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TMCNet:  Kyodo news summary -3-

[June 10, 2014]

Kyodo news summary -3-

(Japan Economic Newswire Via Acquire Media NewsEdge) ---------- Price of 10-year Japanese bond futures falls slightly in morning TOKYO - The price of the key futures contract for 10-year Japanese government bonds fell slightly Wednesday morning on selling due to rises in Tokyo stocks.


The price of the September contract lost 0.01 point to 145.22 on the Osaka Exchange.

---------- Japan asks China to drop "comfort women" UNESCO register bid TOKYO - Japan said Wednesday it has asked China to withdraw its application to list documents related to women who were forced to work at Japanese military brothels before and during World War II on UNESCO's Memory of the World Register.

"Japan has lodged a protest and asked China to withdraw the application," Chief Cabinet Secretary Yoshihide Suga said at a press conference, calling China's move extremely regrettable. "China's politically motivated move came at a time when the two nations need to make efforts to improve relations" soured by territorial and historical issues.

---------- Tokyo stocks edge up in morning after bright econ. outlook TOKYO - Tokyo stocks rose slightly Wednesday morning helped by a bright outlook for the Japanese economy shown by a government survey released before the session opened but later weighed down by the yen's uptrend.

The 225-issue Nikkei Stock Average gained 42.60 points, or 0.28 percent, from Tuesday to 15,037.40. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 6.42 points, or 0.52 percent, to 1,235.15.

---------- N.Y. appeals court rules in favor of Nissan over yellow cab supply NEW YORK - A New York State appeals court found legal Tuesday Nissan Motor Co.'s contract with New York City to provide its minivans for the city's yellow cab fleet exclusively for 10 years, overturning a lower court's decision that had nullified it.

Under the 2011 contract, over 13,000 yellow cabs in the city are to be replaced with Nissan NV200 minivans, but a local taxi association sued the city, arguing that the vehicles' fuel efficiency is unsatisfactory.

---------- Dollar trades at lower 102 yen ahead of BOJ meeting TOKYO - The U.S. dollar traded narrowly in the lower 102 yen zone Wednesday morning in Tokyo as market players retreated to the sidelines ahead of the Bank of Japan's policy meeting from Thursday.

At noon, the dollar fetched 102.30-33 yen compared with 102.30-40 yen in New York and 102.24-25 yen in Tokyo at 5 p.m. Tuesday.

---------- Higher power rates push Japan's May wholesale prices up 4.4% TOKYO - Japan's wholesale prices rose 4.4 percent in May from a year earlier, affected by higher electricity rates as well as increasing costs for petroleum and coal products, the Bank of Japan said Wednesday.

The index of corporate goods prices grew for the 14th straight month to 106.1, against the 2010 base of 100, amid the effects of the consumption tax hike from April, the central bank said in a preliminary report. The pace of growth compared with an upwardly revised 4.2 percent increase in April.

---------- Renesas to sell display chip subsidiary to U.S. Synaptics for 48.5 bil. yen TOKYO - Struggling electronics maker Renesas Electronics Corp. said Wednesday it will sell its Tokyo-based display chip subsidiary Renesas SP Drivers Inc. to U.S. IT company Synaptics Inc.

The purchase price of the subsidiary, which develops semiconductors for liquid crystal displays, is expected to be about 48.5 billion yen, according to Synaptics.

(c) 2014 Kyodo News

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