SoftBank’s Masayoshi Son may have become billions richer in one day

SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made So


SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made So
SoftBank’s Masayoshi Son may have become billions richer in one day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, day, billions, billion, son, share, softbanks, yen, shares, thursdays, trading, stock, richer, website, masayoshi, softbank


SoftBank's Masayoshi Son may have become billions richer in one day

SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session.

SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0.

Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made Son about 346.81 billion yen ($3.15 billion) richer.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, day, billions, billion, son, share, softbanks, yen, shares, thursdays, trading, stock, richer, website, masayoshi, softbank


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SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent

Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a th


Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a th
SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, stock, unveils, buyback, quarterly, reported, yen, profit, softbank, 60, valuations, soars, group, operating, q3, shares, billion, technology


SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent

Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments.

SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock.

The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in domestic telco SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit.

SoftBank Group said its operating profit in the October-December quarter was 438.3 billion yen ($3.99 billion) versus 274 billion yen a year earlier. The year-earlier figure used previous accounting standards.

Profits at SoftBank Group are increasingly affected by the valuations of big technology bets through its own investing activities and its Saudi-backed Vision Fund, which launched last year with over $90 billion in capital.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, stock, unveils, buyback, quarterly, reported, yen, profit, softbank, 60, valuations, soars, group, operating, q3, shares, billion, technology


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SoftBank unit marks Japan’s largest-ever IPO, but sinks more than 14 percent

SoftBank will be replacing its Huawei hardware in its 4G network infrastructure over the next few years and using equipment from Ericsson and Nokia instead, according to Japan’s Nikkei Asian Review. It is also expected to place orders with the two European companies for its 5G networks, the Nikkei reported. Sprint’s prospective $26 billion merger with Deutsche Telekom-owned T-Mobile U.S., meanwhile, was approved by the U.S. government on Monday after SoftBank and the German company said they wou


SoftBank will be replacing its Huawei hardware in its 4G network infrastructure over the next few years and using equipment from Ericsson and Nokia instead, according to Japan’s Nikkei Asian Review. It is also expected to place orders with the two European companies for its 5G networks, the Nikkei reported. Sprint’s prospective $26 billion merger with Deutsche Telekom-owned T-Mobile U.S., meanwhile, was approved by the U.S. government on Monday after SoftBank and the German company said they wou
SoftBank unit marks Japan’s largest-ever IPO, but sinks more than 14 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-19  Authors: kelly olsen, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, transformation, 14, using, tokyo, vision, think, largestever, unit, softbank, japans, fund, technology, ipo, marks, equipment, capital, sinks


SoftBank unit marks Japan's largest-ever IPO, but sinks more than 14 percent

SoftBank will be replacing its Huawei hardware in its 4G network infrastructure over the next few years and using equipment from Ericsson and Nokia instead, according to Japan’s Nikkei Asian Review. It is also expected to place orders with the two European companies for its 5G networks, the Nikkei reported.

Sprint’s prospective $26 billion merger with Deutsche Telekom-owned T-Mobile U.S., meanwhile, was approved by the U.S. government on Monday after SoftBank and the German company said they would stop using Huawei’s equipment, Reuters reported.

Mark Einstein, chief analyst for telecommunications and digital services at ITR Corporation in Tokyo, said he was not surprised by SoftBank’s share price drop given the challenges faced by both the company and the Japanese telecommunications market more broadly.

He listed those as government pressure to cut costs, expenses related to next year’s 5G roll out in the country, Rakuten’s entry to the market and higher capital expenditures resulting from Chinese equipment being shut out.

“So I think for SoftBank’s bottom line it means that they’re going to be forced to use European and American equipment, which is going to be more expensive,” he said on CNBC’s “Capital Connection.”

The listing on the Tokyo Stock Exchange also comes as Son, one of the tech world’s most powerful people, makes waves with his $100 billion Vision Fund, and marks the transformation of the group from a mobile carrier to a global investment fund.

“He’s trying to court a new type of investor that actually shares his vision in the outlook for (Internet of Things technology), for robotics and most importantly artificial intelligence,” Chris Lane, senior researcher at Sanford C. Bermstein, said Wednesday on CNBC’s “Squawk Box” before trading began.

“So this is part of that transformation,” Lane said. “I think it’s a fairly major step in that transformation.”

The fund was established in October 2016 and is aimed at boosting promising businesses in the technology sector.

