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JAPAN
Jan 28, 1998

NEC's profit to plunge to 45 billion yen

Due to lackluster sales of personal computers and electronic devices, NEC Corp. announced Wednesday that its consolidated net profit will plunge to 45 billion yen in the 1997 business year, down 51 percent from its previous estimate of 80 billion yen."Investment in information technology was supposed...
JAPAN
Jan 28, 1998

'Save the dugong' focus of Okinawan band's concert

The popular Okinawan band Kina Shokichi & Champloose will stage the "Eco Peace Concert" in Tokyo today to call for steps to be taken to protect waters off of Nago, Okinawa Prefecture -- identified as a potential site for an offshore military heliport -- so that dugongs can continue to live there.The...
JAPAN
Jan 28, 1998

U.S. wants pact on civilian-use GPS products

Staff writerThe United States has asked Japan to conclude a pact as soon as possible on civilian applications, such as car navigation, of the U.S.-developed positioning system that uses military satellites, government officials said Wednesday.The U.S. wants the proposed pact with Japan to serve as a...
JAPAN
Jan 28, 1998

Mitsuzuka resigns over finance bribery scandal

Finance Minister Hiroshi Mitsuzuka tendered his resignation Wednesday to Prime Minister Ryutaro Hashimoto to take the blame for a scandal in which two ministry bank inspectors were arrested for bribery.In accepting Mitsuzuka's resignation, Hashimoto will also hold the post of finance minister until...
JAPAN
Jan 28, 1998

Sanyo to venture into elder care business

Sanyo Electric Co. announced Wednesday that it will enter a new business field by establishing a joint venture firm to run nursing homes in light of the rapidly growing elderly population.Sanyo will set up Sanyo Emeritus Corp. jointly with Seattle-based Emeritus Corp. in February. The new firm will...
JAPAN
Jan 28, 1998

U.S. files on Okinawa occupation to be released

About 3.2 million pages of documents and photographs related to the U.S. Civil Administration of the Ryukyu Islands, which governed Okinawa between 1950 and 1972, will be made public beginning this fall.The National Diet Library and the Okinawa Prefectural Archives announced that the documents will...
JAPAN
Jan 27, 1998

Nissan to reduce auto platforms to five

Nissan Motor Co. plans to reduce the number of platforms for its automobiles to five by around 2005, Nissan President Yoshikazu Hanawa said Tuesday.In an effort to reduce costs and shorten development lead time for new models, the company has been planning to consolidate major platforms, Hanawa said....
JAPAN
Jan 27, 1998

Japan to help revitalize trans-Siberia railway

The Japanese government will promote cooperation to revitalize the trans-Siberia Railway as part of Tokyo's efforts to encourage economic reform in Russia, Japanese officials told their Russian counterparts Tuesday at a meeting to discuss work on the railway.Japan will promote such measures as feasibility...
JAPAN
Jan 27, 1998

Celebrity's brother held over drugs

Takayuki Kuroyanagi, 41, brother of media celebrity and UNICEF Ambassador Tetsuko Kuroyanagi, was arrested in connection with drug possession and turned over to prosecutors Monday, according to the Metropolitan Police Department.A small amount of stimulants was found Sunday night in his car, which was...
JAPAN
Jan 27, 1998

Prosecutors raid banks embroiled in bribe scandal

Prosecutors raided the head offices of the Asahi, Dai-Ichi Kangyo, Sanwa and now-defunct Hokkaido Takushoku banks Tuesday in connection with a scandal that has emerged following the arrests of two Finance Ministry inspectors Monday over bribery.The raid comes only a day after the Tokyo District Public...
JAPAN
Jan 27, 1998

Specify priority ODA sectors, panel tells Obuchi

The nation needs to specify priority sectors in extending official development assistance because its resources are under restraint due to tight fiscal policy, according to a final report released Tuesday by a 10-member private consulting body to Foreign Minister Keizo Obuchi."Japan's ODA has been well...
JAPAN
Jan 27, 1998

Tax official admits guilt in taking bribes

A former tax officer pleaded guilty Tuesday to accepting 4 million yen in bribes to help an acquaintance carry out a tax-dodging scheme.Akio Tobinai, 52, formerly with the Kamakura Tax Office in Kanagawa Prefecture, pleaded guilty in his first hearing before the Tokyo District Court. According to prosecutors,...
JAPAN
Jan 27, 1998

Banker wants 'MOF-tan' abolished

Banks should consider abolishing positions specifically created to maintain close contact with Finance Ministry officials, the head of the banking industry federation said Tuesday.Naotaka Saeki, president of Sanwa Bank and chairman of the Federation of Bankers Associations of Japan, put forward the...
JAPAN
Jan 27, 1998

Keidanren seeks easing of share buyback rules

The Japan Federation of Economic Organizations (Keidanren) on Tuesday urged the ruling Liberal Democratic Party to establish a law to ease rules governing companies' share buybacks until March 2000 to revitalize the sluggish stock market.Takashi Imai, a Keidanren vice chairman, made the request in a...
JAPAN
Jan 27, 1998

Mitsuzuka to step down over bureaucrat arrests

Giving in to pressure from both the opposition and allies of the Liberal Democratic Party to step down, Finance Minister Hiroshi Mitsuzuka announced Tuesday that he will resign to take responsibility for the arrests of two ministry inspectors accused of taking bribes.The decision was conveyed to Prime...
JAPAN
Jan 27, 1998

