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Japan cancels humanitarian aid to disputed islands

MOSCOW, Russia - A Japanese ship is seen anchored off Kunashiri, one of four disputed Russian-held islands, on Jan. 28. The Japanese government decided to cancel humanitarian assistance to the four islands for the remainder of fiscal 2008 through March after Russia demanded the previous day that Japanese officials on board submit arrival cards before disembarking. Russia had not made such a request when Japan delivered aid previously in 2006 and 2007.

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Court dismisses suit by elderly on right to survival

TOKYO, Japan - Plaintiffs in a welfare payment case enter the Tokyo District Court on June 26. The court dismissed a lawsuit filed by 12 welfare recipients who sought to revive an extra welfare payment for the elderly aged 70 and up, citing their constitutional right to a minimum standard of cultured life. The extra payment was abolished in fiscal 2006 that ended in March 2007 due to financial constraints on the central and local governments.

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Sanyo Electric to bolster lithium ion battery output

OSAKA, Japan - Sanyo Electric Co. Board Director Mitsuru Honma says in an interview with Kyodo News on June 4 that the company will bolster output of lithium ion batteries for use in personal computers and other electronics gadgets to grab a 35 percent global market share in fiscal 2007 to next March 31, up from 29 percent in fiscal 2006.

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6 of 9 major life insurers see core profits expand in FY 2006

TOKYO, Japan - Dai-ichi Mutual Life Insurance Co. Executive Director Koichiro Watanabe speaks on the company's business results for fiscal 2006 at a press conference in Tokyo on May 30. Six of Japan's nine major life insurers saw their core operating profits expand in the 2006 business year ended March 31 from a year earlier, supported by improved conditions for their fund management following interest rate hikes by the Bank of Japan.

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6 of 9 major life insurers see core profits expand in FY 2006

TOKYO, Japan - Nippon Life Insurance Co. Executive Director Yoshinobu Tsutsui speaks on the company's financial results for fiscal 2006 at a press conference in Tokyo on May 30. Six of Japan's nine major life insurers saw their core operating profits expand in the business year ended March 31 from a year earlier, supported by improved conditions for their fund management following interest rate hikes by the Bank of Japan.

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Fujiya incurs record group operating loss on scandal

TOKYO, Japan - Yasufumi Sakurai, president of confectionary maker Fujiya Co., listens to a question from a reporter during a press conference in Tokyo on May 24. Sakurai said the company incurred a record group operating loss of 6.66 billion yen in fiscal 2006 due to a scandal involving its use of expired ingredients in cake products.

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5 of 6 top nonlife insurers see drops in FY 2006 profits

TOKYO, Japan - Millea Holdings Inc. Executive Director Tomohiro Kotani (C) speaks at a press conference about the company's business results for fiscal 2006. Five of Japan's six major nonlife insurers saw their net profits decline in fiscal 2006 due to increased insurance payments following a powerful typhoon and risings costs to deal with their nonpayment of legitimate insurance claims.

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Japan Post profit dives 51% on halving of savings division's gains

TOKYO, Japan - Japan Post President Yoshifumi Nichikawa speaks at a press conference in Tokyo on May 23. He said that the company's net profit in fiscal 2006 plunged 51.0 percent from the year before to 947.7 billion yen as net profit from its postal savings section, its biggest division, more than halved to 941.6 billion yen.

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Mitsubishi UFJ reports effective 25.5% fall in FY 2006 net profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi answers media questions during a press conference in Tokyo on May 23. He said Mitsubishi UFJ's group net profit in fiscal 2006 posted an effective 25.5 percent drop from the previous year to 881 billion yen as an extra profit on recovery of loan-loss provisions in the previous year diminished with new provisions made in the year.

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Toyota marks record sales of 24 tril. yen, closing in on GM

TOKYO, Japan - Katsuaki Watanabe, president of Toyota Motor Corp., speaks about the company's group earnings report for fiscal 2006 at a news conference at a hotel in Tokyo on May 9.

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JAL incurs 16.27 bil. yen group net loss in FY 2006

TOKYO, Japan - Tetsuya Takenaka (R), managing director of Japan Airlines Corp., briefs reporters on the company's group earnings report for fiscal 2006 in Tokyo on May 9.

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Toyota marks record sales of 24 tril. yen, closing in on GM

TOKYO, Japan - Katsuaki Watanabe, president of Toyota Motor Corp., speaks about the company's group earnings report for fiscal 2006 at a news conference at a hotel in Tokyo on May 9.

