Latest news with #Katayama
2 days ago
- Business
2-Yr-Sentence Sought for Ex-Sumitomo Mitsui Trust Worker
News from Japan Society Jun 2, 2025 16:32 (JST) Tokyo, June 2 (Jiji Press)--Prosecutors sought a two-year prison term for a former Sumitomo Mitsui Trust Bank employee in an insider trading trial on Monday. In their closing argument at Tokyo District Court, prosecutors pointed out that when he was in the bank the defendant, Hajime Katayama, 55, took the advantage of his position as a securities transfer agency business director to repeat stock transactions based on information about clients and gained some 29.3 million yen in profit. Then they demanded that Katayama be imprisoned for two years, fined 2 million yen and ordered to forfeit additional 61.4 million yen, calling him a habitual, malicious offender with a strong criminal intent. "There is no room for clemency," they stressed. Meanwhile, the defense in its final plea called for a cut in the penalty money and a suspended sentence, insisting that Katayama's case be treated as a voluntary surrender because he reported the illegal transactions to the Tokyo Public Prosecutors Office before they came to light. The defendant, who has already admitted to violating the financial instruments and exchange law, said, "I'm sorry for causing a big trouble." [Copyright The Jiji Press, Ltd.] Jiji Press
The Mainichi
22-05-2025
- Automotive
- The Mainichi
Japan auto body urges swift removal of Trump's additional tariffs
TOKYO (Kyodo) -- The head of Japan's auto industry body urged Thursday the swift removal of U.S. President Donald Trump's additional 25 percent tariffs on cars and their parts, as Tokyo plans another round of ministerial-level tariffs talks with Washington later this week. "We hope for tenacious talks to achieve an early agreement," Masanori Katayama, chairman of the Japan Automobile Manufacturers Association, told a press conference. He added that the association looks forward to "productive dialogue" to continue between Japan and the United States and hopes such discussions will foster the business environment of both countries' automotive industries. Japan's top tariffs negotiator, Ryosei Akazawa, is set to travel to the United States from Friday for the third round of tariffs talks with U.S. ministers, where negotiations in the auto and farm sectors are set to be in focus. Major Japanese automakers including Toyota Motor Corp. and Honda Motor Co. have projected a fall in net profits, while others skipped releasing their earnings estimates for the current year through March due to uncertainties over Trump's tariff measures. "It is impossible" for tariffs on autos not be negotiated in the talks with the United States, Katayama, chairman and CEO of Isuzu Motors Ltd., told reporters. Katayama stressed that Japanese automakers have contributed significantly to the U.S. economy, unveiling latest data that they have invested some $66.4 billion in the country since 1982, when local production there was launched, through the end of 2024. Data also showed that the automakers locally produced 100 million units. In 2024, 3.28 million units were produced, generating 110,000 jobs. Trump's auto tariffs have weighed on Japan's mainstay auto sector. According to official Japanese trade data, about 1.37 million vehicles were shipped to the United States in 2024, accounting for 28.3 percent of its total exports to the world's largest economy in terms of value.
Yahoo
27-03-2025
- Business
- Yahoo
Japan lawmaker says yen undervalued, eyes steps to reverse outflows
By Makiko Yamazaki and Yoshifumi Takemoto TOKYO (Reuters) - Japan's economic fundamentals suggest the yen's real value is closer to 120-130 per dollar rather than the current 150 levels, senior lawmaker told Reuters, as the ruling party considers steps to help reverse capital outflows. "I believe 120 to 130 levels to the dollar are seen as the value reflecting Japan's economic strength," Satsuki Katayama, who chairs the ruling Liberal Democratic Party's (LDP) research commission on the finance and banking systems, said in an interview on Tuesday. She declined to comment specifically where she believes the yen should trade. The Japanese currency fell past 150 to the dollar this week on solid U.S. data, cautious optimism on U.S. tariff policies and expectations that the Bank of Japan will go slow on monetary tightening. A weak yen has been a headache for Japanese policymakers because it accelerates inflation by pushing up import costs, weighing on consumption. Katayama said U.S. President Donald Trump's administration also does not want excessive yen weakness versus the dollar, but noted there are limits to what monetary policies of both countries can do to change the tide. "While currency interventions could serve as a trigger (for currency moves), their long-term impact tends to be limited, so we need measures that fundamentally address the issue," Katayama said. For example, the LDP is set to propose an expansion in a tax-free investment programme to encourage individual investors to own domestic stocks, she said. This could help stem the flow of household funds overseas, in turn supporting the yen. Specifically, holdings of domestic stocks held by elderly investors for an extended period of time under the programme should be exempt from inheritance tax when they are succeeded by younger generations, Katayama said. The Nippon Individual Savings Account (NISA) programme, which exempts retail investors from paying capital gains taxes on stock holdings, expanded significantly in 2024. But high-yielding overseas stocks have dominated the popular investment product rankings so far, which analysts see as one factor behind the yen's persistent weakness. "We want to create benefits for long-term investors in domestic stocks," Katayama said, adding that the LDP aims to include those measures in the government's annual policy guidelines for budget planning to be released around June. Sign in to access your portfolio
Reuters
26-03-2025
- Business
- Reuters
Japan lawmaker says yen undervalued, eyes steps to reverse outflows
TOKYO, March 26 (Reuters) - Japan's economic fundamentals suggest the yen's real value is closer to 120-130 per dollar rather than the current 150 levels, senior lawmaker told Reuters, as the ruling party considers steps to help reverse capital outflows. "I believe 120 to 130 levels to the dollar are seen as the value reflecting Japan's economic strength," Satsuki Katayama, who chairs the ruling Liberal Democratic Party's (LDP) research commission on the finance and banking systems, said in an interview on Tuesday. She declined to comment specifically where she believes the yen should trade. The Japanese currency fell past 150 to the dollar this week on solid U.S. data, cautious optimism on U.S. tariff policies and expectations that the Bank of Japan will go slow on monetary tightening. A weak yen has been a headache for Japanese policymakers because it accelerates inflation by pushing up import costs, weighing on consumption. Katayama said U.S. President Donald Trump's administration also does not want excessive yen weakness versus the dollar, but noted there are limits to what monetary policies of both countries can do to change the tide. "While currency interventions could serve as a trigger (for currency moves), their long-term impact tends to be limited, so we need measures that fundamentally address the issue," Katayama said. For example, the LDP is set to propose an expansion in a tax-free investment programme to encourage individual investors to own domestic stocks, she said. This could help stem the flow of household funds overseas, in turn supporting the yen. Specifically, holdings of domestic stocks held by elderly investors for an extended period of time under the programme should be exempt from inheritance tax when they are succeeded by younger generations, Katayama said. The Nippon Individual Savings Account (NISA) programme, which exempts retail investors from paying capital gains taxes on stock holdings, expanded significantly in 2024. But high-yielding overseas stocks have dominated the popular investment product rankings so far, which analysts see as one factor behind the yen's persistent weakness. "We want to create benefits for long-term investors in domestic stocks," Katayama said, adding that the LDP aims to include those measures in the government's annual policy guidelines for budget planning to be released around June.
