JPY News

Revised estimates released by Japan's Ministry of Economy, Trade and Industry Friday showed that month-over-month growth in industrial production for March was upwardly revised to 0.7 percent. Earlier, the ministry estimated the industrial production growth for March at 0.3 percent. The March reading represented a rebound from the 2.3 percent drop recorded for February.

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Core machine orders in Japan surged a seasonally adjusted 19.1 percent on month in March, the Cabinet Office said on Monday - worth 936.7 billion yen.

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In 2013 virtually all European auto brands achieved record sales in Japan. According to Japan Automotive Industry Association data (quoted in the Tokyo Shimbun), during the first 8 months of 2013, European cars captured an historic high 4.6% of Japan’s domestic market. By contrast, the U.S. share was a vanishingly low 0.3%.

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Following the conclusion of a 2-day monetary policy meeting, the Bank of Japan maintained status quo position with respect to its monetary policy. The Monetary Policy Board led by Governor Haruhiko Kuroda opted to persist with its policy of increasing the monetary base at an annual pace of 60-70 trillion yen despite cautioning of a reduction in demand and risk to economic growth due to the sales tax hike that came into effect in April.

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Corporate service prices in Japan were up 3.4 percent on year in April, the Bank of Japan said on Tuesday - following the 0.7 percent increase in March.

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Industrial output in Japan dipped 2.5 percent on month in April, the Ministry of Economy, Trade and Industry said on Friday.

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Capital spending in Japan climbed 7.1 percent on quarter in the first three months of 2014, the Ministry of Finance said on Monday - topping forecasts for an increase of 5.8 percent following the 4.0 percent gain in Q4.

Excluding software, capital spending jumped 8.3 percent - also beating expectations for 5.9 percent following the 2.8 percent gain in the previous three months.

Company profits surged 20.2 percent, slowing from 26.6 percent in the three months prior.

Company sales added 5.6 percent on quarter, accelerating from 3.8 percent in the fourth quarter.

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Japan will on Wednesday release May numbers for its domestic corporate goods price index, setting the pace for a modest day in Asia-Pacific economic activity.

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Business conditions in Japan declined in the second quarter, the latest business survey index from the Ministry of Finance revealed on Wednesday.

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Japan industrial production was revised to show a steeper decline in April, final figures from the Ministry of Economy, Trade and Industry showed Friday.

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