have been critical, saying it failed to thoroughly check their employees' identity, according to the official.Views: 17