.JPG%3Fwidth%3D1260%26fit%3Dcover%26gravity%3Dfaces%26dpr%3D2%26quality%3Dmedium%26source%3Dnar-cms%26format%3Dauto%26height%3D630&w=3840&q=100)
Itochu-CP Group deal left Japan trading house with $841m in profit: CFO
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
5 hours ago
- Nikkei Asia
Japan Display to sell panel production equipment amid restructuring
A Japan Display employee works at the company's Mobara plant, which is now expected to close by year-end, earlier than initially planned. (Photo obtained by Nikkei) FUMIE YAKU TOKYO -- Japan Display plans to sell LCD and OLED panel production equipment at its Mobara fab in Chiba prefecture instead of moving it elsewhere for the plant's closing. Having abandoned the idea of relocating the equipment to its other remaining fab, the company will stop making panels for the Apple Watch. Japan Display has long struggled financially, forcing it to scale down operations.
Yomiuri Shimbun
10 hours ago
- Yomiuri Shimbun
Japan Says $550 Billion Package in Trade Deal Could Finance Taiwanese Chipmaker in US
TOKYO, July 26 (Reuters) – Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday. Japan agreed to the sweeping U.S.-bound investment initiative, which includes equity, loans and guarantees, in exchange for lower tariffs on its exports to the U.S. However, the structure of the scheme remains unclear. 'Japan, the United States, and like-minded countries are working together to build supply chains in sectors critical to economic security,' Akazawa told public broadcaster NHK. To that end, he said projects eligible for financing under the package are not limited to U.S. or Japanese firms. 'For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that's fine too,' he said, without specifying companies. The U.S. is significantly reliant on Taiwan's TSMC for advanced chip manufacturing, raising economic security concerns due to geographic proximity to China. TSMC announced plans for a $100 billion U.S. investment with U.S. President Donald Trump at the White House in March, on top of $65 billion pledged for three plants in the state of Arizona, one of which is up and running. Japan will use state-owned Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI) for the investments. A recent law revision has enabled JBIC to finance foreign companies deemed critical to Japan's supply chains. Akazawa told NHK that equity investment would account for just about 1-2% of the $550 billion, suggesting that the bulk will come in the form of loans and guarantees. When asked about the White House statement that the U.S. would retain 90% of the profits from the package, he clarified that the figure refers only to returns on equity investment, which would represent a small fraction of the total. While Japan initially hoped to secure half of the returns, a loss from the concession on the profit-sharing would be marginal compared to the roughly 10 trillion yen ($67.72 billion) in tariff costs that could be avoided under the deal, he said. He added that Japan aims to deploy the $550 billion investments during Trump's current term. ($1 = 147.6600 yen)
Japan Today
10 hours ago
- Japan Today
Japan, U.S. ministers reached trade agreement in mid-June: sources
File photo taken in June 2025 shows Japan's chief tariff negotiator Ryosei Akazawa (R) and U.S. Commerce Secretary Howard Lutnick shaking hands during tariff negotiations in Washington. (Photo not for sale)(Photo courtesy of the U.S. Department of Commerce)(Kyodo) ==Kyodo Japan's chief negotiator reached an agreement with U.S. Commerce Secretary Howard Lutnick in mid-June on a deal offering massive Japanese investment in the United States in exchange for a reduction in tariffs, sources close to the matter said Saturday. Over the following month, Japan focused on convincing U.S. President Donald Trump through Lutnick of the advantages of the agreement, with the proposal of expanding imports of U.S.-grown rice used as the final bargaining chip. The trade deal, announced by Trump on July 23, includes tariffs on Japanese cars set at 15 percent -- lower than the 27.5 percent that was to have been levied -- in exchange for $550 billion of Japanese investment in the United States. During the course of the negotiations, which spanned around three months from mid-April, Japan identified Lutnick as the only person who could communicate "directly and on a deep level" with Trump due to their close friendship of over 30 years, and directed its efforts on him, according to one of the sources. Ryosei Akazawa, Japan's chief tariff negotiator, built trust with Lutnick not only through in-person talks but also through dozens of phone calls, the source said. Believing that Lutnick placed a high priority on economic security amid China concerns, Japan emphasized its willingness to contribute to strengthening U.S. domestic supply chains and eventually reached an understanding with him. Trump, however, maintained a hardline stance even in late June, venting frustration that Japan does not import significant amounts of American cars and rice. "I'm not sure we're going to make a deal. I doubt it," he had said, while demanding additional concessions in exchange for lowering tariffs. The tide turned on July 22 immediately following Japan's upper house election. A sudden meeting was arranged for the following day between Trump and Akazawa, who was in Washington for an eighth round of talks. Akazawa and Lutnick began to "rehearse" in preparation for the talks, with Lutnick suggesting that a total investment of $400 billion be proposed in the expectation that Trump would ask for $500 billion. A board was prepared by U.S. officials to clearly show Trump how much Japan would investment. But Trump demanded even more, leaving Akazawa no choice but to agree to $550 billion. A senior official of the prime minister's office acknowledged that the deal does not align with World Trade Organization rules or the Japan-U.S. trade agreement that took effect in January 2020, but also conceded that Trump "is a president who genuinely believes in protecting his country through tariffs." © KYODO
