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World Bank cuts 2024 growth forecast for Japan

STORY: World Bank cuts 2024 growth forecast for Japan SHOOTING TIME: Recent footage DATELINE: June 13, 2024 LENGTH: 00:01:06 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo STORYLINE: The World Bank has cut its economic growth forecast for Japan for 2024 to 0.7 percent from 0.9 percent, while lifting the global growth outlook for the year to 2.6 percent from 2.4 percent, local media reported. The Japan growth forecast fell 0.2 percentage point from the previous estimate in January due to sluggish consumption growth and slowing exports, as well as a halt in growth in demand from foreign tourists, Jiji Press said Tuesday, citing the World Bank's latest Global Economic Prospects report. Japan's economic growth is projected to rise to 1.0 percent in 2025, as consumption is expected to improve moderately, it added. Meanwhile, the global economy would avoid a third consecutive drop in real GDP growth since a major post-pandemic jump in 2021, with 2024 growth stabilizin

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Signboards and logos of Japan Post Bank and Japan Post

Signboard and logo of Japan Post Bank and Japan Post. ＝April 11, 2024, Kanagawa Prefecture, Japan

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Bank of Japan ends negative interest rates in historic policy overhaul

STORY: Bank of Japan ends negative interest rates in historic policy overhaul SHOOTING TIME: Earlier footage DATELINE: March 19, 2024 LENGTH: 0:00:41 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Japan 2. various of city views in Tokyo STORYLINE: The Bank of Japan (BOJ) on Tuesday decided to end its negative interest rate policy in its first rate hike in 17 years, marking a major shift away from the long-running monetary easing that Japan has seen over the past decade to put an end to deflation. After a two-day policy meeting, the central bank's policy board decided to guide short-term rate to a range of 0 to 0.1 percent, up a fraction from minus 0.1 to 0 percent, judging that its goal of attaining a stable 2 percent inflation is "in sight." "It came into sight that the price stability target of 2 percent would be achieved in a sustainable and stable manner," the BOJ said in a post-meeting statement. On top of returning to positive rates, the BOJ also decided to scrap it

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New BOJ governor Ueda

New Bank of Japan Governor Kazuo Ueda attends his first press conference since assuming the post at the central bank's head office in Tokyo on April 10, 2023.

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New BOJ governor Ueda

New Bank of Japan Governor Kazuo Ueda attends his first press conference since assuming the post at the central bank's head office in Tokyo on April 10, 2023. (Pool photo)

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New BOJ governor Ueda

New Bank of Japan Governor Kazuo Ueda attends his first press conference since assuming the post at the central bank's head office in Tokyo on April 10, 2023. (Pool photo)

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New BOJ governor Ueda

New Bank of Japan Governor Kazuo Ueda attends his first press conference since assuming the post at the central bank's head office in Tokyo on April 10, 2023. (Pool photo)

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Sharp develops table-type touch panel display

OSAKA, Japan - A table-type touch panel display developed by Sharp Corp. is shown in Osaka, western Japan, on Oct.8, 2014. A special optical sensor pen is used to write on the display, which has been delivered to three Japan Post Bank branches on a trial basis.

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Old bank notes deposited by WWII returnees given airing

YOKOHAMA, Japan - Customs officials expose to the air excess bank notes deposited by post-World War II returnees, mainly from China and the Korean Peninsula, at the customs house in Yokohama west of Tokyo on Aug. 6, 2014. Some 60% of the total deposits exceeding upper limits imposed by the Allied Occupation forces to fend off inflation remain to be returned at Japan's eight customs houses.

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Watanabe becomes JBIC governor

TOKYO, Japan - Hiroshi Watanabe (L), new governor of the Japan Bank for International Cooperation, along with his predecessor Hiroshi Okuda (R), a former president of Toyota Motor Corp., attend a press conference in Tokyo on Dec. 26, 2013. Watanabe served as head of the International Bureau of the Finance Ministry and vice minister for international affairs before becoming JBIC's executive managing director, the No. 2 post at the institution, in April 2012.

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Skyscraper housing Japan Post Bank head office

TOKYO, Japan - Photo taken July 17, 2012, shows JP Tower, a new skyscraper housing a post office and the head office of Japan Post Bank on its ground floor, in front of JR Tokyo Station in Tokyo's Chiyoda Ward. The opening ceremony for the offices was held the same day at the roughly 200-meter-tall, 38-story structure.