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Toyota marks record sales of 24 tril. yen, closing in on GM

TOKYO, Japan - Katsuaki Watanabe (R), president of Toyota Motor Corp., speaks about the company's group earnings report for fiscal 2006 at a news conference at a hotel in Tokyo on May 9.

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Softbank's full-year revenues top 2 tril. yen for 1st time

TOKYO, Japan - Softbank Corp. President Masayoshi Son, former of the Internet conglomerate, speaks at a news conference in Tokyo on May 8 where he announced that the company's group revenues more than doubled and topped 2 trillion yen for the first time in fiscal 2006, backed by fast-growing mobile phone and Internet services.

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JAL to fall into red in FY 2006 for 2nd year running

TOKYO, Japan - Japan Airlines Corp. Haruka Nishimatsu speaks at a news conference in Tokyo on May 2 where he announced the airline has revised its group earnings forecast for the 2006 business year which ended in March 31 to a net loss of 16.2 billion yen from an earlier projected profit of 3 billion yen. The airline reported a loss of 47.24 billion yen in fiscal 2005.

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Matsushita's FY 2006 sales top 9 trillion yen for 1st time

TOKYO, Japan - Matsushita Electric Industrial Co. President Fumio Otsubo briefs reporters on the company's group earnings report for fiscal 2006 in Tokyo on April 27. Matsushita's group sales surpassed 9 trillion yen for the first time, backed by robust global sales of its flat-panel TVs and a weaker yen.

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Nintendo group net profit for FY 2006 surges 77%

OSAKA, Japan - Nintendo Co. President Satoru Iwata speaks about the company's earnings report for fiscal 2006 and business prospects for fiscal 2007 at a news conference in Osaka on April 26. Nintendo's group net profit surged 77.2 percent from the previous year to 174.29 billion yen on sales of 966.53 billion yen, up 89.8 percent, as its game consoles and software titles sold well.

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Nissan sees 1st annual net profit fall of Ghosn era in FY 2006

TOKYO, Japan - Nissan Motor Co. President and Chief Executive Officer Carlos Ghosn briefs reporters on the company's earnings report for fiscal 2006 in Tokyo on April 26.

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Nissan sees 1st annual net profit fall of Ghosn era in FY 2006

TOKYO, Japan - Nissan Motor Co. President and Chief Executive Officer Carlos Ghosn briefs reporters on the company's earnings report for fiscal 2006 in Tokyo on April 26.

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Sharp revises FY 2006 dividends upward on robust profit growth

OSAKA, Japan - Sharp Corp. President Mikio Katayama speaks at a news conference in Osaka on April 25, where he said the company has revised its fiscal 2006 dividends upward to 26 yen per share from an earlier planned 24 yen, backed by robust profit growth on brisk sales of large liquid crystal display televisions.

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Orient to post 458 bil. yen loss

TOKYO, Japan - Ikuo Kaminishi (R), president of major consumer finance firm Orient Corp., speaks at a news conference in Tokyo on March 6. He said the company will book a group net loss of 457.9 billion yen in fiscal 2006 mainly because it set aside huge provisions to return excessive interest charges to customers.

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Japan's Oct.-Dec. GDP grows annualized 4.8%

TOKYO, Japan - Economic and fiscal policy minister Hiroko Ota speaks during a news conference in Tokyo on Feb. 15 after the government announced that Japan's economy grew for the eighth straight quarter in the October-December period of 2006, expanding at an annualized 4.8 percent in real terms as weak personal spending in the previous quarter rebounded.

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Diet enacts extra budget amid opposition boycott

TOKYO, Japan - The plenary session of the House of Councillors approves a 3.77 trillion yen fiscal 2006 supplementary budget on Feb. 6 amid an opposition party boycott. No extra budget had been enacted in the absence of the opposition parties since 1966.

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Diet enacts extra budget amid opposition boycott

TOKYO, Japan - Prime Minister Shinzo Abe (R) and Foreign Minister Taro Aso bow in appreciation after the plenary session of the House of Councillors approves the supplementary budget for fiscal 2006.

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Ruling bloc gets extra budget through lower house amid boycott

TOKYO, Japan - The plenary session of the House of Representatives approves a fiscal 2006 supplementary budget on Feb. 2 in the absence of the opposition parties, which boycotted budget committee deliberations and the plenary session vote over a gaffe by the health minister.

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Sharp aims to expand FY 2007 global LCD TV sales to 9 mil. units

TOKYO, Japan - Sharp Corp. President Katsuhiko Machida tells a prss conference in Tokyo on Jan. 22 that the Osaka-based company will try to expand its global sales of LCD TVs to 9 million units in fiscal 2007, up from its estimated sales of 6 million in fiscal 2006, by reinforcing its production capacity in Japan, Mexico and Poland.

