[TODAY'S TOP STORIES] from [The Japan Times]
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Shoppers in rush for 'lucky bags'
Kyodo News
Major department stores across the country kicked off business for 2010 on Saturday, with "lucky bags" at low prices gaining in popularity as consumers search out bargains amid the economic downturn.
Mitsukoshi Ltd.'s flagship store in Tokyo's Nihonbashi district in Chuo Ward opened at 9:45 a.m., 15 minutes earlier than scheduled, as about 8,000 people were lined up in front of the store.
The Mitsukoshi store said it prepared a total of 50,000 lucky bags. Among them, bags which were sold for 10,500 were especially popular. Each bag contained a down coat, a sweater and other items, and most of the 1,200 bags sold out in the morning, Mitsukoshi said.
"I'm usually careful about spending money, so reasonably priced lucky bags with items that are in good quality are helpful," said a 50-year-old housewife who was shopping at the store.
At Takashimaya Co.'s flagship Nihonbashi store, some customers lined up before dawn and rushed to buy lucky bags on the food floor after the store opened.
"Practical lucky bags and items are very popular," a Takashimaya official said. "Consumers are expected to continue limiting their budget."
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Double-dip recession forecast by big firms
Kyodo News
Nearly 40 percent of major companies in a survey said that the economy is "highly likely" or "likely" to fall into a double-dip recession, according to results compiled Saturday.
The survey of 109 leading companies, conducted from late November through mid-December, found that 40 firms, or 37 percent of those surveyed, anticipate a further downturn in economic activity. The survey covered companies including Canon Inc., Nippon Steel Corp., Nippon Oil Corp., Sony Corp., Toyota Motor Corp. and Mitsubishi UFJ Financial Group Inc.
In reply to a multiple response question about their reasons for the pessimistic outlook, 26 of the 40 companies attributed it to the yen's appreciation. In addition, 24 firms replied that the effects of stimulus measures adopted by the government will wane, while 23 referred to deepening deflation.
Asked when they expect a double-dip recession to strike, 21 companies responded between January and March, while 16 replied between April and June.
However, 56 of the 109 companies, or about 51 percent, said they expect the domestic economy to stage a full-scale rally in the second half of 2010.
With regard to the economic policy of the Democratic Party of Japan-led government, 48 companies want to see a clear road map toward medium and long-term growth.
Among other survey findings, 20 companies are planning to cut back on capital spending in fiscal 2010, while 33 firms are considering workforce reductions.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Watches worth 300 million stolen in Ginza
Kyodo News
Some 200 high-end watches worth around 300 million in total were stolen from a jewelry store in Tokyo's Ginza shopping district, police said Saturday.
An opening had been made in the first floor wall of the building housing the Tenshodo jewelry store, leading to a staircase going down to the store's basement, where the watches were kept.
Security cameras recorded two intruders carrying flashlights at around 4:50 a.m. Saturday. The infrared sensors in the basement did not go off.
Police said the broken showcases were in an area not covered by the sensors, leading them to suspect someone familiar with the store's security system may have been involved.
The opening was apparently dug from the outside, even though the neighboring building is only 70 cm away. Both the concrete outer wall and plaster inner wall had openings 50 cm high and 80 cm wide, police said.
Inside the store, the showcases displaying Rolex and other luxury brand watches were found broken into, they said. A male employee who came to the store Saturday morning found the break-in and alerted the police.
The building employs security guards who are stationed 24 hours a day. Police said a guard had patrolled the store at 4:20 p.m. Friday.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
DPJ set to streamline Japan Post group firm
Kyodo News
Internal Affairs and Communications Minister Kazuhiro Haraguchi revealed a plan Friday to reorganize the Japan Post group through a merger of group companies in a move seen as a step backward for postal privatization.
Streamlining the group structure would be centered on a merger between state-owned Japan Post Holdings Co., the holding company for the group, struggling mail and parcel delivery unit Japan Post Service Co. and post office operator Japan Post Network Co., according to Haraguchi.
The group's banking and insurance units, Japan Post Bank Co. and Japan Post Insurance Co., would operate under the wing of the merged company as the plan envisions trimming the number of group firms from five to three.
