Page 7 - Japan

PM Modi holds bilateral talks with counterparts from Japan, New Zealand

Prime Minister Narendra Modi on Thursday held a "very productive" meeting with newly-appointed Japanese counterpart Shigeru Ishiba here during which they discussed ways to enhance cooperation in different areas, including infrastructure, connectivity and defence. Separately, Prime Minister Modi also met his New Zealand counterpart Christopher Luxon on the margins of the ASEAN-India Summit in Vientiane. Modi, who is in the Laotian capital on a two-day visit, met Ishiba on the sidelines of the 21st ASEAN-India Summit and congratulated him on his new responsibility and wished him success in leading Japan to greater heights. "Had a very productive meeting with PM Ishiba. I'm happy to have met him just a few days after he became Japan's PM. Our talks included ways to enhance cooperation in infrastructure, connectivity, defence and more. Boosting cultural linkages was also discussed," Modi said in a post on X. Ishiba was appointed Japan's prime minister just last week. He replaced Fumio

Japan's Seven & i, facing a $47 bn Couche-Tard bid, to divest some assets

Operator of 'Seven Eleven stores'- numbering over 80,000 worldwide, has been under pressure from investors to divest from its large portfolio of peripheral businesses

BOJ highlights broadening wage, price gains but warns of potential risks

Governor Ueda has said the BOJ can afford to spend time scrutinising the fallout from US economic uncertainty in judging whether to hike rages

Japanese bonds yields rise in step with US peers after blowout jobs report

The two-year JGB yield was up 3.5 bps to a two-month high of 0.4 per cent

India to host four-nation Malabar naval exercise from Oct 8 to 18

India will host the four-nation Malabar naval exercise beginning Tuesday amid evolving security situation in the region. The navies of India, the US, Australia and Japan will carry out a series of complex naval drills during the 'sea phase' of the mega wargame. "Exercise Malabar 2024 is scheduled to take place from October 8 to 18, beginning with the Harbour Phase in Visakhapatnam, followed by the sea phase," the Indian Navy announced on Saturday. The Malabar exercise, which began in 1992 as a bilateral naval drill between the US and the Indian Navy, has evolved into a key multilateral event aimed at enhancing interoperability, fostering mutual understanding and addressing shared maritime challenges in the Indian Ocean and Indo-Pacific region. The exercise will feature the participation of various Indian naval platforms, including guided missile destroyers, multi-purpose frigates, submarines, fighter aircraft and helicopters. "The exercise will focus on a broad range of activities

Japanese PM Ishiba asks cabinet to compile fresh stimulus package

The fresh package will include payouts to low-income households and subsidies to local governments

Japan's new PM expresses regret for governing party's slush fund scandal

New Japanese Prime Minister Shigeru Ishiba opened his first policy speech in office Friday by expressing deep regrets over the governing party's slush funds scandal that dogged his predecessor. Ishiba replaced Fumio Kishida on Tuesday with the paramount mission of quickly pacifying public anger over financial misconduct in the Liberal Democratic Party and regaining support ahead of an Oct 27 parliamentary election. I will achieve politics that is not for politicians but for the people, Ishiba said, pledging to provide sincere explanations and ensure that lawmakers abide by the rules. He set five policy pillars to uphold, including security, economy and disaster resilience. Ishiba said he will bolster Japan's military capability to defend itself from threats from China, Russia and North Korea under the framework of the Japan-US security alliance. He did not mention two goals he advocated before taking office making the Japan-US security alliance more equitable and establishing a .

Rapidly ageing population forces Japanese firms to lean on foreign workers

A shrinking and rapidly ageing population has forced Japan, which for centuries was mostly closed off to immigrants, to allow foreign workers to enter the country and potentially stay for good

BOJ policymaker calls for slow, cautious movement on interest rate hikes

The comments from Bank of Japan board member Asahi Noguchi come a day after Japan's new prime minister, Shigeru Ishiba, said the economy was not ready for further rate hikes

In a World War II reminder for Japan, war-era bomb detonates at airport

Japan authorities confirmed that a Second World War-era 500-pound US bomb was responsible for the explosion at Miyazaki Airport in southwestern Japan, and no further threat remains

Japanese investors' $4 trillion 'carry trade' begins to slowly unwind

In the first eight months of the year, Japanese investors snapped up a net ¥28 trillion ($192 billion) of the nation's government bonds, the largest amount for the time frame in at least 14 years

Not working on PM's 'Asian Nato' proposal, say Japanese ministers

Shigeru Ishiba made the proposal ahead of his victory in the ruling party leadership election on Friday, arguing that it would bolster security in Asia

