AJMEDIA News Digest: Nov. 12, 2022

Tokyo, 12 November, /AJMEDIA/

Japan, China arranging for Kishida-Xi talks, Thailand eyed as venue

TOKYO – Japan and China are working to arrange talks between Prime Minister Fumio Kishida and President Xi Jinping, with Thailand envisioned for their venue but Indonesia remaining a possibility, according to sources familiar with the move.

Kishida told reporters early Saturday that Japan is making arrangements with China and South Korea with a view to his holding summit meetings with their respective leaders on the fringes of international gatherings in the days ahead.

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Biden to urge Xi to call on North Korea to restrain provocations

BALI, Indonesia – U.S. President Joe Biden plans to urge Chinese President Xi Jinping to work to restrain North Korea’s nuclear and missile provocations when they meet in Indonesia next week, a senior U.S. official said Saturday.

North Korea will also be a key topic when Biden meets with his Japanese and South Korean counterparts as part of a flurry of diplomacy taking place on the fringes of international meetings in Southeast Asia, according to National Security Adviser Jake Sullivan.

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ASEAN to admit E. Timor, continues to struggle with Myanmar crisis

PHNOM PENH – The leaders of the Association of Southeast Asian Nations agreed in principle to admit East Timor as the 11th member of the group at their summit in Cambodia on Friday while continuing to struggle with the most pressing issue of Myanmar’s prolonged political crisis.

The agreement between the leaders of the 10-member ASEAN comes more than a decade after East Timor applied for membership in 2011. East Timor is granted observer status at all meetings until it joins the bloc, a joint statement said. No specific timeline for accession has been set.

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Japan’s justice minister dismissed over gaffes about death penalty

TOKYO – Japanese Prime Minister Fumio Kishida on Friday dismissed Yasuhiro Hanashi as justice minister after criticism over remarks widely seen as making light of his role in authorizing executions of death-row inmates.

Hanashi’s removal dealt a fresh blow to Kishida after another minister was sacked in late October over his suspicious links to the controversial Unification Church, with public approval ratings for the Cabinet plunging recently.

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New Japan consortium on advanced chips to begin production in 2027

TOKYO – A new consortium set up by eight leading Japanese firms, including Toyota Motor Corp. and Sony Group Corp., said Friday it aims to begin domestic production of next-generation semiconductors in 2027.

The recently established Rapidus Corp. said it will research, develop, design, manufacture and sell 2-nanometer generation chips in Japan that are vital to economic security and the country’s industrial competitiveness. Rapidus is the Latin form of “rapid,” a name chosen to represent the company’s intention to speed up the chip production process.

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SoftBank Group reports net loss of 129 bil. yen for April-Sept.

TOKYO – SoftBank Group Corp. said Friday it posted a net loss of 129.10 billion yen ($895 million) for the six months ended September, a reversal from a net profit of 363.57 billion yen it recorded in last year’s fiscal first half, as its investment business was hit by a market slump.

Its net loss, however, reduced from a record 3.16 trillion yen in the April-June quarter after it logged massive gains from selling some of its stake in Chinese tech giant Alibaba Group Holding Ltd.

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Seven & i to sell Sogo & Seibu dept. stores to Fortress Investment

TOKYO – Seven & i Holdings Co. said Friday it plans to sell its struggling department store unit Sogo & Seibu Co. to U.S.-based investment fund Fortress Investment Group LLC for around 250 billion yen ($1.73 billion) in February.

Fortress will revamp the operator of Sogo and Seibu department stores by teaming up with electrical appliances retailer Yodobashi Camera Co. while also cutting costs and improving efficiency, the Japanese company said.

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Football: Japan hammered by European champions England in women’s friendly

MURCIA, Spain – Japan suffered a 4-0 defeat to women’s European champions England in an international friendly Friday in Spain.

World No. 11 Nadeshiko Japan had hung on in Murcia until the 38th minute, when fourth-ranked England went ahead after a loose pass from midfielder Hina Sugita inside her own box allowed Rachel Daly to roll home.

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