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JAPAN
Jan 23, 1998

Gas firms' rate plans under fire

Mitsuo Horiuchi, minister for international trade and industry, put explicit pressure Friday on three major gas companies to refrain from their planned gas rate hikes in April.Speaking at a regular news conference, Horiuchi expressed strong displeasure with Thursday's announcement by Tokyo Gas Co.,...
JAPAN
Jan 22, 1998

Cabinet expected to scrap fishing pact with South Korea

With diplomatic negotiations deadlocked, the Cabinet is expected to decide this morning to unilaterally scrap the 1965 fisheries agreement with South Korea.Chief Cabinet Secretary Kanezo Muraoka said Thursday morning the decision on the treaty was reached in a meeting with Foreign Minister Keizo Obuchi...
JAPAN
Jan 19, 1998

Shochiku president, son ousted

In a corporate coup d'etat, the board of directors at film and theater giant Shochiku Co. removed President Toru Okuyama and his son, Kazuyoshi, a senior managing director, from their posts Monday.Shochiku, Japan's pioneer film company, known for its "Tora-san" series, decided to name Senior Managing...
JAPAN
Jan 15, 1998

Hospitals prepared to harvest brain-dead organ donors

Most medical institutions designated to remove organs from brain-dead donors have declared they are ready to do so in the three months since a controversial law went into effect to allow such transplants from brain-dead patients.A large number of such facilities have completed manuals for carrying out...
JAPAN
Jan 14, 1998

Hashimoto drops new hint of tax cut

Prime Minister Ryutaro Hashimoto on Wednesday repeated hints he made the previous day that further tax cuts to boost domestic consumption and support the sagging economy have not been ruled out."The government will strive to make it unnecessary to continue a 2 trillion yen cut in income and residential...
JAPAN
Jan 14, 1998

Big banks praised for accepting publicly funded capitalization

Finance Minister Hiroshi Mitsuzuka on Wednesday applauded moves on the part of major Japanese banks to accept an infusion of public funds through the government-supported purchase of their preferred stock and subordinated bonds.On Tuesday, leading Japanese banks such as the Bank of Tokyo-Mitsubishi...
JAPAN
Jan 14, 1998

Northwest exec sees flaw in slot-distribution plan

In the runup to next week's U.S.-Japan aviation talks in Washington, a top executive of Northwest Airlines, Inc. pointed out a problem Wednesday with a new proposal for allocating slots at congested Narita airport.Richard Hirst, senior vice president of the carrier, said at a news conference that the...
JAPAN
Jan 13, 1998

Mitsuzuka to remain at helm of Finance Ministry

Finance Minister Hiroshi Mitsuzuka stressed Tuesday that he would not resign, because it is imperative that he carry out his duties and try to secure Diet passage of bills and the fiscal 1998 budget.Speaking at a regular news conference, Mitsuzuka pointed out that he was responsible for drawing up both...
JAPAN
Jan 13, 1998

Banker apologizes for wining and dining

The leader of the nation's banking industry apologized Tuesday for the excessive wining and dining of Finance Ministry officials carried out in the past by some bankers."We needed such bankers, but we regret there was some excessive entertaining," Naotaka Saeki, chairman of the Federation of Bankers...
JAPAN
Jan 13, 1998

Debate sought as banks triple figures for sour loans

Figures indicating that the nation's banks have more than triple the amount of bad loans than originally thought will help spur Diet debate on using public funds to stabilize the financial system, Finance Minister Hiroshi Mitsuzuka said Tuesday.On Monday, the Finance Ministry said independent assessments...
JAPAN
Jan 13, 1998

More pump-priming steps may be implemented

Mitsuo Horiuchi, the minister of international trade and industry, indicated Tuesday that additional pump-priming measures may be implemented to prevent a global economic crisis from originating in Japan.Speaking at a regularly scheduled news conference, Horiuchi said that to prevent further deterioration...
JAPAN
Jan 13, 1998

Blair sees a new chapter in bilateral ties

A new chapter is opening in Anglo-Japanese relations as the two countries work together for peace and security, and a better international economy, British Prime Minister Tony Blair said Tuesday.He told a news conference at the Japan National Press Club that his visit helped strengthen the bilateral...
JAPAN
Jan 12, 1998

Imai officially tapped by Toyoda to head Keidanren

Shoichiro Toyoda, chairman of the Japan Federation of Economic Organizations (Keidanren), announced Monday that he has chosen Takashi Imai, president of Nippon Steel Corp., to succeed him at the helm of the nation's largest business organization.The announcement was made at a regular meeting of Keidanren's...
JAPAN
Jan 9, 1998