Unstable markets, uncertainty require vigilance: BOJ Governor Ueda

Prime Minister Shigeru Ishiba on Tuesday urged the BOJ to maintain loose monetary policy, as the government strives to end economic stagnation

US bomb from WW II explodes at Japan airport, causes large crater

An unexploded US bomb from World War II that had been buried at a Japanese airport exploded Wednesday, causing a large crater in a taxiway and the cancellation of more than 80 flights but no injuries, Japanese officials said. Land and Transport Ministry officials said there were no aircraft nearby when the bomb exploded at Miyazaki Airport in southwestern Japan. Officials said an investigation by the Self-Defence Forces and police confirmed that the explosion was caused by a 500-pound US bomb and there was no further danger. They were determining what caused its sudden detonation. A video recorded by a nearby aviation school showed the blast spewing pieces of asphalt into the air like a fountain. Videos broadcast on Japanese television showed a crater in the taxiway reportedly about 7 meters in diameter and 3 feet deep. Chief Cabinet Secretary Yoshimasa Hayashi said more than 80 flights had been cancelled at the airport, which hopes to resume operations on Thursday morning. Miyaza

Japan's new PM Ishiba vows to push a strong defence under Japan-US alliance

Japan's new Prime Minister Shigeru Ishiba pledged to stick to the vital Japan-US alliance while calling for it to be more equitable after he took office on Tuesday, vowing to tackle a slow economy and regain public trust before an upcoming election. Shigeru Ishiba replaced Fumio Kishida, who stepped down to pave the way for a fresh leader after scandals dogged his government. In a show of Japan's respect to its most important ally, the US, Ishiba spoke by telephone with President Joe Biden early on Wednesday and told reporters he reassured Biden of his plan to further strengthen the Japan-US alliance that Biden and Kishida have significantly elevated. His new Cabinet emphasises defence and a majority of its members, including Ishiba himself, are unaffiliated with factions led and controlled by Liberal Democratic Party heavyweights, and none is from the late Shinzo Abe's faction that has been linked to damaging misconduct. Speaking to reporters at the prime minister's office for the

Japan's Shigeru Ishiba confirmed as prime minister, set to unveil cabinet

In his victory speech on Friday, he spoke about the need to beef up Japan's security after recent territorial incursions by Chinese and Russian military vessels

Japan PM Kishida steps down before likely successor Ishiba takes office

Japan's Prime Minister Fumio Kishida resigned with his Cabinet, paving the way for his likely successor Shigeru Ishiba to take office. Chief Cabinet Secretary Yoshimasa Hayashi announced that Kishida and his ministers stepped down at a Cabinet meeting on Tuesday. Ishiba was chosen as the governing Liberal Democratic Party's leader on Friday to replace Kishida, who announced in August his resignation at the end of his three-year term. Ishiba is assured to be prime minister later on Tuesday in a vote by parliament because it is dominated by his party's ruling coalition. Ishiba will then announce his new Cabinet later in the day. Kishida took office in 2021 but is leaving so his party can have a fresh leader after his government was dogged by scandals. On Monday, Ishiba said he planned to call a parliamentary election to be held on October 27 after he is formally chosen as prime minister. "I believe it is important to have the new administration get the public's judgement as soon a

Kishida's legacy: Scandals at home, global respect for security, diplomacy

Japanese Prime Minister Fumio Kishida will step down Tuesday, handing over leadership to his successor Shigeru Ishiba, who is expected to formally take office later in the day. He says he plans to call a snap election for October 27. Kishida's popularity ratings were precarious during most of his three-year term due to damaging corruption scandals that eventually led him to bow out. At home, Kishida was seen as a leader without a vision who compromised with powerful conservative nationalists within the ruling Liberal Democratic Party to stay in power. But he has won respect outside Japan, especially from the United States, for pushing bold changes in Japanese defence and security policies and for standing tougher against Russia and China. Here is a lookback at Kishida's leadership and his legacy: Distress at home After taking office in October 2021, Kishida made a number of major decisions, such as reversing Japan's nuclear energy phase-out and pursuing a rapid military buildup. B

Japan's incoming PM Ishiba calls election for Oct 27, aims to unify party

Ishiba began picking government and party officials who will contest the upcoming general election with him

Asian shares hold steady amid China stimulus, Japan rate fears hit Nikkei

The week is packed with major US economic data including a payrolls report that could decide whether the Federal Reserve delivers another outsized rate cut in November