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Sharp aims to expand FY 2007 global LCD TV sales to 9 mil. units

TOKYO, Japan - Sharp Corp. President Katsuhiko Machida introduces a new 108-type liquid crystal display TV set at a prss conference in Tokyo on Jan. 22. He said that the Osaka-based company will try to expand its global sales of LCD TVs to 9 million units in fiscal 2007, up from its estimated sales of 6 million in fiscal 2006, by reinforcing its production capacity in Japan, Mexico and Poland.

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Finance Ministry to propose 82.91 trillion yen budget for FY 2007

TOKYO, Japan - Finance Minister Koji Omi presides over a meeting of his ministry officials called to discuss a draft of the state budget for fiscal 2007 on Dec. 19. The ministry is set to propose a draft budget totaling 82.91 trillion yen, up from 79.69 trillion yen initially projected for the fiscal 2006 budge.

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Core profit at Japan's 9 big life insurers hits record high

TOKYO, Japan - Dai-ichi Mutual Life Insurance Co. Executive Director Koichi Watanabe speaks at a press conference in Tokyo on Nov. 27 on the group's business results for the first half of fiscal 2006. The combined core operating profit at Japan's nine major life insurers hit a record high for the April-September period, supported by the solid stock market and rising returns from bond investment.

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Core profit at Japan's 9 big life insurers hits record high

TOKYO, Japan - Nippon Life Insurance Co. Vice President Takeo Nii speaks at a press conference in Tokyo on Nov. 27 on the group's business results for the first half of fiscal 2006. The combined core operating profit at Japan's nine major life insurers hit a record high for the April-September period, supported by the solid stock market and rising returns from bond investment.

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Gov't panel endorses draft of FY 2007 budget policy

TOKYO, Japan - Economic and fiscal policy minister Hiroko Ota speaks at a press conference on a draft of the budget policy for fiscal 2007 approved by the Council on Economic and Fiscal Policy on Nov. 24. The draft aims to trim the new issuance of government bonds from 29.97 trillion yen in the initial budget for fiscal 2006.

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Gov't panel endorses draft of FY 2007 budget policy

TOKYO, Japan - Prime Minister Shinzo Abe (L) addresses a meeting of his key economic policy panel, the Council on Economic and Fiscal Policy, flanked by economic and fiscal policy minister Hiroko Ota at the prime minister's official residence on Nov. 24. The panel approved a draft of the budget policy for fiscal 2007 aimed at trimming the new issuance of government bonds from 29.97 trillion yen in the initial budget for fiscal 2006.

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Sumitomo Mitsui's 1st-half group net profit dives 37.9%

TOKYO, Japan - Teisuke Kitayama, president of Sumitomo Mitsui Financial Group Inc., speaks about the company's earnings report for the first-half of fiscal 2006 at the Bank of Japan's head office in Tokyo on Nov. 22.

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Resona's 1st-half net profit rockets on tax effects accounting

TOKYO, Japan - Resona Holdings Inc. President Eiji Hosoya briefs reporters on the company's earnings report for the first-half of fiscal 2006 at the Bank of Japan's head office in Tokyo on Nov. 22.

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Mizuho Financial's 1st-half net profit rises 15.9%

TOKYO, Japan - Terunobu Maeda, president of Mizuho Financial Group Inc., briefs reporters about the group's earnings report for the first half of fiscal 2006 at a news conference at the Bank of Japan's head office in Tokyo on Nov. 20.

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Mitsubishi UFJ Financial's net profit totals 507.3 bil. yen

TOKYO, Japan - Nobuo Kuroyanagi, president of Mitsubishi UFJ Financial Group Inc., announces the group's earnings for the first six months of fiscal 2006 at a news conference at the Bank of Japan's head office in Tokyo on Nov. 20.

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Mazda 1st-half group sales, operating profit hit record highs

HIROSHIMA, Japan - Mazda Motor Corp. President Hisakazu Imaki tells a press conference in Hiroima on Nov. 2 that Mazda's consolidated sales and operating profit for the first half of fiscal 2006 hit all-time highs, driven by brisk sales in the United States and Europe.

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Matsushita sees record 1st-half group sales, 16-year high profit

TOKYO, Japan - Matsushita Electric Industrial Co. President Fumio Otsubo speaks at a press conference in Tokyo on Oct. 27. He said the company's group operating profit in the April-September period of fiscal 2006 jumped 21.2 percent from a year earlier to 207.39 billion yen, its highest level in 16 years, on record sales for any first half.

