Japan

Financial News

Japanese Stocks Climb on U.S. Stimulus Expectations; Canon, Mitsui Advance Japan’s stocks rose to a two-month high after President-elect Barack Obama said the U.S. will run deficits for years to support the economy, stoking speculation government spending will boost demand for Japanese products.

Dollar Is Near Five-Week High After GM Says Bailout Should Ensure Survival The dollar traded near a five-week high against the yen after General Motors Corp. said rescue loans already pledged by the government should ensure the biggest U.S. automaker’s survival.

Honda Delays Construction of Factory in Argentina by 6 Months to Mid-2010 Honda Motor Co., Japan’s second-largest carmaker, will postpone the construction of a factory in Argentina by at least six months. The factory will open in mid-2010 instead of the beginning of the year, said spokesman Hideto Maehara.

Nippon Oil, Nippon Mining to Cut Mizushima Refining Capacity on Low Demand Nippon Oil Corp. and Nippon Mining Holdings Inc., which last month agreed to merge and form Japan's largest refining company, plan to reduce processing capacity at two of their refineries to cope with falling demand.

Mitsubishi Heavy Said to Cancel Sale of Tokyo Headquarters After Low Bids Mitsubishi Heavy Industries Ltd., Japan’s largest heavy-machinery maker, canceled a plan to sell its Tokyo headquarters after receiving bids lower than it expected, two people familiar with the sale said.

Thirty-Year Bonds Decline for Second Day After Dealers Prepare for Auction Japan’s 30-year government bonds fell for a second day on speculation dealers reduced holdings of debt in preparation for an auction of 1.9 trillion yen ($20.3 billion) in 10-year notes tomorrow.

Panasonic Will `Come Close' to Meeting Flat-Panel Television Sales Target Panasonic Corp., the world’s largest maker of consumer electronics, will “come close” to meeting its target to sell 11 million flat-panel televisions this fiscal year, President Fumio Ohtsubo said.

Mitsubishi Materials Considers 10% Copper Output Reduction to Boost Prices Mitsubishi Materials Corp., Japan's third-largest copper producer, is considering cutting production by an average 10 percent as global demand slows, a company executive said.

General News

Aso Trumps Recession as Biggest Drag on Stock Market, Nomura Survey Shows Investors see Japanese Prime Minister Taro Aso’s administration as the biggest obstacle to a recovery in the nation’s stock market this year, a Nomura Securities Co. survey showed.

Australian Anti-Whaling Group Denies Disrupting Search for Japanese Sailor Anti-whaling activists chasing Japan’s fleet across the Southern Ocean denied disrupting the search for a Japanese crew member missing in Antarctic waters.

Japan to Consider Legislation to Counter High-Seas Piracy, Yomiuri Reports The Japanese government will submit a bill to parliament to give the nation’s naval forces a legal basis to fight high-seas piracy, the Yomiuri Newspaper said.

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