Miami Herald
21-03-2025
- Automotive
- Miami Herald
Popular car brands sound the alarm on the impact of US tariffs
Some of the most popular automakers among motorists in the United States, including Honda (HMC) , Toyota (TM) and Subaru, warn that U.S. trade tariffs will eat into their output if they come through next month. According to a report by Automotive News, Japanese automakers' leaders are anticipating damage to their sector as they scramble to find a solution to mitigate the damage that could be done if 25% tariffs on all auto imports were to take effect on April 2. Get expert insights and actionable trade alerts from veteran investing experts and hedge fund managers. Join TheStreet Pro today and get the first month FREE The head of Japan's auto lobby, the Japan Automobile Manufacturers Association (JAMA), warned that President Trump's tariffs could throw a monkey wrench into the plans of automakers like Honda and Toyota. "If this were to happen on April 2, we could expect a significant production adjustment," JAMA Chairman Masanori Katayama said at its monthly news conference. "If production has to be adjusted, where would the damage be done, and how should we take care of it?" The JAMA board members, which includes the heads of popular automotive companies like Toyota, Honda, and Nissan, added the threat of tariffs as an "emergency agenda" item to their regular meeting. Additionally, Katayama said the group discussed its strategies to absorb and mitigate potential tariffs with the country's Ministry of Economy, Trade and Industry officials on March 19. "We will be looking at how to absorb short-term shocks and what concrete measures we can take to deal with these shocks, as well as how to deal with them in an all-Japan manner," Katayama said. He also noted that production cuts "does not mean that [car] production will be halted," adding that it was an "example of what we should think about in order to protect the state of the automobile industry as a Japanese export base." Related: Audi may drop an expensive bombshell on new car buyers Japan's auto lobby has been pushing the Japanese government over Trump's tariff threat and its impact on the Japanese car industry. Before his March 10 visit to the United States, JAMA leaders aggressively implored the Japanese trade minister, Yoji Muto, to push for an exemption from the looming duties affecting cars, steel, and other imports. However, according to a report from Nikkei Asia, Muto failed to gain any assurances following meetings with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington, D.C. Despite this, JAMA still wants the Japanese government to keep pushing. "We discussed with the ministry our response to the U.S. government, focusing on our sense of crisis as an industry," Katayama said. "We call on the Japanese government to continue its efforts to ensure that Japan will be exempted from the application of the additional tariffs." More Automotive: The most reliable new hybrids in 2025New car buyers are in for good news about inflated pricesBMW's newest Mini Cooper is a cool car for buyers on a budget Japanese automakers import cars, but invest in U.S. manufacturing. JAMA insists that Japanese automakers are major investors in American manufacturing. They note that since 1982, when Honda built its first auto factory in Marysville, Ohio, Japanese automakers have invested $61 billion in American production. Though production localization has helped cut the number of exports over the years, the auto industry is still an economic backbone in the land of the rising sun. Approximately 30% of Japan's overall exports to the States are cars, and as per NHK, Japan's national broadcaster, President Trump's 25% auto tariffs could shave 0.2 percentage points off Japan's economic growth rate. However, the effects of said tariffs will vary differently across companies. Toyota, the largest automaker in Japan and the world, exports the most cars to the U.S. However, the 538,685 cars it put on boats from Japan to the States in 2024 accounted for just 23% of its sales. Related: Consumer Reports' best American cars, trucks, & SUVs of 2025 Conversely, Subaru, Consumer Reports' top pick for overall car brand, relies heavily on imports. Though it has a facility in Indiana, it shipped 328,064 cars in 2024, or about half of its U.S. sales. Mazda, the MX-5 sports car maker, brought over 235,738 cars from Japan, or about 55% of its U.S. sales. Mazda has one plant in the States, a joint venture with Toyota located in Alabama. Mitsubishi, the makers of the Outlander and the Eclipse Cross is the lone Japanese automaker without a plant in the United States. It imports every vehicle it sells in the United States. Related: Veteran fund manager issues dire S&P 500 warning for 2025 The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
