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Japan to respond appropriately, any time to excessive yen moves: currency official

STORY: Japan to respond appropriately, any time to excessive yen moves: currency official SHOOTING TIME: June 20, 2024/Earlier footage DATELINE: June 25, 2024 LENGTH: 00:02:39 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of Japan 2. various of banks in Japan 3. various of Tokyo Stock Exchange 4. various of Nikkei stock index STORYLINE: Japan stands ready to take appropriate steps against volatile currency moves at "any time," the country's top currency diplomat said Monday, as the yen neared the 160 line against the U.S. dollar, a level that previously prompted authorities to intervene in the market. Masato Kanda, vice finance minister for international affairs, warned that excessive yen fluctuations negatively affect the economy. "We are ready to take appropriate action at any time," he told reporters. The yen's weakness persists after the Bank of Japan's decision this month to hold off reducing bond-buying stimulus until its July meeting. The yen weakened to 159.94 per U.S. doll

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Toyota logs record net profit in fiscal 2023

STORY: Toyota logs record net profit in fiscal 2023 SHOOTING TIME: May 8, 2024 DATELINE: May 9, 2024 LENGTH: 00:00:56 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of a press conference held by Toyota Motor Corp. STORYLINE: Toyota Motor Corp. said Wednesday it saw a record net profit of 4.94 trillion yen (31.82 billion U.S. dollars) for the fiscal year of 2023, citing robust demand and the yen's depreciation. The figure doubled from the previous fiscal year, while the operating profit almost doubled from a year earlier to 5.35 trillion yen during the fiscal period from April 2023 to March 2024, the company said in its latest financial results. According to local media reports, Toyota became the first Japanese company to top the 5-trillion-yen mark in operating profit for fiscal 2023. The Japanese automaker reported a record 45.1 trillion yen in sales, up 21.4 percent from a year ago. Citing the popularity of hybrid cars, the company said its group vehicle sales, including those of its subsidia

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Yen briefly drops past 160 level vs USD in volatile trading

STORY: Yen briefly drops past 160 level vs USD in volatile trading SHOOTING TIME: Archives DATELINE: April 30, 2024 LENGTH: 00:01:30 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Tokyo STORYLINE: The Japanese yen briefly dropped to a new 34-year low in the 160 level against the U.S. dollar on foreign exchange markets on Monday morning. It marked the first time since April 1990 that the U.S. dollar has topped the 160 yen line. Monday is a national holiday in Japan, but trading remained very volatile as the Japanese currency began reversing its trajectory in the afternoon, strengthening to the 155 level. Some market participants suspected that Japanese authorities may have stepped into the currency market to stem the yen's dive. A senior Finance Ministry official declined to comment on the yen's sharp rise, Kyodo News reported on Monday. The Japanese currency also fell to around 171 against the euro at one stage, its lowest level since euro was introduced in 1999. Xinhua News

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Nikkei regains 39,000

A stock monitor at a foreign exchange trading company in Tokyo shows the Nikkei Stock Average recovering to the 39,000 level on the morning of March 18, 2024, amid the yen's weakness against the U.S. dollar.

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Japanese Finance Minister Suzuki

Japanese Finance Minister Shunichi Suzuki responds to reporters' questions about the yen's volatility at the ministry in Tokyo on Oct. 4, 2023.

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Japan's top currency diplomat Kanda

Masato Kanda, Japanese vice finance minister for international affairs, speaks to reporters at the Finance Ministry in Tokyo on Oct. 4, 2023, over the yen's volatile trading.

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Japan's wholesale prices increase 7.2 pct in March

STORY: Japan's wholesale prices increase 7.2 pct in March DATELINE: April 13, 2023 LENGTH: 00:00:58 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of factories in Japan 2. various of port 3. various of city views in Tokyo STORYLINE: Japan's wholesale price inflation increased in March from a year earlier, although the pace of increase slowed for a third successive month, the Bank of Japan (BOJ) said Wednesday. According to the central bank, wholesale prices in Japan rose 7.2 percent in March from a year earlier, as raw material prices and the yen's weaker tone continue to weigh. The corporate goods price index (CGPI), a gauge of prices for goods and services charged by companies to each other, came on the heels of an 8.3 percent increase booked in February, the data showed, with the latest reading coming in line with economists' expectations. Unlike other major central banks, the BOJ has steadfastly stuck to its pledge of maintaining its ultra-low interest rate policy despite a widening

