[TODAY'S TOP STORIES] from [The Japan Times]
[NATIONAL NEWS]
Tuesday, June 9, 2009
Sea-zone ban fuels speculation of missile launch
By JUN HONGO
Staff writer
North Korea has banned vessels from traveling in a designated area off its northeast shore between Wednesday and June 30, raising speculation that another missile launch is on the way, the Japan Coast Guard said Monday.
While the specified location does not pose a threat to Japan's territory, the coast guard has issued a navigation warning to all Japanese ships.
The designated area starts at the port of Wonsan, North Korea, and stretches approximately 263 km with a maximum width of 100 km. The coast guard said Pyongyang issued the radio warning Sunday.
Chief Cabinet Secretary Takeo Kawamura said Japan "cannot deny the possibility that (North Korea) will fire missiles, including ballistic missiles, in response to developments of the U.N. Security Council and other moves."
The broadcast by North Korea, which has reportedly been preparing an assortment of missiles following its nuclear test last month, said the restriction is effective from 8 a.m. to 8 p.m. every day until the end of June. Similar warnings were intercepted last month just before Pyongyang tested several short-range missiles.
The May nuclear test took place after the U.N. Security Council condemned its April test of a long-range ballistic missile, part of which flew over Japan and fell in the Pacific.
Prior to the nuke test, North Korea reportedly pressed for the Security Council to issue an apology for infringing on its sovereignty with the sanctions.
[NATIONAL NEWS]
Tuesday, June 9, 2009
Akihabara marks year since attack
(Kyodo News) Tokyo's Akihabara electronics district marked on Monday the first anniversary of a vehicular and stabbing rampage that left seven people dead and 10 injured.
Tomohiro Kato, a 26-year-old former temporary worker, has been charged with running down pedestrians with a truck in a vehicle-free shopping section last June 8, a Sunday, and fatally stabbing passersby with a dagger after getting out of the truck.
Bouquets, paper cranes and message cards were placed at the intersection where the rampage took place. "Please rest in peace," one message said.
Numerous passersby said prayers at the site of the rampage.
Hiroshi Yuasa, 55, a taxi driver who was seriously wounded in the attack, visited the intersection early Monday and laid flowers.
Yuasa said Kato should "tell all (about the rampage) honestly" so the souls of the dead can find repose. Yuasa said he still suffers from chest pains and headaches.
Kato, who was arrested at the scene, was charged with murder and attempted murder. The Tokyo District Court is scheduled to hold a session June 22 to decide the proceedings for his trial.
Kato, who worked as a temporary employee at an auto assembly factory in Susono, Shizuoka Prefecture, posted a series of messages on a mobile phone bulletin board warning of the carnage in advance.
Naoya Sugino, a 30-year-old game maker who was in Akihabara on the day of the killing spree, said he feels he could easily have been a victim.
"Why did this happen? I still cannot figure it out," he said while offering a prayer.
The Akihabara stabbings took place on the seventh anniversary of the massacre at Osaka Kyoiku University Ikeda Elementary School in Osaka Prefecture on June 8, 2001.
Intruder Mamoru Takuma, was hanged in 2004 for stabbing to death eight children and wounding 15 others, including teachers, in the school.
On Monday, about 700 people attended a memorial at the school.
[NATIONAL NEWS]
Tuesday, June 9, 2009
Failures log first fall in 12 months
(Kyodo News) Corporate bankruptcies dropped by 6.7 percent in May from a year earlier to 1,203, posting the first year-on-year fall in 12 months, a private credit research agency said Monday.
The debts left by the failed firms contracted 1.8 percent to 539.88 billion, the second straight month of decline, Tokyo Shoko Research said.
The number of bankruptcies was also the smallest in the last 12 months, the agency said. The figures cover bankrupt firms with debts of 10 million or more.
Prefectures where failures saw a year-on-year fall numbered 25, compared with 15 where bankruptcies increased. It was the second straight month that prefectures where failures fell outnumbered those where they rose.
