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Kyodo economic news summary -4-+(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, July 9_(Kyodo) _ ---------- NTT DoCoMo sets up subsidiary in China TOKYO - NTT DoCoMo Inc. said Wednesday it has established a wholly owned subsidiary in Shanghai, China, to provide communications solutions services to Japanese companies in the country. Founded in June, DoCoMo China Co. is capitalized at $4 million and scheduled to begin operations in late July, Japan's biggest mobile phone service provider said. ---------- IHI ordered to pay record penalty for falsified earnings TOKYO - The Financial Services Agency ordered IHI Corp. on Wednesday to pay a record-high penalty surcharge of about 1.6 billion yen ($14.87 million) after the heavy machinery maker submitted falsified earnings reports. The board of IHI has decided to pay the surcharge. ---------- Tokyo stocks rebound, gains modest amid reported Iran missile test TOKYO - Tokyo stocks rebounded Wednesday from the previous day's sharp fall as investors took comfort from an overnight rebound on Wall Street, but early gains were trimmed by the U.S. dollar's depreciation following reported missile tests by Iran. The 225-issue Nikkei Stock Average gained 19.03 points, or 0.15 percent, from Tuesday to 13,052.13. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 2.02 points, or 0.16 percent, to 1,285.53. ---------- Key 10-year JGB yield falls after Iran missile tests TOKYO - The yield on the benchmark 10-year Japanese government bond closed slightly lower Wednesday as investors fled to safe-haven bonds after Japan's key Nikkei stock index trimmed its early gains following reported missile tests by Iran. In interdealer trading, the yield on the No. 294, 1.7 percent issue lost 0.005 percentage point from Tuesday's close to 1.610 percent. Copyright ? 2008 Kyodo News International, Inc. |