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Kyodo economic new summary -3-+
(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, March 4 -- (Kyodo) _ ---------- BOJ purchase of state debt may cause adverse effects: BOJ's Noda
OTSU, Japan - Bank of Japan Policy Board member Tadao Noda said Thursday the central bank needs to be "careful" about increasing its buying of government bonds as there is a "risk" that the BOJ's purchase may be mistaken for debt monetization and lead to an unreasonable increase in long-term interest rates.
Referring to a frequently asked question of whether the BOJ is increasing its purchase of state debt as a means of easing its monetary policy, Noda said in a speech in Otsu, Shiga Prefecture, "What we need to be careful about in this regard is that there is a risk that the Bank of Japan's purchase of long-term government bonds may be misunderstood as funding public finances."
---------- NEC to triple hiring of college graduates next year
TOKYO - NEC Corp. said Thursday it will hire 300 university graduates in April next year, up from 100 this spring, to expand its advanced information solutions business and overseas operations.
The major electronics maker also said it will employ 150 mid-career workers in the next year through March 2011 whereas it took on none during the current fiscal year.
---------- Dollar hits 3-month low vs. yen on selling by Japanese exporters
TOKYO - The U.S. dollar fell to a three-month low in the lower 88 yen level Thursday in Tokyo on selling by Japanese exporters ahead of the fiscal year-end, while the euro erased early gains made on easing concerns over Greece's fiscal problem.
At 5 p.m., the dollar fetched 88.39-41 yen versus 88.40-50 yen in New York and 88.77-80 yen in Tokyo at 5 p.m. Wednesday.
---------- Mister Donut, Mos Burger chains to open joint restaurant in Hiroshima
TOKYO - Fast-food restaurant chains Mister Donut and Mos Burger will launch their first joint restaurant in Hiroshima Prefecture next month, the operators of the chains said in a joint statement on Thursday.
The new restaurant, called MOSDO, will open inside Aeon Mall Co.'s shopping mall in the town of Fuchu on April 23, said Duskin Co., operator of the Mister Donut doughnut restaurant chain, and Mos Food Services Inc., which operates the Mos Burger hamburger restaurant chain.
---------- Marlboro prices in Japan to be raised by 20 yen per pack in June
TOKYO - The retail price of a pack of Marlboro and all other cigarette brands of Phillip Morris Japan KK will be raised by 20 yen from June 1, the Finance Ministry said Thursday.
The ministry, which oversees the tobacco industry in Japan, approved the price hikes, Vice Finance Minister Yoshihiko Noda said at a news conference.
---------- Tokyo stocks close lower on selling for profit, stronger yen
TOKYO - Tokyo stocks closed lower Thursday as investors scrambled to unload shares for quick profits after a four-day winning streak and the yen's uptrend against the U.S. dollar dented market sentiment for exporters.
The 225-issue Nikkei Stock Average fell 107.42 points, or 1.05 percent, from Wednesday to 10,145.72. The broader Topix index of all First Section issues on the Tokyo Stock Exchange lost 8.01 points, or 0.88 percent, to 897.64.
---------- Key 10-year JGB yield closes lower
TOKYO - The yield on the benchmark 10-year Japanese government bond fell Thursday from the previous trading day amid a tentative mood.
The yield on the No. 306, 1.4 percent issue, a key indicator of long-term interest rates, ended interdealer trading down 0.005 percentage point from Wednesday's close to 1.325 percent.
(c) 2010 Kyodo News International, Inc.
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