[TODAY'S TOP STORIES] from [The Japan Times]
[BUSINESS NEWS]
Wednesday, Aug. 5, 2009
Prius helps trim Toyota's losses
Stimulus steps lift sales but firm logs 78 billion net loss
(Kyodo News) Toyota Motor Corp. trimmed its full-year loss forecasts Tuesday for the current business year because domestic sales began to pick up on booming demand for the Prius on the back of government stimulus measures for fuel-efficient cars.
But in contrast with Honda Motor Co. and Nissan Motor Co., Toyota in April-June stayed in the red for the third consecutive quarter with a group operating loss of 194.86 billion as demand continued to fall sharply in overseas markets.
For all of fiscal 2009 through next March, Toyota now anticipates an operating loss of 750 billion on sales of 16.8 trillion. It had earlier projected an operating loss of 850 billion on sales of 16.5 trillion.
Toyota is expecting a group net loss of 450 billion in the fiscal year, smaller than the 550 billion loss projected in May, thanks to aggressive cost-cutting efforts and inventory reductions.
The automaker, which has Daihatsu Motor Co. and Hino Motors Ltd. under its wing, said it expects to sell 6.6 million units globally, slightly up from an earlier forecast of 6.5 million units, as it raised its full-year sales projection in Japan.
For the April-June quarter, Toyota logged a group net loss of 77.82 billion, a drastic improvement over the loss of 765.8 billion booked during the January-March quarter. It logged a profit of 353.66 billion a year earlier.
Group sales fell 38.3 percent to 3.84 trillion as global auto sales during the three-month period fell 35.9 percent to 1.40 million units.
But Toyota has received about 250,000 orders for the Prius hybrid since it went on sale in Japan in May. A new hybrid-only Lexus luxury sedan has also seen strong preorders on the back of recent government tax breaks and subsidies.
Toyota, which logged its first group operating loss in 71 years in fiscal 2008, has reduced its temporary workforce and cut production levels as it scrambles to reduce 460 billion in fixed costs during the current business year.
Toyota President Akio Toyoda has said he wants to return the automaker to profitability by March 2011.
Last week, Honda revised upward its full-year profit forecasts and remained in the black with a group net profit of 7.56 billion for the April-June quarter on the back of strong sales of the Insight hybrid.
Nissan meanwhile saw a better than expected group operating profit of 11.60 billion in the first quarter of fiscal 2009, due partly to brisk sales in China. But it maintained its full-year earnings forecasts of a net loss of 170 billion and an operating loss of 100 billion.
25,000 Prius sold KYODO Sales of both old and new models of the Toyota Prius topped 25,000 units in July, up from the 22,292 sold in June, industry sources said.
At this pace, yearly sales of the hybrid are expected to total about 180,000 units and top the list of Japan's annual best-selling vehicles excluding minivehicles, the sources said Monday.
The Prius became Japan's best-selling vehicle in a ranking including minivehicles in June for the first time on the back of recent tax breaks and subsidies for buyers of environmentally friendly cars.
Data on best-selling vehicles in July will be released Thursday and the Prius is likely to top the list for the second straight month.
Toyota has received about 250,000 orders for the hybrid in the two months since the latest model went on sale in May.
Toyota is now operating its Prius plant at near capacity, and an executive said the automaker can produce up to about 25,000 a month for the domestic market.
[NATIONAL NEWS]
Wednesday, Aug. 5, 2009
Defense-only posture needs reviewing: panel
By JUN HONGO
Staff writer
Japan should consider dropping its ban on engaging in collective self-defense and overhaul its defense-only posture, a panel reviewing government strategy said Tuesday.
"We do not advocate pre-emptive strikes, but policies exclusively restricted to defense are insufficient. There needs to be debate about when Japan can use force, and not only after (it has been attacked)," a government official working with the panel said.
Taking into consideration the panel's recommendations, contained in a 52-page report, the government plans to revise the National Defense Program Guidelines by the end of the year, but the outcome of the Aug. 30 election could dilute the recommendations. The new guidelines are to be in effect through 2014.
While the Constitution does not allow collective self-defense, the panel's report suggests Japan should be allowed to assist should U.S. forces come under attack at sea or America is targeted by ballistic missiles.
The panel, headed by Tokyo Electric Power Co. Chairman Tsunehisa Katsumata, proposed that the government add a "proactive deterrent factor" to its passive defense policy.
Its report also proposes creation of a permanent law enabling the dispatch of the Self-Defense Forces overseas for international peace-building.
The report urges easing the restrictions on weapons exports and on joining international military-related research, because such curbs have been to Japan's detriment and increased its procurement and development costs.
On regional security, the report highlights the North Korean nuclear and missile threats. In reviewing the April launch of a long-distance ballistic missile by Pyongyang, it says the government should consider developing sensor-equipped spy satellites that can detect missile launches.