Haraguchi and Shizuka Kamei, state minister for postal issues, will work out the details of the realignment before submitting relevant bills to the upcoming Diet session to be convened later this month.
"Combining Japan Post Holdings, post office operations and mail delivery services will enable the group to provide varied services as one unit, along with two financial services companies under its umbrella," Haraguchi said.
The reorganization was prompted by worries that Japan Post Service may not stay afloat given the frail business environment surrounding its mail and parcel delivery services. Japan Post Bank and Japan Post Insurance generate the bulk of profits for the group.
The original plan called for Japan Post Holdings to sell all stakes in the two financial companies. Haraguchi declined to comment on the stakes the government-owned firm would hold in them after the planned merger.
The government led by the Democratic Party of Japan, launched in September, has been pushing for a review of the postal privatization reforms spearheaded by former Prime Minister Junichiro Koizumi of the Liberal Democratic Party.
Kamei, who also heads the DPJ's coalition partner, Kokumin Shinto (People's New Party), has been a staunch opponent of the privatization process Koizumi led and has been keen on reshaping the Japan Post group.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Toyota eyes hybrid production at new Miyagi plant from 2011
NAGOYA (Kyodo) Toyota Motor Corp. plans to produce hybrid vehicles at a new assembly plant in Miyagi Prefecture that will start operating in 2011, sources said Friday.
Toyota intends to manufacture a Vitz-class subcompact hybrid model at the Miyagi plant in Ohira, which would become a key domestic production hub for gasoline-electric cars, along with its factories in Aichi and Fukuoka prefectures.
Central Motor Co., a Toyota subsidiary, will run the Ohira plant by transferring its head office and manufacturing plant from Sagamihara, Kanagawa Prefecture. Hybrids to be assembled in Miyagi are likely to go on sale in 2011 at around 1.5 million and boast gas mileage of over 40 km a liter — a better performance than the popular Prius.
Another Toyota unit, Panasonic EV Energy Co., is expected to produce and supply batteries for the new hybrid at a new plant scheduled to start operating later this month in Taiwa, Miyagi Prefecture.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Shoppers in rush for 'lucky bags'
Kyodo News
Major department stores across the country kicked off business for 2010 on Saturday, with "lucky bags" at low prices gaining in popularity as consumers search out bargains amid the economic downturn.
Mitsukoshi Ltd.'s flagship store in Tokyo's Nihonbashi district in Chuo Ward opened at 9:45 a.m., 15 minutes earlier than scheduled, as about 8,000 people were lined up in front of the store.
The Mitsukoshi store said it prepared a total of 50,000 lucky bags. Among them, bags which were sold for 10,500 were especially popular. Each bag contained a down coat, a sweater and other items, and most of the 1,200 bags sold out in the morning, Mitsukoshi said.
"I'm usually careful about spending money, so reasonably priced lucky bags with items that are in good quality are helpful," said a 50-year-old housewife who was shopping at the store.
At Takashimaya Co.'s flagship Nihonbashi store, some customers lined up before dawn and rushed to buy lucky bags on the food floor after the store opened.
"Practical lucky bags and items are very popular," a Takashimaya official said. "Consumers are expected to continue limiting their budget."
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Double-dip recession forecast by big firms
Kyodo News
Nearly 40 percent of major companies in a survey said that the economy is "highly likely" or "likely" to fall into a double-dip recession, according to results compiled Saturday.
The survey of 109 leading companies, conducted from late November through mid-December, found that 40 firms, or 37 percent of those surveyed, anticipate a further downturn in economic activity. The survey covered companies including Canon Inc., Nippon Steel Corp., Nippon Oil Corp., Sony Corp., Toyota Motor Corp. and Mitsubishi UFJ Financial Group Inc.
In reply to a multiple response question about their reasons for the pessimistic outlook, 26 of the 40 companies attributed it to the yen's appreciation. In addition, 24 firms replied that the effects of stimulus measures adopted by the government will wane, while 23 referred to deepening deflation.
Asked when they expect a double-dip recession to strike, 21 companies responded between January and March, while 16 replied between April and June.
However, 56 of the 109 companies, or about 51 percent, said they expect the domestic economy to stage a full-scale rally in the second half of 2010.