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Japan's GDP growth downgraded to annualized real 0.1 pct in Q4 2022

STORY: Japan's GDP growth downgraded to annualized real 0.1 pct in Q4 2022 DATELINE: March 10, 2023 LENGTH: 00:01:01 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Japanese economy STORYLINE: Japan's economic growth in the October to December quarter was downgraded, owing to private consumption increasing less than previously thought, the government said in a report on Thursday. According to the Cabinet Office, the country's economic expansion was downwardly revised from 0.6 percent to an annualized real 0.1 percent. On an inflation-adjusted basis, real gross domestic product (GDP) on a quarterly basis was revised down from 0.2 percent to 0.02 percent, the government also said. Private consumption, which accounts for roughly half of Japan's GDP, slowed from 0.5 percent in the government's preliminary report, to 0.3 percent. This has been due to soaring inflation resulting in rising price points in shops and supermarkets, as well as energy bills, with the yen's weakness further inflating pric

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Japan's current account surplus drops 50 pct to 8-year low in 2022

STORY: Japan's current account surplus drops 50 pct to 8-year low in 2022 DATELINE: Feb. 9, 2023 LENGTH: 00:00:48 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Tokyo 2. various of banks 3. various of ports 4. various of Tokyo STORYLINE: Japan's current account surplus logged in 2022 was almost 50 percent lower than the previous year, marking its lowest level in eight years, owing to a record trade deficit due to an upsurge in imports and the yen's weakness, the government said in a report on Wednesday. According to the finance ministry, the current account in 2022 stood at 11.44 trillion yen (87.26 billion U.S. dollars), with a record contraction year on year, resulting from surging import costs coming despite the primary income logging a record surplus. The country's trade deficit totaled 15.78 trillion yen (120.36 billion dollars), with imports climbing 42 percent to 114.47 trillion yen (873.12 trillion dollars) and exports up 19.9 percent to 98.69 trillion yen (752.74 billion dollars), th

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Nikkei closes at nearly 9-month low

TOKYO, Japan - A signboard shows Japan's key Nikkei index closing at a nearly nine-month low of 9,161.68 in Tokyo's Yaesu area on Aug. 17, 2010. The yen's strength against the dollar continued to weigh on the market amid concern about economic growth at home and abroad.

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Toyota raises profit outlook

TOKYO, Japan - Reporters swarm around Takuo Sasaki (L), managing officer of Toyota Motor Corp., after Sasaki released the company's latest earnings forecast at a press conference at the company's Tokyo head office on Feb. 4, 2014. Toyota revised upward its group operating profit projection for fiscal 2013 through March 2014 to a record 2.4 trillion yen from an earlier estimated 2.2 trillion yen, citing the yen's slide, robust sales in North America and cost-cutting measures.

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Toyota raises profit outlook

TOKYO, Japan - Takuo Sasaki, managing officer of Toyota Motor Corp., releases the company's latest earnings forecast at a press conference at the company's Tokyo head office on Feb. 4, 2014. Toyota revised upward its group operating profit projection for fiscal 2013 through March 2014 to a record 2.4 trillion yen from an earlier estimated 2.2 trillion yen, citing the yen's slide, robust sales in North America and cost-cutting measures.

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Toyota raises profit outlook

TOKYO, Japan - Takuo Sasaki, managing officer of Toyota Motor Corp., releases the company's latest earnings forecast at a press conference at the company's Tokyo head office on Feb. 4, 2014. Toyota revised upward its group operating profit projection for fiscal 2013 through March 2014 to a record 2.4 trillion yen from an earlier estimated 2.2 trillion yen, citing the yen's slide, robust sales in North America and cost-cutting measures.

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Japan finance minister expresses concern about yen's appreciation

TOKYO, Japan, June 17 Kyodo - Japanese Finance Minister Taro Aso attends a Cabinet meeting in Tokyo on June 17, 2016. At a press conference after the meeting, Aso expressed concern about the yen's rapid appreciation and vowed to take action if required.

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BOJ holds branch managers meeting

TOKYO, Japan - Bank of Japan Governor Haruhiko Kuroda (2nd from R) attends the central bank's branch managers meeting at its headquarters in Tokyo on Jan. 15, 2015. They will examine how the yen's rapid decline and the consumption tax hike in April 2014 have affected regional economies.