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Nissan sees 1st operating profit fall in 8 yrs on slack sales

TOKYO, Japan - Nissan Motor Co. President Carlos Ghosn answers a media question at a press conference in Tokyo on Oct. 26. The company said its group operating profit in the first half of fiscal 2006 fell 15.3 percent from a year before to 348.65 billion yen on sluggish sales, marking the first such profit fall since 1998, before Ghosn took the automaker's helm.

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Sharp sees record 1st-half sales on strong large LCD TV demand

OSAKA, Japan - Sharp Corp. President Katsuhiko Machida speak at a press conference in Osaka on Oct. 25. The company said its group sales in the April-September first half of fiscal 2006 gained 9.7 percent from a year earlier to an all-time high of 1.47 trillion yen, helped by strong demand for its Aquos large liquid crystal display TVs.

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Toshiba raises 1st-half group net profit estimate 2.5-fold

TOKYO, Japan - Toshiba Corp. President Atsutoshi Nishida briefs reporters on the company's earnings estimate for the first half of fiscal 2006 at the head office in Tokyo on Oct. 17.

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mitsubishi UFJ Financial Group Inc. President Nobuo Kuroyanagi (3rd from right) speaks at a press conference on May 22 on the group's business results for fiscal 2005. The world's largest banking group reported more than 1 trillion yen ($8.87 billion) in consolidated net profit for the year to March 31, 2006.

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MUFG's net profit tops 1 tril. yen, Mizuho logs record profit

TOKYO, Japan - Mizuho Financial Group Inc. President Terunobu Maeda announces his group's business results for fiscal 2005 at a press conference in Tokyo on May 22. Japan's second largest financial group booked a record-high net profit for the year to March 31, 2006.

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Seibu group to spend 20 bil. yen on makeover of Prince Hotels

TOKOROZAWA, Japan - Takashi Goto, president of Seibu Holdings Inc., holder of the Seibu group, speaks at a press conference at the company head office in Tokorozawa near Tokyo on March 27. He said the company will spend a total of 20 billion yen in fiscal 2006 and 2007 to renovate the group's Price Hotels chain.

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Japan's 79 tril. yen FY 2006 budget clears parliament

TOKYO, Japan - Prime Minister Junichiro Koizumi bows by way of expressing his appreciation as the government's 79.69 trillion yen budget for fiscal 2006 clears parliament with the backing of his ruling coalition. At left is Finance Minister Sadakazu Tanigaki. With the approval of the budget, lawmakers will now shift their focus to crafting a blueprint to revamp the nation's revenue and expenditure structures as a way of restoring its debt-ridden finances, the worst among major industrialized nations.

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Japan's 79 trillion yen FY 2006 budget clears parliament

TOKYO, Japan - Prime Minister Junichiro Koizumi speaks at a press conference at his office after his administration's 79.69 trillion yen budget for fiscal 2006 cleared parliament on March 27. ''Now that the budget's passage during the (current) fiscal year is realized, I will work for its smooth implementation from April to consolidate the economic recovery,'' Koizumi said, adding, ''I'd like to aim to get it out of deflation as soon as possible.''

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Japan's 79 trillion yen FY 2006 budget clears parliament

TOKYO, Japan - Prime Minister Junichiro Koizumi speaks at a press conference at his office after his administration's 79.69 trillion yen budget for fiscal 2006 cleared parliament on March 27.

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Lower house approves 79 tril. yen FY 2006 budget

TOKYO, Japan - Prime Minister Junichiro Koizumi (R) and Finance Minister Sadakazu Tanigaki bow after the 79.69 trillion yen fiscal 2006 budget passed the House of Representatives.

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Japan to pull out of deflation in FY 2006: gov't

TOKYO, Japan - Prime Minister Junichiro Koizumi presides over his Cabinet session at his office on Jan. 20, flaked by Foreign Minister Taro Aso (L) and Finance Minister Sadakazu Tanigaki (R). The Cabinet endorsed the government's economic outlook for fiscal 2006, which projects the nation's economy will pull out of deflation during the year with the nominal growth rate outpacing the real growth rate for the first time since fiscal 1999.

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Japan's Cabinet OKs 79.69 tril. yen budget for FY 2006

TOKYO, Japan - Finance Minister Sadakazu Tanigaki speaks during a news conference at his ministry on Dec. 24 after the the Cabinet approved a 79,686.02 billion yen national budget for fiscal 2006, down 3.0 percent from the initial budget for the current fiscal year and moving below 80 trillion yen for the first time in eight years.