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Skyscraper housing Japan Post Bank head office

TOKYO, Japan - File photo taken in May 2012 shows JP Tower, a new skyscraper housing a post office and the head office of Japan Post Bank on its ground floor, in front of JR Tokyo Station (foreground) in Tokyo's Chiyoda Ward. The opening ceremony for the offices was held July 17, 2012, at the roughly 200-meter-tall, 38-story structure.

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Skyscraper housing Japan Post Bank head office

TOKYO, Japan - Participants cut the ribbons during the opening ceremony for a post office and the head office of Japan Post Bank at JP Tower in Tokyo's Chiyoda Ward on July 17, 2012. The roughly 200-meter-tall, 38-story structure housing the offices on its ground floor is located in front of JR Tokyo Station.

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Skyscraper housing Japan Post Bank head office

TOKYO, Japan - Photo shows the inside of a newly opened post office at JP Tower in Tokyo's Chiyoda Ward on July 17, 2012. The opening ceremony was held the same day for the post office and the head office of Japan Post Bank, both on the ground floor of the roughly 200-meter-tall, 38-story structure.

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Japan official to head World Bank green fund

TOKYO, Japan - Undated file photo shows Naoko Ishii, deputy vice minister of finance of Japan. Ishii will assume the post of chief executive officer of the Global Environmental Facility, which is linked to the World Bank, sources close to the matter said on June 7, 2012.

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Actress Kikukawa in event

TOKYO, Japan - Actress Rei Kikukawa (R) receives a letter from Japanese Bankers Association Chairman Masayuki Oku appointing her to a one-day post to prevent fraud via remittance to bank accounts at an event in Tokyo on July 6, 2010.

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Prince to take helm at Aozora Bank

TOKYO, Japan - Aozora Bank Deputy President Brian Prince (2nd from L), who has become acting president of the bank, speaks during a news conference in Tokyo on Feb. 10. Prince will assume the bank's top post after his appointment is approved at a general shareholders meeting in June, succeeding Federico Sacasa. Sacasa stepped down to take responsibility after the bank said it expects its group net loss for the year through March to expand to 196 billion yen due to its exposure to the global financial turmoil.

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BOJ Executive Director Yamaguchi nominated as deputy governor

TOKYO, Japan - This undated file photo shows Bank of Japan Executive Director Hirohide Yamaguchi who the Japanese government Oct. 15 nominated as one of the central bank's two deputy governors. The post has remained vacant since earlier this year given the divided Diet.

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Shirakawa becomes BOJ chief after Diet OKs nomination

TOKYO, Japan - New Bank of Japan Governor Masaaki Shirakawa speaks at a news conference at the BOJ's headquarters in Tokyo on April 9. Shirakawa, who was a BOJ deputy governor doubling as acting BOJ chief, assumed the top post of Japan's central bank following the Diet's approval of his nomination earlier in the day.

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Diet approves Shirakawa's nomination for BOJ chief

TOKYO, Japan - Both houses of the Japanese Diet on April 9 approved the nomination of acting Bank of Japan Governor Masaaki Shirakawa for the central bank chief, paving the way for him to assume the top post at the BOJ later in the day. Photo shows members of the House of Representatives, where the ruling camp holds a majority, endorsing his nomination after the opposition-controlled House of Councillors approved it earlier in the day.

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Shirakawa becomes BOJ chief after Diet OKs nomination

TOKYO, Japan - New Bank of Japan Governor Masaaki Shirakawa smiles during a news conference at the BOJ's headquarters in Tokyo on April 9. Shirakawa, who was a BOJ deputy governor doubling as acting BOJ chief, assumed the top post of Japan's central bank following the Diet's approval of his nomination earlier in the day.

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Top DPJ execs reject Watanabe for BOJ deputy governor

TOKYO, Japan - Top Democratic Party of Japan officials -- (from L to R) President Ichiro Ozawa, Acting President Naoto Kan and Secretary General Yukio Hatoyama -- attend a meeting of senior party executives at the party headquarters in Tokyo on April 8 where they rejected the government's nomination of Hiroshi Watanabe, a former vice finance minister for international affairs, for the post of Bank of Japan deputy governor.

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Nominees for BOJ's 2 top posts testify at Diet

TOKYO, Japan - Masaaki Shirakawa (L), nominee for the post of governor of the Bank of Japan, and Hiroshi Watanabe (R), nominee for deputy governor, emerge from the House of Councillors after testifying in the upper house on April 8. They also testified in the House of Representatives earlier in the day. Shirakawa is currently serving as acting governor of the BOJ and Watanabe, a former senior Finance Ministry official, is currently a professor at Hitotsubashi University.