[NATIONAL NEWS]
Wednesday, Aug. 5, 2009
Yokohama adopts nationalistic junior high history textbook
YOKOHAMA (Kyodo) The Yokohama board of education on Tuesday adopted a disputed history textbook with a nationalist bent for use in many of the city's public junior high schools, municipal officials said.
The textbook was mainly authored by a group of nationalistic scholars called the Japanese Society for History Textbook Reform, popularly known as Tsukurukai.
It is published by Tokyo publishing house Jiyusha.
The book has drawn international criticism chiefly from China and South Korea for allegedly playing down Japan's militarist past and justifying its wartime role.
The Yokohama board of education decided to use the textbook in schools in eight of the city's 18 wards for two academic years starting next April, the officials said.
Jiyusha said Yokohama, with a population of 3.67 million, is the first large city to adopt its history book. It cleared the education ministry's fiscal 2008 textbook screening.
The Yokoyama board's six members on Tuesday discussed history textbooks from seven publishing houses, including Jiyusha.
The panel failed to reach a consensus on the selection of Jiyusha's history text. Some members said they appreciated the way the book makes it is easy for students to grasp the flow of history, but others criticized it as glorifying Japan's participation in a series of wars.
[NATIONAL NEWS]
Wednesday, Aug. 5, 2009
Suit eyed over sumo assault
(Kyodo News) A former hairdresser, or "tokoyama," for sumo wrestlers is considering bringing a lawsuit against stable master Oitekaze for allegedly assaulting him in March, sources said Tuesday.
Oitekaze has reported this to a special directive committee of the Japan Sumo Association in the latest case tarnishing the image of the ancient sport.
"I have taken on a lawyer and intend to deal with this action seriously," said Oitekaze. The former hairdresser left his job with the sumo association in April.
According to sources, the hairdresser, formerly a wrestler, had himself allegedly physically abused young wrestlers of the stable but denied such charges in a statement sent to the stable master at the end of July.
He also suggested in the statement he was considering taking legal action against Oitekaze.
Oitekaze reportedly assaulted the hairdresser over his abuse of wrestlers.
Oitekaze is scheduled to meet with his lawyer as early as Wednesday. He said the hairdresser has been unwilling to discuss the case with him.
The sumo association last summer implemented measures to prevent acts of violence following the hazing death of a 17-year-old wrestler at the Tokitsukaze stable in 2007.
[BUSINESS NEWS]
Wednesday, Aug. 5, 2009
Prius helps trim Toyota's losses
Stimulus steps lift sales but firm logs 78 billion net loss
(Kyodo News) Toyota Motor Corp. trimmed its full-year loss forecasts Tuesday for the current business year because domestic sales began to pick up on booming demand for the Prius on the back of government stimulus measures for fuel-efficient cars.
But in contrast with Honda Motor Co. and Nissan Motor Co., Toyota in April-June stayed in the red for the third consecutive quarter with a group operating loss of 194.86 billion as demand continued to fall sharply in overseas markets.
For all of fiscal 2009 through next March, Toyota now anticipates an operating loss of 750 billion on sales of 16.8 trillion. It had earlier projected an operating loss of 850 billion on sales of 16.5 trillion.
Toyota is expecting a group net loss of 450 billion in the fiscal year, smaller than the 550 billion loss projected in May, thanks to aggressive cost-cutting efforts and inventory reductions.
The automaker, which has Daihatsu Motor Co. and Hino Motors Ltd. under its wing, said it expects to sell 6.6 million units globally, slightly up from an earlier forecast of 6.5 million units, as it raised its full-year sales projection in Japan.
For the April-June quarter, Toyota logged a group net loss of 77.82 billion, a drastic improvement over the loss of 765.8 billion booked during the January-March quarter. It logged a profit of 353.66 billion a year earlier.
Group sales fell 38.3 percent to 3.84 trillion as global auto sales during the three-month period fell 35.9 percent to 1.40 million units.
But Toyota has received about 250,000 orders for the Prius hybrid since it went on sale in Japan in May. A new hybrid-only Lexus luxury sedan has also seen strong preorders on the back of recent government tax breaks and subsidies.
Toyota, which logged its first group operating loss in 71 years in fiscal 2008, has reduced its temporary workforce and cut production levels as it scrambles to reduce 460 billion in fixed costs during the current business year.
Toyota President Akio Toyoda has said he wants to return the automaker to profitability by March 2011.
Last week, Honda revised upward its full-year profit forecasts and remained in the black with a group net profit of 7.56 billion for the April-June quarter on the back of strong sales of the Insight hybrid.
Nissan meanwhile saw a better than expected group operating profit of 11.60 billion in the first quarter of fiscal 2009, due partly to brisk sales in China. But it maintained its full-year earnings forecasts of a net loss of 170 billion and an operating loss of 100 billion.
