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Dismantling Fugen nuclear reactor

TSURUGA, Japan - A worker engages in work to dismantle the Fugen prototype nuclear reactor, shut down permanently in 2003, in a shielded area to prevent radiation leakage in Tsuruga, Fukui Prefecture, on Feb. 10, 2012. The Japan Atomic Energy Agency disclosed part of the dismantling procedures to the media the same day. The decommissioning process, which started in 2008, is expected to be completed in fiscal 2028.

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Sanyo Electric to correct earnings reports from FY 2000 to 2003

OSAKA, Japan - The head office of Sanyo Electric Co. in Moriguchi, Osaka Prefecture. The electronics maker said Feb. 27 it is considering correcting its unconsolidated earnings reports from fiscal 2000 to 2003 without waiting for an order to do so from financial authorities.

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JAL posts 1st interim group net loss since FY 2003

TOKYO, Japan - Japan Airlines Corp. executive Haruka Nishimatsu (L) said in Tokyo on Nov. 7 its group business sank into the red in the six months to Sept. 30 for the first time since fiscal 2003, as the airline was hit by high fuel costs and a decline of passengers following a series of air safety problems.

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Kanebo in negative net worth at least in past 5 fiscal years

TOKYO, Japan - Kanebo Ltd. Chairman Akiyoshi Nakajima tells a press conference in Tokyo on April 13 that the company had been in negative net worth on a consolidated basis for five years from fiscal 1999 to fiscal 2003 as its former management falsified reports by such accounting fraud as inflating sales and underreporting expenses.

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Sanyo Shinkansen bullet train marks 30th anniversary

OSAKA, Japan - A bullet train on the Sanyo Shinkansen Line leaves Shin-Osaka Station on March 10 after a ceremony marking the 30th anniversary of the opening of the line. The number of passengers on the line, which connects Osaka and Fukuoka, was 57 million in fiscal 2003.

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Gov't failed to collect 43 bil. yen in taxes: audit board

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) receives the fiscal 2003 audit of state finances from Board of Audit Commissioner Nobuaki Morishita at his office in Tokyo on Nov. 9. The government wasted or failed to collect about 43 billion yen in taxes in the year, the second-largest sum on record following 51 billion yen in fiscal 1980.

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Mitsubishi Motors' net loss widens in April-June qtr

TOKYO, Japan - Mitsubishi Motors Corp. President Hideyasu Tagaya (C) speaks at a press conference in Tokyo on Aug. 4. The scandal-tainted automaker reported a group net loss of 54.69 billion yen in the first quarter of fiscal 2004, a larger loss than the 51.14 billion yen the same period of 2003.

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Japan raises FY 2004 GDP growth forecast to 3.5% from 1.8%

TOKYO, Japan - Prime Minister Junichiro Koizumi (L) and economic and fiscal policy minister Heizo Takenaka attend a meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office in Tokyo on July 21. The Cabinet Office submitted to the council a report revising the economic growth forecast for fiscal 2003 upward to 3.5 percent in real terms.

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Nissan to double annual dividend payment in 4 years

TOKYO, Japan - Nissan Motor Co. President Carlos Ghosn presides over the company's general shareholders' meeting in Tokyo on June 23. Nissan said it plans to pay an annual dividend of no less than 40 yen per share in fiscal 2007, more than double the 19 yen to be paid in fiscal 2003 ended March 31.

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Ashikaga Bank incurs 679 bil. yen negative net worth

UTSUNOMIYA, Japan - Nationalized Ashikaga Bank President Norito Ikeda tells reporters in Utsunomiya, Tochigi Prefecture, on June 11 that the bank developed a negative net worth of 679.0 billion yen in fiscal 2003 due to a surge in loan-loss charges stemming mainly from stricter assessment of the performances of its corporate borrowers.

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UFJ Holdings reports 402 bil. yen net loss for FY 2003

TOKYO, Japan - UFJ Holdings Inc. President Takeshi Sugihara briefs reporters on the UFJ group's earnings report for fiscal 2003 at the head office of the Bank of Japan in Tokyo on May 24.

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Mitsubishi Tokyo Financial returns to black in FY 2003

TOKYO, Japan - Shigemitsu Miki (C), president of Mitsubishi Tokyo Financial Group Inc., briefs reporters on the group's earnings report for fiscal 2003 at the head office of the Bank of Japan in Tokyo on May 24.