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Gov't nominates Shirakawa for BOJ chief

TOKYO, Japan - Prime Minister Yasuo Fukuda responds to questions from reporters at his office on April 7 over the government's nomination of acting Bank of Japan Governor Masaaki Shirakawa for the post of governor of the central bank.

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Gov't nominates Shirakawa for BOJ chief, Watanabe for deputy

TOKYO, Japan - The Japanese government nominated acting Bank of Japan Governor Masaaki Shirakawa (L in file photo) for the post of governor of the central bank April 7, a move that could end the leadership vacuum at the bank ahead of a Group of Seven financial ministers' meeting slated for April 11 in Washington. The government also selected Hiroshi Watanabe (R in file photo), a former vice finance minister for international affairs, as its nominee for one of the BOJ's two deputy governor posts.

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BOJ chief nominee Tanami pledges to secure bank's independence

TOKYO, Japan - Koji Tanami, the government's nominee for the post of Bank of Japan governor, makes a policy speech at a House of Representatives panel, pledging to secure the central bank's independence from the government when making monetary policy decisions. At right in back is Kiyohiko Nishimura, a member of the BOJ's Policy Board who has been nominated as a BOJ deputy governor. (Pool photo)

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Tanami, Nishimura attend lower house panel session

TOKYO, Japan - Koji Tanami (R), the government's nominee for the post of Bank of Japan governor, and Kiyohiko Nishimura (L), a member of the central bank's Policy Board who has been nominated as a BOJ deputy governor, attend a House of Representatives panel to make their policy speeches on March 18. (Pool photo)

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BOJ chief nominee Tanami pledges to secure bank's independence

TOKYO, Japan - Koji Tanami, the government's nominee for the post of Bank of Japan governor, makes a policy speech at a House of Councillors panel on March 18.

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Tanami, Nishimura make speeches at upper house panel session

TOKYO, Japan - Koji Tanami (R), the government's nominee for the post of Bank of Japan governor, makes a policy speech at a House of Councillors panel on March 18. At left in front is Kiyohiko Nishimura, a member of the BOJ's Policy Board who has been nominated as a BOJ deputy governor.

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DPJ decides to reject Muto as next BOJ chief

TOKYO, Japan - An opposition Democratic Party of Japan panel on March 11 discusses the government's nomination of Bank of Japan Deputy Governor Toshiro Muto for the post of governor of the central bank. The party later formally decided to reject the nomination due to Muto's background as a bureaucrat even though he pledged in the Diet to ensure the BOJ's ''independence.''

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Sumitomo Trust's Director Tsunekage to replace ailing president

TOKYO, Japan - Hitoshi Tsunekakage (R), managing executive officer of Sumitomo Trust & Banking Co., speaks at a news conference at the Bank of Japan's headquarters in Tokyo on Nov. 26 after being nominated as successor to President Yutaka Morita, who is stepping down for health reasons. Chairman Atsushi Takahashi (L) will stay on in his current post.

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Japan starts 10-year postal privatization process

TOKYO, Japan - Staff (R side) at a Japan Post Bank office in Tokyo's Marunouchi district greet customers on Oct. 1 as Japan started the process of privatizing its state-run postal services.

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IMF's Rato to resign around October for personal reasons

TOKYO, Japan - File photo of International Monetary Fund Managing Director Rodrigo Rato. Rato said June 28 that he intends to leave his post around October for ''personal reasons'' following the conclusion of the 2007 Annual Meetings of the Boards of Governors of the IMF and World Bank Group.

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BOJ's Fukui hints at rate hikes despite near-term price falls

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks at a news conference at the BOJ's headquarters in Tokyo on April 27. Fukui suggested that the central bank could raise its key short-term interest rate if long-term price trends remain firm, although consumer prices are expected to post year-on-year declines in the short run.

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North Pacific Bank, Sapporo Bank to merge next Oct.

SAPPORO, Japan - North Pacific Bank President Tyuzo Yokouchi speaks at a press conference in Sapporo on Jan. 12. He said his bank and Sapporo Bank, both the banking subsidiaries of Sapporo Hokuyo Holdings Inc., will officially merge, possibly on Oct. 14, 2008. Yokouchi will become president of the post-merger bank, which will rank sixth among Japanese regional banks.

