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Japan's AA- credit rating may be cut if economic outlook weakens

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Standard and Poor's affirmed Japan's sovereign-debt rating at AA- while maintaining a negative outlook and warning that a downgrade is likely if medium-term growth prospects weaken. The ranking is supported by an "ample net external asset position, relatively strong financial system, and diversified economy," S&P said in a statement today, also citing the yen's role as a "key international reserve currency." S&P has cut the ratings of European nations including France and Italy this year, along with reducing both the U.S. and Japan last year. Moody's Investors Service cut Japan by one step to Aa3 on Aug. 24, citing "the build-up in Japanese government debt since the 2009 global recession." Fitch Ratings has the nation at AA- with a negative outlook. (Bloomberg)

Nikkei surges 1.4 pct above 9,500 after China's easing

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Japan's Nikkei share average advanced 1.4 percent on Monday to trade above 9,500 for the first time in more than six months, encouraged by China's move to stimulate growth by cutting the amount of cash banks must hold in reserve. Coupled with receding concerns about chances of a near-term Greek debt default, this helped put the market into a so-called "risk-on" mode, with investors picking up riskier assets and cutting back defensive positions. Nicholas Smith, Japan strategist at CLSA, said the rally had further to go and it was not time to take profits. "You are not going to get vertigo when you are at the bottom rung of the step ladder. Japan has come down so far. It is absolutely at extreme valuations," he said. (Reuters)

Japan in contact with N. Korea over retrieval of remains

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Japanese government officials contacted North Korea last November and proposed that the two sides discuss the retrieval of the remains of Japanese people who died in North Korea and the establishment of a cemetery for them, sources close to Japanese-North Korean relations said Sunday. The North Korean side did not respond negatively to the idea, the sources added. The officials appeared to be hoping that the proposed discussions would serve as a catalyst for Japan and North Korea, which do not maintain diplomatic ties, to resume stalled bilateral talks aimed at resolving the long-standing issue of the past abduction of Japanese nationals. (Mainichi)

Ghibli creates animated magic in 'Secret World of Arrietty'

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In Japan, Studio Ghibli plays a role akin to Disney's place in American culture. Its wonderfully inventive films are celebrated as classics, with 2002's "Spirited Away" out-grossing "Titanic" to become the most successful movie in Japanese history. As Ghibli's cofounder Hayao Miyazaki nears retirement age, however, the question looms of who will carry on the studio's legacy. In light of this, Ghibli's new film "The Secret World of Arrietty" can be seen as a test run for first-time director Hiromasa Yonebayashi. Fortunately, it's a test he passes with flying colors. The film follows Arrietty, a 14-year-old - and 4-inch-tall - girl from a family of borrowers who live underneath the floorboards of humans' homes, taking only necessities that won't be missed. (insidevandy.com)

Egg vending machine spotted in Japan

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Japan is the country with the highest number of vending machines per capita, and you can just about get anything and everything from a vending machine. Apart from the usual physical sustenance that we are used to such as drinks and food, along comes this particular vending machine that takes the place of the chicken - by dispensing eggs, of course. I guess vending machines work in that part of the world because there might not be 24-hour convenience stores located at each block when you are in larger towns and cities around Japan. Operating this particular vending machine is a snap, as all you need to do is insert the right amount of coins in it, select your eggs and press a button. (ubergizmo.com)

School for Germans in Japan faces financial pinch after Fukushima

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The German School of Tokyo Yokohama, established more than a century ago, is facing financial difficulty and seeking aid from the German government, following a sharp drop in enrollments in the aftermath of the Fukushima nuclear crisis. The institution, offering kindergarten, primary and secondary schooling, requested financial aid from Germany in June and has been undertaking other steps to increase enrollments, according to the school. Michael Szewczyk, the head of the institution, said recently that he believes the request will be granted, given it is owing to the impact from the unprecedented nuclear accident. (Mainichi)

