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Kyodo news summary -7-(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Aug. 31 -- (Kyodo) _ ---------- Sony, Toshiba, Hitachi agree on small LCD business merger TOKYO - Sony Corp., Toshiba Corp. and Hitachi Ltd. have agreed to integrate their businesses on small and medium-sized liquid crystal display panels for smartphones and tablet computers in the spring of 2012, the companies said Wednesday. The major Japanese electronics makers said they will set up a new company for the move, as they have judged that it is necessary to boost their competitive edge amid growing demand for LCD panels, while facing intense competition from South Korean and Taiwanese manufacturers. ---------- Japan to reveal Wed. evening amount of Aug. forex interventions TOKYO - The government will announce on Wednesday evening the amount of yen spent in August on its foreign exchange interventions aimed at stemming the Japanese currency's sharp rise against the U.S. dollar and other major currencies. Market participants have estimated the Finance Ministry and the Bank of Japan spent 4.5 trillion yen ($58.74 billion). That would be a record high amount if spent intervening on just one day. ---------- Tokyo stocks gain slightly, pressured by weak U.S. data TOKYO - Tokyo stocks gained slightly Wednesday on hopes of further U.S. monetary easing steps, but their upside was capped by persistent concerns over the U.S. economy on news of a drop in U.S. consumer confidence. The 225-issue Nikkei Stock Average finished up 1.30 points, or 0.01 percent, from Tuesday at 8,955.20. The broader Topix index of all First Section issues on the Tokyo Stock Exchange closed 3.30 points, or 0.43 percent, higher at 770.60. ---------- Japan's vehicle output in July falls for 10th consecutive month TOKYO - Japan's vehicle production in July dropped 8.9 percent from a year earlier to 790,325 units to mark the 10th consecutive month of fall, an industry body said Wednesday, but the decline continued to contract as production recovered from the effects of the March 11 disaster. By vehicle type, passenger car output went down 10.4 percent to 669,331 units and that of trucks edged down 1.1 percent to 109,607 units. Bus production increased 17.8 percent to 11,387 units. ---------- Court rules against teachers who refuse to stand during anthem YOKOHAMA - The Yokohama District Court on Wednesday dismissed a damages suit filed by schoolteachers against the prefectural education board for collecting the names of those refusing to stand during national anthem choruses at school ceremonies. A total of 27 plaintiffs, including public senior high school teachers in Kanagawa Prefecture, demanded 1 million yen per person in damages for mental suffering, arguing that the information collection ran counter to a prefectural personal information protection regulation that principally bans authorities' handling of information on personal thoughts and beliefs. ---------- Thai premier vows to work closely with Japan's Noda BANGKOK - Thai Prime Minister Yingluck Shinawatra sent a congratulatory message to Japan's new Prime Minister Yoshihiko Noda on Wednesday, pledging to work closely with the Japanese government under his leadership. In the letter, Yingluck referred to a long relationship between the two countries, saying "centuries of close ties" reflect a significant Thai-Japanese partnership. ---------- Housing starts up 21% in July for 4th straight monthly rise TOKYO - Housing starts in Japan increased 21.2 percent in July from a year earlier to 83,398 units, marking the fourth straight monthly rise, the government said Wednesday. Growth was recorded in all three categories of housing starts -- rental homes, owner-occupied houses, and homes for sale, according to the Ministry of Land, Infrastructure, Transport and Tourism. (c) 2011 Kyodo News International, Inc. |