25,000 Prius sold KYODO Sales of both old and new models of the Toyota Prius topped 25,000 units in July, up from the 22,292 sold in June, industry sources said.
At this pace, yearly sales of the hybrid are expected to total about 180,000 units and top the list of Japan's annual best-selling vehicles excluding minivehicles, the sources said Monday.
The Prius became Japan's best-selling vehicle in a ranking including minivehicles in June for the first time on the back of recent tax breaks and subsidies for buyers of environmentally friendly cars.
Data on best-selling vehicles in July will be released Thursday and the Prius is likely to top the list for the second straight month.
Toyota has received about 250,000 orders for the hybrid in the two months since the latest model went on sale in May.
Toyota is now operating its Prius plant at near capacity, and an executive said the automaker can produce up to about 25,000 a month for the domestic market.
[NATIONAL NEWS]
Wednesday, Aug. 5, 2009
Defense-only posture needs reviewing: panel
By JUN HONGO
Staff writer
Japan should consider dropping its ban on engaging in collective self-defense and overhaul its defense-only posture, a panel reviewing government strategy said Tuesday.
"We do not advocate pre-emptive strikes, but policies exclusively restricted to defense are insufficient. There needs to be debate about when Japan can use force, and not only after (it has been attacked)," a government official working with the panel said.
Taking into consideration the panel's recommendations, contained in a 52-page report, the government plans to revise the National Defense Program Guidelines by the end of the year, but the outcome of the Aug. 30 election could dilute the recommendations. The new guidelines are to be in effect through 2014.
While the Constitution does not allow collective self-defense, the panel's report suggests Japan should be allowed to assist should U.S. forces come under attack at sea or America is targeted by ballistic missiles.
The panel, headed by Tokyo Electric Power Co. Chairman Tsunehisa Katsumata, proposed that the government add a "proactive deterrent factor" to its passive defense policy.
Its report also proposes creation of a permanent law enabling the dispatch of the Self-Defense Forces overseas for international peace-building.
The report urges easing the restrictions on weapons exports and on joining international military-related research, because such curbs have been to Japan's detriment and increased its procurement and development costs.
On regional security, the report highlights the North Korean nuclear and missile threats. In reviewing the April launch of a long-distance ballistic missile by Pyongyang, it says the government should consider developing sensor-equipped spy satellites that can detect missile launches.
[NATIONAL NEWS]
Wednesday, Aug. 5, 2009
Yokohama adopts nationalistic junior high history textbook
YOKOHAMA (Kyodo) The Yokohama board of education on Tuesday adopted a disputed history textbook with a nationalist bent for use in many of the city's public junior high schools, municipal officials said.
The textbook was mainly authored by a group of nationalistic scholars called the Japanese Society for History Textbook Reform, popularly known as Tsukurukai.
It is published by Tokyo publishing house Jiyusha.
The book has drawn international criticism chiefly from China and South Korea for allegedly playing down Japan's militarist past and justifying its wartime role.
The Yokohama board of education decided to use the textbook in schools in eight of the city's 18 wards for two academic years starting next April, the officials said.
Jiyusha said Yokohama, with a population of 3.67 million, is the first large city to adopt its history book. It cleared the education ministry's fiscal 2008 textbook screening.
The Yokoyama board's six members on Tuesday discussed history textbooks from seven publishing houses, including Jiyusha.
The panel failed to reach a consensus on the selection of Jiyusha's history text. Some members said they appreciated the way the book makes it is easy for students to grasp the flow of history, but others criticized it as glorifying Japan's participation in a series of wars.
[NATIONAL NEWS]
Wednesday, Aug. 5, 2009
Suit eyed over sumo assault
(Kyodo News) A former hairdresser, or "tokoyama," for sumo wrestlers is considering bringing a lawsuit against stable master Oitekaze for allegedly assaulting him in March, sources said Tuesday.
Oitekaze has reported this to a special directive committee of the Japan Sumo Association in the latest case tarnishing the image of the ancient sport.
"I have taken on a lawyer and intend to deal with this action seriously," said Oitekaze. The former hairdresser left his job with the sumo association in April.
According to sources, the hairdresser, formerly a wrestler, had himself allegedly physically abused young wrestlers of the stable but denied such charges in a statement sent to the stable master at the end of July.
He also suggested in the statement he was considering taking legal action against Oitekaze.
Oitekaze reportedly assaulted the hairdresser over his abuse of wrestlers.
Oitekaze is scheduled to meet with his lawyer as early as Wednesday. He said the hairdresser has been unwilling to discuss the case with him.
The sumo association last summer implemented measures to prevent acts of violence following the hazing death of a 17-year-old wrestler at the Tokitsukaze stable in 2007.