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Fish stocks in decline

TOKYO, Japan - A January 2004 file photo shows a catch of Alaska pollack in the town of Rausu, Hokkaido. Japan's Fisheries Agency has reported low stocks of 36 of 85 major fish species in waters near Japan in fiscal 2013, including some 10 subject to a catch reduction recommendation.

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Kuwashima named as new president of Nikko Cordial

TOKYO, Japan - Nikko Cordial Corp. said Dec. 25 it has decided to appoint Chief Information Technology Officer Shoji Kuwashima (file photo) as its president effective Dec. 26 to replace Junichi Arimura who is stepping down to take responsibility for the falsification of group earnings for fiscal 2004.

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) apologize for the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25.

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) speak on the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25. The two executives will step down to take responsibility for the falsification.

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Securities watchdog seeks 500 mil. yen fine on Nikko

TOKYO, Japan - Nikko Cordial group Vice President Hiroaki Sugioka speaks during a news conference in Tokyo on Dec. 18 as Japan's securities authorities the same day recommended a largest-ever fine of 500 million yen against Nikko Cordial Corp. for falsifying its group's financial statement for fiscal 2004.

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Yahoo Japan sets new highs in FY 2005 revenue, net profit

TOKYO, Japan - Yahoo Japan Corp. President Masahiro Inoue speaks at a press conference in Tokyo on April 20. The company said it set new highs in both group operating revenues and net profit in fiscal 2005, breaking the previous records set in fiscal 2004, thanks to increased advertising and other revenues on the expanded use of the Internet.

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JR West has 46 cases of ATS activation due to driving error

TOKYO, Japan - Transport minister Kazuo Kitagawa (R) receives an interim report on the April 25 fatal derailment on JR West's Fukuchiyama Line from Aircraft and Railway Accidents Investigation Commission Chairman Junzo Sato on Sept. 6. The reports said that West Japan Railway Co. trains experienced 46 incidents of an advanced automatic train stop system being activated due to driving errors or other reasons in fiscal 2004.

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Mitsubishi Tokyo suffers 39.7% fall in net profit for FY 2004

TOKYO, Japan - Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi tells a press conference on May 25 that group net profit fell 39.7 percent in fiscal 2004 from a year earlier to 338.42 billion yen due to growing bad-loan disposal costs.

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UFJ books 554 bil. yen loss in FY 2004 on hefty credit costs

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi speaks at a press conference in Tokyo on May 25. The banking group said it incurred a group net loss of 554.53 billion yen in fiscal 2004, worse than the previous year's 402.81 billion yen loss, as it accelerated bad-loan disposal.

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Kansai Int'l Airport posts 1st profit in FY 2004

OSAKA, Japan - Kansai International Airport President Atsushi Murayama tells a press conference at the airport on May 25 that his corporation climbed into the black, with a consolidated net profit of 4.3 billion yen in fiscal 2004, for the first time since it opened in September 1994.

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Japan Post's mail service makes profit for 2nd straight year

TOKYO, Japan - Japan Post President Masaharu Ikuta briefs reporters on his corporation's business results for fiscal 2004 at a press conference on May 25. Japan Post's mail delivery service made a profit for the second straight year in the year, a result expected to help those against the government's plan to privatize the public entity.

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NTT sees 1st revenue, profit falls since 1985 privatization

TOKYO, Japan - Nippon Telegraph and Telephone Corp. President Norio Wada (L) says May 12 in Tokyo his company incurred group operating revenue and profit falls in fiscal 2004 for the first time since its 1985 privatization, due to a drop in its mobile phone unit's revenue.

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Toyota announces record group earnings for FY 2004

TOKYO, Japan - Toyota Motor Corp. President Fujio Cho (L) winds up his press conference at a Tokyo hotel on May 10 after announcing the group's business results for fiscal 2004. The automaker reported record group earnings for the year as global sales expanded 10.3 percent from the previous year to an all-time high of 7,408,000 units.