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Cabinet OKs stimulus package to rev up regional economies

TOKYO, Japan - Japan's Prime Minister Shinzo Abe (C) addresses a government panel meeting on Dec. 27, 2014, in Tokyo. His Cabinet endorsed a 3.5 trillion yen emergency economic stimulus package intended to rev up regional economies beset by higher prices following the April 1 consumption tax hike and the yen's plunge.

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BOJ watching impact of falling yen after additional easing

NAGOYA, Japan - Bank of Japan Governor Haruhiko Kuroda delivers a lecture in a meeting of business leaders at a hotel in Nagoya, central Japan, on Nov. 25, 2014. Kuroda said the central bank is closely watching the impact of the yen's sharp fall against other major currencies following its additional monetary easing the previous month.

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BOJ watching impact of falling yen after additional easing

NAGOYA, Japan - Bank of Japan Governor Haruhiko Kuroda delivers a lecture in a meeting of business leaders at a hotel in Nagoya, central Japan, on Nov. 25, 2014. Kuroda said the central bank is closely watching the impact of the yen's sharp fall against other major currencies following its additional monetary easing the previous month.

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M'bishi Motors net profit surges 30% in April-Sept.

TOKYO, Japan - Mitsubishi Motors Corp. Chairman Osamu Masuko attends a press conference in Tokyo, Japan, on Oct. 29, 2014. The company said while its group net profit for the April-September period surged 30.3 percent from a year earlier to 60.89 billion yen thanks to cost-cutting efforts and the yen's depreciation, it was downgrading its sales forecast for the entire fiscal 2014 to 2.18 trillion yen from the previously projected 2.3 trillion yen.

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Chinese tourists flocking to Japan in Oct. holiday week

TOKYO, Japan - Chinese tourists visit Tokyo's Ginza shopping district on Sept. 24, 2014. A large number of Chinese travelers are expected to visit Japan during China's Oct. 1-7 holiday week for the National Foundation Day taking advantage of the yen's recent rapid depreciation against foreign currencies.

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Sony group net profit up 8.6-fold in April-June

TOKYO, Japan - Sony Corp. Chief Financial Officer Kenichiro Yoshida announces the company's earnings report for the April-June quarter on July 31, 2014, in Tokyo, Japan. Sony's group net profit in the three-month period rose nearly 8.6-fold to 26.81 billion yen due to strong sales of its gaming console and the yen's depreciation.

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Toyota's group operating profit hits record

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda holds a press conference at the company's Tokyo head office on May 8, 2014. The automaker's group operating profit for fiscal 2013, ended March 2014, surged 73.5 percent from the previous year to a record 2.29 trillion yen, driven by the yen's slide and robust sales in Japan and North America.

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Toyota's group operating profit hits record

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda holds a press conference at the company's Tokyo head office on May 8, 2014. The automaker's group operating profit for fiscal 2013, ended March 2014, surged 73.5 percent from the previous year to a record 2.29 trillion yen, driven by the yen's slide and robust sales in Japan and North America.

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Toyota's group operating profit hits record

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda holds a press conference at the company's Tokyo head office on May 8, 2014. The automaker's group operating profit for fiscal 2013, ended March 2014, surged 73.5 percent from the previous year to a record 2.29 trillion yen, driven by the yen's slide and robust sales in Japan and North America.

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Toyota's group operating profit hits record

TOKYO, Japan - Toyota Motor Corp. President Akio Toyoda holds a press conference at the company's Tokyo head office on May 8, 2014. The automaker's group operating profit for fiscal 2013, ended March 2014, surged 73.5 percent from the previous year to a record 2.29 trillion yen, driven by the yen's slide and robust sales in Japan and North America.

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Toyota earnings outlook

TOKYO, Japan - Toyota Motor Corp. Managing Officer Takuo Sasaki speaks during a press conference in Tokyo on Aug. 2, 2013. Toyota revised upward its full-year earnings forecast for the current business year ending in March 2014, citing a favorable effect of the yen's depreciation that boosts export competitiveness.

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Nikkei ends above 14,000

TOKYO, Japan - An electronic signboard in central Tokyo's Yaesu district shows Japan's key Nikkei Stock Average above 14,000, up more than 500 points from May 2, the preceding business day, on the afternoon of May 7, 2013. The index finished at 14,180.24, its highest close since June 18, 2008, as sentiment was buoyed following robust U.S. jobs data for April and the yen's weak tone against the U.S. dollar.