Mitsuzuka wants construction, deficit bonds separate

Finance Minister Hiroshi Mitsuzuka voiced opposition Friday to recent calls to scrap the current classification divisions between construction and deficit-covering government bonds.Deficit-covering bonds are issued to cover gaps between government spending and revenue in a given fiscal year and require...
JAPAN
Jan 7, 1998

Opposition parties unite over policy, 6 trillion yen tax cuts

Six opposition parties agreed Wednesday to specific policy measures, including a call for tax cuts worth 6 trillion yen, for their planned joint parliamentary group.The leaders of the Democratic Party of Japan, Shinto Yuai (New Party Fraternity), Kokumin no Koe (Voice of the People), the Taiyo Party,...
JAPAN
Jan 6, 1998

Yen keeps losing ground to dollar

The yen gave up further ground against the dollar Tuesday amid concerns over the ailing Japanese economy and financial crises in Southeast Asian countries.The yen fell to 134.38 yen to the dollar at one point, its lowest in almost six years, before settling at 133.57-60 yen at 5 p.m., compared with...
JAPAN
Jan 6, 1998

Mitsuzuka proposes stock market stabilization measures

Finance Minister Hiroshi Mitsuzuka announced Tuesday a set of measures -- including the introduction of more stringent restrictions regarding the short-selling of stocks -- aimed at reducing volatility in Tokyo's stock markets.Specifically, the definition of short-selling under the Securities and Exchange...
JAPAN
Jan 6, 1998

Big business calls for political leadership

Shoichiro Toyoda, chairman of the Japan Federation of Economic Organizations (Keidanren), said Tuesday that political leadership is needed to swiftly pass planned measures to cope with the economy."Toward the end of last year, various measures were drafted," Toyoda told a joint news conference with...
JAPAN
Jan 5, 1998

Yokoyama looks to save Osaka from financial woes

Osaka Gov. "Knock" Yokoyama says that the prefecture's financial woes left him on the verge of despair but that talks with the national government over reform measures are continuing."I felt desperate, at times, because the situation was so bad," Yokoyama said. "But we must do what we can to turn the...
JAPAN
Dec 31, 1997

Three new opposition parties moving toward unification

Leaders of three small opposition parties announced Wednesday they will form a joint parliamentary group during the Diet session that begins Jan. 12 and open negotiations on forming a new party.
JAPAN
Dec 31, 1997

Hashimoto to stay in charge by default, despite recession

Staff writer
JAPAN
Dec 31, 1997

Hashimoto vows to give strength to the economy

The government will take every possible measure to stabilize the nation's financial system and restore the economy to a healthy state, Prime Minister Ryutaro Hashimoto vowed during a news conference marking New Year's Day.
JAPAN
Dec 30, 1997

Sixth party steps forth from Shinshinto wreckage

A sixth party arose Tuesday from the demise of 173-member Shinshinto.
JAPAN
Dec 26, 1997

Ozawa plans to disband Shinshinto for new party

No. 1 opposition party Shinshinto announced Friday that its Diet members would gather later today to discuss disbanding into two new parties to be launched in early January.
JAPAN
Dec 24, 1997

Honda plans to increase U.S. auto production

Honda Motor Co. announced on Wednesday that by the end of 2001, it will increase its annual production capacity in the United States and Canada to more than 1 million vehicles from the current level of 790,000 units.
JAPAN
Dec 24, 1997

Another public funds scheme hatched

Mitsuo Horiuchi, minister for international trade and industry, on Wednesday urged financial authorities to consider using public funds for an investment cooperative that would purchase corporate shares held by banks.
JAPAN
Dec 23, 1997

LDP lawmaker resigns from fiscal panel amid allegations

The secretary general of the Liberal Democratic Party's financial stability subcommittee has stepped down from that and another panel amid allegations he profited from Nikko Securities Co. through dubious equity investments made on his behalf, LDP sources said Tuesday.
JAPAN
Dec 23, 1997

Maruso Securities files for bankruptcy

Midsize brokerage house Maruso Securities Co. filed a petition Tuesday with the Tokyo District Court for permission to start voluntary bankruptcy proceedings, court officials said.
JAPAN
Dec 22, 1997

Hashimoto concerned with Nikkei's slide

Prime Minister Ryutaro Hashimoto said Monday he was "very concerned" that the Tokyo Stock Exchange's key barometer has dropped below 15,000 yen.
JAPAN
Dec 22, 1997

LDP member admits profiting from shady Nikko stock deals

An LDP Lower House member became entangled in the scandals enveloping the country's four major brokerages Monday when he admitted to receiving profits from Nikko Securities Co. through dubious equity investments.

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