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Mazda posts record group net, operating profits in FY 2004

HIROSHIMA, Japan - Kazuhide Watanabe, chairman of Mazda Motor Corp., speaks to reporters about the company's earning report for fiscal 2004 at a hotel in Hiroshima on April 28.

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Daiei posts 511 bil. yen group net loss on restructuring costs

TOKYO, Japan - Daiei Inc. Acting President Yoshiaki Takahashi speaks at a press conference in Tokyo on April 15. The ailing supermarket chain operator said it fell into the red in fiscal 2004 with a group net loss of 511.20 billion yen as it booked the costs it expects to see in large-scale restructuring from 2005 as a loss ahead of time.

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Japan, China exchange notes on FY 2004 yen loans

BEIJING, China - Japanese Ambassador to China Koreshige Anami (L) and Chinese Vice Foreign Minister Wu Dawei shake hands at the Diaoyutai state guesthouse in Beijing on March 29 after exchanging notes on low-interest yen loans from Japan for fiscal 2004.

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Sanyo revises earnings forecasts down, not to pay dividend

OSAKA, Japan - Sanyo Electric Co. President Yukinori Kuwano tells a press conference in Osaka on March 23 that the company has revised downward its earnings forecasts for fiscal 2004 ending March 31 and will not pay a dividend for the end of the year.

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Japan's economy shrinks 0.1% in Oct.-Dec. qtr

TOKYO, Japan - Economic and fiscal policy minister Heizo Takenaka speaks to reporters after the government announced Japan's economy shrank 0.1 percent in real terms in the 2004 October-December period from the previous quarter, down for the third straight quarter.

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Daiei to incur net group loss of 510 bil. yen in FY 2004

TOKYO, Japan - Toshio Hasumi, president of Daiei Inc., speaks to reporters about the company's group earning forecast for fiscal 2004 ending on Feb. 28.

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Koizumi eyes FY 2005 defense budget being no bigger than FY 2004's

TOKYO, Japan - Prime Minister Junichiro Koizumi speaks at the House of Councillors Audit Committee in the Diet on Dec. 2. He said fiscal 2005 defense budget will be no bigger than the current fiscal 2004 budget of about 4.9 trillion yen.

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Mitsubishi Tokyo's group net profit drops 43% in fiscal 2004 1st half

TOKYO, Japan - Mitsubishi Tokyo Financial Group Inc. President Nobuo Kuroyanagi speaks at a press conference in Tokyo on Nov. 24. The company said its group net profit dropped 43.1 percent in the fiscal first half from a year earlier to 171.68

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UFJ Holdings posts 674 billion yen net loss in fiscal 2004 1st half

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi speaks in reply to media questions at a press conference in Tokyo on Nov. 24. The company reported a group net loss of 674.28 billion yen in the fiscal first half, a reversal from a 179.85 billion yen profit a year earlier, due to massive bad-loan disposal costs.

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Sanrio to get 20 bil. yen aid from Tokyo-M'bishi, 4 others

TOKYO, Japan - Sanrio Co. President Shintaro Tsuji (R) tells a press conference in Tokyo on Nov. 18 that the company will issue about 20 billion yen worth of new shares to the Bank of Tokyo-Mitsubishi and other firms to prop up its capital base, which has been undermined by an expected 21.9 billion yen extraordinary loss on its theme park facilities in the first half of fiscal 2004.

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Matsushita Electric's group net profit more than doubles in 1st half

TOKYO, Japan - Matsushita Electric Industrial Co. President Kunio Nakamura replies to a reporter at a press conference in Tokyo on Oct. 28. The consumer electronics giant said its group net profit more than doubled in the first half of fiscal 2004, aided by cost cuts and brisk sales of flat televisions and digital cameras.

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UFJ Holdings to incur 780 bil. yen interim net loss

TOKYO, Japan - UFJ Holdings Inc. President Ryosuke Tamakoshi (L) speaks as UFJ Bank President Takamune Okihara listens at a press conference in Tokyo on Sept. 10. UFJ Holdings said it expects to book a group net loss of 780 billion yen in the April-September first half of fiscal 2004 as it will clean up its books before its planned merger with Mitsubishi Tokyo Financial Group Inc. in October 2005.

