Japanese Bank Finds Novel Way to Attract Talent With Higher Pay
One rural bank has come up with a creative way to deal with the problem. Yamanashi Chuo Bank Ltd. has set up an 'investment advisory firm' to get around internal salary limits and attract talent to manage its ¥1.1 trillion ($7.6 billion) securities portfolio, said Yoshiaki Furuya, president of the lender.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
BOJ Stands Pat, Lifts Price View in Sign of Progress Toward Hike
(Bloomberg) -- The Bank of Japan held its benchmark rate steady and raised its inflation views more than expected in a sign it may be closer to its next rate hike, while keeping options open by warning it's still assessing the impact of President Donald Trump's tariffs. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus We Should All Be Biking Along the Beach The BOJ kept the overnight call rate at 0.5% at the end of a two-day policy meeting in a unanimous vote, according to a statement Thursday. All 56 surveyed economists forecast the decision. The nine-member board boosted its median inflation projection for the current fiscal year to 2.7% from 2.2% in its quarterly economic outlook report, reflecting persistent increases in food prices. It also slightly raised its forecasts for fiscal year 2026 and 2027, while bringing up its economic growth view a tad for this year. Economists had expected a shift to 2.5% for the current year's inflation forecast, and no change to other years. While the array of changes in the outlook suggested Governor Kazuo Ueda's board is closer to its next rate hike, the central bank also avoided dropping any clear hints as to the timing. Officials likely need time to gauge how US tariffs will affect Japan's economy and global commerce, even after a deal was struck between the US and Japan that's reduced some of the economic uncertainty hanging over Japan. Markets took the BOJ's decision in stride. The yen extended gains slightly against the dollar in the immediate aftermath of the decision and then oscillated in a relatively narrow range as Ueda spoke. Stocks closed higher, with little discernible impact from the decision. Japanese government bond futures swung from a small loss to a small gain. 'The BOJ's upward revision of its price outlook does make it seem like a rate hike is coming closer,' said Hiroki Shimazu, chief strategist at MCP Asset Management. 'At the same time, in the latest outlook report, the bank is also talking about an expected slowdown.' Those issues are key for markets, with the yen hovering near its weakest since early April and within easy reach of the psychological level of 150 to the dollar. Meanwhile, bond yields have been pushing higher in recent months, with the moves in longer-maturity debt spilling over into global markets. The BOJ gathering concluded just hours after the Federal Reserve kept its benchmark interest rate steady with Chair Jerome Powell, citing 'many, many uncertainties' impeding a move as Governors Christopher Waller and Michelle Bowman dissented by voting for a quarter-point cut. Powell tempered expectations for a rate cut in September. What Bloomberg Economics Says... 'The Bank of Japan's decision to stand pat Thursday was in line with our view that it's taking a cautious stance as it assesses the impact of US tariffs on exports. It likely also wanted to avoid making political waves with an increase in borrowing costs at a time when the government has been weakened further by a setback in the upper house election.' — Taro Kimura, economist Click here to read the full report The BOJ revised its assessment of the risk balance for inflation in its outlook report by saying risks were generally balanced. It only cited downside risks for fiscal years 2025 and 2026 in the report three months ago. That's another sign the board is looking at the potential case for higher rates down the road. The BOJ also softened its characterization of uncertainty over trade in the report summary to show it's no longer 'extremely' high, and reiterated its intention to raise rates if conditions allow. 'There have been positive developments in trade and other policies, such as negotiations between Japan and the United States resulting in an agreement,' the report said. Japan's government struck a trade deal with Washington on July 22 that will lower tariffs on US imports of Japanese autos and most other goods to 15%. Provided there's no change to the levies, BOJ officials expect they will have enough data by at least year-end to be able to consider whether a rate hike would be appropriate, people familiar with the matter told Bloomberg earlier this month. The BOJ's upgrade to the inflation outlook comes as persistently high living costs have made Japan among the most inflationary nations in the Group of Seven. Rising prices for food, especially rice, have driven the gains, compelling the bank to examine that impact on underlying inflation trends. Ueda has defended a gradual approach to rate hikes by noting that the price trend remains slightly below the bank's 2% target when measured through a comprehensive analysis. Persistently high living costs were a key concern for voters during this month's upper house election, which resulted in a historic setback for Prime Minister Shigeru Ishiba and his ruling coalition. The premier has so far vowed to stay in office even as some lawmakers within his Liberal Democratic Party have urged him to step down. Any political instability would complicate Ueda's job further as the bank would want to carefully communicate with the government after a history of clashes in past rate hike cycles. If the BOJ boosts rates once more, borrowing costs would rise to the highest level in three decades. 'If growth doesn't miss forecasts by much, I expect the BOJ to conduct an additional rate hike by year-end,' said Harumi Taguchi, principal economist at S&P Global Market Intelligence. 'The BOJ wants to assess how tariff impacts will affect Japanese corporate profits, as well as investment and wage hike trends, so I think they will make the move in December.' --With assistance from Brett Miller, Paul Jackson, Yoshiaki Nohara and Erica Yokoyama. (Updates with market moves as Ueda speaks.) Russia Builds a New Web Around Kremlin's Handpicked Super App Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
Tokyo Electron Cuts Outlook After China Chipmaking Demand Pauses
Tokyo Electron Ltd. slashed its full-year outlook below estimates after Chinese chipmakers slowed down efforts to stock up on equipment. The Japanese chip gear maker, which competes most directly with Applied Materials Inc., said it now sees operating income of ¥570 billion ($3.8 billion), down from ¥727 billion.
