Category: Japan

Japan Could Lose Developed Nation Status by 2050

As its population continues to shrink and age, Japan, the third largest world economy, could lose its developed nation status and global significance by 2050, said the Tokyo-based 21^st Century Public Policy Institute.

According to the think-tank, which is linked to Japan’s powerful Keidanren business federation, Japan’s shrinking workforce, caused by a chronic low birth-rate, combined with lower savings and investment rates could see the country lose its cherished ‘developed nation’ status by mid-century.

Foreign Investors Dump $24 Billion Of Japanese Debt In Two Weeks

Overseas investors in the Japanese government bond market have sold more than 2 trillion yen ($24 billion) in bonds over the last two weeks, claimed the Wall Street Journal on Wednesday, as concerns continue to grow over Japan’s national debt level.

TEPCO Shareholders Demand $67 Billion From Company Executives To Compensate Fukushima Victims

Shareholders at Tokyo Electric Power Co Inc (TEPCO) want executives at the utility company to pay out over 5.5 trillion ($67.4 bilion) back to the company, said a report by Reuters, on Monday, in order to use the money to compensate those affected by the Fukushima nuclear disaster last year.

One-Third of Japan’s Population To Disappear By 2060

Japan faces a significant population crisis over the next century, said the Japanese Health, Labour and Welfare ministry on Monday, after government forecasts estimated that the population would shrink by nearly a third of its current size by 2060.

Export-Oriented Japan Posts First Annual Trade Deficit In 31 Years

The Japanese Finance Ministry has announced the nation’s first-ever annual trade deficit since 1980, after the March tsunami-earthquake disaster and the strong value of the yen last year saw a massive upswing in Japan’s energy imports while exports took a major hit.

In total, Japan’s annual trade deficit for 2011 was 2.49 trillion yen ($32 billion), said a report by the finance ministry, with imports up by 12.0 percent from 2010 while exports fell by 2.7 percent.

Japan’s Tepco Seeks $9 Billion More In Aid

Tokyo Electric Power Co., or Tepco, has requested for an additional 689.4 billion yen ($8.8 billion) in aid from the Japanese government to help the utility cover compensation payments to those affected by the twin Fukushima nuclear disasters.

The Nikkei news daily reported today that Japanese trade and industry minister Yukio Edano will urge the troubled company to accept a public fund injection and a de-facto nationalisation.

Japan Admits Using $29 Million From Disaster Fund For Whaling Hunt

Japan will use 2.3 billion yen ($29 million) from its supplementary tsunami relief budget to fund the country’s controversial annual whaling hunt in the Antarctic Ocean, confirmed an official from the Japanese Fisheries Agency on Wednesday.

Anonymous Tsunami Donor Leaves 10 Million Yen In Public Loo

 A mystery donor has left a bag filled with 10 bundles of a hundred 10,000 yen notes in a public restroom, with clear instructions that it should be used to help victims of the horrific March earthquake and tsunami.

Japan Contemplates Extra Budget of ¥1-2 Trillion to Boost Economy

The Japanese government is considering adding a fourth extra budget of ¥1-2 trillion (US$13-26 billion) for the current fiscal year as a means to fund additional economic steps without issuing new bonds, said the Yomiuri newspaper, as cited by Reuters, on Wednesday.

According to Yomiuri, the Japanese government will commence work on the budget in November, with the budget expected to last till the end of the fiscal year in March 2012.