Word: yen
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...office now wants to know to what extent Ozawa is mired in the tangled path of how a sum of 400 million yen ($4.4 million) came to be used to buy residential land in western Tokyo in October 2004 to build housing for Ozawa's aides. Rikuzankai, Ozawa's funds-management body, failed to properly report the sum and could be in violation of Japan's Political Fund Control Law for misreporting the funds, not logging the land purchase properly and concealing an illegal donation from the construction company. Ozawa has apologized to the Japanese people for any "misunderstanding...
...lower than his disapproval rate of 44.1%, according to a recent Kyodo News poll. Last month, news broke that contributions from Hatoyama's mother were recorded as political funds coming from other donors - some of whom were dead. Hatoyama has promised to pay hundreds of millions of yen in tax on that sum, but the damage control has been slow. Still, according to a recent survey in the Yomiuri Shimbun newspaper, the DPJ's approval rating is still 23 points higher than that of the LDP. But cries for Ozawa's resignation grow louder as each day moves the ruling...
Months of speculation came to an end on Tuesday afternoon as Japan Airlines (JAL), the country's 59-year-old flagship carrier that once symbolized the strength of Japan Inc., filed for bankruptcy with two of its subsidiaries. Weighted by debts estimated at $25.6 billion (2.3 trillion yen), Japan Airlines Corp., Japan Airlines International and JAL Capital made history today as what is perhaps Japan's largest nonfinancial corporate failure. With a long record of unprofitable earnings, the airline has taken a hit from weak travel demand after SARS and H1N1, fuel surcharges and the global recession...
...will receive an investment of about 300 billion yen ($3.3 billion) from the ETIC, which the flailing airline approached in October, in addition to hundreds of billions of yen in debt waivers from its main lenders. In addition, the ETIC and the state-backed Development Bank of Japan will extend JAL a credit line of more than $3.5 billion. Key measures of the restructuring plan include cutting more than 15,000 jobs, or about 30% of its workforce, by the end of 2013, paring down to about half of its 110 group firms, and slashing unprofitable international and domestic routes...
...responsible trading partner." Upcoming bilateral trade talks, originally scheduled for February, have been indefinitely postponed. Taiwan, the sixth largest importer of U.S. beef and the U.S.'s ninth-largest trading partner, had been hoping the talks would pave the way for a Free Trade Agreement with the U.S. Yen says Ma probably was counting on progress in U.S. trade to balance fears over Taiwan's increasingly close economic ties with China. Taiwan and China are set to talk about a key trade agreement early this year, which has caused concern among the opposition, which advocates a more distanced relationship with...