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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.
JAPAN
Dec 22, 1997

Mitsuzuka tells banks to avoid credit crunch

Finance Minister Hiroshi Mitsuzuka called on the banking industry Monday to take strict steps to ensure there would be no credit crunch toward the end of the year -- a situation anxiously anticipated by many small businesses.
JAPAN
Dec 19, 1997

Shares and yen tumble as credit crunch worsens

Share prices and the yen came under severe selling pressure Friday in Tokyo amid reports that a credit crunch has forced a major food trader out of business.
JAPAN
Dec 19, 1997

Insurance exec says solvency margins must be disclosed

Life insurance firms will have to disclose their solvency margins under a new policyholders' protection system being formed by the Finance Ministry, the chairman of the Life Insurance Association of Japan said Friday.
JAPAN
Dec 19, 1997

Hosokawa, Hata plan to form new group in Lower House

Former Prime Ministers Morihiro Hosokawa and Tsutomu Hata announced Friday that they have agreed to form a new political group in the Lower House before the end of the year.
JAPAN
Dec 18, 1997

Auto sales in '98 won't reach level of '96, industry says

Japan's total auto sales in 1998 will mark a slight 3 percent rise over this year but remain much lower than the 1996 level, according to a forecast by the Japan Automobile Manufacturers' Association.
JAPAN
Dec 17, 1997

Daiei establishes holding firm

Daiei Inc., the nation's largest retail chain, announced Wednesday that it has established a holding company to strengthen its financial condition, becoming the first company to take advantage of a change in the Antimonopoly Law.
JAPAN
Dec 17, 1997

'Pocket Monsters' shocks TV viewers into convulsions

At least 651 young people in 30 prefectures were taken to hospitals with convulsions and other maladies Tuesday evening after watching the popular TV cartoon "Pocket Monsters," based on the best-selling Nintendo Game Boy software of the same name, the Fire Defense Agency Agency of the Home Affairs Ministry...
JAPAN
Dec 17, 1997

Opposition parties unmoved by tax reductions

Shinshinto said Wednesday that Prime Minister Ryutaro Hashimoto's sudden announcement of a 2 trillion yen tax cut demonstrates the failures of his administration's economic policies.
JAPAN
Dec 17, 1997

Clinton lauds Hashimoto's move

In a telephone conversation Wednesday with Prime Minister Ryutaro Hashimoto, U.S. President Bill Clinton welcomed the special tax cut plan of 2 trillion yen unveiled earlier in the day, government officials said.
JAPAN
Dec 15, 1997

'Tankan' survey shows business confidence worsening

Business confidence in most sectors has plunged sharply and may slip further, according to the Bank of Japan's quarterly "tankan" survey of business sentiment released Monday.
JAPAN
Dec 10, 1997

Chinese laborers lose suit over forced wartime labor

The Tokyo District Court dismissed on Wednesday a lawsuit filed by Chinese forced to work at a copper mine in Akita Prefecture during the last years of World War II.
JAPAN
Dec 5, 1997

Defense Agency seeks more worthy English title

Even though the Defense Agency failed to win ministerial status under Prime Minister Ryutaro Hashimoto's new administrative reform plan, agency chief Fumio Kyuma says his agency at least deserves a more worthy English title to allow him to save face when meeting foreign counterparts.
JAPAN
Dec 4, 1997

IMF chief says action will help regain market trust

Decisive measures, including the use of public funds to protect depositors, are necessary if Japan wants to restore confidence in its financial sector at home and abroad, the managing director of the International Monetary Fund said Thursday.
JAPAN
Dec 3, 1997

Top banker praises public funds plan

The leader of the nation's top banking association welcomed on Tuesday the government's intention to use public funds for future financial crises, describing the plan as a "safety valve" for contingencies that fall beyond the capacity of the existing system tasked with dealing with such problems.
JAPAN
Dec 3, 1997

Yamaichi collapse didn't faze 'sokaiya'

Ryuichi Koike, who on Tuesday went on trial for allegedly extorting huge sums from five of Japan's biggest financial institutions, showed no emotion when he heard about the recent collapse of Yamaichi Securities Co., according to sources.
JAPAN
Nov 28, 1997

Clarity sought on role public funds would play

As debate heats up within the government over ways public funds can be used to restore Japan's financial stability, Finance Minister Hiroshi Mitsuzuka stressed Friday that what such an outlay would attempt to do must first be clarified.
JAPAN
Nov 28, 1997

Izui tells Diet he gave 278 million yen to LDP lawmakers

Junichi Izui, an oil wholesaler now on trial for income tax evasion and fraud, said Friday in sworn testimony before the Lower House Budget Committee that he provided 278 million yen to lawmakers of the ruling Liberal Democratic Party, including LDP policy chief Taku Yamasaki.
JAPAN
Nov 28, 1997