“IPO proceeds will supplement the holding company’s liquidity, although a large part of proceeds to SoftBank may eventually be used to fund its remaining capital commitments to the SoftBank Vision Fund (SVF), which continues to invest in internet and emerging technology businesses,” Moody’s Investors Service said in a report last month.


Company: cnbc, Activity: cnbc, Date: 2018-12-19  Authors: kelly olsen, kazuhiro nogi, afp, getty images
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Japan’s SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n


Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n
Japan’s SoftBank to replace Huawei equipment, Nikkei reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


Japan's SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday.

SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet.

The 5G network is the next telecommunications standard that facilitates quicker transfer of data, and allows more devices to connect to the internet.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


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SoftBank’s record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro


SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro
SoftBank’s record IPO reaches $23.5 bln after extra share sale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


SoftBank's record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor.

Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated.

It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

The group, which controls the world’s biggest tech private equity fund at nearly $100 billion, will use the proceeds to invest in startups which have ranged from tiny games makers to U.S. ride-hailing giant Uber Technologies Inc.

“Demand was well above the number of shares on offer,” SoftBank Corp said, declining to disclose by how much.

The stock will debut on the Tokyo Stock Exchange’s first section on Dec. 19.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
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Amazon bet on Arm could weaken Intel’s hold on data centers, which make up one-third of its business

The plan is to allow customers to request instances that use the Arm chips, Garman said. So far, AWS instances using the Arm processors aren’t performing as well as comparable instances that rely on Intel chips, according to tests that one person ran. Still, the availability of Arm from the biggest cloud provider represents a win for Arm. What’s more, other cloud providers could start to release instances using technology from Arm, which was acquired by Softbank in 2016 for $32 billion. “Microso


The plan is to allow customers to request instances that use the Arm chips, Garman said. So far, AWS instances using the Arm processors aren’t performing as well as comparable instances that rely on Intel chips, according to tests that one person ran. Still, the availability of Arm from the biggest cloud provider represents a win for Arm. What’s more, other cloud providers could start to release instances using technology from Arm, which was acquired by Softbank in 2016 for $32 billion. “Microso
Amazon bet on Arm could weaken Intel’s hold on data centers, which make up one-third of its business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: jordan novet, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, hold, cloud, centers, servers, amazon, using, bet, business, weaken, aws, onethird, data, chips, intels, instances, customers, arm, garman, processors


Amazon bet on Arm could weaken Intel's hold on data centers, which make up one-third of its business

Energy-efficient processors based on the Arm architecture could be more widely deployed after Amazon Web Services’ introduction of Arm-based cloud-computing resources for developers this week.

The prospect of Softbank-owned Arm growing beyond consumer devices like smartphones and becoming a force in enterprise computing represents a challenge to Intel, whose processors are widely used inside servers operating in cloud and corporate data centers. Intel’s data center group is its second-largest by revenue, making up 32% of Intel’s revenue in Q3, and is growing faster than the company’s still-larger business of making chips for PCs and other devices.

These chips reduce the total cost of ownership of the servers that encase them, which can in turn benefit customers, Matt Garman, AWS’ vice president for compute services, told CNBC in an interview at the AWS re:Invent conference in Las Vegas this week.

Early feedback in just the few days since Amazon announced the chips has been positive, he said.

“I’ve seen Fortune 1000 big enterprises coming to us, saying, ‘Holy cow, this it interesting for some Internet of Things use cases,” he said. Don MacAskill, CEO of one of AWS’ early customers, SmugMug, had been asking him for Arm-based chips on the Amazon cloud for the past six years, Garman said.

Some of the many AWS tools for developers, like the Lambda “serverless” computing service, could potentially run on the Arm servers in the future, even if most of Amazon’s applications will keep using the popular x86 architecture that Intel’s chips use for a long time, Garman said.

In addition to announcing the Arm chips this week, AWS also said that it will start offering servers that customers can install in their own data centers, for applications that just can’t be run in the public cloud. From the AWS website, customers will be able to choose various types of EC2 computing instances that can be run, and from there, AWS will be able to deliver the right servers to meet companies’ needs.

The plan is to allow customers to request instances that use the Arm chips, Garman said. In other words, AWS could widen the distribution of Arm through the server product well beyond its own corporate boundaries.

“Any instance that we have is the goal, whether it’s Nvidia GPUs, whether it’s Arm, whether it’s Intel, as part of that service,” Garman said.

So far, AWS instances using the Arm processors aren’t performing as well as comparable instances that rely on Intel chips, according to tests that one person ran.