Competition, investment needed in Japan, EU envoy says

Staff writerGreater competition stimulated by more foreign investments is what Japan needs to revive its sagging economy, according to Jorn Keck, departing ambassador of the European Union."Japan, now more than ever, needs foreign investment in order to improve the efficiency of many areas of industry,"...
JAPAN
Jan 26, 1998

Merging U.S. guarantors to set up shop in Tokyo

MBIA Inc. and CapMAC Holdings, two major U.S. financial guarantors set to merge in March, will set up an office in Tokyo this summer to enhance their business in the Japanese market, the firms' CEOs announced Monday.Financial guarantors assure investors of the principal and interest of municipal or...
JAPAN
Jan 26, 1998

DPJ seeks to use gender-based quotas in fielding candidates

The Democratic Party of Japan, the nation's largest opposition party, announced Monday it plans to introduce a gender-based quota system for selecting candidates for national and local elections."It is the first time for a political party to introduce the system in this country, where it is widely known...
JAPAN
Jan 26, 1998

BOJ tells banks to restore trust, dispose of loans

Bank of Japan Gov. Yasuo Matsushita urged Japanese financial institutions Monday to expedite the disposal of their bad loans and reinforce their capital bases to regain the trust of the markets, saying financial market players are taking an increasingly severe look at their financial health.At the opening...
JAPAN
Jan 26, 1998

Japan is urged to sign bans on torture, death penalty

U.N. High Commissioner for Human Rights Mary Robinson urged the Japanese government Monday to sign an international treaty banning torture and an international protocol banning the death penalty, Foreign Ministry officials said.Robinson said in a meeting with Foreign Minister Keizo Obuchi that she wants...
JAPAN
Jan 26, 1998

JR East to debut double-decker coach cars

East Japan Railway Co. plans to use double-decker coaches for all the cars in its popular Hokuto limited express sleeper train linking Tokyo's Ueno and Sapporo.Production of the coaches will start in the summer and the train will be in operation by summer 1999.The train will consist of 12 double-decker...
JAPAN
Jan 26, 1998

Finance Ministry inspectors arrested over bank bribes

Two officials of the Finance Ministry's Finance Inspection Department are under arrest on suspicion of accepting bribes from banks in the form of wining and dining, the special investigative squad of the Tokyo District Public Prosecutor's Office announced Monday night.The two arrested were identified...
JAPAN
Jan 26, 1998

SUPER BOWL XXXII: Fourth time's the charm for Elway

Staff writerSAN DIEGO -- The number four turned out to be a lucky charm for John Elway, who guided the Denver Broncos to their first ever Super Bowl victory Sunday.In his fourth appearance in the NFL championship game, the 15-year veteran quarterback out of Stanford finally grabbed the big one. "I can't...
JAPAN
Jan 26, 1998

Koike made direct payoff demands, court told

Ryuichi Koike, a "sokaiya" corporate racketeer on trial for extortion, demanded payoffs during direct meetings with executives of firms involved in the huge financial scandal surrounding him, prosecutors said Monday during his Tokyo District Court trial.Describing Koike, 54, as a "skillful" and "aggressive"...
JAPAN
Jan 26, 1998

Kajiyama denies ambition to be next prime minister

Former Chief Cabinet Secretary Seiroku Kajiyama on Monday denied that he will be tapped to replace Prime Minister Ryutaro, who, according to rumors, may be forced to step down in a few months due to his economic policy failures."Some people say that I still have ambition (to become prime minister),...
JAPAN
Jan 26, 1998

Columbia crew traces mission's success to hardships of space

Crew members of the space shuttle Columbia, which returned to Earth early last month after a successful mission, said Monday the extraordinary challenge of working in space fostered a sense of unity that overrode differences in culture.Eight members of NASA's space team -- six aboard the spacecraft...
JAPAN
Jan 23, 1998

Hata leads official launch of Minseito

The new political party Minseito was officially formed Friday through the integration of three center-right opposition parties, most of whose members once belonged to the now-defunct Shinshinto.Former Prime Minister Tsutomu Hata, 62, leader of the new party, said during the inaugural conference at a...
JAPAN
Jan 23, 1998

Seoul retaliates as Tokyo scraps 1965 fishery pact

Seoul denounced Tokyo's decision Friday to unilaterally terminate a 1965 fisheries pact following the breakdown of nearly two years of negotiations.In swift response, South Korean Foreign Minister Yoo Chong Ha declared the Japanese decision "unfriendly" and said his country will, in retaliation, immediately...
JAPAN
Jan 23, 1998

Bill targets renewal of old-fashioned shopping districts

Three government ministries on Friday presented to the ruling Liberal Democratic Party the outline of a bill to revitalize commercial districts in line with the planned abolition of the Large-Scale Retail Store Law.The bill would allow for a total expenditure of 1.5 trillion yen to bring economic vitality...
JAPAN
Jan 23, 1998

Super Bowl Preview: Packers, Chiefs to play in Tokyo

Staff writerSAN DIEGO -- The Kansas City Chiefs will make their second trip to Tokyo to take on the Green Bay Packers on Aug. 2 at the Tokyo Dome in the American Bowl, the National Football League announced Thursday.The American Bowl will resume after a one-year absence for Tokyo's ninth NFL preseason...

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