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NTT posts record profit, revenues

TOKYO, Japan - Nippon Telegraph and Telephone Corp. President Norio Wada speaks at a press conference after announcing fiscal 2003 financial result on May 14. NTT set new highs in group operating revenues and net profit in the fiscal year to March 31 thanks to the strong performance of its mobile phone unit, which more than offset a decrease in revenues from its fixed-line telecommunications business.

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Strong overseas results boost Mazda's group net profit

HIROSHIMA, Japan - Mazda Motor Corp. Vice President John G Parker speaks at a news conference on his company's business strategy in China. The automaker said earlier in the day its group net profit for fiscal 2003 jumped 40.5 percent from the previous year to 33.90 billion yen on robust overseas sales.

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Strong overseas results boost Mazda's group net profit 40.5%

HIROSHIMA, Japan - Kazuhide Watanabe, chairman of Mazda Motor Corp., briefs reporters at a hotel in Hiroshima on May 13 about the company's group earnings report for fiscal 2003.

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Toyota becomes 1st Japan firm with over 1 tril. yen net profit

NAGOYA, Japan - Toyota Motor Corp. President Fujio Cho smiles May 11 in announcing in Nagoya that the company posted a record-high consolidated net profit of 1.16 trillion yen in fiscal 2003, becoming the first Japanese company to achieve a net profit exceeding 1 trillion yen.

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NEC's group net balance returns to black in FY 2003

TOKYO, Japan - NEC Corp. President Akinobu Kanasugi smiles as he announced the group's earnings results for fiscal 2003 at a news conference in Tokyo on April 28. NEC said its group net balance swung into the black due partly to buoyant sales of cellphones and optical disk drives.

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Matsushita scores 1st group net profit in 3 yrs in FY 2003

TOKYO, Japan - Matsushita Electric Industrial Co. President Kunio Nakamura speaks at a press conference at a Tokyo hotel on April 28. The company said it swung into the black on a group net basis in fiscal 2003 for the first time in three years, getting its recovery efforts on track.

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Sony posts 23.4% profit fall on restructuring costs

TOKYO, Japan - Takao Yuhara, executive of Sony Corp. and chief financial officer of the Sony group, briefs reporters at a hotel in Tokyo on April 27 on the company's group earnings report for fiscal 2003.

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Nissan's FY 2003 profits, sales rise to record highs

TOKYO, Japan - Nissan Motor Co. President Carlos Ghosn briefs reporters at a Tokyo hotel April 26 about the company's group earning report for fiscal 2003.

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Retailer Daiei reports improved profitability for FY 2003

TOKYO, Japan - Kunio Takagi, president of Daiei Inc., briefs reporters on the company's group earnings report for fiscal 2003 at the Tokyo Stock Exchange on April 16.

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Yoshinoya net profit down 33% in FY 2003

TOKYO, Japan - Shuji Abe, president of ''gyudon'' chain Yoshinoya D&C Co., said in Tokyo April 9 the firm's consolidated net profit fell 33.8% in fiscal 2003 from the previous year to 5.69 billion yen. Yoshinoya stopped serving the beef-on-rice dish Feb. 11 after its beef stocks ran out due to Japan's import ban on U.S. beef.

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Matsushita posts robust results, raises full-year outlook

TOKYO, Japan - Matsushita Electric Industrial Co. Executive Director Tetsuya Kawakami announced earning results for the first three quarters of fiscal 2003 at a press conference in Tokyo on Feb. 6. The company posted double-digit profit growth on the strength of brisk sales of digital electronics products.

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(1)Cabinet approves basic policy for FY 2004 budget

TOKYO, Japan - Prime Minister Junichiro Koizumi (2nd from R) listens to Finance Minister Sadakazu Tanigaki (L) speak at a meeting of the Council on Economic and Fiscal Policy on Dec. 5. The council drew up the government's basic policy for the fiscal 2004 budget, which caps general account spending and policy-related expenditures to their levels of the initial fiscal 2003 budget.

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Nippon Life solvency margin ratio up in 1st half

TOKYO, Japan - Mitsuhiro Ishibashi (C), vice president of Nippon Life Insurance Co., briefs reporters on the company's earnings report for the first half of fiscal 2003 at the Bank of Japan's head office in Tokyo Nov. 27.