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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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Toyota's group net profit up 28.8% in April-June qtr

NAGOYA, Japan - Toyota Motor Corp. Executive Vice President Ryuji Araki said at a news conference Aug. 3 in Nagoya the company's group net profit in the first quarter of fiscal 2004 was up 28.8 percent from a year earlier, as higher overseas sales more than offset a stronger-than-expected yen.

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Yoshinoya to slip into red in FY 2004 on sales decline

TOKYO, Japan - Shuji Abe, president of Yoshinoya D&C Co., Japan's No. 1 chain serving ''gyudon'' beef-on-rice dishes, said in Tokyo on June 30 the company now expects a consolidated net loss of 1.88 billion yen in fiscal 2004, a setback from its earlier forecast of a 3.16 billion yen net profit, because of dwindling sales.

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Sony to see fixed costs fall 88 bil. yen in FY 2004

TOKYO, Japan - Sony Corp. Chairman Nobuyuki Idei briefs reporters at a hotel in Tokyo on May 19 on the company's business policy for fiscal 2004.

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(2)FY 2004 budget passed, focus shifts to pension reforms

TOKYO, Japan - Prime Minister Junichiro Koizumi speaks to reporters at the prime minister's office in Tokyo on March 26 after the government-proposed budget for fiscal 2004 cleared the Diet.

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(1)FY 2004 budget passed, focus shifts to pension reforms

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) and his cabinet ministers bow at a plenary session of the House of Councillors on March 26 after the upper house approved the government-proposed 82.11 trillion yen budget for fiscal 2004. The House of Representatives already passed the budget earlier this month.

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(1)FY 2004 budget approved by lower house

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) and Finance Minister Sadakazu Tanigaki bow in appreciation at the Diet in Tokyo on March 5 after a plenary session of the House of Representatives approved the government-proposed 82.11 trillion yen draft budget for fiscal 2004.

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(2)FY 2004 budget approved by lower house

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) shakes hands with Tetsuzo Fuyushiba, secretary general of the New Komeito party, the coalition partner of Koizumi's Liberal Democratic Party, at the Diet in Tokyo on March 5 after the House of Representatives approved the budget plan for fiscal 2004 in a plenary session. Takenori Kanzaki, New Komeito leader, stands between them.

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NEC to sell plasma-display unit to Pioneer

TOKYO, Japan - NEC Corp. President Akinobu Kanasugi (L) and Pioneer Corp. President Kaneo Ito shake hands at a news conference at a Tokyo hotel on Feb. 3. They said Pioneer will acquire in fiscal 2004 all outstanding shares in NEC Plasma Display Corp., a producer of plasma-display panels wholly owned by NEC. At present, Pioneer and NEC both have about 10% of the global plasma-display market.

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Cabinet OKs 82.11 tril. yen budget for FY 2004

TOKYO, Japan - Finance Minister Sadakazu Tanigaki speaks at a press conference after the cabinet approved an 82,110.9 billion yen state budget for fiscal 2004 on Dec. 24. Austerity budget featured cuts in major policy programs and the issuance of a record amount of debt to finance swelling social security and debt-servicing costs.

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Finance Ministry eyes 82.11 tril. yen FY 2004 budget

TOKYO, Japan - Finance Minister Sadakazu Tanigaki speaks at a press conference at the Finance Ministry about the ministry's budget plan for fiscal 2004.

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(2)Japan decides to introduce missile defense shield

TOKYO, Japan - Defense Agency Director General Shigeru Ishiba walks into the prime minister's office to attend a session of the Security Council on Dec. 19. The cabinet decided to introduce a missile defense shield in fiscal 2004 to deal chiefly with the possibility of ballistic missile attacks from North Korea.

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Coalition eyes higher tax on elderly in FY 2004

TOKYO, Japan - Yuji Shimazu (R), chairman of the Liberal Democratic Party's tax research council, speaks at a news conference at the party headquarters on Dec. 17. He unveiled a tax plan for fiscal 2004 that will toughen taxation on the elderly and raise a portion of the local income tax to secure more revenues for the debt-ridden public coffers.

