Japan

Japan's foreign reserves rise above 1 trillion dollars in March

Japan's foreign reserves rise above 1 trillion dollars in March Tokyo  - Japan's foreign reserves exceeded 1 trillion dollars in March, thanks to gains in the appraisal values of its US Treasury bond holdings and euro-denominated assets, the Finance Ministry said Tuesday.

The nation's foreign reserves totaled 1.02 trillion dollars, up from 9.2 billion dollars in the previous month.

Japan held 905.53 billion dollars in foreign securities as of March 31 while its foreign currency deposits amounted to 84.2 billion dollars.

Japan, Indonesia agree to double currency swap amount

Japan, Indonesia agree to double currency swap amount Tokyo  - Japan and Indonesia signed an agreement on bilateral currency swap to increase the amount from 6 billion dollars to 12 billion dollars under an initiative to stabilize the financial state of the South-east Asian region, Japanese Finance Ministry said Monday.

Under the agreement, Indonesia would be able to swap rupiah worth up to 12 billion dollars when short-term liquidity support is needed.

Nintendo, Capcom team up to release new “Premium Edition Ace Attorney DSi console” in Japan

Nintendo/CapcomThe blogging site focusing on video games, Kotaku has reported that Nintendo – the Japan’s leading manufacturer of video games consoles and Capcom – the Japan’s leading developer and publisher of video games, have come together to release the new Premium Edition Nintendo DSi console, called “Premium Edition Ace Attorney” in Japan.

According to Kotaku, the new Premium Edition Nintendo DSi console will be released, packed with the new Ace Attorney game-Gyakuten Kenji in May, 2009. The Phoenix Wright branded new Premium Edition DSi console is specially designed to satisfy Japanese gamers.   

Japan to draw up largest-ever stimulus worth 100 billion dollars

Japan to draw up largest-ever stimulus worth 100 billion dollars Tokyo  - The Japanese government plans to draw up a supplementary budget for fiscal year 2009 with an economic stimulus package of more than 10 trillion yen (100 billion dollars), Finance Minister Kaoru Yosano said Monday.

During a meeting with Yosano, Prime Minister Taro Aso ordered him to draft a fresh stimulus plan amounting to more than 2 per cent of the nation's gross domestic product, Jiji Press quoted the finance minister as saying.

The government was expected to finalize the largest-ever spending package in detail on Friday.

Japan faces differences with China, Russia on North Korea

Japan faces differences with China, Russia on North KoreaTokyo  - Japan has gained support from its allies in trying to get a new resolution passed in the United Nations Security Council in response to North Korea's weekend rocket launch but still faces differences with China and Russia, Foreign Minister Hirofumi Nakasone said Monday.

"The various countries share the common concern that North Korea's action has a grave impact on the region's stability and security," Kyodo News Agency quoted Nakasone as saying.

Japan's imported vehicle sales down 24.8 per cent for fiscal year

Japan's imported vehicle sales down 24.8 per cent for fiscal yearTokyo - Imported vehicle sales in the past fiscal year plunged 24.8 per cent from the year before to 199,115 units, the Japan Automobile Importers Association said Monday.

Sales of vehicles made by foreign manufacturers dropped 22.2 per cent in the year that ended March 31 to 176,723 units while those produced abroad by Japanese makers nosedived 40.3 per cent to 22,392 units.

Volkswagen sold 40,661 units for the year, ranking at the top with a market share of 20.42 per cent, but its sales fell
21.2 per cent year-on-year.

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