Nikkei up after China easing but falls short of 9,500

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Japan's Nikkei average jumped above its 1-year moving average on Monday, boosted by China's move to stimulate growth by cutting the amount of cash banks must hold in reserve but ended short of 9,500, a level where domestic investors are keen to lock in profits. A likely European approval later in the day for Greece to receive its second bailout after months of political brinksmanship and market turmoil also boosted the so-called "risk-on" mood, with investors picking up riskier assets and cutting back defensive positions. Nicholas Smith, Japan strategist at CLSA, said the rally had further to go and it was not time to take profits. (Reuters)

Japan shuts down nuclear reactor

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Japan on Monday began a process that will see another one of the country's nuclear reactors go offline, leaving just two of 54 in operation. Kansai Electric Power Co (KEPCO), the largest utility firm after Tokyo Electric Power Co (TEPCO), began lowering power generation in unit three at the Takahama nuclear plant in Fukui prefecture, a KEPCO spokeswoman said. The reactor is expected to be shut down completely by midnight, leaving all 11 reactors around the country owned by KEPCO idle, she said. (AFP)

Supreme Court upholds death penalty after campaign

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Japan's Supreme Court on Monday upheld the death sentence for a man who killed a young mother and her baby daughter when he was a juvenile, ending years of campaigning by the victim's husband. The decision closes a case that captured the public's imagination as the distraught father and husband Hiroshi Motomura fought for years to bring the killer to justice. Presiding judge Seishi Kanetsuki said the death penalty was inevitable for Takayuki Otsuki, who was 18 when he raped and killed 23-year-old Yayoi Motomura before strangling to death her 11-month-old daughter Yuka in 1999 in Yamaguchi, western Japan. (Straits Times)

Dead shark dumped in Tokyo's Yoyogi Park

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Police said Monday that a dead shark was found dumped in Yoyogi Park on Sunday morning. A security guard found the 1.5-meter-long shark, which had been gutted, at the entrance to the park nearest Shibuya Station at about 7 a.m., NTV reported. It was wrapped in a blue sheet. (Japan Today)

Quality gap narrows among Detroit, Korean and Japanese cars; price differences vanish

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Car shoppers today are less likely to end up with a lemon. In the past five years, global competition has forced automakers to improve the quality and reliability of their vehicles - everything from inexpensive mini-cars to decked-out luxury SUVs. The newfound emphasis on quality means fewer problems for owners. It also means more options for buyers, who can buy a car from Detroit or South Korea and know it will hold up like a vehicle from Japan. With few exceptions, cars are so close on reliability that it's getting harder for companies to charge a premium. So automakers are trying to set themselves apart with sleek, cutting-edge exterior designs and more features such as luxurious interiors, multiple air bags, dashboard computers and touch-screen controls. (Washington Post)

Journalists tour devastated Japanese nuclear plant

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Operators at Japan's earthquake and tsunami-ravaged Fukushima-Daiichi nuclear power plant ushered journalists clad in protective clothing through the plant on Monday, just weeks ahead of the first anniversary of the March 11 disasters. Reporters from about 30 Japanese and foreign media organizations entered the wrecked facility by bus and were allowed to leave the vehicle once. All carried respiration masks and radiation detectors, as they heard the plant's director apologize to nearby residents forced to flee their homes last year to avoid radiation contamination. The media visit - the second such tour since disaster struck - was conducted as the Nuclear Industrial Safety Agency made its first thorough inspection of safety equipment crucial to keeping the plant's six reactors in stable condition. (VOA News)

Japan: One year on

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Incredible new 'before and after' images show the almighty clear-up operation that has got Japan back on its feet just under a year after the devastating tsunami. On Friday 11 March last year, waves up to 130ft high hit small towns along the north-east coast of the country. Sadly, we now know that nearly 16,000 people died that day, most of them around the coastal cities of Sendai and Ishinomaki in the Tohoku Region. Just under a year later, life is returning to normal - with roads cleared and rebuilt, debris removed and devastated buildings torn down. (The Sun)