With regard to the economic policy of the Democratic Party of Japan-led government, 48 companies want to see a clear road map toward medium and long-term growth.
Among other survey findings, 20 companies are planning to cut back on capital spending in fiscal 2010, while 33 firms are considering workforce reductions.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Watches worth 300 million stolen in Ginza
Kyodo News
Some 200 high-end watches worth around 300 million in total were stolen from a jewelry store in Tokyo's Ginza shopping district, police said Saturday.
An opening had been made in the first floor wall of the building housing the Tenshodo jewelry store, leading to a staircase going down to the store's basement, where the watches were kept.
Security cameras recorded two intruders carrying flashlights at around 4:50 a.m. Saturday. The infrared sensors in the basement did not go off.
Police said the broken showcases were in an area not covered by the sensors, leading them to suspect someone familiar with the store's security system may have been involved.
The opening was apparently dug from the outside, even though the neighboring building is only 70 cm away. Both the concrete outer wall and plaster inner wall had openings 50 cm high and 80 cm wide, police said.
Inside the store, the showcases displaying Rolex and other luxury brand watches were found broken into, they said. A male employee who came to the store Saturday morning found the break-in and alerted the police.
The building employs security guards who are stationed 24 hours a day. Police said a guard had patrolled the store at 4:20 p.m. Friday.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
DPJ set to streamline Japan Post group firm
Kyodo News
Internal Affairs and Communications Minister Kazuhiro Haraguchi revealed a plan Friday to reorganize the Japan Post group through a merger of group companies in a move seen as a step backward for postal privatization.
Streamlining the group structure would be centered on a merger between state-owned Japan Post Holdings Co., the holding company for the group, struggling mail and parcel delivery unit Japan Post Service Co. and post office operator Japan Post Network Co., according to Haraguchi.
The group's banking and insurance units, Japan Post Bank Co. and Japan Post Insurance Co., would operate under the wing of the merged company as the plan envisions trimming the number of group firms from five to three.
Haraguchi and Shizuka Kamei, state minister for postal issues, will work out the details of the realignment before submitting relevant bills to the upcoming Diet session to be convened later this month.
"Combining Japan Post Holdings, post office operations and mail delivery services will enable the group to provide varied services as one unit, along with two financial services companies under its umbrella," Haraguchi said.
The reorganization was prompted by worries that Japan Post Service may not stay afloat given the frail business environment surrounding its mail and parcel delivery services. Japan Post Bank and Japan Post Insurance generate the bulk of profits for the group.
The original plan called for Japan Post Holdings to sell all stakes in the two financial companies. Haraguchi declined to comment on the stakes the government-owned firm would hold in them after the planned merger.
The government led by the Democratic Party of Japan, launched in September, has been pushing for a review of the postal privatization reforms spearheaded by former Prime Minister Junichiro Koizumi of the Liberal Democratic Party.
Kamei, who also heads the DPJ's coalition partner, Kokumin Shinto (People's New Party), has been a staunch opponent of the privatization process Koizumi led and has been keen on reshaping the Japan Post group.
[NATIONAL NEWS]
Sunday, Jan. 3, 2010
Toyota eyes hybrid production at new Miyagi plant from 2011
NAGOYA (Kyodo) Toyota Motor Corp. plans to produce hybrid vehicles at a new assembly plant in Miyagi Prefecture that will start operating in 2011, sources said Friday.
Toyota intends to manufacture a Vitz-class subcompact hybrid model at the Miyagi plant in Ohira, which would become a key domestic production hub for gasoline-electric cars, along with its factories in Aichi and Fukuoka prefectures.
Central Motor Co., a Toyota subsidiary, will run the Ohira plant by transferring its head office and manufacturing plant from Sagamihara, Kanagawa Prefecture. Hybrids to be assembled in Miyagi are likely to go on sale in 2011 at around 1.5 million and boast gas mileage of over 40 km a liter — a better performance than the popular Prius.
Another Toyota unit, Panasonic EV Energy Co., is expected to produce and supply batteries for the new hybrid at a new plant scheduled to start operating later this month in Taiwa, Miyagi Prefecture.