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Kyodo economic news summary -4-+
(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Sept. 26_(Kyodo) _ ---------- EU bans China-made children's food amid milk scare
BEIJING - The European Union has banned all children's food from China containing milk, according to a statement issued late Thursday.
The statement from the European Commission also said that all other products containing over 15 percent milk powder from China will be tested after they are imported into Europe.
---------- U.S. returns part of Yokota airspace to Japan under bilateral accord
TOKYO - The United States returned portions of U.S. military-controlled airspace west of Tokyo's Haneda airport to Japan on Friday as part of a 2006 bilateral agreement on the realignment of the U.S. military presence in Japan, the Public Affairs Office of the U.S. forces in Japan said.
The transfer of control from the radar approach control authorities at the U.S. Yokota Air Base in western Tokyo allows commercial planes to take routes at lower altitudes when flying westward from Haneda airport, thus reducing flight time, saving fuel and cost, and cutting carbon dioxide emissions.
---------- Denso cuts profit outlook amid U.S. subprime mortgage crisis
NAGOYA - Japanese auto parts maker Denso Corp. said Friday it has revised downward its net profit outlook for the first half of fiscal 2008 due to disposal of depreciated corporate bonds in light of the U.S. subprime mortgage crisis.
The company, based in Kariya, Aichi Prefecture, now projects 61 billion yen in net profit on a consolidated basis for the first half of the current fiscal year ending March 31, down from its previous estimate of 76 billion yen.
---------- Tokyo stocks slide on skepticism over U.S. bailout plan
TOKYO - Tokyo stocks fell Friday, with the key Nikkei index closing below the 12,000 level for the first time in a week, as investors grew skeptical about whether the U.S. government and Congress could soon reach an accord on the government's financial bailout plan.
The 225-issue Nikkei Stock Average lost 113.37 points, or 0.94 percent, from Thursday to 11,893.16. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.06 points, or 0.53 percent, to 1,147.89.
---------- Real estate developer C's Create files for bankruptcy protection
TOKYO - Real estate developer C's Create Co. filed for bankruptcy protection Friday with the Tokyo District Court under the Civil Rehabilitation Law, the company said.
The Tokyo-based firm, listed on the First Section of the Tokyo Stock Exchange, said it has 11.44 billion yen in liabilities.
---------- Key 10-year JGB yield falls on uncertainty over U.S. bailout plan
TOKYO - The yield on the benchmark 10-year Japanese government bond fell Friday as negotiations between the U.S. government and Congress over a financial bailout plan have yet to produce an agreement, pushing investors to buy safe-haven bonds.
In interdealer trading, the yield on the No. 296, 1.5 percent issue fell 0.015 percentage point from Thursday's close to 1.460 percent.
Copyright ? 2008 Kyodo News International, Inc.
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