Still, the availability of Arm from the biggest cloud provider represents a win for Arm.

“AWS’ embrace gives Arm the shot of credibility to expand its footprint into more cloud players and workloads,” industry analyst Patrick Moorhead of Moor Insights & Strategy wrote in a message to CNBC on Friday.

In the years to come, AWS could release new instances based on more powerful Arm-based chips. The existing instances use Arm’s Cortex-A72 system, which was introduced in 2015.

And Arm is working on new processor technology that could enable greater performance, the company’s CEO, Simon Segars, told CNBC in an interview this week.

What’s more, other cloud providers could start to release instances using technology from Arm, which was acquired by Softbank in 2016 for $32 billion.

“Microsoft has shown in the past the use of Arm processors in their infrastructure,” Segars said. “They haven’t had that commercially available, but they’ve shown what it can do.”

With several big companies competing in the market for cloud infrastructure, competition is fierce, he said.

“If there’s a way to offer the processing capability at lower cost, then I would think everybody that plays in that space would want to take advantage of it,” Segars said.

WATCH: Company little changed after Softbank acquisition: Arm CEO


Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: jordan novet, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, hold, cloud, centers, servers, amazon, using, bet, business, weaken, aws, onethird, data, chips, intels, instances, customers, arm, garman, processors


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Japan’s SoftBank reports profit surge on Vision Fund strength

Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds. SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards. SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the


Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds. SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards. SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the
Japan’s SoftBank reports profit surge on Vision Fund strength Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, higher, hightech, arabia, bets, reports, profit, japans, fund, strength, saudi, yen, valuations, billion, surge, vision


Japan's SoftBank reports profit surge on Vision Fund strength

Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds.

SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards.

SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the world’s largest private equity fund — is recording higher valuations on high-tech bets such as on ride-hailing firm Uber Technologies Inc and General Motors Co’s Cruise self-driving vehicle unit.

For investors, however, SoftBank’s ties to Saudi Arabia have become a source of unease since the murder of Saudi journalist Jamal Khashoggi.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, higher, hightech, arabia, bets, reports, profit, japans, fund, strength, saudi, yen, valuations, billion, surge, vision


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Japan inflation ticks up as oil rises but the central bank’s target remains elusive

Japan’s annual core consumer inflation ticked up in September but remained at half the pace of the central bank’s elusive 2 percent target, underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook. Private spending needs to increase more for core consumer inflation to accelerate beyond 1 percent,” said Takeshi Minami, chief economist at Norinchukin Research Institute. BOJ Governor Haruhiko Kuroda on Thursday offered a slightly more upbeat view


Japan’s annual core consumer inflation ticked up in September but remained at half the pace of the central bank’s elusive 2 percent target, underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook. Private spending needs to increase more for core consumer inflation to accelerate beyond 1 percent,” said Takeshi Minami, chief economist at Norinchukin Research Institute. BOJ Governor Haruhiko Kuroda on Thursday offered a slightly more upbeat view
Japan inflation ticks up as oil rises but the central bank’s target remains elusive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, banks, ticks, core, japan, central, elusive, trade, months, inflation, target, rises, boj, remains, price, costs, oil, slightly, prices, consumer


Japan inflation ticks up as oil rises but the central bank's target remains elusive

Japan’s annual core consumer inflation ticked up in September but remained at half the pace of the central bank’s elusive 2 percent target, underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook.

While the rate of increase was the fastest in seven months, the gain was due mostly to higher oil costs with most other items rising only slightly, government data showed on Friday.

“We’re not seeing inflationary pressure build up. Private spending needs to increase more for core consumer inflation to accelerate beyond 1 percent,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

“Inflation will probably stagnate around current levels for some time.”

The nationwide core consumer price index (CPI), which strips away the effect of volatile fresh food costs, rose 1.0 percent in September from a year earlier, matching a median market forecast and ticking up from 0.9 percent in August.

The so-called core-core CPI, a more closely watched gauge the Bank of Japan uses that excludes the effect of both fresh food and energy costs, stood at 0.4 percent in September, in line with the previous month.

The inflation data will be among factors the central bank examines at its rate review on Oct. 30-31, when it conducts a quarterly review of its growth and price projections.

BOJ Governor Haruhiko Kuroda on Thursday offered a slightly more upbeat view on prices than three months ago, saying that core consumer inflation was “moving around 1 percent.”