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Toyota lifts profit forecast

TOKYO, Japan - Toyota Motor Corp. Senior Managing Officer Takahiko Ijichi holds a news conference in Tokyo on Feb. 5, 2013, on the company's earnings forecast. Toyota raised its group operating profit projection for the business year ending in March to 1.15 trillion yen, up 100 billion yen from its previous estimate, boosted by the yen's depreciation, cost-cutting efforts and improved vehicle sales.

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Shirakawa defends BOJ's monetary policy

NAGOYA, Japan - Bank of Japan Governor Masaaki Shirakawa holds a press conference in Nagoya on Nov. 26, 2012. In a speech he delivered in the central Japanese city earlier in the day, Shirakawa defended the central bank's monetary policy, saying it has helped stem the yen's rise and that more efforts by the government are important in combating deflation.

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Shirakawa defends BOJ's monetary policy

NAGOYA, Japan - Bank of Japan Governor Masaaki Shirakawa delivers a speech in Nagoya on Nov. 26, 2012. Shirakawa defended the central bank's monetary policy, saying that it has helped stem the yen's rise and that more efforts by the government are important in combating deflation.

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Major Japanese manufacturers offer reduced bonuses

TOKYO, Japan - An official of the Japan Council of Metalworkers' Unions writes downs offers received by its member labor unions from management during spring wage negotiations at its office in Tokyo on March 14, 2012. Major Japanese manufacturers offered reduced bonuses the same day for fiscal 2012 starting next month, citing a deterioration in the business environment in the wake of the March 2011 earthquake and the yen's historic strength.

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BOJ chief Shirakawa

NAGOYA, Japan - Bank of Japan Governor Masaaki Shirakawa speaks at a meeting with regional business group officials at a hotel in Nagoya, central Japan, on Nov. 28, 2011. Shirakawa said the Japanese economy is likely to continue to face a ''severe'' situation amid the slowdown in overseas economies and the yen's rapid rise, and that the BOJ will keep pursuing ''powerful monetary easing.''

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Japan steps into currency market

TOKYO, Japan - Japanese Finance Minister Jun Azumi (C) at the Finance Ministry in Tokyo announces Japan's intervention in the currency market on Oct. 31, 2011, to arrest the yen's rapid appreciation. It was the country's first intervention in about three months.

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PM Noda gives policy address

TOKYO, Japan - Prime Minister Yoshihiko Noda (front) makes a policy speech in the Diet's House of Representatives in Tokyo on Oct. 28, 2011. In his second policy address since assuming office in September, Noda expressed his eagerness to take all possible steps to tackle the yen's appreciation but kept mum about whether he believes Japan should join negotiations on the Trans-Pacific Partnership free trade framework.

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PM Noda gives policy address

TOKYO, Japan - Prime Minister Yoshihiko Noda makes a policy speech in the Diet's House of Representatives in Tokyo on Oct. 28, 2011. In his second policy address since assuming office in September, Noda expressed his eagerness to take all possible steps to tackle the yen's appreciation but kept mum about whether he believes Japan should join negotiations on the Trans-Pacific Partnership free trade framework.

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Japan raises strong yen at G-20 finance meeting

WASHINGTON, United States - Japanese Finance Minister Jun Azumi (C) and Bank of Japan Governor Masaaki Shirakawa (L) hold a press conference after attending a finance meeting of the Group of 20 developed and emerging economies in Washington on Sept. 22, 2011. Azumi said he had raised concerns about the negative impact of the yen's recent appreciation on Japan's economic recovery at the meeting but participants did not discuss the issue at length.

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Japan to tackle historic yen surge

TOKYO, Japan - Japanese Finance Minister Jun Azumi leaves a Tokyo hotel on Sept. 4, 2011, after he and three other Cabinet members handling economic issues under new Prime Minister Yoshihiko Noda held a meeting. The ministers agreed to quickly implement measures to stem the yen's historic surge. Azumi said during a television program earlier in the day that he will raise the issue of the strong yen at the forthcoming meeting of finance ministers and central bank governors from the Group of Seven advanced economies.

