Japan Financial News

It is one of the first statistics you will encounter in an economics class. Gross domestic product per capita, the size of the economy divided by population, is the go-to data point for comparing living standards and prosperity across countries and over time. Yet as the world ages, GDP per capita is becoming less useful.

Japan said on Friday it would prepare to ship Patriot air defence missiles to the United States after revising its arms export guidelines earlier that day, in the pacifist nation's first major overhaul of such export curbs in nine years. The announcement comes as Japan, which had long adopted a stance of not allowing exports of deadly weapons, seeks to boost its defence industry amid an increasingly tense security environment in the Indo-Pacific. «This holds significant meaning in terms of further strengthening the Japan-U.S. alliance.

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Japan on Friday finalised its record 7.7 trillion yen ($54.25 billion) defence budget for fiscal 2024, the second consecutive year in which the country increased defence spending by about a trillion yen from the previous year. The approved budget keeps Japan on track to boost military spending by 43 trillion yen over five years as it seeks to bolster defences in a complex security environment with an increasingly assertive China and unpredictable North Korea. The 2024 budget for the year starting April represents an increase of about 17% from the previous year's spending of 6.6 trillion yen. It includes over 200 billion yen to strengthen cyber capability as well as funding to start building ballistic missile defence warships with Aegis combat systems, the defence ministry said, estimating the cost per vessel at about 400 billion yen. A collapse in the yen has complicated Japan's defence build-up, sources previously told Reuters, forcing the government to initially reduce its defence procurement plan as the currency has lost 10% of its value against the U.S.

South Asian nation, according to a report by Bloomberg. Hironori Kamezawa, the CEO of the bank, expressed confidence in India's economic growth, stating, "For India, economic growth is not something that will be a challenge; it's a sure thing," as quoted by the Bloomberg report.

Navy has deployed an indigenous guided missile destroyer in the Gulf of Aden region in light of the piracy incident earlier this week, as per a release issued by the Defence Ministry. The move is aimed at augmenting the anti-piracy efforts in the Gulf of Aden region. The Indian Navy remains committed to ensuring the safety of merchant shipping and rendering assistance to mariners at sea as a 'first responder' in the region, as per the release. On the night of December 14, a report regarding a potential piracy incident onboard a Malta-flagged vessel, MV Ruen, was monitored on the UKMTO portal. The vessel was reported to be boarded by six unknown personnel. In a swift response, the Indian Navy's Maritime Patrol Aircraft deployed to investigate the incident arrived overhead at MV Ruen on December 15 and established communication with the crew.

Catch Live Market Updates here The domestic equity market ended higher on Thursday amid across-the-board buying as investors remained upbeat on India’s growth prospects. The Sensex ended 358.79 points, or 0.51%, higher at 70,865.10, while the Nifty 50 gained 104.90 points, or 0.50%, to settle at 21,255.05. “Market is likely to move in a range as investor participation is expected to gradually decline globally ahead of the Christmas and New Year holiday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Catch Live Market Updates here On December 21, the domestic equity market witnessed a healthy bounce back and ended higher amid across-the-board buying. The Sensex ended 358.79 points higher at 70,865.10, while the Nifty 50 gained 104.90 points, or 0.50%, to settle at 21,255.05. Nifty 50 formed a bullish piercing candlestick pattern on the daily chart, indicating potential bullish momentum.

Mitsubishi UFJ Financial Group Inc., Japan’s biggest bank, is looking to further expand in India after making key investments to tap the south Asia nation’s growth potential. “For India, economic growth is not something that will be a challenge,” Hironori Kamezawa, the bank’s chief executive officer, said in an interview.

South Korea’s top court has ordered two Japanese companies to financially compensate more of their wartime Korean workers for forced labor

Asian shares have slipped after Wall Street slammed the brakes on its big rally following disappointing corporate profit reports and warnings that the market had simply gone too far, too fast

The White House says President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan’s Nippon Steel

Gyeongseong Creature, an original South Korean series, is set to hit screens in two parts. Part 1, which has 7 episodes, is scheduled for release on December 22, 2023, with Part 2 with 3 episodes following on January 5, 2024. Both the parts will be available on the streaming platform at 12:00 a.m. PT/3:00 a.m. ET.

Global markets: US stocks opened higher on Thursday, following updated economic growth figures for the third quarter. The Dow Jones Industrial Average rose 143.32 points, or 0.39%, at the open to 37,225.32. The S&P 500 opened higher by 25.94 points, or 0.55%, at 4,724.29.

Indian Navy has deployed a second frontline ship in the Gulf of Aden to augment its anti-piracy mission, following the hijacking of a Malta-flagged cargo vessel by pirates. The Navy now has stealth guided-missile destroyer INS Kochi and INS Kolkata in the region, officials said. The Navy swiftly responded after receiving a call for help from MV Ruen, the Malta-flagged hijacked vessel, on December 14.

Anand Mahindra has shared a photo of Anandi Gopal Joshi of India, Keiko Okami of Japan and Sabat Islambouli of Syria who were the 1st licensed doctors in their respective countries. The photo was taken in 1885. «All educated at the Women’s Medical College in Pennsylvania. Anandibai was married at 9, became a mother at 14 & sadly passed away at the age of 22! But her life clearly is evidence of how a single individual can leave a strong footprint behind on the planet, despite incredible social constraints & a breathtakingly brief lifespan! Nothing is impossible,» Mahindra said in the post.

Investing.com — U.S. futures rose Thursday, bouncing after the previous session’s selloff, ahead of the release of key growth and employment data.

₹932 Crore to support Sustainable Development Goals (SDGs) initiatives in India. JICA, in a statement on Thursday, said that this loan will fund projects overseen by NITI Aayog. These projects are set to impact 112 aspirational districts and 500 aspirational blocks nationwide.

By Anton Bridge

Investing.com-- Most Asian stocks fell on Thursday as investors locked-in recent profits after a dovish Federal Reserve triggered a week-long rally, with Japan’s Nikkei 225 leading losses amid a deepening scandal involving the country’s biggest automakers.

Catch Live Market Updates here The domestic market ended with sharp losses on Wednesday as investors opted for profit booking after the indices hit record highs. The Sensex slumped 930.88 points, or 1.30%, to end at 70,506.31, while the Nifty 50 ended 302.95 points, or 1.41%, lower at 21,150.15. “Domestic equities are witnessing sell off after a sharp run up of more than 12% in the last seven weeks.