Japan

Financial News

Dollar Trades Near Three-Week Low Against Yen Before Retail Sales Report The dollar traded near a three-week low against the yen before a government report tomorrow that will probably show U.S. retail sales declined, adding to evidence the U.S. economy is slowing.

Calpers, 5 Foreign Funds Seek Reforms in Japanese Companies, Nikkei Says The California Public Employees' Retirement System, or Calpers, and five other U.S. and European funds will jointly ask Japanese companies to change corporate governance practices, the Nikkei English News reported, without saying where it got the information.

Asia DayAhead: Kuwait Awards $15 Billion Refinery; Dollar Bulls Advancing Kuwait awarded contracts to build a $15 billion refinery to Fluor Corp. and four South Korean construction companies. Futures traders are turning bullish on the dollar for the first time since December 2005.

Nissan, NEC to Mass-Produce Lithium Ion Batteries for Cars, Nikkei Reports Nissan Motor Co. and NEC Corp. will jointly spend about 20 billion yen ($194 million) for the world's first mass production of lithium-ion batteries for hybrid and electric cars, the Nikkei newspaper reported.

Citigroup May Sell or Scale Back Japan Consumer Finance Unit, Nikkei Says Citigroup Inc. may either sell its Japanese consumer finance unit, CFJ KK, or reduce its operations significantly as part of its plan to reorganize and sell assets, the Nikkei English News reported without citing sources.

Stocks Fall, Snapping 7 Weeks of Gains, as Companies Predict Earnings Drop Japanese stocks fell, snapping a seven- week gain, after businesses from Toyota Motor Corp. to Olympus Corp. forecast lower profit, rekindling concern company earnings can't withstand a slowdown in the world economy.

NTT Is Considering Stock Split to Avoid Stakes of Less Than One Share Nippon Telegraph & Telephone Corp. may conduct a 100-for-1 stock split to prepare for the introduction of electronic stock certificates next year, the company said.

General News

Japan to Set Goal of Cutting Gas Emissions by 80% by 2050, Nikkei Says Japan's Prime Minister Yasuo Fukuda will set a goal of cutting the country's greenhouse gas emissions as much as 80 percent by 2050, Nikkei reported, without saying where it got the information from.

Japan Opposition Wants Seniors' Medical Insurance Law Scrapped, NHK Says Japanese opposition parties will submit a bill later this month to abolish a new medical insurance law targeting people aged 75 years and older, an opposition party politician said in a NHK program.

China's President Hu Calls Five-Day Japan Visit `Successful,' AFP Reports Chinese President Hu Jintao said his five-day visit to Japan was ``harmonious and successful,'' Agence France-Presse reported, citing comments Hu made in the western Japanese city of Nara.

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