Kyodo economic news summary
TOKYO, Jan 14, 2003 (Kyodo via COMTEX) --
- Shipment volume of printing machines rises 5.6% in FY 2002
TOKYO - The shipment volume of printing machines by 35 manufacturers operating
in Japan is expected to rise 5.6% from the previous year to 43.53 million units
in fiscal 2002 through March 31, Yano Research Institute said Tuesday.
The marketing research firm attributed the volume gain to the popularity of
ink-jet printers with both copying and scanning functions.
- Companies raise 483 bil. yen in funds via IPOs in 2002
TOKYO - Companies that went public in 2002 raised a combined 483 billion yen in
funds through their initial public offerings (IPOs), marking a 35% drop from the
previous year, UFJ Tsubasa Research Institute said in a survey released Tuesday.
The decline in the amount reflects the fact that more companies set lower
offering prices due to the sluggish stock market, institute officials said.
- Microsoft unveils display providing remote access to PCs
TOKYO - The Japanese unit of U.S. software giant Microsoft Corp. on Tuesday
unveiled its wireless Smart Display technology that enables remote access to
personal computers (PCs).
The touch-sensitive screen enables remote operation of most programs via
wireless hookup and is like a "cordless handset" for the telephone, a Microsoft
official said.
- Post boxes at Lawson stores used as much as usual mailboxes
TOKYO - The mail collection service at Lawson Inc.'s convenience stores was used
as much as conventional mailboxes during the first five days of its operation
from Jan. 1, the head of the Postal Services Agency said Tuesday.
Lawson stores each received an average of 96 letters and postcards a day from
Jan. 1 to 5, close to the average of 100 posted in conventional mailboxes,
Hiroshi Matsui, director general of the agency, told a press conference.
- SingTel to offer 3G services by end of year
SINGAPORE - Singapore Telecommunications Ltd. (SingTel) will offer third
generation (3G) mobile services by the end of this year, a senior company
official said Tuesday.
SingTel Mobile, a wholly-owned subsidiary of SingTel, will award a contract for
construction and development of its 3G mobile network by mid-year and offer
selected 3G services by year's end, Lucas Chow, SingTel Mobile chief executive
officer, said in a speech.
- Moody's analyst predicts Japan's debt will continue to rise
TOKYO - Moody's Investors Service Inc. thinks Japan's ballooning government debt
will rise further if the nation sticks to its current policies, although the
risk of a government funding crisis in the country is still remote, the rating
agency's senior credit officer said Tuesday.
"Current economic conditions and policies do not suggest that the upward trend
in the ratio of general government debt to GDP (gross domestic product) can be
reversed in the near to medium term," Thomas Byrne said at the Japan National
Press Club.
- Sales of NTT DoCoMo's camera-equipped handsets top 5 mil.
TOKYO - NTT DoCoMo Inc. said Tuesday sales of its mobile phones equipped with
built-in cameras have surpassed 5 million units since the release of such
products in June last year.
The achievement came last Friday, only about three weeks after sales of such
handsets by Japan's dominant mobile phone service provider topped 4 million
units in November.
- Seiyu to accept 5 Wal-Mart executives as board members
TOKYO - Supermarket chain operator Seiyu Ltd. said Tuesday it will accept five
executives from U.S. retailer Wal-Mart Stores Inc. as members of its board.
Their appointments are subject to approval at an extraordinary meeting of
Seiyu's shareholders to be held March 26, Seiyu said. The five include Wal-Mart
International President John Menzer.
- Okuda repeats need for consumption tax hike
TOKYO - Top business leader Hiroshi Okuda reiterated Tuesday the need to raise
the consumption tax rate in the future from the current 5%, even if it may not
be possible in fiscal 2004 or before.
The economic situation may not allow any hike in the immediate future "but I
believe we should carry out thorough consultations in two to three years from
now on and raise it (in the near future)," Okuda, chairman of the Japan Business
Federation (Nippon Keidanren), said at a press conference.
- No. of subscribers to DSL services jumps 3.7-fold in 2002
TOKYO - The number of subscribers to digital subscriber line (DSL) high-speed
Internet access services came to 5,645,728 at the end of 2002, marking a
3.7-fold jump from the previous year, the telecom ministry said Tuesday.
Behind the rise was intensifying competition among DSL service providers,
resulting in declines in monthly service fees to the reasonable 2,000 yen level
and in various promotional campaigns, officials at the Ministry of Public
Management, Home Affairs, Posts and Telecommunications said.
- Japan automakers expanded Europe car registrations in 2002
BRUSSELS - Japanese automakers increased new passenger car registrations in
Western Europe in 2002, in contrast with a decrease in overall registrations,
according to a report released Tuesday by the European Automobile Manufacturers
Association.
A total of 14,390,163 new passenger cars were registered in 18 West European
countries in 2002, down 2.9% from the previous year, the association said.
- Next BOJ chief preferably from private sector: Takenaka
CANBERRA - Japan's Financial Services Minister Heizo Takenaka said Tuesday the
successor to Bank of Japan (BOJ) Governor Masaru Hayami should preferably be
someone from the private sector.
"If there are several candidates, someone from the private sector would be
preferable," Takenaka, who is also economic and fiscal policy minister, told
journalists traveling with him.
2003 Kyodo News (c) Established 1945
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KEYWORD: TOKYO
(Wall Street)
Daniel Nieves