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Japan to tackle historic yen surge

TOKYO, Japan - Motohisa Furukawa, Japan's economic and fiscal policy minister, answers reporters' questions after he and three other Cabinet members handling economic issues under new Prime Minister Yoshihiko Noda met in Tokyo on Sept. 4, 2011. The ministers agreed to quickly implement measures to stem the yen's historic surge.

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Governors urge gov't to halt yen's rise, deflation

TOKYO, Japan - Japanese governors including Aichi Gov. Hideaki Omura (C), head of a National Governors' Association project team, submit a written request for halting the yen's steep rise and pulling Japan out of deflation to Deputy Chief Cabinet Secretary Tetsuro Fukuyama (R) at the prime minister's office in Tokyo on Aug. 17, 2011.

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Japan steps into forex market to stop yen's rise

TOKYO, Japan - A signboard in Higashishimbashi, Tokyo, shows the dollar trading in the 79 yen level on Aug. 4, 2011, after Japan's monetary authorities intervened in the foreign exchange market to stem the yen's appreciation earlier in the day.

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Japan steps into forex market to stop yen's rise

TOKYO, Japan - Finance Minister Yoshihiko Noda says to reporters at the ministry building in Tokyo on Aug. 4, 2011, that Japan's monetary authorities intervened in the foreign exchange market to stem the yen's appreciation the same day.

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G-7 agrees on coordinated forex intervention

TOKYO, Japan - Japanese Finance Minister Yoshihiko Noda (L center) and Bank of Japan Governor Masaaki Shirakawa (R center) are surrounded by reporters at the Finance Ministry in Tokyo on March 18, 2011, after a conference call with their Group of Seven counterparts. The G-7 agreed to step in the currency market in a coordinated manner to prevent the yen's sharp rise following the March 11 devastating earthquake and tsunami in Japan.

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G-7 agrees on coordinated forex intervention

TOKYO, Japan - Japanese Finance Minister Yoshihiko Noda takes questions from reporters at the Finance Ministry in Tokyo on March 18, 2011, after a conference call with their Group of Seven counterparts the same day. The G-7 agreed to step in the currency market in a coordinated manner to prevent the yen's sharp rise following the March 11 devastating earthquake and tsunami in Japan.

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BOJ weighs monetary easing

TOKYO, Japan - Bank of Japan Governor Masaaki Shirakawa enters the head office of the central bank in Tokyo for the second day of a two-day policy meeting on Oct. 5, 2010. The meeting, which could unveil additional monetary easing steps, came as the yen's strength adds concern about downside risks to the Japanese economy. (Pool photo)

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BOJ weighs monetary easing

TOKYO, Japan - The Bank of Japan holds the second day of its two-day policy meeting on Oct. 5, 2010, discussing possible additional monetary easing steps, as the yen's strength is adding concern about downside risks to the Japanese economy. (Pool Photo)

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Shirakawa says BOJ has great interest in yen's recent rise

OSAKA, Japan - Bank of Japan Governor Masaaki Shirakawa speaks during a news conference in Osaka on Sept. 27, 2010. Shirakawa said that the central bank has ''great interest'' in the yen's appreciation and will take necessary action in a timely and appropriate manner.

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Japan steps into currency market

TOKYO, Japan - An electronic signboard in Tokyo shows the U.S. dollar trading at the 84 yen level, after Japan's monetary authorities intervened in the foreign exchange market in a bid to stem the yen's appreciation against the U.S. dollar, on Sept. 15, 2010. The dollar traded at the upper 82 yen level at one point earlier the same day before the intervention.

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Japan steps into currency market

TOKYO, Japan - Finance Minister Yoshihiko Noda speaks to reporters at the Ministry of Finance in Tokyo on Sept. 15, 2010, after Japan's monetary authorities intervened in the foreign exchange market for the first time since March 2004, in a bid to stem the yen's appreciation against the U.S. dollar.

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BOJ watching impact of yen's rise on Japan economy

TOKYO, Japan - Bank of Japan Governor Masaaki Shirakawa speaks during a press conference in Tokyo on Sept. 7, 2010. Shirakawa said the central bank is carefully watching the impact of the yen's rise on Japan's export-driven economy.

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BOJ watching impact of yen's rise on Japan economy

TOKYO, Japan - Bank of Japan Governor Masaaki Shirakawa leaves after a press conference in Tokyo on Sept. 7, 2010. Shirakawa said the central bank is carefully watching the impact of the yen's rise on Japan's export-driven economy.