These positive developments "appear to have stemmed from the government's financial assistance program, including providing emergency credit guarantees" to credit-starved companies, the agency said.
The program, devised by the administration of Prime Minister Taro Aso to soften the domestic impact of the global economic downturn, is designed to help struggling firms take out commercial bank loans by offering official repayment guarantees using such venues as prefectural credit guarantee associations.
Failures of construction companies decreased 21.3 percent for the third consecutive month. But those of manufacturers jumped 13.4 percent.
The number of large-scale bankruptcies of firms with debts of 1 billion or more was limited to 63, the smallest seen so far this year. Among listed companies, Joint Corp. was the sole case of bankruptcy in May.
[BUSINESS NEWS]
Tuesday, June 9, 2009
Current account surplus dips 55%; 14th straight fall
(Kyodo News) The nation's current account surplus shrank 54.5 percent in April from a year earlier, while signs are emerging that suggest the pace of decline in exports has become moderate, the Finance Ministry said Monday.
The surplus in the current account, the broadest gauge of Japan's trade with the rest of the world, totaled 630.5 billion, the ministry said in a preliminary report. The trade gauge fell for the 14th straight month.
The surplus in merchandise trade dropped 69.2 percent to 184.3 billion from a year before, although it narrowed at the slowest pace since last July.
The trade surplus continued for the third straight month as a decline in exports abated after dropping a record 50.4 percent in February and 46.5 percent in March.
In April, exports fell 40.6 percent to 3.92 trillion, while shipments of automobiles and steel products remained particularly slack. Imports decreased 37.8 percent, the same margin as in March, to 3.73 trillion, down for the sixth straight month.
"The tempo of decline in exports is expected to slow in the coming months as many Japanese manufacturers are benefiting from rising overseas demand, backed by stimulus measures," said Norio Miyagawa, senior economist at Shinko Research Institute.
He said exports may start expanding on a year-to-year basis around the end of this year.
But imports will probably not recover as quickly as exports, said Miyagawa, amid continued weak domestic demand exacerbated by sharp salary cuts at many firms.
The balance of trade in goods and services posted a deficit of 287.3 billion, the first red ink in three months due to an expansion of the deficit in the service account, including payments in transport and tourism.
The deficit in the service account grew 19.9 percent to 471.7 billion, partly because fewer overseas tourists visited Japan, while more Japanese were traveling abroad amid the strengthening of the yen's value versus other major currencies, ministry officials said.
The income surplus fell 18.5 percent to 1.057 trillion as money earned overseas through securities and bonds fell amid the economic downturn. The surplus narrowed for the seventh straight month.
[BUSINESS NEWS]
Tuesday, June 9, 2009
Top Norinchukin job for ex-vice farm minister smacks of 'amakudari'
(Kyodo News) In an example that "amakudari" remains pervasive, Norinchukin Bank is planning to appoint Yoshio Kobayashi, a former vice agricultural minister, as head of its subsidiary, the Norinchukin Research Institute, sources said Monday.
The move is expected to provoke further criticism of amakudari, in which former government officials land high-ranking positions after retirement at entities related to the sectors they formerly supervised.
Norinchukin Bank, the de facto central bank for agricultural cooperatives, plans to make Kobayashi chairman of the institute, its top position, the sources said. Kobayashi is a former adviser of the institute.
Norinchukin Bank is struggling after falling into the red with a record net loss of \565.7 billion on an unconsolidated basis in fiscal 2008.
The sources said the move is aimed at preventing relations with the Agriculture, Forestry and Fisheries Ministry from worsening.
Although Kobayashi was once seen as a candidate to succeed Norinchukin Bank President Hirofumi Ueno, another former vice farm minister, Vice President Yoshio Kono, a career official at the bank, took office as president in April.
The farm ministry also attempted to have a former vice minister land the post of vice president of the bank, but the lender decided in May to instead appoint a senior managing director of the Central Union of Agricultural Cooperatives.