Rising energy costs may give the BOJ justification to slightly revise up its inflation forecasts, though the boost may be moderated by uncertainty over the fallout from escalating trade frictions, analysts say.

In a quarterly report scrutinizing Japan’s regional economies, the BOJ cut its assessment for two regions and warned that companies were becoming increasingly worried about the hit from the simmering Sino-U.S. trade frictions.

Under current projections made in July, the BOJ expects core consumer inflation to hit 1.1 percent in the year ending in March 2019, and accelerate to 1.5 percent the following year.

Stubbornly soft inflation has dashed the BOJ’s hopes that solid economic growth will translate into higher prices, and could delay the central bank’s exit from ultra-loose policy.

Japan’s economy rebounded in the second quarter from a contraction in the first three months of this year thanks to robust business spending.

But escalating trade frictions and a series of natural disasters that disrupted supply chains cloud the outlook for the export-reliant economy, with some analysts projecting a slight contraction in the July-September quarter.

Uncertainty over the economic outlook adds to challenges for the BOJ, which has struggled to fire up wages and prices despite years of heavy money printing.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, banks, ticks, core, japan, central, elusive, trade, months, inflation, target, rises, boj, remains, price, costs, oil, slightly, prices, consumer


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Japan exports fall for first time since 2016 as trade war fears mount

Japan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war. Japan’s exports to the United States declined 0.2 percent in the year to September, dragged down by falling shipments of construction and mining machinery, auto parts and medicines. The U.S. Trade Representative’s office told Congress on Tuesday it would open trade talks with Japan, describing th


Japan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war. Japan’s exports to the United States declined 0.2 percent in the year to September, dragged down by falling shipments of construction and mining machinery, auto parts and medicines. The U.S. Trade Representative’s office told Congress on Tuesday it would open trade talks with Japan, describing th
Japan exports fall for first time since 2016 as trade war fears mount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, 2016, japans, war, fears, trade, yen, united, mount, surplus, billion, states, exports, showed, fall, japan


Japan exports fall for first time since 2016 as trade war fears mount

Japan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war.

The data comes days after a Reuters poll showed a third of Japanese companies have been affected by the trade conflict between the world’s two biggest economies with firms fretting about slower Chinese demand.

Japanese policymakers also worry about the overall economic impact of the international trade tensions. A powerful typhoon that hit Japan last month has added to the strain on factories, disrupting output and physical distribution.

Ministry of Finance (MOF) data out on Thursday showed Japanese exports fell 1.2 percent in September from a year earlier, against a 1.9 percent increase expected by economists in a Reuters poll, following a 6.6 percent gain in August.

It was the first decline since November 2016.

“The continued weakness in exports in September suggests that economic activity may have stagnated in Q3,” Marcel Thieliant, senior Japan economist at Capital Economics, said in a note to clients.

Japan’s exports to the United States declined 0.2 percent in the year to September, dragged down by falling shipments of construction and mining machinery, auto parts and medicines.

U.S.-bound auto exports amounted to some 143,000 cars, down 7.0 percent in a snapback from the previous year’s brisk shipments.

Imports from the United States rose 3.1 percent in September, led by crude oil, liquefied petroleum gas, helping reduce Japan’s trade surplus with the United States by 4.0 percent year-on-year to 590 billion yen ($5.24 billion).

The U.S. Trade Representative’s office told Congress on Tuesday it would open trade talks with Japan, describing the country as an important yet underperforming market for U.S. exports.

Tokyo and Washington last month agreed to start trade talks in an arrangement that, for now, avoids the worst-case scenario of an imminent 25 percent tariff on cars.

Trump has made clear he is unhappy with Japan’s $69 billion trade surplus with the United States – nearly two-thirds of it from auto exports – and wants a two-way agreement to address it.

Tokyo pushed back on a straight bilateral Free Trade Agreement (FTA) that Washington had sought, fearing it could put Japan under pressure to open politically sensitive sectors such as agriculture.

Thursday’s trade data showed exports to China, Japan’s biggest trading partner, fell 1.7 percent in the year to September, the first decline in seven months, dragged down by semiconductor production equipment.

Shipments to Asia, which account for more than half of Japan’s overall exports, rose 0.9 percent.

Overall imports rose 7.0 percent in the year to September, versus the median estimate for a 13.7 percent annual increase.

The trade balance was surplus of 139.6 billion yen, compared with the median estimate for a shortfall of 50.0 billion yen.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, 2016, japans, war, fears, trade, yen, united, mount, surplus, billion, states, exports, showed, fall, japan


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