Tokyo, 27 June, /AJMEDIA/
U.S. dollar falls vs yen after setting 37-yr high, intervention fears
TOKYO – The U.S. dollar fell to the mid-160 yen level in Tokyo on Thursday after touching a 37-year high overnight, as repeated warnings by Japanese authorities strengthened fears of intervention.
Market participants were increasingly cautious that the Japanese Finance Ministry could step in anytime to stem the yen’s slide after the U.S. currency soared to as high as 160.88 yen, its highest level since December 1986, in New York overnight, surpassing a recent high of 160.24 yen on April 29.
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Japan, U.S., South Korea to boost supply chains for industrial minerals
WASHINGTON – Japan, the United States and South Korea agreed Wednesday to reinforce supply chains for critical minerals such as those used in semiconductors and electric cars to balance China’s increased influence in the global economy.
During a meeting involving industry ministers from the three countries in Washington, the trio said they also agreed to deepen cooperation on artificial intelligence and other advanced technologies, including those associated with export controls, research and developing international standards.
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U.N. rights expert expresses concerns over sexual abuse in Japan
GENEVA – A U.N. human rights expert expressed concerns on Wednesday about various “challenges” in Japan, including alleged sexual exploitation and abuse of talent signed with a major Tokyo-based entertainment agency and discrimination against sexual minorities.
Speaking in a U.N. Human Rights Council session in Geneva, Robert McCorquodale, chief of a working group that released a report on Japan-related issues last month, recommended the establishment of an “independent” national institution to tackle the problems, mentioning the scandal involving the company formerly known as Johnny & Associates Inc.
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N. Korea claims multiple-warhead missile test was successful
BEIJING – North Korean state media reported Thursday the country successfully conducted the previous day a test of an intermediate-range ballistic missile carrying multiple warheads.
In the test, warheads carried by the solid-fuel ballistic missile separated and were guided correctly to three targets, according to the state-run Korean Central News Agency.
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Japan’s Digital Minister Kono intends to run in LDP leadership race
TOKYO – Digital Minister Taro Kono has informed a heavyweight of the ruling Liberal Democratic Party that he intends to run in its presidential race in September, aiming to become Japan’s next prime minister, a source close to the matter said Thursday.
Kono, known as an outspoken lawmaker, conveyed his intention to LDP Vice President Taro Aso, a former prime minister who heads an intraparty group that the minister belongs to, during a dinner meeting on Wednesday, the source said.
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Toyota global output falls in May for 4th month on price war in China
NAGOYA – Toyota Motor Corp. said Thursday its global production for May fell 4.1 percent from a year earlier to 812,191 units, marking the fourth straight month of decline as the automaker continues to grapple with stiff competition in China.
Its production outside Japan fell 7.0 percent to 556,877 cars as output in China plunged 21.7 percent due to an ongoing price war with local brands in the world’s biggest auto market, the carmaker said.
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BOJ bond ownership rate down for 2 qtr, still over half of total debt
TOKYO – The ratio of Japanese government bonds held by the Bank of Japan fell for the second straight quarter at the end of March but remained high at 53.25 percent of state debt, central bank data showed Thursday.
While the ownership rate declined from 53.78 percent in December, the still massive bond holdings, accumulated through years of unorthodox monetary easing steps to create inflation, pose a challenge to the BOJ. It decided to reduce its purchases at its meeting in June.
