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NEWS
October 18, 1990 | LESLIE HELM, TIMES STAFF WRITER
High interest rates, falling stock prices and weak property sales are slowing Japan's financial juggernaut. That's of great concern in the United States, where Japanese money has supported everything from the U.S. budget deficit to the expansion of urban skylines. The recent reduction of such investment has been partly responsible for depressing U.S. commercial real estate values and driving up American interest rates, many experts say. And U.S.
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WORLD
August 29, 2011 | By John M. Glionna, Los Angeles Times
In a now familiar political ritual, Japan's ruling party on Monday picked a new prime minister -- the sixth in five years -- to lead the nation past a host of domestic ills, including a stagnant economy and a lingering nuclear crisis. In a tense runoff vote, Finance Minister Yoshihiko Noda, known as a tight-fisted fiscal hawk, defeated his closest rival, Trade Minister Banri Kaieda, even though Kaieda's had the backing of a powerful but publicly disgraced party boss. The 54-year-old Noda replaces outgoing Prime Minister Naoto Kan, who resigned Friday after just 15 months in office, carrying through on a promise to step down amid criticism that he had mishandled the nation's response to the March 11 earthquake and tsunami.
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BUSINESS
May 29, 1990 | ELAINE KURTENBACH, ASSOCIATED PRESS
Japan's land prices are so inflated that many experts fear a sudden drop could devastate domestic financial markets and send shock waves throughout the global economy. Nonetheless, few believe that such a calamity is likely. Although pressure for land reform in Japan has grown dramatically over the past year, any changes are expected to be slow and cautious. Japan is only 4% the size of the United States, but its real estate assets are worth $14.9 trillion--four times the value of all U.S.
NEWS
November 16, 1998 | From Associated Press
Japan's Cabinet approved a record economic stimulus package today worth nearly $200 billion in an attempt to bring the country out of its worst recession in decades. The massive plan was aimed at turning around the Japanese economy by next year, Prime Minister Keizo Obuchi told reporters after the decision. "We must do all we can to cut the vicious cycle of recession in order to put the nation's economy back into recovery," Obuchi said.
NEWS
September 21, 1991 | EDWIN CHEN, TIMES STAFF WRITER
In perhaps a last-ditch attempt to attract critical Japanese funding, the Bush Administration is offering to make a reluctant Tokyo part owner of the $8.2-billion atom smasher to be built in Texas, officials said Friday. "We will be inviting them to essentially buy an equity position" in the high-energy physics project, White House science adviser D. Allan Bromley said. Such foreign share holding in a U.S.
NEWS
November 16, 1998 | From Associated Press
Japan's Cabinet approved a record economic stimulus package today worth nearly $200 billion in an attempt to bring the country out of its worst recession in decades. The massive plan was aimed at turning around the Japanese economy by next year, Prime Minister Keizo Obuchi told reporters after the decision. "We must do all we can to cut the vicious cycle of recession in order to put the nation's economy back into recovery," Obuchi said.
BUSINESS
May 25, 1996 | Times Staff and Wire Reports
Japan Remains World's Largest Creditor: The Asian nation kept its status as the country with the largest amount of overseas assets for a fifth straight year in 1995, the Finance Ministry said. Net foreign holdings reached a record $719 billion at the end of the year, it said. Assets grew last year partly because investors in Japan, where interest rates are at record lows, put money into foreign stocks and bonds in a search for higher returns.
BUSINESS
December 29, 1994 | From Times Staff and Wire Reports
Japan's Current Account Surplus Up 15% in November: The increase from the same month last year reversed a three-month decline, the Finance Ministry said. Still, the ministry said, the long-term trend points to a decreasing surplus in the current account, a measure of spending on nearly all goods and services. The November surplus was $9.67 billion.
BUSINESS
September 7, 1992 | From Times Staff and Wire Reports
Government May Have to Finance Debt: Japan may have to go into debt to finance a government budget deficit this year because the country's economic slump has reduced corporate tax receipts, economists said. Such a move would require the Japanese Ministry of Finance to swallow its own words after saying repeatedly that it will not issue bonds to finance government operations.
NEWS
June 1, 1990 | From Associated Press
U.S. officials Thursday asked that Japan pay for part of an $8-billion particle accelerator that scientists hope to use to probe the structure of atoms and formation of the universe. "The size and the expense of building this project is such that no one country can do it alone," Deputy Secretary of Energy Henson Moore said. "And we believe that for it to be a scientific success, it must be an international project."
NEWS
January 28, 1998 | SONNI EFRON, TIMES STAFF WRITER
Japanese Finance Minister Hiroshi Mitsuzuka resigned today, two days after prosecutors swooped into his powerful ministry to arrest two key officials for allegedly taking bribes from the banks they regulated. Mitsuzuka quit under fierce pressure from a suddenly united opposition, which was poised to extract maximum political mileage from the exposure of corruption in the very agency that is charged with extricating Japan from its current financial troubles.
NEWS
January 27, 1998 | SONNI EFRON, TIMES STAFF WRITER
In a scandal likely to rock Japan's unsteady financial sector, two key Ministry of Finance officials were arrested Monday for allegedly accepting bribes from the banks they regulate.
BUSINESS
January 13, 1998 | DAVID HOLLEY, TIMES STAFF WRITER
The Japanese government, accused for years of downplaying the woes of its banking industry, conceded Monday that the nation's banks are burdened with more than $715 billion in troubled loans--nearly 15% of the banks' total loans. The Finance Ministry insisted that the worst of those loans--the ones considered nonperforming--are "much smaller than the market thinks." But the total sums identified Monday are far larger than the government has previously acknowledged.
BUSINESS
January 2, 1998 | Reuters
Japanese Prime Minister Ryutaro Hashimoto made a New Year's pledge to put the country's faltering economy back on track, stabilize its financial system and prevent Japan from triggering a global economic crisis. In a New Year's address to the nation, Hashimoto urged the nation's 123 million people not to worry about the future of Japan's economy.
BUSINESS
May 25, 1996 | Times Staff and Wire Reports
Japan Remains World's Largest Creditor: The Asian nation kept its status as the country with the largest amount of overseas assets for a fifth straight year in 1995, the Finance Ministry said. Net foreign holdings reached a record $719 billion at the end of the year, it said. Assets grew last year partly because investors in Japan, where interest rates are at record lows, put money into foreign stocks and bonds in a search for higher returns.
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