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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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Koizumi vows more reforms, postal privatization

TOKYO, Japan - Prime Minister Junichiro Koizumi delivers a key policy speech in the Diet on Sept. 26. He promised to carry out more structural reforms, resolve Japan's bad-loan woes in fiscal 2004 and privatize its postal services in 2007.

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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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Skynet Asia intends to eliminate excess debt in FY 2004

MIYAZAKI, Japan - Skynet Asia Airways Co. President Shoji Shimoda speaks at a news conference in Miyazaki on June 27. He said the fledgling airline intends to post its first black-ink figures and clear away its excess debt in fiscal 2004 ending March 31, 2005.

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(1)Hokuriku Bank, Hokkaido Bank to merge in FY 2004

SAPPORO, Japan - Hokkaido Bank President Tsuneo Fujita speaks at a news conference at his office in Sapporo on May on an agreement with Hokuriku Bank to integrate their businesses under a joint holding company in fiscal 2004. The merger will creatie Japan's second largest regional bank in terms of deposits after the Bank of Yokohama.

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(2)Hokuriku Bank, Hokkaido Bank to merge in FY 2004

TOYAMA, Japan - Hokuriku Bank President Shigeo Takagi gives a press conference at his office in Toyama on May 23 on an agreement with Hokkaido Bank to integrate their businesses under a joint holding company in fiscal 2004. The merger will create Japan's second largest regional bank in terms of deposits after the Bank of Yokohama.

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Tokyo metropolitan gov't to start new bank in FY 2004

TOKYO, Japan - Tokyo Governor Shintaro Ishihara gives a news conference at his office May 23 to outline his government's plan to launch a new bank in fiscal 2004 to provide funds to small and midsize businesses.

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Okuda urges gradual increase in consumption tax rate to 16%

TOKYO, Japan - Hiroshi Okuda, chairman of the Japan Business Federation (Nippon Keidanren), delivers a speech at a Kyodo News-sponsored event at Japan National Press Club in Tokyo on Nov. 26. Okuda proposed hiking the rate of the consumption tax from the current 5% to 16% from fiscal 2004 through fiscal 2014 to stabilize Japan's finances.

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Mazda to revamp truck division, close Hiroshima plant

HIROSHIMA, Japan - Mazda Motor Corp. President Lewis Booth announces in a news conference in Hiroshima on Oct. 21 a reorganization plan for its truck and van division from fiscal 2004. Under the plan, Mazda will close its Fuchu plant in Hiroshima Prefecture and shift truck production there to its Ujina plant in the prefecture, which is to be reopened after being closed down last year.

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Koizumi addresses Japan-U.S. Business Council

TOKYO, Japan - Prime Minister Junichiro Koizumi (at the rostrum) addresses the Japan-U.S. Business Council in Tokyo on Oct. 21. He reiterated that his government will fix the bad-loan problem by fiscal 2004.

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Shiokawa shows off 3 new banknotes

TOKYO, Japan - Finance Minister Masajuro Shiokawa holds specimens of new 10,000 yen, 5,000 yen and 1,000 yen bills to be issued in fiscal 2004 at a news conference at his office Aug. 2. ''If new bills come out, it will brighten people's sentiment,'' Shiokawa said.

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Japan to issue 3 new bank notes in FY 2004

TOKYO, Japan - The Japanese government will introduce in fiscal 2004 new 10,000 yen, 5,000 yen and 1,000 yen bills with sophisticated anticounterfeit features, replacing the current notes which are almost 18 years old. The new 5,000 yen bill will carry the portrait of Ichiyo Higuchi (1872-1896), a Meiji-era novelist and poet, while the new 1,000 yen bill will feature Japanese microbiologist Hideyo Noguchi (1876-1928). Yukichi Fukuzawa, a Meiji-era educator who founded Keio University, will remain on the new 10,000 yen bill.