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BOJ chief upbeat on economic outlook, mum on rate hike

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui (L) takes his seat to preside over a one-day quarterly meeting of BOJ branch managers at the central bank in Tokyo on July 6. Fukui voiced stronger optimism over the course of the Japanese economy than three months ago, saying the economy is expected to post a sustained economic expansion.

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Gov't mulling ex-UFJ Holdings head as postal savings bank chief

TOKYO, Japan - The government has decided to appoint Hideo Ogasawara (file photo), a former head of UFJ Holdings Inc., the predecessor of Mitsubishi UFJ Holdings Financial Group Inc., to head the bank unit of Japan Post when it is privatized in October 2007, informed sources said June 21.

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Fukui adamant monetary policy shift to be based on CPI moves

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui is about take his seat at a quarterly meeting of BOJ branch managers on Jan. 13. Fukui reiterated that the central bank will maintain the ultra-loose monetary policy until consumer prices post solid year-on-year growth, signaling that the bank will seek a policy change based on the movement of the consumer price index despite opposition from the government.

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Fukui vows to maintain current monetary policy

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui (L), attending a quarterly meeting of BOJ branch managers on Oct. 20 in Tokyo, reiterated his determination to maintain the central bank's ultra-loose monetary policy until consumer prices post sustained growth.

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BOJ chief Fukui again hints at policy shift by next March

TOKYO, Japan - Bank of Japan Governor Toshihiko Fukui speaks at a press conference in Tokyo on Oct. 12. Fukui indicated again that the central bank may lift its ultra-loose monetary policy by the March end of the current fiscal year as consumer prices are expected to post a sustainable rise by that time. ''The chance of terminating the quantitative easing policy will gradually increase toward fiscal 2006,'' he said.

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Kuroda to become Asian Development Bank president

TOKYO, Japan - Haruhiko Kuroda, former vice finance minister for international affairs in Japan, will assume the post of Asian Development Bank president Feb. 1, 2005.

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Orders being accepted for gov't bonds targeting individuals

TOKYO, Japan - A UFJ Bank clerk (R) briefs a customer on Japan's first government bonds specifically targeting individuals, to be issued March 10 in Tokyo's Otemachi district Feb. 3. Commercial banks, securities houses and post offices began accepting orders for the bonds the same day.

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3 UFJ banks to post losses

TOKYO, Japan - Executives of three Japanese banks to merge as UFJ Holdings Inc. in April announced at a news conference March 16 they will post losses in their March settlements to write off over 1 trillion yen in bad loans. Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co. are the first major banks in Japan to formally announce losses in March book-closings for fiscal 2000.

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Japan Post Group Logo

Keywords: Japan Post Group, Holding Company, Japan Post, Japan Post Bank, Japan Post Insurance, JAPAN POST GROUP, JP Japan Post, Special Company, Company, Signboard, Logo, Logo Mark = July 31, 2019, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun/ Kyodo News Images

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Japan Post Group Logo

Keywords: Japan Post Group, Holding Company, Japan Post, Japan Post Bank, Japan Post Insurance, JAPAN POST GROUP, JP Japan Post, Special Company, Company, Signboard, Logo, Logo = July 31, 2019, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun/ Kyodo News Images

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Japan Post Group Logo

Keywords: Japan Post Group, Holding Company, Japan Post, Japan Post Bank, Japan Post Insurance, JAPAN POST GROUP, JP Japan Post, Special Company, Company, Signboard, Logo, Logo Mark = July 31, 2019, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun/ Kyodo News Images

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Japan Post Group Logo

Keywords: Japan Post Group, Holding Company, Japan Post, Japan Post Bank, Japan Post Insurance, JAPAN POST GROUP, JP Japan Post, Special Company, Company, Signboard, Logo, Logo Mark = July 31, 2019, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun/ Kyodo News Images

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Japan Post logo

Keywords: Japan Post Group, company, headquarters, signage, logo, logo mark = December 18, 2018, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun / Kyodo News Images

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Japan Post logo

Keywords: Japan Post Group, company, headquarters, signage, logo, logo mark = December 18, 2018, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun / Kyodo News Images

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Japan Post logo

Keywords: Japan Post Group, company, headquarters, signage, logo, logo mark = December 18, 2018, Headquarters in Otemachi, Chiyoda-ku, Tokyo, Credit: Nikkan Kogyo Shimbun / Kyodo News Images