Japan’s Nomura targets up to 90% jump in core pretax income in 3 years

TOKYO -Nomura Holdings Inc, Japan’s biggest brokerage and investment bank, said on Tuesday it is targetting an up to 90% jump in pretax income in three years as it plans to beef up digital and advisory services. Setting out guidance in a mid-term presentation, Nomura said it would target annual pretax income of between 350 billion yen and 390 billion yen ($2.7 billion and $3.0 billion) for its three core divisions in the year to…

"Japan’s Nomura targets up to 90% jump in core pretax income in 3 years"

Japan’s Recruit sees more female executives as key to growth

TOKYO – Glassdoor owner Recruit Holdings says it wants to have women in 50% of its senior executive and managerial roles within 10 years – a rare pledge in a country where men dominate the top echelons of companies, politics and the civil service. The push for more women at the upper levels of Japan’s largest staffing agency is part of a diversity drive to ensure a flow of bright business ideas, said Chief Operations…

"Japan’s Recruit sees more female executives as key to growth"

BOJ’s Kuroda warns against excess FX volatility

TOKYO – Bank of Japan Governor Haruhiko Kuroda said on Monday that currencies should move stably, reflecting economic fundamentals, because excess volatility such as seen recently would make it hard to make business plans. “Excess volatility in a short term as seen recently is undesirable,” Kuroda told Japan’s upper house of parliament. He would keep close watch on the impact of currency moves on Japan’s economy and prices, he said.

"BOJ’s Kuroda warns against excess FX volatility"

Nakaso, candidate to head BOJ, calls for faster green growth strategy

TOKYO – Japan needs a faster “third arrow” growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian firms aiming to go green, said Hiroshi Nakaso, considered a front-runner to be the country’s next central bank chief. Massive monetary and fiscal stimulus deployed in 2013 as the first two “arrows” of then-premier Shinzo Abe’s “Abenomics” policies reflated the economy. But the third, structural reform, barely took flight,…

"Nakaso, candidate to head BOJ, calls for faster green growth strategy"

Japan wholesale prices hit record 10% as energy costs soar

TOKYO -Japan’s wholesale prices in April jumped 10% from the same month a year earlier, data showed on Monday, rising at a record rate as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials. The surge in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, marked the fastest year-on-year rise in a single month since comparable data…

"Japan wholesale prices hit record 10% as energy costs soar"

Honda warns of rising costs, forecasts weaker annual profit

TOKYO -Japan’s Honda Motor on Friday forecast a 7% fall in annual earnings, instead of an expected rise, and warned that the long chip crunch and rising raw material costs were hurting profit, echoing comments from rivals Toyota and Nissan. Global automakers such as Honda have slashed production due a severe shortage of semiconductors, and now face what top automaker Toyota Motor called an “unprecedented” increase in costs as China’s COVID-19 curbs have shuttered factories…

"Honda warns of rising costs, forecasts weaker annual profit"

Kuroda rules out near-term chance of tweaking BOJ’s dovish guidance

TOKYO – Bank of Japan Governor Haruhiko Kuroda said on Friday the central bank will maintain its dovish guidance on the future path of interest rates for the time being, as the coronavirus pandemic continues to weigh on the fragile economy. Under the current forward guidance, the BOJ says it “won’t hesitate to take additional easing steps,” and expects short- and long-term policy interest rates to “remain at their present or lower levels.” As central…

"Kuroda rules out near-term chance of tweaking BOJ’s dovish guidance"

Japan’s JERA to buy two U.S. thermal power stations

TOKYO – JERA, Japan’s biggest power generator, said on Friday it had agreed to buy all stakes in two thermal power stations in the United States with a total capacity of 1.63 gigawatts from investment firm Stonepeak for an undisclosed sum. The plants are the Canal thermal power station in Massachusetts and the Bucksport thermal power station in Maine, JERA said, adding the deal would be finalised upon completion of all necessary approval and authorisation…

"Japan’s JERA to buy two U.S. thermal power stations"

Market nerves prop up safe-haven dollar, yen

HONG KONG – The yen held most of its overnight gains on Friday, after falling U.S. yields and market jitters propped up the Japanese currency while another Wall Street selloff drove flight-so-safety bid to dollar, which remains near 20-year high peaks. The yen was at 129.14 per dollar on Friday morning, softening on the day after it had reached a two-week peak of 127.5 overnight. Thursday’s 1.2% decline for dollar/yen was its biggest daily percentage…

"Market nerves prop up safe-haven dollar, yen"