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The Bank of Japan is making unlimited bond purchases on Monday to keep long term interest rates from climbing further.
BOJ officials say they will buy an unlimited amount of government bonds at a fixed rate. It is the bank’s first such move in about three years and seven months.
A sell-off in Japanese government bonds has recently been intensifying. It pushed yields on the benchmark 10-year bond up to 0.23 percent on Thursday, which is the highest level in about six years and one month and close to the cap the BOJ has set.
Long term interest rates have been rising as central banks in the United States and Europe move to tighten monetary policy.
Analysts say the BOJ’s bond purchases are signaling that the bank will stick with its policy of monetary easing.
Kirin to exit Myanmar beer market over human rights
Nikkei – Feb 14
Japanese beverage company Kirin Holdings is set to exit its Myanmar operations after it concluded there is no hope of resolving a dispute with its military-backed partner a year after a military takeover plunged the Southeast Asian nation into turmoil, Nikkei has learned.
Mazda’s electrification plan insists on big role for traditional engines
forbes.com – Feb 14
As European automakers bow to the politicians and seek to rid themselves of carbon dioxide (CO2) spewing internal combustion engines (ICE), at least in their home markets, Mazda is doing its best to retain much of its traditional engineering while addressing the need for electrification and seeking more exotic solutions with the help of maybe hydrogen and biofuel.
SoftBank’s Son aims for ‘biggest ever’ chip IPO with Arm
Nikkei – Feb 09
SoftBank Group Chairman and CEO Masayoshi Son on Tuesday said he plans to take U.K. semiconductor design company Arm public in what would be “the largest IPO in semiconductor history,” after a deal to sell it to U.S. chipmaker Nvidia was scrapped on regulatory pushback.
Japan’s cash in circulation hits record for 11th straight month
channelnewsasia.com – Feb 09
The total amount of money circulating in Japan hit a fresh record for the 11th straight month in January, data showed on Wednesday (Feb 9), as huge monetary stimulus and government spending to combat the COVID-19 pandemic work their way through the economy.
SoftBank’s $66bn sale of chip group Arm to Nvidia collapses
Nikkei – Feb 08
SoftBank’s $66bn sale of U.K.-based chip business Arm to Nvidia collapsed on Monday after regulators in the U.S., U.K. and EU raised serious concerns about its effects on competition in the global semiconductor industry, according to three people with direct knowledge of the transaction.
Nissan to end most development of new gasoline engines
Nikkei – Feb 08
Nissan Motor will end development of new internal combustion engines in all its major markets except the U.S. and focus its resources on electric vehicles, becoming the first major Japanese automaker to make such a break, Nikkei has learned.
Taiwan to end ban on food from nuclear disaster areas in Japan
focustaiwan.tw – Feb 08
Taiwan will announce a series of measures Tuesday to regulate imports of food and agricultural products from areas affected by the Fukushima nuclear disaster in 2011, in effect ending an 11-year ban that has long been criticized by Japan.
Toshiba revises breakup plan as it seeks shareholder support
Nikkei – Feb 07
Toshiba announced a new reorganization plan on Monday, splitting itself up into two public companies instead of three, as it tries to line up support from key shareholders in a bid to transform itself into a more dynamic and profitable business group.
Honda to close ‘mother factory’ as it moves to all-electric future
Nikkei – Feb 07
Honda Motor is getting ready to switch off its engines. As part of a radical restructuring leading to an all-electric future, Honda has cut its domestic auto production capacity to slightly over 800,000 vehicles a year, down by around 40% from its 2002 peak.
Japanese Olympic sponsors avoid spotlight fearing backlash
Nikkei – Feb 06
Japanese Olympic sponsors have refrained from splashy advertising campaigns featuring the Beijing Winter Games out of fears of a possible backlash amid criticism about China’s human rights practices in the U.S. and Europe.
McDonald’s Japan to put large-size fries back on menu
Kyodo – Feb 04
McDonald’s Co. (Japan) said Friday it will put medium- and large-size french fries back on the menu next Monday after their sale was suspended for nearly a month due to a potato shortage for the second time since last December.
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