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Mizuho Financial Group posts interim group net profit

TOKYO, Japan - Mizuho Financial Group Inc. President Terunobu Maeda announces his group's earnings results for the first half of fiscal 2003 at a news conference in Tokyo on Nov. 25. The banking group chalked up a consolidated net profit of 255.40 billion yen on group operating revenues of 1,743.17 billion yen.

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Resona Holdings incurs 1st-half group net loss

TOKYO, Japan - Resona Holdings Inc. Chairman Eiji Hosoya speaks at a news conference in Tokyo on Nov. 25. Resona racked up a group net loss of 1,769.64 billion yen in the first half of fiscal 2003 as it incurred more than 1.30 trillion yen in loan-loss charges.

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Toyota reports record sales, profits in 1st half

NAGOYA, Japan - Toyota Motor Corp. Vice President Takashi Araki briefs reporters on the company's earnings report for the six months ended Sept. 30 at Nagoya Stock Exchange on Nov. 5. Toyota posted record group sales and profits for the first half of fiscal 2003.

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Matsui Securities posts 326.6p in interim net profit

TOKYO, Japan - Matsui Securities Co. President Michio Matsui tells a news conference in Tokyo on Oct. 22 that his company chalked up a consolidated net profit of 2.51 billion yen in the first half of fiscal 2003, up 326.6 the year-before profit of 588 million yen. The major online brokerage house attributed the steep profit growth to active trading on the Tokyo stock market as well as a drop in sales and administrative expenses. Kyodo)

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Nissan posts record interim sales, operating profit

TOKYO, Japan - Nissan Motor Co. President Carlos Ghosn tells reporters in Tokyo on Oct. 16 that the company will book a consolidated operating profit of 401.1 billion yen on sales of 3,556.2 billion yen for the first half of fiscal 2003, both record highs for the April-September period.

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Cabinet Office revises growth forecast upward for FY 2003

TOKYO, Japan - Economy and fiscal policy minister Heizo Takenaka talks with reporters in Tokyo on Sept. 26 after the Cabinet Office revised its economic growth projection for fiscal 2003 upward to 0.1% in nominal terms and 2.1% in real terms. He said brisk corporate spending on plant and equipment is the main reason behind the upward revision.

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Toshiba foresees greater loss for fiscal 1st half

TOKYO, Japan - Toshiba Corp. President Tadashi Okamura speaks at a news conference in Tokyo on Sept. 16. The company has revised its earnings projection downward for the first half of fiscal 2003 and the full year due largely to poor results in its digital products segment.

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Key panel draws up FY 2004 budget guidelines

TOKYO, Japan - Prime Minister Junichiro Koizumi presides over a meeting of his Council on Economic and Fiscal Policy at his office July 29. The panel drew up basic guidelines for the fiscal 2004 budget calling for outlays to be kept to the size of fiscal 2003, clearing one of the first steps in the budget-compiling process for the 2004 fiscal year.

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Mitsubishi Motors to post losses in 1st half

TOKYO, Japan - Mitsubishi Motors Corp. CFO Keiichiro Hashimoto speaks about the company's business results for the April-June first quarter in fiscal 2003 at a press conference in Tokyo on July 24.

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Economic blueprint aims to cut subsidies to localities

TOKYO, Japan - Members of the Council on Economic and Fiscal Policy meet at the prime minister's office in Tokyo on June 26. The government's key economic panel completed an economic blueprint for 2003 which features a major cut in state subsidies to local authorities as part of a plan to revamp the financial link between the central and local governments.

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Draft economic blueprint has little on controversial reforms

TOKYO, Japan - (From L to R) Finance Minister Masajuro Shiokawa, Prime Minister Junichiro Koizumi and economic and fiscal policy minister Heizo Takenaka attend the Council on Economic and Fiscal Policy, the government's key economic panel, on June 12. The council released a draft 2003 economic blueprint calling for tax reforms and spending cuts but leaving out details on the controversial issue of revising money flows between Tokyo and local governments.

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946,000 grads join work force across Japan

TOKYO, Japan - Recruits by All Nippon Airways Co. pose for photographs at Tokyo's Haneda airport on April 1. Around 946,000 graduates joined the workforce on the day, as employers across the nation held ceremonies to welcome them on the first day of fiscal 2003.

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China cuts defense budget growth to 9% for 2003

BEIJING, China - China's Finance Minister Xiang Huaicheng proposes a budget plan for fiscal 2003 to the National People's Congress on March 6. It cuts growth in the defense budget to around 9%, the first single-digit figure in 15 years.