Residents of three towns received as much as 23 millisieverts of radiation

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The Fukushima Prefectural Government said Monday that residents in three municipalities near its crippled nuclear plant were exposed to as much as 23 millisieverts of radiation in the four months after the meltdowns triggered by the March 11 earthquake and tsunami. The limit for the general public is 1 millisievert a year. "As annual radiation exposure of up to 100 millisieverts poses no specific cancer risks, the estimated radiation is unlikely to cause any adverse health effect," Fukushima Medical University Vice President Shunichi Yamashita said at the press conference held to announce the figure. "It is important to reduce future radiation exposure as much as possible." The International Commission on Radiological Protection has urged that an emergency limit of 20 to 100 millisieverts per year be adopted for the crisis. (Japan Times)

Search for disaster victims held on Fukushima coast

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Some 100 officers from the Miyagi Prefectural Police force conducted an intensive search Monday for remains near an elementary school in Ishinomaki that lost 70 of its 108 students to the quake and tsunami on March 11. Nine of the 13 teachers and administrative staff at Okawa Elementary School also died, and four students and a teacher are still listed as missing, along with 45 other residents of the Okawa district. Police searched the Fuji River, which runs in front of the school, and have dammed up the waterway for about 1.3 km in order to dredge riverbed mud in the search for remains. (Japan Times)

Japanese firms seek Europe phone market share

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Japanese companies Fujitsu and Panasonic plan to enter the European smartphone market as rivals Apple and Samsung have piled on the pressure in their previously isolated home market. Panasonic unveiled on Monday its Eluga model, marking its re-entry to the European market, and Fujitsu said it plans to roll out a wider portfolio of products in Europe. Japanese handset makers have struggled to compete outside their home country, in part owing to a focus on technology for the domestic market, and analysts say they will likely also struggle this time to break into the tightly competed sector. (baltimoresun.com)

Japan, China want Europe to help itself

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Finance Minister Jun Azumi and Chinese Vice Premier Wang Qishan's confirmation on Sunday that they would take concerted action to help contain the debt crisis in Europe is believed to reflect the two countries' strong apprehension that the crisis may spread to Asia. Japan and China also are expected to cooperate in calling for self-help efforts by European nations during a meeting of the Group of 20 financial ministers and central bank governors that will start in Mexico on Saturday. The focus of the bilateral meeting was to discuss ways to prevent the European debt crisis from deteriorating further and ways to check the crisis' affect on Asian nations. (Yomiuri)

66% of middle schools to start judo classes

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About 66 percent of public middle schools nationwide are likely to choose judo as a mandatory martial arts class from the start of the new school year in accordance with a new government initiative, a Yomiuri Shimbun survey has revealed. The survey also shows that preparedness for the new program, which involves first- and second-year students of both genders, differs depending on local boards of education. One recent study found that 114 middle and high school students were fatally injured during judo classes over the last 28 years. As a result, some parents have voiced concern over whether schools are properly prepared to teach judo in the new program. (Yomiuri)

3 people found dead apparently from starvation in Saitama apartment

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Three people were found dead in an apartment in Saitama City on Monday afternoon, after having apparently died of starvation, police said. The three bodies, believed to be a couple in their 60s and their son in his 30s, were found in the apartment after an agent for a housing company came to collect unpaid rent, NTV reported. The family was 6 months behind in rent and gas and electricity had been cut off. They were found lying on futons. The doors and windows were locked and there were no external injuries on the body, police were quoted as saying, according to NTV. (Japan Today)

Japan to win exemption from Iran sanctions by U.S.

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Japan is likely to win an exemption from U.S. sanctions by reducing its imports of crude oil from Iran by at least 11 percent per year, the Yomiuri newspaper said on Tuesday. The two countries reached an agreement at talks last week, with a formal deal expected by the end of this month, the report said, citing unnamed sources. The United States, angry over Iran's nuclear program, wants Japan, to cut back on Iranian imports. Japan is the third-biggest customer for Iranian oil. It needs to import more oil in the wake of the Fukushima nuclear crisis, and the country's refiners have yet to make significant cuts, awaiting the Japanese government's instructions. (Reuters)
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