Yahoo
an hour ago
- Yahoo
Ericsson expands 4G and 5G network equipment partnership with SoftBank Corp.
Ericsson to supply network equipment for SoftBank's low, mid, and high bands Ericsson will contribute to SoftBank's 4G and 5G networks enhancement and expand further expansion of 5G Standalone coverage STOCKHOLM, July 31, 2025 /PRNewswire/ -- Ericsson (NASDAQ: ERIC) has strengthened its partnership with Japan's SoftBank Corp. (SoftBank) through a new commercial agreement covering 4G and 5G network products and solutions. Ericsson has been selected as one of the radio equipment vendors to enhance SoftBank's networks. Ericsson will enhance SoftBank's networks in the Hokkaido, Tohoku, Kanto, Hokuriku and Tokai regions, and parts of the Kansai region. SoftBank's 4G and 5G networks will be enhanced by utilizing products and solutions from the Ericsson Radio System. Frequencies covered in the agreement include low, mid and high bands. Ericsson will assist SoftBank in expanding 5G Standalone coverage and supporting advanced automation and operational efficiency improvements with AI. Hideyuki Tsukuda, Executive Vice President and CTO at SoftBank Corp., says: "SoftBank will promote network enhancement with a focus on 5G Standalone deployment and AI utilization, delivering an outstanding user experience for both enterprise and consumer customers in Japan. We are confident that adopting Ericsson's advanced radio technology will further accelerate the enhancement of our network's quality and operational efficiency with AI." Chafic Nassif, Head of Market Area North East Asia, Ericsson, says: "SoftBank has been at the forefront of connectivity engagement through every generation of mobility. As digitalization ramps up, Ericsson will work closely with SoftBank in our strengthened partnership to help drive its digital leadership ambitions through improved end-user experiences, AI and automation. This will also support SoftBank's role in helping Japan to achieve its wider digital economy aims as a nation." Portfolio details Ericsson will provide SoftBank with its latest radio access network (RAN) products, including the easy-to-install, lightweight Massive MIMO AIR 3255, which reduces energy consumption by up to 35 percent compared to previous models. The company will also deliver the energy-efficient, high-capacity, ultra-wideband AIR 6476. Ericsson will also supply its latest generation RAN Compute (basebands), optimized for real-time AI execution. The RAN hardware and software utilizing Ericsson's AI will enhance user experience, coverage, mobility and spectrum efficiency, and reduce energy consumption. Ericsson's RAN Compute, powered by Ericsson Silicon and the Many-Core Architecture (EMCA), enhances data storage and parallel processing capabilities. This enables real-time AI execution in the baseband, making AI deployment easier and more energy efficient. Related content:Ericsson 5G RANAI RAN and 5G network performance boost - EricssonEricsson Differentiated Connectivity NOTES TO EDITORS:SoftBank, the SoftBank name and logo are registered trademarks or trademarks of SoftBank Group Corp. in Japan and other countries. Other company names and product and service names mentioned in this press release are registered trademarks or trademarks of their respective companies. FOLLOW US:Subscribe to Ericsson press releases | Subscribe to Ericsson blog postshttps:// | | MORE INFORMATION ATEricsson (+46 10 719 69 92) (+46 10 719 00 00) ABOUT ERICSSON:Ericsson's high-performing networks provide connectivity for billions of people every day. For nearly 150 years, we've been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. ABOUT SOFTBANK by the SoftBank Group's corporate philosophy, "Information Revolution - Happiness for everyone," SoftBank Corp. (TOKYO: 9434) operates telecommunications and IT businesses in Japan and globally. Building on its strong business foundation, SoftBank Corp. is expanding into non-telecom fields in line with its "Beyond Carrier" growth strategy while further growing its telecom business by harnessing the power of 5G/6G, IoT, Digital Twin and Non-Terrestrial Network (NTN) solutions, including High Altitude Platform Station (HAPS)-based stratospheric telecommunications. While constructing AI data centers and developing homegrown LLMs specialized for the Japanese language with 1 trillion parameters, SoftBank is integrating AI with radio access networks (AI-RAN) with the aim of becoming a provider of next-generation social infrastructure. To learn more, please visit This information was brought to you by Cision The following files are available for download: PDF Ericsson expands 4G and 5G network equipment partnership with SoftBank Corp. An Ericsson engineer in Japan works on network equipment View original content: SOURCE Ericsson Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
