Tokyo

Japan's three megabanks incur losses for past fiscal year

Japan's three megabanks incur losses for past fiscal yearTokyo - Japan's three biggest banking groups were expected to report net losses for the fiscal year that ended March 31 amid worsening global financial turmoil, one of the banks and media reports said Thursday. Such losses would mark the first time in six years that all of Japan's three megabanks would swing into the red.

Japan carmakers report global output falls for past fiscal year

Japan carmakers report global output falls for past fiscal year Tokyo - Japan's major carmakers on Thursday reported sharp declines in their global vehicle output for the business year that ended March 31 as demand for cars declined amid the economic downturn across the world. Toyota Motor Corp said its global production dropped 18.2 per cent year-on-year to 7.1 million units and its domestic output was down 20.4 per cent to 3.4 million vehicles.

Japan's leading automaker saw domestic sales fall 24.9 per cent to 1.33 million units and exports decline 21 per cent to 2.14 million units.

Japan's three megabanks to incur losses for past fiscal year

Japan's three megabanks to incur losses for past fiscal yearTokyo  - Japan's three biggest banking groups were expected to report net losses for the fiscal year that ended March 31 amid worsening global financial turmoil, media reports said Thursday.

Such losses would mark the first time in six years that all of Japan's three megabanks would swing into the red.

Mizuho Financial Group Inc was to incur a net loss of more than 500 billion yen (5 billion dollars) because of massive stock and credit losses, Jiji Press quoted sources familiar with the matter as saying.

Japanese stocks down ahead of corporate earnings reports

Japanese stocks down ahead of corporate earnings reports Tokyo  - Tokyo stocks inched downward Thursday as investors stayed away from buying ahead of the expected release of corporate earnings reports.

The benchmark Nikkei 225 Stock Average declined 40.66 points, or 0.47 per cent, to 8,686.64.

The broader Topix index of all first-section issues was also down 2.36 points, or 0.28 per cent, at 827.6.

On currency markets at 9 am (0000 GMT), the dollar traded at 98.01-06 yen, down from Wednesday's 5 pm quote of 98.15-16 yen.

Japan logs first annual trade deficit in 28 years

Japan's economyTokyo- Japan's trade balance for fiscal 2008 marked the first deficit in 28 years due to rises in commodity prices and slower exports to the United States and other major economies, the Finance Ministry said Wednesday

The nation's trade deficit logged 725.32 billion yen (7.38 billion dollars) in fiscal 2008 that ended in March, the ministry said.

Japan last registered a trade deficit in 1980, when the balance was skewed by soaring crude oil prices.

Tokyo stocks lose 3 per cent on Wall Street fall, stronger yen

Tokyo stocks lose 3 per cent on Wall Street fall, stronger yen Tokyo - Tokyo stocks lost more than 3 per cent Tuesday morning on Wall Street's overnight falls and the yen's advance against the US dollar.

The benchmark Nikkei 225 Stock Average plunged 299.06 points, or 3.35 per cent, to 8,625.69.

The broader Topix index of all first-section issues was down 28.12 points, or 3.31 per cent, at 820.18.

Tokyo investors dumped mostly export-oriented issues, as a stronger yen whittles the earnings of Japanese firms.

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