Tokyo taking foreign nurse's rights case to Supreme Court

Tokyo Gov. Yukio Aoshima said Friday that the Tokyo Metropolitan Government will appeal a high-court ruling that said the city violated the constitutional rights of a foreign public nurse by refusing to let her test for promotion.
JAPAN
Nov 26, 1997

Tokuyo City Bank folds in fourth collapse of month

Tokuyo City Bank, suffering from the weight of 58.8 billion yen in nonperforming loans, effectively collapsed Wednesday.
JAPAN
Nov 24, 1997

Ministry searches for measures to protect depositors

Alarmed at the successive failures of large financial firms -- the latest being Yamaichi Securities Co. -- the Finance Ministry said Monday it has begun studying new measures to ensure market stability and protect depositors, investors and insurance policy holders, with Finance Minister Hiroshi Mitsuzuka...
JAPAN
Nov 24, 1997

Yamaichi Securities decides to shut down

Yamaichi Securities Co. formally decided Monday to close down voluntarily amid a financial crisis linked to flagging stock prices, fallen credibility from payoff scandals and recently discovered losses from illegal "tobashi" trading activities.
JAPAN
Nov 21, 1997

Writeoffs to leave four banks in red

Five of the nation's 10 city banks announced plans Friday to write off their massive bad loans during fiscal 1997, four of them saying they expect to go into the red at the end of the year.
JAPAN
Nov 21, 1997

LDP gets to work on stability measures

Moving on Prime Minister Ryutaro Hashimoto's orders, the Liberal Democratic Party has begun a wild scramble to devise measures, including possible infusion of public money, to drive away fears of financial instability.
JAPAN
Nov 20, 1997

Foley worried about Japanese trade surpluses

U.S. Ambassador Thomas Foley expressed concern Thursday over the increases in Japan's trade and current account surpluses and called for an economic recovery led by domestic demand.
JAPAN
Nov 20, 1997

Use of public funds considered for clearing up loan mess

Prime Minister Ryutaro Hashimoto instructed the Liberal Democratic Party on Thursday to consider using public funds to clear up the nation's bad loan mess, a proposal welcomed by a rally on the Tokyo Stock Exchange.
JAPAN
Nov 19, 1997

Cooperation the cure to currency crisis, Ramos told

Nations must cooperate to counteract the currency crisis gripping Asia, Prime Minister Ryutaro Hashimoto told Philippine President Fidel Ramos on Wednesday, according to Foreign Ministry officials.
JAPAN
Nov 18, 1997

Families grieve over massacre in Egypt

The families and friends of the 11 Japanese involved in Monday's terrorist attack in Luxor, Egypt, were stunned Tuesday that their loved ones' honeymoons had ended in bloodshed.
JAPAN
Nov 18, 1997

New economic package aims at accelerating deregulation

The government unveiled a package of pump-priming measures Tuesday that focuses on accelerating deregulation to help boost confidence in the economy, if not real demand, in the short term.
JAPAN
Nov 17, 1997

Japan, U.S. officials concerned about depreciating yen

Japan and the United States expressed concern Monday over the recent depreciation of the yen, with Tokyo saying it was prepared to take action against excessive movements to stabilize foreign exchange markets.
Tokyo Metro’s overseas efforts begin in earnest with London deal
Tokyo Metro will soon have a role in the running of London's Elizabeth Line, a major train route serving the U.K.’s capital city and environs.
U.S. aircraft carrier returns to Japan carrying navy’s ‘most capable fighter’
U.S. 7th Fleet Commander Vice Adm. Fred Kacher speaks to reporters shortly after the arrival of aircraft carrier USS George Washington at Yokosuka naval base in Kanagawa Prefecture on Friday.
Man charged with murder allegedly made victim date other men for money
A car carrying suspect Ryotaro Masuda, who was indicted for allegedly beating his 25-year-old girlfriend to death, leaves the Shibuya Police Station in Tokyo on Thursday.
Russia fired experimental ballistic missile at Ukraine, Putin says
Ukrainian firefighters work on a spot following an airstrike in Dnipro on Thursday.
Ex-yokozuna Kitanofuji dies at 82
Yokozuna Kitanofuji enters the ring during the May 1970 grand sumo tournament in Tokyo.
Shohei Ohtani wins National League MVP award
Shohei Ohtani celebrates after hitting a three-run home run against the Padres during the National League Division Series at Dodger Stadium in Los Angeles last month.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.
'Tokyo Swindlers': Get deep into the minds of real estate con artists
In Ko Shinjo's "Tokyo Swindlers," a group of con artists manipulates real estate giants into falsified deals within the highly competitive, quick market.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Construction takes place on the Takanawa Gateway Convention Center in Tokyo, slated to open in 2025.
A boom for business tourism in Japan?
By Kathryn Wortley

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