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(3)Lower house clears 81.79 tril. yen FY 2003 budget

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) and Finance Minister Masajuro Shiokawa bow in appreciation after the House of Representatives passed an 81.79 trillion yen state budget for fiscal 2003 in a plenary session March 4, ensuring it will be enacted in time for the new fiscal year starting April 1.

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(1)Lower house clears 81.79 tril. yen FY 2003 budget

TOKYO, Japan - Members of the House of Representatives cast their vote on an 81.79 trillion yen state budget for fiscal 2003 in a plenary session March 4. The powerful lower chamber endorsed the bill, ensuring it will be enacted in time for the new fiscal year starting April 1.

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(2)Lower house clears 81.79 tril. yen FY 2003 budget

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) and members of his cabinet talk to former Prime Minister Ryutaro Hashimoto and other members of his Liberal Democratic Party who walk past the rostrum to vote for an 81.79 trillion yen state budget for fiscal 2003 in a plenary session March 4.

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SMBC voices readiness to recapitalize by end of FY 2002

TOKYO, Japan - Yoshifumi Nishikawa, president of Sumitomo Mitsui Banking Corp. (SMBC), speaks in an interview with Kyodo News in Tokyo on Dec. 30. Nishikawa expressed his readiness to expand his bank's capital base by the March 31, 2003 end of the current fiscal year.

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Gov't adopts 81.79 tril. yen budget for FY 2003

TOKYO, Japan - Finance Minister Masajuro Shiokawa speaks at a news conference after the government adopted an 81,789.1 billion yen budget for fiscal 2003 in a cabinet session Dec. 24.

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81.79 tril. yen budget proposed for FY 2003

TOKYO, Japan - Finance Minister Masajuro Shiokawa speaks at a press conference after the cabinet endorsed the Finance Ministry's 81.79 trillion yen budget plan for fiscal 2003.

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Farm ministry adopts framework of rice policy reforms+

TOKYO, Japan - Farm Minister Tadamori Oshima speaks on a framework of rice policy reforms at a news conference at his ministry Dec. 3. The ministry will seek to cut the size of farmland for rice crops by 50,000 hectares to a record-high 1.06 million hectares in fiscal 2003 on continued falls in demand for rice.

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Tax panel eyes heavier individual taxes, cuts for firms

TOKYO, Japan - Hiromitsu Ishi (L), chairman of the government's Tax Commission, hands to Prime Minister Junichiro Koizumi on Nov. 19 a proposal on a tax reform plan for fiscal 2003. The plan aims at fiscal restraint through a heavier tax burden on individuals but also at boosting the weak economy by cutting some tax items for corporate activities.

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Sakaguchi to seek funds for employment steps in FY 2003 budget

TOKYO, Japan - Health, Labor and Welfare Minister Chikara Sakaguchi speaks at a news conference after jobless statistics for September were released Oct. 29. Sakaguchi said he will ask for more budgetary resources to fund measures to create jobs under the fiscal 2003 state budget.

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Shiokawa eyes 2 tril. yen tax cut

OSAKA, Japan - Finance Minister Masajuro Shiokawa addresses a gathering in Osaka on Aug. 23. Hesaid he thinks a proposed net 1 trillion yen tax cut in fiscal 2003 should be carried out by coupling a tax reduction of 2 trillion yen and a tax hike of 1 trillion yen.

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Cabinet OKs belt-tightening budget framework for FY 2003

TOKYO, Japan - Prime Minister Junichiro Koizumi (C), Finance Minister Masajuro Shiokawa (R) and Land, Infrastructure and Transport Minister Chikage Ogi (L) prepare to attend a cabinet meeting at the premier's office in Tokyo on Aug. 7. The cabinet approved a belt-tightening fiscal 2003 budget request framework that includes a 3% cut in public works spending and a 2% decrease in discretionary outlays, such as foreign aid.

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Panel approves austere budget limit for FY 2003

TOKYO, Japan - Finance Minister Masajuro Shiokawa (L) and Chief Cabinet Secretary Yasuo Fukuda are seated for a meeting of the Council on Economic and Fiscal Policy on Aug. 6 as Prime Minister Junichiro Koizumi walks behind to take his seat. The council approved a belt-tightening fiscal 2003 budget request framework of 48.1 trillion yen in core general expenditures, including a 3% cut in public works spending and a 2% decrease in discretionary outlays such as foreign aid.