TMCnet News
Kyodo economic news summary -3-+(Japan Economic Newswire Via Thomson Dialog NewsEdge)TOKYO, April 3_(Kyodo) _ ---------- Japan's investment in China jumps to record high in 2005 BEIJING - Japanese investment in China in 2005 jumped 19.8 percent from a year earlier to a record-high $6.5 billion, even as investment from the United States and South Korea dropped, a Japanese government-linked trade organization said Monday. Japanese investment grew in the latter half of the year, as companies that had held back due to the anti-Japan demonstrations in April 2005 regained confidence in the Chinese market, said a report by the Japan External Trade Organization's Beijing office. ---------- End of ultra-easy policy passing point to enter new phase: Fukui TOKYO - The termination of the five-year-old ultra-loose monetary policy by the Bank of Japan last month was a key passing point for the Japanese economy to enter a new phase, BOJ Governor Toshihiko Fukui said Monday. Calling the quantitative easing policy an "unusual policy introduced as an emergency measure" to prevent the economy from falling into a deflationary spiral, Fukui said in a speech to new employees at the central bank's head office that the policy shift was yet another important passing point for the Japanese economy to pull out of a predicament and enter a new phase. ---------- Australia, China sign uranium trade deal SYDNEY - Australia and China signed a deal on Monday that paves the way for Beijing to import uranium from Australia for peaceful purposes, including power generation. The deal was concluded during a four-day visit to Australia by Chinese Premier Wen Jiabao. ---------- Fuji to set up 2nd, 3rd LCD part-making plants in Kumamoto Pref. TOKYO - Fuji Photo Film Co. said Monday it plans to invest 70 billion yen to build new factories in Kumamoto Prefecture to manufacture material for liquid crystal display panels in a bid to meet growing demand for LCD TVs ahead of the 2008 Beijing Olympics. The company will start building its second and third factories to produce triacetyl cellulose film, a core part of LCDs, in the town of Kikuyo in the prefecture. The second and third plants will start operations from August 2007 and April 2008, respectively. ---------- Inpex Holdings, combining 2 oil firms, lists on TSE 1st Section TOKYO - Inpex Holdings Inc., which presides over Inpex Corp. and Teikoku Oil Co., went public Monday on the First Section of the Tokyo Stock Exchange as scheduled in a bid to better position itself in an increasingly competitive field of natural resources development by combining the two firms' resources. The stock of the new holding company traded at 1.05 million yen when its trading began before closing the morning session at 1.06 million yen. ---------- Tokyo stocks reach multiyear highs on currency, economic prospects TOKYO - Tokyo stock indexes reached multiyear highs Monday, the first trading day of Japan's new business year that started Saturday, on a combination of the weaker yen against the U.S. dollar and robust sentiment over Japan's economic prospects. Extending its winning streak to seven trading days, the 225-issue Nikkei Stock Average rose 273.65 points, or 1.60 percent, to 17,333.31, for its highest finish since July 12, 2000. |